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Reservations Tool

Restaurant Reservations Optimization Tool

Right People at the Right Price

Cornell’s Gary Thompson just made this great reservations optimization tool. It determines two things: the right mix of tables you should have in you restaurant and which reservations you should accept. Depending on the size of your restaurant and some other factors, accepting every reservation could be damaging. While this might yield you more revenue it comes at the cost of your guests. That is because you will have longer wait times for a table and lower customer service.

The purpose of this tool is to determine the best mix of tables in a restaurant, while simultaneously determining which reservations should be accepted from forecasted demand. A key parameter in the tool is the degree to which average dining durations are inflated. The tool user selects this inflation factor according to expectations regarding the extent to which parties will exceed the anticipated average dining time. Lower inflation factors result in more revenue, because more reservations are accepted, but also come with lower service levels, meaning more customers will need to wait for a table. Based on the user inputs, the tool, which uses the Solver add-in for Microsoft Excel, returns the optimum table mix for the greatest revenue. -Gary Thompson

His method has many caveats like dining time and dining duration. All of these are random, to some effect, in real life. While that is true he does do an excellent job finding the ultimate ratio for restaurant revenue. Go check it out.

Editor’s Note: We have been fixing bugs. This is a repost from last year. Originally it was posted on April 12, 2016 @ 08:41 AM.

Summary
Article Name
Restaurant Reservations Optimization Tool
Description
Cornell's Gary Thompson just made a cool restaurant reservations tool that optimizes the amount and the type of guests you should hold reservations for.
Author
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StartingHospitality.com

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Hospitality professional with in-depth knowledge of front and back office operations, consulting top-level executives with innovative strategies, industry best practices, and providing a custom framework for increasing profitability. Pre-opening team member of properties in the United States and Macau, all ranging from small boutique to mega casino resorts.

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