When you think of variable pricing for revenue management, you tend to think of the travel industry. After all, airlines invented yield management and hotels soon followed. But along the way came a lot of customer frustration and confusion.
Restaurants, on the other hand, have been at dynamic pricing for even longer and don’t get such a bad rap. Cutesy names like Happy Hour and Early Bird Special take the bite out of revenue management.
Despite the long history, restaurants are only beginning to tap into the power of revenue management. Continue reading