Revenue Management

REVENUE MANAGEMENT


Table Games

Historically, table games departments have been one of the hearts of a casino, especially in Asia. In places like Macau, Singapore, and the Philippines, the table games/slot ratio is closer to 80/20, so table games are huge revenue generators in Asia. Since the highest-betting gamblers are estimated to be worth up to 50 times more than their lower-betting counterparts, casinos want to ensure that these high-rollers always have a seat at the table, even if that freezes out some lower-betting players. With so much money at stake, it is surprising that any casino bases its table game minimums on the judgment of human floor managers.

Slot Floor Optimization

Part art, part science, Slot Floor Optimization can help a casino understand the relationship between its machines and their profitability. Slot Floor Optimization helps managers determine the best mix of machines, the best prices on the machines, and the best utilization of the floor space to maximize returns. When it comes to slot floor planning, bad decisions will lower returns on deployed assets and can have a direct impact on the patron experience. Ensuring the right mix of games, at the right price, aligned to customer demands and preferences can help the casino generate incremental revenue, all the while improving the customer experience.

Hotel

Revenue management can extend beyond rooms all the way down to the front office. The term ‘Front Office’ is used in hotels worldwide and refers to employees working directly with guests and often also as the first point of contact for the arrivals. The front office department can be part of the Rooms Division department and consist itself of different function areas namely reception, reservations, guest relations, concierge, switchboard, bell service, and so on. Irrespective of the hotel size or type, front office is still considered a highly visible department and an important information center for both guests and employees throughout the hotel.

Restaurant

One of the key challenges of restaurant revenue management is helping restaurant operators understand the difference between being operationally busy and revenue-management busy. Just 'being busy' isn't enough, extracting the greatest potential profit is the most important thing for ROI. Menu engineering has been examined in considerable detail since it was introduced three decades ago and it doesn't have to be onerous. Menu engineering can be used to determine which menu items to highlight (or hide), but other menu design tools can be used to help restaurants generate more revenue from their menus. Besides menu engineering, another all-purpose tool is to improve the servers’ selling skills. Adjusting the table mix in a restaurant is important as well.

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