The Application of Revenue Management in Beverage Operations

Abstract

In recent years, beverage establishments have grown in popularity among millions of people seeking leisure activities, nightlife attractions, and entertainment venues. Despite the prevalence of this well-established industry, beverage establishments have received little academic attention. The present study was designed to compare basic revenue management principles and characteristics with existing beverage establishments and suggest adaptations of those principles in the context of those beverage operations to optimize prices of their food and beverage products and entrance fees. This study involves a qualitative approach based on the interviews with 20 beverage operations managers from the United States and Europe.

KEYWORDS:

• beverage operations
• revenue management
• profitability optimization
• qualitative methodology