Close

Cart

Total $0.00

Checkout

Ithaca, NY, November 30, 2015 – A new tool from the Center for Hospitality Research (CHR) allows restaurateurs to optimize their reservations and seating using Microsoft's Excel spreadsheet. The tool and description, "Instructions for the Restaurant Reservations Optimization Tool," by Gary Thompson, are available from CHR at no charge. Thompson is a professor at the Cornell School of Hotel Administration.

"The tool uses the Solver add-in for Excel, which allows restaurant operators to determine their best mix of tables and also decide which reservations they should accept based on their demand forecast," Thompson explained. "As part of this calculation, the operator does have to make an estimate of how much to inflate the amount of time guests will be seated at the table, since dining duration is an important aspect of when tables will become available and when reservations can be accepted."

Thompson added that the "inflation factor" for dining time influences revenue and service levels, since a lower inflation factor would result in more revenue, but also risks lower service levels since it could leave customers waiting for a table.

The instruction document depicts the components of the tool and explains how to use the tool by presenting a practical example of table mix optimization for two nights. Thompson also shows the optimization model behind the tool.

"In my explanation and examples, I have set up the tool for four table sizes and eight reservation time slots, because of limitations in the basic Solver add-in," Thompson said. "But this can easily be expanded by upgrading Solver's capabilities, as I explain in the tool instructions."

About the Center for Hospitality Research

The purpose of the Center for Hospitality Research is to enable and conduct research of significance to the global hospitality and related service industries. CHR also works to improve the connections between academe and industry, continuing the School of Hotel Administration's long-standing tradition of service to the hospitality industry. Founded in 1992, CHR remains the industry's foremost creator and distributor of timely research, all of which is posted at no charge for all to use. In addition to its industry advisory board, CHR convenes several industry roundtables each year for the purpose of identifying new issues affecting the hospitality industry.

Contact: Carol Zhe

caz9@cornell.edu / 607.254.4504

Related News

IDeaS Announces 2017 Cornell Revenue Management Scholarship Recipients

Cornell Presents the 2017 Center for Hospitality Research Sustainability Roundtable Summary

Hospitality Sweet

The 2017 Cornell/ICHRIE Howard B. Meek Award Presented to Dr. Fred DeMicco

Cornell CHR Report Asks: "Do Property Characteristics or Cash Flow Drive Hotel Real Estate Value? The Answer Is Yes”

Cornell Research on Hotel Brand Standards: How to Pick the Right Amenities for Your Property

What to Expect in 2017: A View from the CHR Advisory Board

Cornell Study on Labor Law: When Rules Are Made to Be Broken: The Case of Sexual Harassment Law

Cornell Study Examines Emerging Trends in Hotel Revenue Management

Cornell Study Highlights Diversification Benefits of REIT Stock Investments

Cornell Study Examines How Bias Affects Hiring Practices

Roundtable Focuses on High-Tech Adoption in Hospitality Industry

Aimed to Help Hotels Reduce Restaurant Food Waste, Cornell Offers New Tool, FRESH: A Food-service Sustainability Rating

Hospitality Money Managers Should Avoid Short-term Trading According to New Cornell Study

Cornell Tool Allows Restaurants to Evaluate Early Bird & Night Owl Menu Specials Effectiveness

Cornell Study Puts Retaliation Claims in a Class by Themselves

Likely Boost for Hotel Profits According to Cornell Analysis

Improved Hotel Sustainability Benchmarks Outlined by Cornell Study

Building a Smart Distribution Strategy

Changing Relationship of Supervisors and Employees Revealed in Cornell Study

All News »

Please login or register to post a comment.