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Flashcards covering key vocabulary and formulas from the lecture notes.
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RevPASH
Total revenue for the day divided by total seat hours.
Seat hours
The number of seats a restaurant has multiplied by the number of hours the restaurant is open.
Three Key Performance Indicators (KPIs) for Restaurants
Average check, prime cost percentage (PCP), and revenue per available seat per hour (RevPASH).
Average check
The total sales divided by the number of guests.
Prime Cost Percentage (PCP)
The amount of every dollar in sales that goes to pay for the food and the labor involved in serving that food.
Prime Cost Percentage Formula
(Total Food Cost + Total Labor Cost) / Total Sales x 100
Revenue per available seat per hour (RevPASH)
Takes into account not just sales, but also potential sales, as if every seat was occupied from open to close.