Pricing of food
This query is : Resolved
27 January 2009
What method should be used for fixing the price of food in a hotel ( has rooms as well as restaurants)?
27 January 2009
For perishable nature of goods, we generally use FIFO method. Rest depends item to item nature. Generally there can be three types of cost in case of food. Purchase of raw materials + Handling and preservation costs + processing costs. On the basis of these costs you can charge a margin based on Industry norms. It also depends on the location of the restaurent and the conditions of weather also part a major role in pricing decisions.
27 January 2009
Thak you Mr Maheswari.Can you recommend any book where from I can learn about the Hotel Industry norms?
27 January 2009
It is very nice discussion of maheswari
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27 January 2009
Dear Sonali, I am not aware of any specific book on Hotel Industry, but I hope you may get the details over pricing systems for Food and Hotel industry in any good international level costing book.
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