London restaurant pioneers new ‘travel industry’ pricing

A top restaurant is trialing a new ‘travel industry’ pricing system by charging its customers less if they eat during off-peak times.

Bob Bob Ricard in Soho, London, is known for its fine dining and a Beef Wellington dish will set customers back £44.50 each. 

But its owner has now revealed they are introducing the new pricing model which is based on the travel industry.

Customers can now pay 25 per cent less if they eat during off-peak times such as Monday lunchtime. 

The menu has remained exactly the same but dinner during mid-peak times, including dinner on Tuesdays and Sundays, will be 15 per cent cheaper.

However, the bill on Saturday evenings restaurant, will not be discounted.   

Leonid Shutov, the restaurant’s founder, told Bloomberg: ‘The idea just came from looking at how the rest of the world functions. 

‘Airlines wouldn’t be able to exist, the business model wouldn’t work unless you could balance supply and demand. 

Leonid Shutov (pictured) has introducing the new pricing model in a bid to stay ‘competitive’ 

Everything that we have taken that is widely accepted in the modern economy and applied to restaurants, seems to have worked.’

The move means a lobster macaroni & cheese dish would cost £20.50 instead of £26.50 during off-peak times.   

Mr Shutov added that an average customer at his restaurant spends £100 each but he realises they need to serve great food without ‘charging ridiculous prices’.

He added: ‘One of the ways of doing that is ensuring a more even occupancy throughout the week so that we are not subsidizing our Monday lunch with a Saturday dinner.’