Director of Revenue Management

Description

Position Summary:

Assists the property in meeting revenue goals and growing market share by developing and leading total hotel pricing and inventory optimization strategies. Analyzes hotel performance and pricing effectiveness.  Identifies revenue opportunities and makes recommendations to hotel for pricing and/or inventory management changes. Monitors demand trends, booking patterns, pace and market conditions.  Analyzes reports and data and develops models and projections.  Measures outcomes and effectiveness of revenue improvement programs.

Duties & Responsibilities 

Primary Responsibilities/Essential Functions:

1. Analyzes and measures pricing strategies. Ensures a consistent and rational hotel pricing and yield strategy across all channels and all segments according to the company’s pricing philosophy.  Formulates strategic plans for hotel and effectively defines, executes, and communicates actions to accomplish related objectives. Effectively use available systems to determine, implement, manage and control accurate and agreed upon selling strategies.
2. Analyze and monitor marketing channels, groups, and other account production. Ensure that all major channels of distribution – Internet, GDS, CRO, Consortia, Wholesale, etc. - effectively support the hotel and maintain rate parity
3. Collaborate with Director of Sales to identify effectual as well as engaging rate offers with groups, business travel, wholesale, etc. Both parties must sign off all contractual rate offers for these segments.  
4. Works with Group Sales and Catering to define space release polices, catering minimums, etc.  Communicates the hotel's selling strategies effectively to Sales & Marketing colleagues.
5. Proactively manages inventory for the hotel to optimize revenue in all areas including Rooms, Function Space, and Food and Beverage. Assesses the impact of room inventory factors on performance and influences corrective measures.  Effectively manages promotions, restrictions and policies to maximize revenue potential.  
6. Accurately prepare Monthly and Weekly Forecasts (Day by Day) for all transient segments, group (based on feedback from Sales/Event Services). 
7. Proactively provides data to the team for the purpose of analyzing and evaluating specific business segments, specific accounts, market segment mix (Group vs. Transient and its sub-segments), room type demand, channel production and geographical mix, recognizing trends and patterns.
8. Researches and maintains knowledge of market trends, competition and customers. Recognizes trends and their relevance to one another and provides pricing, inventory and selling strategy recommendations.
9. Ensure hotel representation on our website as well as third party websites are accurate and appropriate.
10. Participates in the preparations of the transient and group rooms budgets, with input from Sales and contributes to the development of the transient and group portion of the hotel's marketing plan. Works with the Sales Department and defines booking terms, conditions and allotments for all transient and Group segments.
11. Evaluate Weekly and Monthly Market Share reports to understand trends and opportunities vs. competitive set and the market as a whole and ensure targeted relative RevPar positioning is achieved.
12. Works hand in hand with the on property and corporate marketing team to drive digital marketing initiatives and optimize direct e-commerce channel.
13. Assists in developing 3-month, 6-month, and 12-months strategic action plans for the management of transient revenues.
14. Oversee the development and monitoring the reservations department for efficiency in converting rooms via Navis leads, abandonment carts, and overall selling strategy.
15. Responsible for reservation agents’ and supervisors’ overall reservations related performance.
16. Analyze and yield topline opportunities in every revenue generating outlets between BBR/BBC to include but not limited to:  F&B, Recreation, Spa, Rooms related, Dry Bar, Parking, etc.
17. Measure revenue per units, perform menu engineering, compare to our competitors, and study latest trends for each department.  Come up with ideas, packages, seasonal offers, and other creative ways to maximize revenue.
18. Meet department leaders and assist in creating new SOPs (if needed) to help implement these ideas.  Inspect what you expect.  Follow through with the team on the field as well as the perspective GM.

Other Responsibilities/Supportive Functions:

1. Regularly share and discuss analytical findings and strategies with the Corporate Director of Revenue Management & Distribution.
2. As applicable, trains, manages and develops relevant team members to ensure successful execution of revenue maximization efforts.  Trains relevant team members on key areas of revenue and yield management. Communicates the hotel’s selling strategies effectively to Sales & Marketing colleagues

Qualifications

Qualifications (relevant experience, education and training):

1. High school diploma or general education degree (GED), or equivalent combination of education and experience. Bachelor’s degree in hospitality desired.
2. Two or more years of related industry Revenue Management experience.  
3. Possess solid knowledge of hotel service standards, guest relations and etiquette.  Ability and experience in working in a high volume, time sensitive environment.  
4. Completes all required training as scheduled.
5. Experience preparing budgets and expertise analyzing profit and loss statements.  Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of financial elements and deal with several abstract and concrete variables.  Uses logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.  Requires attention to detail.    
6. Requires ability to determine needs of customers and persuasively present sales options through verbal face-to-face and telephone interactions.  Must be able to create and effectively provide sales presentations and materials to potential customers.  Contacts sometimes contain confidential/sensitive information so requires ability to use discretion.  Must demonstrate positive attitude and professional demeanor. Requires strong communication and interpersonal skills and commitment to a high level of guest satisfaction.
7. Requires strong working knowledge of MS Office applications (including Excel and PowerPoint) and ability to learn and use telephone and computer systems used at the hotel. Experience with current web-based business intelligence tools.
8. Due to the cyclical nature of the hospitality industry, team members may be required to work varying schedules to reflect the business needs of the hotel.  Work schedules will include working on holidays, weekends and alternate shifts.  Position requires working from property location.
9. Must maintain a clean appearance and professional demeanor.

Special Skills & Abilities/Mental and Physical Demands:

While performing the duties of the job the team member regularly sits for sustained periods of time and stands and walks occasionally when working with potential customers to present information and tour the property. The team member occasionally grasps objects such as presentation materials. The team member occasionally reaches by extending hand(s) and arm(s) in any direction while performing essential functions of the job. The team member frequently talks when communicating with current or potential clients and staff.  The team member frequently needs to hear voices while interacting with potential customers, guests and staff.  Many aromas and smells are present in the dining areas. Exerts up to 40 pounds of force occasionally, and/or up to 10 pounds of force constantly to move objects such as sales materials. The team member is required to have close visual acuity to operate a computer. The team member is required to have visual acuity to determine the accuracy, neatness, and thoroughness of the reports and contracts. 

The team member is primarily subject to environmental conditions found working inside.     The team member is occasionally subject to loud noise (or music) when working in or around the property.   The team member is occasionally subject to atmospheric condition such as fumes, odors, or dusts. 

Salary : $135,000