What are the responsibilities and job description for the Regional Revenue Manager position at CSM Corporation?
This position is responsible for maximizing hotel revenue and profit for a defined cluster or region of hotels. The position requires collaboration with corporate and hotel teams to maximize revenue and profit but not limited to rooms revenue. The position is accountable for revenue/profit innovation through pricing, inventory controls, historic and future analysis, communication and implementing revenue-enhancing strategies. Other responsibilities include monitoring and communicating demand and special events, marketing involvement, partners with group room allotment and pricing, and performing other duties requested by CSM Lodging.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Inventory Management: Ensure daily inventories are set appropriately based on the hotel and market conditions. Manage the use of brand Revenue Management Systems for current and future dates in collaboration with group room authorizations. Work with on property teams to maintain straight-line availability for extended stay reservations and all brands within the portfolio.
Strategic Planning: Grow market share by setting prices based on market conditions, competitive analysis, historical analysis and demand data. Recommend strategies for current and future peak and off-peak periods based on previous performances, market conditions, citywide activities and internal or external compression. Participate in the decision making process of group and special corporate account negotiation. Analyze past and current demand and pricing data assuring appropriate strategies and tactics are in place. Prepare and participate in weekly or bi-weekly revenue management strategy meetings leading strategy team participants into a strategic plan for current and future dates. Provides revenue management expertise and leadership to corporate colleagues, general managers, directors of sales and property strategy leadership teams.
Forecasting and Market Segmentation: Review hotels forecast to aid in the determination of future strategies. Assist hotels in the accuracy of forecasts and the yearly budget process by lending knowledge of the market and/or hotel trends or changes in business behaviors. Monitor and work with hotels to ensure daily segmentation is accurate and up to date. Analyze market segmentation as it relates to necessary shifts in our segment mix to attain hotel financial goals. Assist in the decision making process for potential group or contract business by utilizing market intelligence and by performing displacement analysis when applicable.
Systems Accuracy: Ensure the accuracy of all systems pertaining to revenue management. Build and maintain hotel data in brand CRS, RMS, GDS, and applicable Internet sites. Perform periodic system audits in all CRS, RMS and PMS when applicable
Training/Development: Attend all appropriate brand, revenue management tool and diagnostic tool training required and/or as needed to maintain and expand discipline expertise. As a trainer, assist in the development of new members of the revenue management team. Help to educate hotel strategy teams on key areas of revenue management and explain sales strategies and terminology to new revenue management team members. Ensure all attendees of strategy meetings understand the importance of development and execution of current and future strategies that contribute to the overall success of the hotel.
Self/Workload Management: Responsible for effective and timely self/workload management. Demonstrates clear written and verbal communication skills. Promotes collaboration and a positive, professional work environment. Attends all daily, weekly and/or monthly department/company meetings to ensure proper communication/planning occurs. Adheres to all CSM Standard Operating Procedures.
REQUIRED SKILLS AND EXPERIENCE
Education: Bachelor’s degree or equivalent experience required.
Experience/Knowledge/Skills/Abilities:
- 4 to 6 years’ experience in revenue management and system knowledge of reservations and/or revenue management technology.
- Must have working knowledge of Microsoft Excel and Word.
- Must have the ability to adapt and manage multiple hotels in multiple markets.
- Excellent communication skills.
PHYSICAL DEMANDS
- Must be able to sit or stand at a desk for up to eight hours per day.
- Requires grasping, writing, standing, sitting, walking, repetitive motions, listening and hearing ability and visual acuity
- Must have finger dexterity to be able to operate office equipment such as computers, printers, smart phones (i.e. Blackberry, iPhone), multi-line touch tone phone, filing cabinets, FAX machines, photocopiers, and other office equipment as needed
