Director of Revenue

The Director of Revenue is responsible for market analysis and execution of revenue and distribution strategy across a single or multiple hotels. The position synthesizes data and develops key insights in cooperation with Sales, Digital, and GM leadership. When devoted to a single property this position is expected to utilizing current technology and data science, the Revenue leader is charged with achieving an optimal mix of revenues to drive YOY growth, profit maximization, and market share. In addition to overall hotel, it guides inventory and pricing strategy for both Group and BT segments. Revenue leaders are expected to understand customer acquisition costs, including channel expense, loyalty investment, commissions, amenity costs, and other booking expenses in order to maximize both revenue and profit. Single property Revenue leaders are expected to be a participating member of the Hotel’s Executive Committee and participate in property initiatives and GM directed initiatives.

Responsibilities

• Assist in the preparation of annual budgets, forecasts, and long-range financial plans.
• Conduct a weekly Strategy meeting where the current 120-day booking period is evaluated for proper rate and availability control.
• Provide a synopsis of results vs. decision form the previous week and lead discussion on future issues.
• Prepare all reports and analyses necessary to conduct the above-stated meeting.
• Monitor group bookings for forecast and strategy impact, lead pick-up/scrub process to insure total hotel inventory is tightly controlled.
• Explore and provide variations in the market mix which would stimulate additional revenue without increasing costs.
• Oversee and evaluate the effectiveness of any internal incentive programs for Front Office, Reservations, Sales and Convention Services. Then provide the General Manager with clear payback analysis.
• Assist the General Manager in making necessary adjustments to any program.
• Direct oversight of reservations department with direct reports from Reservations
• Responsible for the maintenance of any software programs which contribute to the management of room's revenue, including Brand RM and Sales systems.
• Work closely with the Directors of Sales & Marketing, the Front Office Managers and Reservations Managers where applicable to ensure their departmental objectives and responsibilities are met without having a negative impact on total rooms revenue management. This is with special attention to loyalty and brand marketing programs, property promotions, and LNR and CNR accounts.
• Prepare monthly and quarterly presentations or reports as required for progress against budget and index goals.
• Include a detailed analysis on segmentation and market analysis of competitor results.
• Establish hotel pricing parameters in all segments and provide detailed oversight of group quotes including pattern, rate, and net ROGR.
• Receive all definite and tentative group bookings, participate in Funnel reviews, and understand how each booking will impact TREVPAR and GOPPAR.
• Review and approve all group opportunities with Sales and/or General Manager.
• Collaborate with Sales Department on achievement of group production goals for the hotel.
• Maintain impact calendar of special events and citywides 2 years out or through k date/systems’ max booking window.
• Works closely with hotel sales and hotel management to establish and implement pricing, yield, and selling strategies for the hotel, based on market factors and company guidelines.
• Monitor competitor strategies and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management.
• Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
• Assist with the annual hotel budget development and ongoing results analysis.
• Promote teamwork and quality service through daily communication/briefings and coordination with other departments. Key departmental contacts include all hotel departments.
• Create positive working relationships with outside contacts including OTA market managers, competitor DORMs, and CVBs, and other contacts as benefitting strategic development(Professional organizations, community groups).
• Be an active participant in the development of Corporate Revenue Management process and strategy

Education and Experience

• Bachelor's degree in Hotel Administration, Business Administration and 5 plus years hotel management experience. MBA degree and previous Revenue Management or Pricing experience is preferred. Must speak fluent English.
• 3-5 years of experience in financial planning and analysis, investment banking, or a similar role.
• Strong financial modeling and analytical skills.
• Working knowledge of Revenue Management systems – minimum of 2 different Brand systems required for multi property leaders.
• Excellent communication and interpersonal skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Strong attention to detail and problem-solving abilities

Skills and Abilities

• Communication skills are utilized a significant amount of time when interacting with others; demonstrated ability to interact with customers, employees and third parties that reflects highly on the hotel, the brand and the Company.
• Mathematical skills, including basic math, budgeting, profit/loss concepts, percentages, and variances are utilized frequently.
• Understanding of microeconomics as it applies to hotel business.
• Demonstrated knowledge of effective hotel pricing concepts, yield management optimization and selling strategies, and ability to determine which concepts to apply in given market conditions.
• Strong computer skills are required.
• Strong presentation and writing abilities are required.
• Problem solving, reasoning, motivation, organizational and training abilities are used often.
• Ability to travel to attend workshops, specialized training and or certifications.
• May be required to work nights, weekends, and/or holidays.
• Proficiency in Microsoft Excel, PowerPoint, Word and financial software applications, such as Power BI, BI 360 or Cognos