What are the responsibilities and job description for the Copy Of Revenue Manager position at Millcraft Investments, Inc?
Piatt Hotel Group is searching for a Revenue Manager to join their corporate team in Southpointe to centrally support their portfolio of hotels. The Revenue Manager plays a critical role in ensuring the portfolio’s financial success by optimizing pricing, managing distribution channels, and using data-driven strategies to maximize revenue across multiple properties. In this role, you will work closely with various departments, including sales, marketing, and operations, to align strategies and meet revenue goals across multiple properties.
Some key responsibilities include:
- Revenue Strategy Development:
- Develop and implement revenue management strategies to maximize room occupancy and revenue per available room (RevPAR).
- Set pricing strategies based on market conditions, demand forecasts, and competitor analysis.
- Adjust pricing in real-time, using revenue management systems (RMS) to respond to changes in demand and market trends.
- Forecasting and Analysis:
- Produce accurate daily, weekly, and monthly forecasts for room revenue.
- Analyze historical data, market conditions, and future demand patterns to make informed pricing decisions.
- Monitor key performance indicators (KPIs) such as occupancy, average daily rate (ADR), and RevPAR.
- Inventory and Channel Management:
- Manage room inventory across all distribution channels (e.g., online travel agents (OTAs), direct bookings, third-party channels) to maximize occupancy and revenue.
- Ensure the accurate setup and maintenance of rates and availability in all distribution systems.
- Evaluate and optimize channel performance, ensuring that the mix of business is balanced to achieve maximum revenue and profit.
- Collaboration and Coordination:
- Work closely with the sales and marketing teams to align revenue strategies with promotional activities and marketing campaigns.
- Collaborate with the operations and front office teams to ensure effective capacity management and customer service.
- Reporting and Performance Monitoring:
- Prepare and present revenue management reports for senior management, outlining key metrics, strategies, and revenue performance.
- Track and report on competitor performance and market positioning.
- Monitor the impact of pricing decisions and promotions, adjusting strategies as needed.