What are the responsibilities and job description for the Director of Revenue Management position at Millcraft Investments, Inc?
Piatt Hotel Group is searching for a Director of Revenue Management to join their corporate team to centrally support their portfolio of hotels. The Director of Revenue Management will be based out of our Southpointe office location and will lead and optimize revenue strategies across our hotel portfolio. This role is essential in driving revenue growth through effective pricing strategies, market analysis, and efficient inventory management. The ideal candidate will have a deep understanding of hotel revenue management, excellent analytical skills, and a proven ability to align cross-departmental efforts for maximum profitability.
As Director of Revenue Management you will:
Strategic Revenue Management:
- Develop and execute pricing and inventory strategies to optimize RevPAR (Revenue Per Available Room) and overall hotel revenue.
- Analyze market trends, demand forecasts, and competitive data to inform decision-making.
- Implement dynamic pricing models across all distribution channels.
Inventory and Channel Management:
- Manage room inventory across direct booking channels, OTAs, and GDS platforms.
- Monitor distribution performance and adjust channel strategies as needed.
Forecasting and Reporting:
- Prepare and present accurate forecasts for room revenue and other revenue streams.
- Provide actionable insights and recommendations to executive leadership.
Team Collaboration:
- Work closely with sales, marketing, and operations teams to align revenue and business objectives.
- Lead revenue strategy meetings, sharing data-driven strategies and performance updates.
Technology and Systems:
- Optimize the use of revenue management systems and other tools.
- Ensure data accuracy and integrity across all platforms.
Market Analysis and Benchmarking:
- Conduct regular competitor analysis to benchmark performance and identify opportunities.
- Stay informed on local events, seasonal trends, and market conditions to anticipate demand shifts.
Future Development Recommendations:
- Conduct feasibility studies for potential new hotel locations or expansions based on market demand and financial projections.
- Provide data-driven insights on emerging markets, travel trends, and guest behaviors.
