What are the responsibilities and job description for the Hotel Area Revenue Manager (Experienced) position at Opal Collection Revenue Management Office?
Area Revenue Manager will develop and oversee strategic tactical plans in all market segments in order to optimize occupancy, ADR and RevPar for multiple properties.
This role involves analyzing market trends, forecasting demand, and utilizing revenue management systems.
The applicant is responsible for hotel revenue management strategies based on complete analysis of the competitive set, distribution channels, historical data, and marketing.
The ideal candidate will possess strong analytical skills, a deep understanding of market dynamics, and a keen ability to make data-driven decisions.
The result of these revenue strategies must exceed overall expectations.
Key Responsibilities :
- Revenue Optimization :
- Develop and execute revenue management strategies to maximize hotel revenue and profitability.
- Analyze historical data, market trends, and competitive pricing to make informed pricing decision.
- Evaluation of past performance, and future strategy
- Implement dynamic pricing models, adjust room rates and restrictions based on market conditions and demand forecasts.
- Forecasting and Budgeting :
- Create accurate demand forecasts and monitor performance against budgeted targets.
- Adjust forecasts based on changing market conditions and business performance.
- Implement revenue strategies that are reflected in forecast
- Forecast daily by segment
- Market Analysis :
- Conduct regular analysis of market trends, competitor activity, and industry benchmarks.
- Identify opportunities for revenue growth and adjust strategies accordingly.
- Stay updated on local events, holidays, and other factors that may impact demand.
- Inventory Management :
- Oversee room inventory allocation and manage distribution channels to optimize revenue.
- Work with inventory team to implement strategies for overbooking and managing room availability.
- Ensure optimal performance of all booking channels, including direct bookings, OTAs, and GDS.
- Performance Monitoring :
- Monitor key performance indicators such as RevPAR, ADR, and occupancy.
- Prepare and present regular revenue reports and performance analyses to team.
- Change revenue strategies based on performance data and market changes.
- Collaboration :
- Work closely with the property teams to develop and execute promotional strategies.
- Coordinate with the front office and reservations teams to ensure alignment on pricing and availability.
- Provide guidance to hotel staff on revenue management practices and strategies.
Establish group strategy in regards to effective group pricing, pattern, and base with sales departments.
Qualifications :
formulas, pivot tables, data connections, macros and automation)
This position is not remote and will be performed in a specific location.
