Revenue Mgr

The role of Revenue Manager requires a keen analytical mindset, effective communication, and a continuous drive to enhance profitability while ensuring exceptional guest experiences. The Revenue Manager will set the right prices for hotel rooms and other services. This involves employing yield management techniques, adjusting prices based on factors like demand, seasonality, special events, and competitor rates. The revenue manager uses advanced analytical tools to forecast demand patterns, and then crafts pricing strategies to optimize occupancy rates and revenue.

Job Responsibilities:

• Implement revenue management operations, procedures and best practices
• Identify new revenue opportunities.
• Optimize and expand distribution partnerships.
• Oversee revenue management and distribution strategy of the hotel and manage day to day yield operations
• Daily pick-up analysis, strategy adjustments and reporting
• Perform competitive benchmark studies and follow market trends
• Create and maintain a rolling demand calendar
• Provide a weekly dynamic forecast of expected results, variances and budget comparisons
• Manage and oversee strategy for all 3rd party distribution
• Responsible for assessing, analyzing and pricing group business strategies
• Analyze overall monthly hotel performance and provide a summary report with recommendations to improve long-term strategies
• Ensure all related systems are configured correctly, validated and working to full capacity
• Ensure web site booking process is maintained up-to-date and functional
• Regularly check the input and the quality of data (segmentation, denials tracking, etc…) points
• Conduct quarterly property performance reviews and develop strategic and tactical action
• Responsible for best practice standards to include: competitor analysis; environmental scanning; market modelling; distribution yield management; business mix yield management; length of stay yield management; inventory availability by channel; pricing control and new pricing concepts
• Evaluate the performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…)
• Prepare an outline for and support the annual revenue budget process
• Comply with all federal, state and local regulatory guidelines and laws
• Inspire Hotel’s HODs to further embed a revenue management culture
• Organizes scheduling of the Front Office management team according to business levels
• Authorizes payroll on a bi-weekly basis
• Conducts interviews and performs reference checks of potential new hires
• Organizes and administers on-the-job training for new employees and monitors training programs for hotel school interns
• Empowers associates to provide excellent customer service
• Emphasizes guest satisfaction during all meetings and focuses on continuously improving
• Ensures associates understand expectations and parameters

Reporting

• Consistency in providing daily, weekly and monthly reporting.
• Using precise and effective language to communicate the most important KPIs and actions.
• Consistent use of professional language and style of writing

Communication

• Promote a revenue management culture.
• Build and maintain strong working relationships with levels of staff and stakeholders
• Work in liaison with hotel sales and reservations departments as a team

Experience & Qualifications

• Experience as a Hotel Revenue Management and/or other departments of the hotel is beneficial
• Highly computer literate with a high-level command of Excel, or data analysis and billing tools
• Knowledgeable of hotel technology: PMS, Channel Manager, GDS, CRS, Opera, IDeas RMS

Extranets

• Attain a high propensity for customer service
• Must be proficient with all Microsoft systems
• Previous leadership experience in a luxury resort environment is a plus
• College Degree in hospitality or business-related field preferred
• Ability to effectively present detailed information, both verbally and in written form to guests, and to employees throughout the organization
• Must be flexible with scheduling to include mornings, holidays, and weekends
• A minimum of two years of Revenue Management and experience in a property of similar size and quality is required. Ability to read and comprehend complex correspondence