Director of Revenue Management

Salary Details

Salary Description: Competetive Salary Offered

Job Description For Director of Revenue Management

Description

The Director of Revenue Management is responsible for maximizing overall hotel revenue for rooms and food and beverage through the implementation of effective pricing and distribution strategies in large hotels. Out-perform direct competitors by winning market share with rational and competitive pricing, distribution strategy backed by targeted marketing, and careful management hotel inventory to maximize topline revenue and yield high net profits. Manage and oversee revenue management analytic functions to produce reporting that support and evaluate hotel business strategies. Provide guidance and support sales and marketing initiatives that are targeted to meet the needs of the hotel. Produce accurate revenue forecasts that help set hotel goals and outgrow the competition. Display leadership qualities that mentor, develop, and guide hotel team members such as revenue analysts and managers,

• Ability to work under pressure and in a fast-paced environment.
• Directs Inventory Management team in loading and maintaining rates and inventory allotments in the IDS/GDS/CRO and property PMS in a timely manner to promote rate parity throughout all booking channels and maximize Hotel revenue yield.
• Manages relationships with top IDS partners and CRO.
• Implements effective pricing strategies relative to stay and rate restrictions across managed portfolio.
• Quarterly updates of competitive hotel set information including room mix, amenities, public/event space, strengths, weaknesses, opportunities and threats.
• Monitors and reports on competitive hotel information through various reports like STR, as well monitoring of marketplace pricing on the Internet via hotel websites and the IDS.
• Monitor and analyze all STAR reports and identify performance challenges and opportunities for the Hotel. Monthly Executive Summary creation is required.
• Maintains contact with Chamber of Commerce, Convention and Visitors Bureau and local hotel associations to collect information/reports on large groups, area events and conventions that impact room night demand. Monthly updates to the Convention Calendar to reflect additions and cancellations.
• Prepares and maintains a current Rate Strategy Planning Calendar, by room type.
• Maintains weekly Pick-up reports for each Hotel in managed portfolio. Conducts weekly pickup meeting with Sales and/or Convention Service team.
• Create/maintain referral program to encourage competitive hotels to send their overflow.
• Monitors performance of all special rate offerings including promotional discounts, package plans, and any other property level special rates and/or discounts.
• Assist in development of special package rates appropriate to market demand.
• Assists in developing, implementing, monitoring, and controlling annual room revenue budget and marketing plans to assist in meeting/exceeding the overall hotel goals.
• Oversees the processes associated with demand, revenue, forecasting and opportunity analysis (to include seasonality, competitive positioning and displacement).
• Maintain complete knowledge at all times:
  • all hotel features/services, hours of operation.
  • hotel history and neighborhood knowledge.
  • all room types, numbers, layout, décor and location.
  • all room rates, special packages and promotions and programs for Travel agencies.
  • daily house count and expected arrivals/departures.
  • room availability status for any given day.
• Initiate/Attend weekly Revenue Meetings with a report out and analysis on previous week / month's statistics, along with a 90-day forecast review for hotel.
• Attend Sales Business Review Meetings.
• Attend to the daily departmental meeting as needed.
• Meet with other Rev Mgmt team members to keep current on regional trends and perspectives in the industry and economic climate.
• Attend educational seminars to keep current on trends in Revenue Management.

• 2 years as a manager in the hotel industry revenue management discipline
  
• Strong organization and analytical skills
  
• Intermediate or expert skill level in the use of the Microsoft Office suite of products
• Experience working in a sales / inventory / revenue management environment. Ability to effectively develop and deploy hotel inventory and yield management strategies in a multi-property environment that support individual Hotel revenue goals, as well as corporate revenue management initiatives.
• Ability to communicate effectively across various management levels and with partners and vendors. Strong written and verbal communications skills required.
• Strong knowledge and ability to use electronic media, marketing and distribution platforms to generate incremental revenue for managed asset(s).
• Knowledge of current economic conditions pertaining to, and its impact on, the travel and lodging industry (cause and effect relationships), with particular expertise on the managed asset's local marketplace.
• Ability to effectively relate and communicate with internal customers and outside vendors, collect information and successfully resolve conflicts.
• Excellent communication and leadership skills. Must have strong creative problem-solving skills.
• Strong analytical skills with the ability and willingness to draw conclusions and take quick decisive action with regard to the analysis. Be able to present ideas/ large volumes of information in a clear/concise articulate manner. Ability to analyze and interpret basic financial/market data.
• Ability to facilitate weekly yield management meetings for multiple properties. Including establishing and prioritizing agenda items and collection of data to execute meeting effectively.
• Proven track record in achieving Rev-Par Index success will be a plus.
• Comfortable being an agent of positive Change Management.
• Confidence, ability to think clearly and perform well under pressure.
• Ability to negotiate and create win-win situation for customers, owners, and management teams.
• Strong organizational & time management skills.
• Ability and willingness to consistently take a 'hands on' approach in executing regular management responsibilities.
• College degree in Hospitality Management with previous hotel internship and/or work experience in Reservations/Revenue.