Dir-Revenue Management I
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Key skills for this role
About the Role
Responsible for maximizing revenues through pricing strategies, analyzing data, and maintaining relationships with stakeholders in revenue management.
Key Skills for This Role
Responsibilities
- Balance financial objectives of different lodging products to maximize total revenues and profit associated with guest rooms
- Accountable for pricing, positioning and inventory of all hotels within area of purview
- Develop and recommend sales strategy for pricing of the transient customer, wholesale, and group segments
- Identify new revenue opportunities and effectively communicate sales strategy and pricing to all key stakeholders
- Maintain productive relationships with stakeholders, including hotel General Managers, sales leaders, franchisees and owners
- Analyze period end and other available systems data to identify trends, future need periods and obstacles to achieving goals
- Generate updates on transient segment each period and continually analyze transient booking patterns
- Assist with account diagnostics process and validate conclusions
- Maintain accurate reservation system information
- Check distribution channels regularly for hotel positioning, information accuracy and competitor positioning
- Analyze weekly and monthly STAR information to assist in analyzing past strategies; identify areas needing improvement, identify competitor set strengths, and develop strategies to best capture available Market Share
- Generate yearly room revenue budget
Requirements
- Experience in revenue management, pricing, and inventory management
- Strong analytical and data analysis skills
- Ability to develop and implement sales strategies
- Experience with STAR reports and RevPAR forecasting
- Excellent communication and stakeholder management skills
Full Job Posting
Job Summary
- Responsible for balancing the financial objectives of different lodging products to maximize total revenues and profit associated with guest rooms.
- Position is accountable for pricing, positioning and inventory of all hotels within area of purview.
- Develops and recommends sales strategy for pricing of the transient customer, wholesale, and group segments.
- Identifies new revenue opportunities and effectively communicates sales strategy and pricing to all key stakeholders.
- Maintains productive relationships with stakeholders, including hotel General Managers, sales leaders, franchisees and owners.
Core Work Activities Analyzing and Reporting Revenue Management Data
- Analyzes information, identifies current and potential problems and proposes solutions.
- Analyzes period end and other available systems data to identify trends, future need periods and obstacles to achieving goals.
- Generates updates on transient segment each period and continually analyzes transient booking patterns.
- Assists with account diagnostics process and validates conclusions.
- Maintains accurate reservation system information.
- Checks distribution channels regularly for hotel positioning, information accuracy and competitor positioning.
- Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Generates and provides accurate and timely results in the form of reports, presentations, etc.
- Observes, receives, and otherwise obtains information from all relevant sources.
- Submits reports in a timely manner, ensuring delivery deadlines.
- Analyzes weekly and monthly STAR information to assist in analyzing past strategies; identifies areas needing improvement, identifies competitor set strengths, and develops strategies to best capture available Market Share.
- Analyze STAR information to assist in development of RevPAR Index forecasts.
Managing Revenue Management Strategy
- Provides critical input to property leaders for development of market sales strategy.
- Provides revenue management functional expertise and leadership to general managers and property leadership teams
- Implements and evaluates revenue tests.
- Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
- Assists hotels with pricing and provides input on business evaluation recommendations.
- Provides recommendations to improve effectiveness of revenue management processes.
- Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
Building Successful Relationships
- Communicates brand initiatives, demand and market analysis to hotels/clusters/franchise partners/owners.
- Communicates market direction to revenue management, sales and hotel leaders.
- Develops constructive and cooperative working relationships with others, and maintains them over time.
- Develops and manages internal key stakeholder relationships.
- Provides targeted and timely communication of results, achievements and challenges to the stakeholders.
Additional Responsibilities
- Informs and/or updates executives, peers and subordinates on relevant information in a timely manner.
- Enters, transcribes, records, stores, or maintains information in written or electronic form.
- Works with other people to gather the information necessary to manage projects, achieve goals, and resolve problems.
- Demonstrates knowledge of job relevant issues, products, systems, and processes.
- Provides information to supervisors, co workers, and subordinates by telephone, in written form, e mail, or in person.
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