Revenue Manager
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Key skills for this role
About the Role
Responsible for revenue performance analysis, pricing strategy, data reporting, and team training to maximize hotel revenue and market share.
Key Skills for This Role
Responsibilities
- Monitor competitor availability and pricing daily using available tools
- Analyze and report actual performance versus competitive set
- Ensure optimal use and measure performance on all distribution channels
- Carry out analysis of booking patterns and market trends
- Identify and propose hotel pricing strategy by market segment
- Prepare weekly 3 month forecasts for different revenue streams
- Prepare revenue month end reporting
- Participate in production of hotel's annual budget
- Prepare weekly Revenue/Sales Strategy Meeting and circulate minutes
Requirements
- Experience in revenue management within hospitality
- Ability to monitor competitor availability and pricing using tools like OTA Insight/Rate Gain, EzRMS
- Strong analytical skills for data analysis and reporting
- Knowledge of revenue management systems like OPERA
- Ability to prepare forecasts and budgets
Full Job Posting
Company Description
- Why work for Accor? We are far more than a worldwide leader. We welcome you as you are and you can find a job and brand that matches your personality. We support you to grow and learn every day, making sure that work brings purpose to your life, so that during your journey with us, you can continue
- By joining Accor, every chapter of your story is yours to write and together we can imagine tomorrow's hospitality.
Key Responsibilities
- Monitor competitor availability and pricing daily, using all available tools such as OTA Insight/ Rate Gain, EzRMS pace etc., and subsequently analyze & report actual performance versus competitive set.
- Ensure optimal use, and measure performance on all distribution channels, to ensure that fair market share is achieved if not surpassed.
- Carry out analysis of Booking Patterns & Market Trends and ensure that these are recorded to facilitate future decisions.
- To identify and propose the hotel pricing strategy by market segment with reference to market intelligence, buying patterns and pre determined seasonality.
- To identify and propose tactical offers to generate incremental revenues.
- To prepare weekly 3 months forecast for different revenue streams by Market Segment/Day.
- To prepare revenue month end reporting.
- To actively participate in the production of the hotel's annual budget and to assist in the creation, update and evaluation of the hotel Strategy Plan.
- To prepare a weekly Revenue / Sales Strategy Meeting. Collate and distribute meeting minutes of notes on forecast and strategy changes, including weekly action plan.
- Ensure timely formulation and circulation of revenue MIS reports required by Executive Office, Owner's office and Accor Regional office.
Data Analysis & Reporting
- Review and analyses daily, weekly and monthly reports as per the requirements from owning company and AccorHotels and the management.
- Communicates analysis with management team for necessary and required revenue management decisions to ensure that targets are met.
- Monitors and analyses room's inventory utilising Revenue Management systems and structure to maximise occupancies and increase revenue including, but not limited to, monitoring room group blocks, demand levels and plan restriction.
- Monitors competitive environment including pricing and strategies of competition as well as external variables such as city pressure and special events.
- Facilitate sales team with performance analysis of hotel's top producing accounts, and accordingly suggest variable and lucrative pricing proposal for contracting.
- Understands the dynamics of the local, regional and international political and economic environment and all demand generators.
Control & Strategies
- Suggest short and long term sale controls and strategies in coordination with Cluster Director of Revenue Management.
- Communicates controls and selling strategies with all concerned and ensure strict adherence and authorize any expectations.
- Responds to all group and MICE inquiries applying the selling strategies.
Support & Training
- Nurtures effective succession planning for Revenue and reservation team members.
- Assists in recruitment and training of new reservation team.
- Maximizes the usage of up selling and assist in up selling techniques.
- Works closely with other department to ensure the proper training of their team members in relations to the revenue management process.
System Maintenance
- Ensures booking of systems of systems (rooms and MICE) are regularly maintained and updated thus maximizing the sales potential and data accuracy of reports.
- Monitors input of data with particular attention to rate controls and status options.
- Effectively retrieve statistical information.
- Ensures all existing and new rate codes are regularly reviewed and updates via TARs /OPERA
- Ensures that all promotions / packages are properly loaded in all applicable systems.
- Ensures that rate parity is maintained across all distribution channels thus allowing maximum flexibility to capture all market buying patterns.
Employee Handling
- Instill the training philosophies of the company and work closely with the Director of Talent and Culture and Learning and Development Manager developing departmental trainers ensuring that all managers and supervisors take an active role in the training and development of employees.
- To assist in the building of an efficient team of Heartists through multi skilling, multi tasking and flexible scheduling and by taking an active interest in their welfare, safety and development.
- To conduct yearly performance appraisal and give Heartists regular feedback on their job performance and drive with the Talent and Culture their development and growth.
- To support the departments in effective rostering
- To ensure that all Heartists provide a courteous and professional service at all times.
- To project at all times a positive, motivated attitude and exercise self control.
- Change Management. Generates activity and seeks new challenges to improve work performance. Demonstrate an optimistic outlook
- Encourages a culture of continuous personal and work related improvement through own actions and ensures learning from success & failures, guides and coaches staff.
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