Revenue Manager
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Key skills for this role
About the Role
EDITION Hotels seeks a Revenue Manager to maximize transient revenue and manage rooms inventory. The role involves analyzing sales data, setting pricing strategies, and coordinating with cluster properties.
Key Skills for This Role
Responsibilities
- Maintain transient rooms inventory and maximize transient revenue
- Release group rooms back into general inventory and ensure clean booking windows
- Recommend pricing and positioning of cluster properties
- Oversee inventory management system to verify selling strategies
- Compile, analyze, and monitor actual sales against projected sales
- Generate reports, presentations, and updates on transient segment
- Conduct sales strategy analysis and refine to increase market share
- Communicate rate restrictions and strategy with properties
- Manage rooms inventory to maximize cluster rooms revenue
- Assist hotels with pricing and provide input on business evaluation
Requirements
- 2 year degree from an accredited university in Business Administration, Finance, Accounting, Economics, Hotel and Restaurant Management, or related major with 3 years experience in revenue management, sales and marketing, or related professional area; OR 4 year bachelor's degree in same fields with 1 year experience
- Experience in revenue management, sales and marketing, or related professional area
Full Job Posting
Job Summary
- Maintains the transient rooms inventory for the hotel(s) and responsible for maximizing transient revenue.
- Releases group rooms back into general inventory and ensures clean booking windows for customers.
- Recommends pricing and positioning of cluster properties.
- Oversees the inventory management system to verify appropriateness of agreed upon selling strategies.
Education And Experience
- 2 year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 3 years experience in the revenue management, sales and marketing, or related professional area.
- OR 4 year bachelor's degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 1 year experience in the revenue management, sales and marketing, or related professional area.
Analyzing and Reporting Revenue Management Data
- Compiles information, analyzes and monitors actual sales against projected sales.
- Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Analyzes information and evaluates results to choose the best solution and solve problems.
- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Generates and provides accurate and timely results in the form of reports, presentations, etc.
- Conducts sales strategy analysis and refines as appropriate to increase market share for all properties.
- Maintains accurate reservation system information.
- 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.
- Assists with account diagnostics process and validates conclusions.
Executing Revenue Management Projects and Strategy
- Updates market knowledge and aligns strategies and approaches accordingly.
- Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
- Attends meetings to plan, organize, prioritize, coordinate and manage activities and solutions.
- Establishes long range objectives and specifying the strategies and actions to achieve them.
- Takes a predetermined strategy and drives the execution of that strategy.
- Demonstrates knowledge of job relevant issues, products, systems, and processes.
- Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
- Explores opportunities that drive profit, create value for clients, and encourage innovation.
- Provides revenue management functional expertise to cluster general managers, leadership teams and market sales leaders.
- Ensures hotel strategies conform to brand philosophies and initiatives.
- Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
- Prepares sales strategy meeting agenda, supporting documentation.
Building Successful Relationships
- Develops and manages internal key stakeholder relationships in a proactive manner.
- Acts as a liaison, when necessary, between property and regional/corporate systems support.
Additional Responsibilities
- Informs and/or updates the executives, the peers and the subordinates on relevant information in a timely manner.
- Attends staff/forecast/long range meetings as requested by properties.
About EDITION Hotels
- EDITION Hotels combine the visionary genius of boutique hotelier Ian Schrager, the service delivery of a world class luxury hotel, and the global reach of Marriott International.
- EDITION delivers polish with personality, perfectionism with individualism, and comfort with charisma and charm.
- The brand targets sophisticated, knowledgeable consumers who understand quality, originality, design, and service excellence.
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