Director of Revenue Management

Summary

Responsible for maximizing hotel revenue and profit through the development and implementation of effective transient and group inventory and pricing strategies based on future demand forecast and analysis of current and historical trends. Recommends and maintains all levels of pricing and distribution of inventory. Oversees the processes and systems associated with maximizing revenue from forecasted demand and opportunity analysis to include seasonality, competitive positioning and segmented displacement factors. Ensures all strategies are effectively implemented.Monitors competitive analysis, identifies future opportunities and reports any anomalies to Managing Director

Essential Duties And Responsibilities

• Makes solid strategy recommendations and refines as appropriate to exceed revenue goals and budgets and to increase RevPAR
• Analyzes the hotels place in competitive market to determine volume potential, and price structure for segments
• Ensures all rates and inventory are loaded appropriately and distribution maintenance is correct
• Sets and manages appropriate yield controls to maximize the hotelrevenue from all distribution channels
• Works closely with Director of Sales for budgeting group rooms, group pricing
• Accurate preparation and analysis of market segmentation and pace reports, business mix contribution reports, production reports, daily pick-up reports, and any other necessary reports as may be assigned by the Managing Director
• Conducts audits to guarantee the proper sell strategy including pricing and restrictions is set correctly in all channels
• Coordinates with marketing team for various packages, promos and/or activities to further enhance revenue potential.
• Manages accurate monthly and/or quarterly forecasting
• Directs along with the marketing team for various packages, promos and/or activities to further enhance revenue potential
• Participates in sales review meetings to help analyze group pick-up reports, upcoming group cut-offs, group pricing, group displacement and group pace reporting
• Prepares for weekly transient review meetings, with all revenue management reports, systems information and takes meeting notes for other related meetings such as weekly sales strategy meeting
• Monitors, analyzes and reports daily or weekly changes through price shop reports and the competitive set(s) websites to help identify selling strategies and market trends
• Monitors and evaluates market demand trends using weekly and monthly Star report analysis
• Makes recommendations to ensure that strategies and inventory or rate restrictions are implemented, communicated and modified as market conditions fluctuate
• Oversees the management of all channels and links including brand websites, CRS, PMS, OTAs and GDS for pricing, inventory and content of all business segments
• Uses all available tools and resources to determine, implement and control selling strategies
• Maintains accurate reservations system information in SMS and CRS
• Provides recommendations to improve effectiveness of the revenue management processes
• Works closely with Front Office Managers and Reservations Manager to ensure sell-out strategies are in place
• Assists with the communication of brand initiatives, demand and market analyses to Sales Strategy Team.
• Works closely with Managing Director to develop the annual rooms and pricing budgets