Functions as the strategic business leader of Revenue Strategy for multiple properties. Responsible for maximizing revenue and profit associated with rooms and function space in the hotels. Position is accountable for pricing, positioning and inventory management of transient, group and catering in the hotels. Oversees all the processes associated with demand, revenue, forecasting, inventory management and opportunity analysis. Works with General Manager(s) and property leadership to develop and implement hotel sales strategy. Identifies future revenue opportunities and effectively communicates strategies to the sales organization. Responsible for the Property’s Reservations Department.
Education and Experience
• 2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 4 years of experience in the revenue management, sales and marketing, or related professional area.
• 4-year bachelor's degree in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 2 years of experience in the revenue management, sales and marketing, or related professional area.
CORE WORK ACTIVITIES
Managing Revenue Management Projects and Strategy
• Develops and executes strategic plans for all properties within portfolio.
• Provides market strategy expertise and leadership to general managers, property leadership teams and market sales leaders.
• Develops the Business Outlook Strategy.
• Determines sales strategies and communicates to market sales leadership, marketing teams and property leadership.
• Establishes and maintains effective and rational pricing strategies for rooms and function space.
• Monitors the annual pricing process for transient, group and catering rooms in addition to function space and audio-visual pricing.
• Develops Club & Suite pricing by segment and works with sales and marketing team on determining the correct selling strategy for each segment and tracks efforts on a monthly basis
• Provides critical input to market leaders for development of property and overall market sales strategy.
• Verifies hotel strategies conform to brand philosophies and initiatives.
• Verifies that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Manages inventory to maximize cluster rooms revenue.
• Assists hotels with pricing and provides input on business evaluation recommendations.
• Generates updates on transient segment each period.
• Verifies property diagnostic processes (PDP) are used to maximize revenue and profits.
• Initiates, implements and evaluates revenue tests.
Analyzing and Reporting Revenue Management Data
• Evaluates effectiveness of property participation in electronic sales channels.
• Analyzes competitive sets, price positioning, seasonality, mix and displacement on a continuous basis.
• Conducts sales strategy analysis and refines as appropriate to increase market share for all properties.
• Analyzes period end and other available systems data to identify trends, future need periods and obstacles to achieving goals.
• Assists with account diagnostics process and validates conclusions.
Managing and Conducting Human Resources Activities
• Develops, Mentors and Coaches the Inventory Managers at all properties to deliver all inventory management and respective core deliverables
• Verifies that all reservation enquiries that come to the hotel via telephone, email or fax are processed in a timely and accurate manner to capture demand data for the hotel.
• Verifies that the Reservation Team Leader is fully trained and is leading the reservation team agents to be able to meet company and brand Standards for all reservation enquiries.
• Schedules the staffing for the department to provide appropriate coverage.
Building Successful Relationships
• Works with Inventory Managers at each property to prepare Strategy Meeting Presentations and supporting analysis
• Identifies and communicates revenue and profit opportunities to property leadership teams and sales organization.
• Prepares sales strategy meeting agenda, supporting documentation and leads property and/or cluster meetings.
• Develops 6-month, 12-month and 2-year strategic action plans for management of cluster transient revenues.
• Works with Market VP, Market GM and property GMs to assist in pricing analyses for all products in Market.
• Develops and manages internal key stakeholder relationships.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.