We are currently searching for a Revenue Manager to join our team! This would be a REMOTE position based on where the ideal candidate is currently located.
The Revenue Manager is a vital role that is responsible for maximizing revenue, profit, market share, and achievement of top line budget for multiple hotels by overseeing all processes associated with demand, revenue, forecasting, budgeting, pricing, inventory management, online exposure, and opportunity analysis. Works closely with the hotel GM and DOS to develop the hotel's sales strategy and ensure implementation. Identifies future revenue opportunities and effectively communicates strategies to the sales organization.
The Revenue Manager will report to the Corporate Director of Revenue Management along with the property General Managers. Close coordination and interaction will occur with the VP and RVPs of Sales as well as the VP and RVPs of Operations.
The Revenue Manager responsibilities include:
- Manage and maximize room revenue through inventory control, pricing, mix of business strategies.
- Analyzing and presenting reports and financial data.
- Analyze economic trends to determine the demand for hotel reservations based on tourism and business travel
- Monitors the market and competitor pricing.
- Understands the market, demand generators, and how to adapt to current conditions.
- Generate and leads weekly revenue meetings including reports, areas of issues and opportunities, and action items.
- Monitors group blocks, inventory, pick up, and cut off dates.
- Develops hotel pricing and mix of business strategies.
- Determines the hotel forecast.
- Assists in developing the hotels budget and monthly financial review.
- Assisting in creation of promotional campaigns
- Develops relationship and works with account representatives from OTAs.
- Recommending and coordinating pricing and positioning for hotels.
- Provides critical analysis on decisions effecting pricing, occupancy, revenue goals and sales strategies.
- Continuous assessment of all competing hotel brands and revenue management practices to gain insight on demand and adjust strategies.
- Provides market strategy expertise and leadership to property leadership teams and sales leaders. Supports property team in developing strategies and action plans.
- Establishes and maintains effective and rational pricing strategies.
- Oversees the annual pricing process.
- Assist with rate loading, group business evaluation and displacement analysis.
- Utilize tools like Agency360, Demand360, Rate360, etc. to assist in revenue and sales strategies.
- Ensures hotel strategies meet all brand requirements and initiatives.
- Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
- Prepares strategy meeting agenda, supporting documentation.
- Leads weekly Revenue Management meetings involving rate and inventory strategies, transient/group pace, segmentation, competitive business analysis and forecasts.
- Utilizes interpersonal and communication skills to lead, influence, and encourage others; advocates sound financial/business decision making; demonstrates honesty/integrity; leads by example.
- Understands and meets the needs of key stakeholders (guests, corporate, owners, etc.).
- Provides short and long term revenue forecasts and generates critiques, identifying areas of opportunity to improve revenue and profitability.
- Establishes long-range objectives and specifies the strategies and actions to achieve them.
- Works closely with Sales and Marketing for business opportunities, aims to increase profitability of the organization.
- Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
- Thinks creatively and practically to develop, execute and implement new plans and strategies.
- Review and analyzes month-end and other data to identify trends and potential hurdles.
- Monitor and analyze forecast accuracy. Continuous improvement on forecast accuracy.
- Evaluates effectiveness of property participation in each OTA and online channels.
- Maintain strong relationships with third party market managers on behalf of all the hotels
- Assists with annual RFP season, analysis of Special Corporate Pricing Tool, and corporate pricing strategy.
- Establishes and maintains open, collaborative relationships with colleagues and property teams and ensures employees do the same within the team.
- Complete brand systems training and perform brand system and distribution channel audits to ensure proper rate plan restrictions and strategies are in place.
- Perform other duties as requested by management.
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