Revenue Manager manages rooms and function space inventory and ensures inventory is allocated and restricted properly to maximize revenue and profits for hotels in the market. Responsible for building rates, packages and hotel sales strategy information in the hotel(s)' inventory systems. The position makes pricing and positioning recommendations for market hotels. Conducts analysis of revenue, profit and demand associated with hotel rooms and space inventory. Position contributes to forecasts, budgets, weekly and daily projections. Position critiques sales strategy effectiveness and prepares historical and future analysis of revenue and profit opportunities.
• Executing Revenue Management Projects and Strategy
• Manages room authorizations, rates and restrictions.
• 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
• Ensures that the hotel(s) sales strategies are effectively implemented in the reservation system and the inventory system.
• Prepares sales strategy critique.
• Monitors transient and group inventory daily to ensure straight-line availability and maximization of revenue potential for all brands.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Supports cluster selling initiatives by working with all reservation centers.
• Uses reservations system and demand forecasting systems to determine, implement and control selling strategies.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Initiates, implements and evaluates revenue tests.
• Ensures compliance and participation in company promotions and eCommerce channels
• Ensures all hotels follow brand strategies that will maintain and/or increase the hotel(s) revenue per available room (RevPAR) and revenue per available square foot (RevPAS).
• Understands the working relationship between sales, reservations and property management systems.
• Participates in quarterly regional reviews
• Promotes and protects brand equity.
• 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.
• 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; challenges existing processes/systems/products to make improvements.
Analyzing and Reporting Revenue Management Data
• Compiles information, analyzes and monitors actual sales against projected sales.
• Creates long range forecast for rooms and catering by segment and updates forecast every period.
• Creates weekly forecast for property operations and staffing purposes
• 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.
• Provides revenue analysis functional expertise to general managers, property leadership teams and market sales leaders.
• Prepares forecasts of revenue, profit, demand and occupancy for rooms and function space three-month and six-month, long range and budget.
• Prepares revenue and profit opportunity analysis.
• Manages all revenue, profit and demand data associated with rooms and function space
• Develops and/or uses analytical tools and systems to maximize revenues and profit.
• 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.
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
Education:
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 & Marketing, or related professional area.
Or
4-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel & Hotel Management, or related major; 3 years experience in the revenue management, Sales & Marketing, or related professional area.
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