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Director of Revenue Management
2 months ago
Job Category Revenue Management
Location The Ritz-Carlton New York Central Park, 50 Central Park South, New York, New York, United States VIEW ON MAP
Schedule Full-Time
Located Remotely? N
Relocation? N
Position Type Management
JOB SUMMARY
Oversees revenue management activities and managers within area of purview. Responsible for balancing the financial objectives of different lodging products to maximize total revenues and profit associated with guest rooms. Position is accountable for pricing, positioning and inventory of all hotels within area of purview. Oversees all processes associated with demand, revenue, inventory, forecasting and opportunity analysis. Develops and recommends sales strategy for pricing of the transient customer, wholesale, and group segments. Identifies new revenue opportunities and effectively communicates sales strategy and pricing to all key stakeholders. Acts as primary contact and maintains productive relationships with all stakeholders, including hotel General Managers, sales leaders, franchisees and owners.
CANDIDATE PROFILE
Education and Experience
• 2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 2 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; no work experience required.
CORE WORK ACTIVITIES
Analyzing and Reporting Revenue Management Data
• Analyzes information, identifies current and potential problems and proposes solutions.
• 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 and continually analyzes transient booking patterns.
• Assists with account diagnostics process and validates conclusions.
• Maintains accurate reservation system information.
• Checks distribution channels regularly for hotel positioning, information accuracy and competitor positioning.
• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Generates and provides accurate and timely results in the form of reports, presentations, etc.
• Observes, receives, and otherwise obtains information from all relevant sources.
• Submits reports in a timely manner, ensuring delivery deadlines.
• Analyzes weekly and monthly STAR information to assist in analyzing past strategies; identifies areas needing improvement, identifies competitor set strengths, and develops strategies to best capture available Market Share.
• Analyze STAR information to assist in development of RevPAR Index forecasts.
• Generates yearly room revenue budget.
Managing Revenue Management Strategy
• Provides critical input to property leaders for development of market sales strategy.
• Provides revenue management functional expertise and leadership to general managers, property leadership teams and market sales leaders.
• Initiates, implements and evaluates revenue tests.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Assists hotels with pricing and provides input on business evaluation recommendations.
• Assists in creating and verbalizing positioning and long-term strategies for all segments (group, transient, catering) that are in alignment with brand standards and property objectives.
• Provides recommendations to improve effectiveness of revenue management processes.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Ensures hotel strategies conform to brand philosophies and initiatives.
• Ensures Operation Teams are aware of current strategies and have the information needed to execute them (daily strategies, current day inventory management, and package inclusions).
Building Successful Relationships
• Communicates brand initiatives, demand and market analysis to hotels/clusters/franchise partners/owners.
• Communicates market direction to revenue management, sales and hotel leaders.
• Develops constructive and cooperative working relationships with others, and maintains them over time.
• Develops and manages internal key stakeholder relationships.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.
Additional Responsibilities
• Informs and/or updates executives, peers and subordinates on relevant information in a timely manner.
• Enters, transcribes, records, stores, or maintains information in written or electronic form.
• Works with other people to gather the information necessary to manage projects, achieve goals, and resolve problems.
• Demonstrates knowledge of job-relevant issues, products, systems, and processes.
• Provides information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
The salary range for this position is $164,000 to $208,000 annually. Marriott offers a bonus program, comprehensive health care benefits, 401(k) plan with up to 5% company match, employee stock purchase plan at 15% discount, accrued paid time off (including sick leave where applicable), life insurance, group disability insurance, travel discounts, adoption assistance, paid parental leave, health savings account (except for positions based out of or performed in Hawaii), flexible spending accounts, tuition assistance, pre-tax commuter benefits, other life and work wellness benefits, and may include other incentives such as stock awards and deferred compensation plans. Benefits and incentive compensation may be subject to generally applicable eligibility, waiting period, contribution, and other requirements and conditions.
The compensation and benefits information is provided as of the date of this posting. Marriott reserves the right to modify compensation and benefits at any time, with or without notice, subject to applicable law.
Marriott International is an equal opportunity employer. We believe in hiring a diverse workforce and sustaining an inclusive, people-first culture. We are committed to non-discrimination on any protected basis, such as disability and veteran status, or any other basis covered under applicable law.
At more than 100 award-winning properties worldwide, The Ritz-Carlton Ladies and Gentlemen create experiences so exceptional that long after a guest stays with us, the experience stays with them. Attracting the world's top hospitality professionals who curate lifelong memories, we believe that everyone succeeds when they are empowered to be creative, thoughtful and compassionate.
Every day, we set the standard for rare and special luxury service the world over and pride ourselves on delivering excellence in the care and comfort of our guests.
Your role will be to ensure that the "Gold Standards" of The Ritz-Carlton are delivered graciously and thoughtfully every day. The Gold Standards are the foundation of The Ritz-Carlton and are what guides us each day to be better than the next. It is this foundation and our belief that our culture drives success by which The Ritz Carlton has earned the reputation as a global brand leader in luxury hospitality. As part of our team, you will learn and exemplify the Gold Standards, such as our Employee Promise, Credo and our Service Values. And our promise to you is that we offer the chance to be proud of the work you do and who you work with.
In joining The Ritz-Carlton, you join a portfolio of brands with Marriott International. Be where you can do your best work, begin your purpose, belong to an amazing global team, and become the best version of you.
