Director of Revenue Management

4 days ago

Burbank California United States OSO Collection Full time

Join the Hotel Burbank family and help lead Southern California’s latest and greatest lifestyle destination for everyday adventure seekers and bright-minded movers and shakers. We’re launching a collection of new options to fuel every kind of California dream—and we’re looking for a colorful character to be a key leader of our growing team.


Job Summary:


Director of Revenue Management compiles and analyzes detailed revenue information for an organization. Monitors economic conditions and conducts revenue forecast analysis, suggest strategies to boost revenue. A Revenue Manager reviews organizational billing practices to ensure invoice accuracy and proper revenue recognition. Prepares weekly, monthly, quarterly and annual reports for management. 


Duties and Responsibilities:


  • Practice OSHA (Occupational Safety and Health Administration) standards and comply with all company safety policies and procedures
  •  Manages OTA channels to ensure rates, photos, hotel policies, and descriptions are updated and displayed correctly. 
  •  Assists with running daily pick up reports, opening and closing rates, and managing inventory and pricing.
  •  Builds all rate codes offered at the property; both public and confidential. 
  • Creates and manages all Negotiated/Corporate/consortia rate codes, and submits all rate loading instructions to Sabre to ensure rates are visible in GDS. 
  •  Assists the sales team in entering all group reservations into perspective blocks, and setting up all routing and billing instructions accordingly. 
  •  Works with accounting team to settle group billing, double check and process commissions for Travel Agents and OTAs, as well as sending final folios and handling any disputes on transient guest bills. 
  • Analyzes rate production, channel production, corporate production and STR report on a weekly basis. 
  • Prepares any reporting requested by Consultant or Corporate team which include, market segment statistics, reservation statistics, booking trends and promotional production, etc
  • Monitor market trends and keep a close eye on the actions of rival hotels. Analyzing competitors’ pricing, promotions, and marketing strategies helps revenue managers identify opportunities 
  • Implement revenue management operations, procedures and best practices.
  • Identify new revenue opportunities.
  • Optimize and expand distribution partnerships.
  • Challenge and influence hotel to improve service level and operational standards.
  • Oversee revenue management and distribution strategy of the hotel and manage day to day yield operations
  • Daily pick-up analysis, strategy adjustments and reporting
  • Perform competitive benchmark studies and follow market trends
  • Create and maintain a rolling demand calendar
  • Provide a weekly dynamic forecast of expected results, variances and budget comparisons
  • Manage and oversee strategy for all 3rd party distribution
  • Responsible for assessing, analyzing and pricing group business strategies
  • Analyze overall monthly hotel performance and provide a summary report with recommendations to improve long-term strategies
  • Ensure all related systems are configured correctly, validated and working to full capacity
  • Ensure web site booking process is maintained up-to-date and functional
  • Regularly check the input and the quality of data (segmentation, denials tracking, etc…) points
  • Conduct quarterly property performance reviews and develop strategic and tactical action
  • Responsible for best practice standards to include: competitor analysis; environmental scanning; market modeling; distribution yield management; business mix yield management; length of stay yield management; inventory availability by channel; pricing control and new pricing concepts
  • Evaluate the performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…)
  • Reduce the cost of distribution by finding new less expensive means of delivering business
  • Prepare an outline for and support the annual revenue budget process
  • Comply with all federal, state and local regulatory guidelines and laws
  • Revenue Strategy: Crafting and implementing innovative pricing and inventory strategies to maximize revenue while maintaining competitive pricing. Listing and managing all properties with OTA's and working to increase direct bookings.
  • Market Analysis: Staying ahead of market trends and identifying opportunities to capture market share. Managing OTA's and negotiating the best commissions. Keeping commissions as low as possible. Managing Google Ads to drive direct bookings.
  • Distribution Management: Managing online distribution channels, ensuring rate parity, and optimizing inventory allocation. Managing Travel Ads, & Promotions with OTA's.
  • Google Ad Management- Expertise in placing effective ads, able to track and report results.
  • Forecasting: Developing accurate revenue forecasts and collaborating with various departments to align resources with demand.
  • Performance Analysis: Regularly monitoring and analyzing key performance indicators (KPIs) to make data-driven decisions. Daily reporting to start, then meeting with management weekly to discuss ADR's, occupancy, weekly pick up, etc...
  • Team Collaboration: Working closely with the sales and marketing teams to develop packages, promotions, and sales strategies that drive revenue growth.
  • Perform other duties as assigned 


Minimum Qualifications:


  • High school graduate with secondary education or specific  employment experience.
  • Ability to provide excellent verbal and written communication with guests, hotel staff etc.
  • Ability to compute mathematical calculations and analyze collection trends.
  • Strong organizational skills
  • Computer proficiency (MS Excel and MS Word)
  • Experience in billing format and invoicing
  • May be required to work nights, weekends, and/or holidays


Preferred Qualifications:


  • A Bachelor's degree in Hospitality Management, Business, or a related field.
  • Proven experience in hotel revenue management, with a track record of revenue growth.
  • Strong analytical skills and proficiency in revenue management tools and systems. Knowledge of various POS systems and channel partners.
  • In-depth knowledge of the hotel industry, market trends, and competitor analysis.


Physical Requirements:


  • Ability to carry, push, move and lift large, bulky and/or heavy objects up to 25 pounds
  • Ability to perform tasks that may require prolonged standing, walking repetitive bending, and other physical activities around the facilities
  • Consistent hand and wrist movements using keyboards to generate correspondence, reports, etc.


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