Director of Revenue Management

4 weeks ago

Boston, United States Five Star Quality Care, Inc. Full time

Key Responsibilities

The Opportunity

The Director of Revenue Management reports directly to the Office of the CEO and is responsible for defining, developing, and delivering a comprehensive revenue management program that drives rate governance, efficiency, that maximizes revenue across multiple senior living communities that are geographically dispersed across the United States. The ideal candidate will have experience in senior living, multi-family or hospitiality industry and possess a deep understanding of financial metrics, sales strategy, and execution. Excellent written and verbal communication skills are essential for this role.

Work Mode: 5 days in office working directly with the CEO.

What You'll Do

* Define, develop, and deliver a revenue management program that aligns with company objectives and maximizes revenue opportunities across our multiple, unique senior living properties.
* Take a dynamic approach to revenue planning that can flex on a regular basis with changes in market conditions; monitor daily, weekly and monthly internal and external trends to inform changes in strategies.
* Develop and execute pricing/rate strategies that drive revenue while remaining market competitive.
* Implement rate governance strategies to optimize pricing, occupancy, and revenue per available unit while ensuring alignment with sales and marketing efforts.
* Utilize revenue management tools and systems to analyze market demand, monitor competitor pricing, and forecast future revenue trends.
* Collaborate with sales and marketing teams to develop and execute revenue-driven sales strategies and promotional campaigns.
* Conduct regular reviews of pricing strategies, adjusting as needed to capitalize on market opportunities and drive revenue growth.
* Work closely with the finance/ Financial Planning and Analysis team to provide accurate revenue forecasts.
* Provide regular performance reports and updates to senior leadership, highlighting key revenue metrics, trends, and areas for improvement.
* Support communities with insights, tools and communications related to support any changes in rate strategies and ensures consistent application of revenue management standards.

What You'll Bring

* Proven experience in revenue management, pricing strategy, or related roles, preferably within the hotel, multifamily, or senior living industry.
* Experience working in environment with multiple units.
* Proven track record of success in developing and implementing revenue management programs that drive rate governance, efficiency, and revenue optimization.
* Strong understanding of financial metrics, sales strategy, and execution, with the ability to articulate how revenue management contributes to marketing and sales efforts.
* Excellent written and verbal communication skills, with the ability to convey complex concepts and strategies to diverse audiences.
* Strategic thinker with a data-driven mindset and the ability to translate insights into actionable revenue-generating initiatives.
* Detail-oriented with a high degree of accuracy and the ability to manage multiple projects and priorities in a fast-paced environment.
* Customer-focused with a passion for delivering exceptional service and experiences to our residents and guests.

Location Information

Five Star Senior Living's corporate headquarters are located in Newton, Massachusetts. Just 20 minutes outside of downtown Boston, the building features easy access to public transportation and the Massachusetts Turnpike.

Work Mode: 5 days in office working directly with the CEO.

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