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Revenue Manager
3 months ago
**Job Description Summary**
The Revenue Manager is responsible for maximizing revenue opportunities through the development and implementation of effective short and long-term inventory and pricing strategies based on future demand forecast, current and historical trends. The role is responsible for effectively implementing pricing strategies and e-commerce tactics, along with the development of future demand forecasts and budgets for a select group of properties. Excellent analytical and problem-solving skills are required. Responsibilities also include the monitoring and managing of inventory via multiple distribution channels including, but not limited to, GDS, CRS and Web. The position's success will be measured by ensuring that all efforts are made to maximize production from all channels to maximize market share, EBITDA and achieve company's revenue objectives.
Responsibilities include:
Work Environment Remote position primarily working at a desk from home.
Physical Demands Working online, facilitating conference calls, traveling to hotels.
Expected Hours of Work Full-time management position.
A strong command of both written and spoken English is required.
Travel: 10-30% of the time depending on how large the market they support and distance between the hotels in the market cluster.
Education and Experience: Bachelor’s degree preferred and 3 years' experience in hotel revenue management in a leadership role.
Multiple hotel and hotel type (Full-Service, Extended Stay) preferred.
**Principle duties and responsibilities (Essential Functions) include**:
**Management**:
- Lead the revenue management efforts for a defined “market” of hotels.
- This is a combination of individual contribution of the duties and responsibilities as well as, where applicable, the management a team of managers and coordinators to assist in this effort.
- Ability to effectively work, collaborate, and lead strategic changes with other discipline leaders effectively.
- Where applicable, hire, train, and develop Revenue Managers and Revenue Analysts to aid in the revenue management support of hotels within the defined market.
**Forecasting**:
- Short
- and long-term forecasting for hotel and competitive set.
- Analyze trends in inventory to include occupancy, rates, product line and strategic sales goals.
- Prepare revenue management reports and information for Owners, Corporate Office, General Managers, and all related meetings.
- Prepare all weekly, monthly, three month and annual forecasts, using the hotel’s applicable PMS, sales, and forecasting systems.
**Critical Analysis of Strategies, Room Statistics & Demand**:
- Review end of month room statistics reports from the hotel’s PMS and RMS systems and provide critical analysis on performance vs. forecasts and result of implemented strategies (“month-end critique.”)
- Conduct displacement analysis of group business, as needed, to determine impact potential business will have on RevPAR.
- Complete weekly booking pace reports and analysis on pace, recommending strategy changes when needed.
- Analyze past and present trends and make recommendations for future strategies
**Management & Maintenance of Group & Transient Inventory Controls**:
- Daily review and implementation of transient rate strategy via RMS and CRS systems.
- Review all tentative and definite group bookings, to ensure that they support implemented strategies.
- Ensure group inventory and cut-off dates are managed according to demand.
- Maintain accurate demand information in the RMS and PMS systems.
- Work with General Manager and Operations Manager on oversell levels.
**Develop, monitor, and adjust sales and pricing strategies**:
- Conduct weekly sales strategy meetings where the appropriate booking period is evaluated for the proper rate and availability control.
- Review weekly and monthly sales data for the 365 day window, to include: group rate, extended stay rates, transient demand and forecasted updates.
- Develop annual transient pricing. Ensure pricing is consistent in all distribution channels (CRS, GDS, OTA).
**Competitive & Demand Analysis**:
- Review all competitive shops on a consistent basis (at least once a week) and identify selling strategies and market trends.
- Review demand calendars, convention calendars and city event calendars to keep abreast of all demand generators.
- Site competitive set and network competitive set Revenue Manager.
- Produce and maintain twice a year the value assessment for your competitive set.
- Maintain historical data on events and performance on any promotions during demand-generating events.
**Qualifications and Skills**
- Relevant multiple hotel revenue management experience.
- As a remote team member, you need to be results-driven, proactive self-starter that can work collaboratively with other remote team members and stakeholders.
- Experience in operational management with salaried and hourly employees.
- Proficient in hospital
