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Director of Revenue Management

4 months ago

Santa Monica, United States InterContinental Hotels Group Full time

Director of Revenue Management - Regent Santa Monica Beach Opening 2024

Regent Santa Monica Beach—an IHG Hotels & Resorts (IHG) property—lands in Santa Monica in 2024 as the first destination in the Americas. The resort will set a new standard for modern upper luxury. Located steps from the famed Santa Monica Pier, the resort will celebrate the beauty of unexpected harmony through contrasts, delivering inspired stays through a blend of serenity and a touch of decadence. The resort will feature sumptuous rooms and suites, along with a stunning beachfront pool deck, a destination spa, and a wellness center. Additionally, Regent Santa Monica Beach will welcome guests for unforgettable epicurean experiences, including a restaurant concept created in collaboration with an acclaimed celebrity chef as well as a high-end artisanal marketplace. Job Summary We are seeking a highly skilled and experienced Director of Revenue Management to join our team. As Director of Revenue, your primary responsibility will be to lead and implement strategic market pricing and revenue management initiatives for our hotel.

The ideal candidate should possess a deep understanding of the luxury hotel market and the ability to identify and capitalize on maximizing revenue growth through effective utilization of systems, business processes, and industry best practices. Responsibilities: Overall responsibility for the development and maximization of rate and occupancy. Collaborate with the Sales Department to optimize meeting space usage, ensuring maximum revenue contribution for both Rooms and Banquet services. Strategically optimize segment mix of group patterns, rates, and transient rooms. Ensure measurable improvements for demand and availability, aiming to gain RevPAR share. Work collaboratively with each department to develop specific strategies for positive growth. Conduct analysis of citywide and special events, implementing Revenue Management strategies. Present revenue strategies, booking trends, and Key Performance Indicators (KPIs). Conduct weekly Revenue Management Meetings, providing insights on current booking periods and leading discussions on future strategies. Analyze and accurately forecast short and long-term business trends and demands. Optimize and monitor marketing channels, including national and local account production. Ensure effective support from all channels of distribution – Web, GDS, and Wholesale. Conduct a weekly Revenue Management Meeting to plan strategies for each market segment and sales channel. Update all channels of distribution as needed with rate or inventory restrictions. Maximize room utilization on all hotel room types and suites. Manage all definite and tentative group bookings to ensure profitability. Drive the business plan and Key Performance Indicator (KPI) trackers for overall hotel success. Monitor and analyze competition weekly through competitive shops, demand 360, and agency 360. Responsible for the maintenance of software programs contributing to revenue. Work on all Revenue Management projects and assist with the implementation of basics and standards. Foster a culture of Revenue Management throughout all hotel departments. Develop and implement succession planning for Revenue Management talent. Manage room and function space inventory, allocating and restricting inventory for optimal revenue and profit. Work closely with the Sales team on group rates, dates, and patterns, steering towards optimal time frames for the hotel. Prepare and present reports for hotel leadership, corporate teams, and ownership, demonstrating progress toward forecasted goals. Establish pricing levels in all segments and actively monitor group blocks for room availability. Monitor competitor strategies, analyze market dynamics, and present action plans to management. Assist in the annual hotel budget development and ongoing results analysis. Guide and train the Reservations and Front Desk teams to achieve Revenue Optimization. Collaborate with internal departments to address consistent issues and trends. Requirements: A minimum of five years experience as Director of Revenue, and within the luxury hotel industry. Knowledge of hospitality sales, marketing, and revenue management functions. Excellent oral and written communication skills Excellent organizational skills Proficiency in Microsoft Word, Excel, and PowerPoint. Proficient in statistical and competitive analysis. High-energy individual with a positive attitude. Strong interpersonal skills and understanding of professional business ethics. Ability to analyze and use operational, financial, and marketing data effectively. Understanding of hotel operations and alignment with their needs through the revenue department. Ability to work well under deadline pressure. Ability to develop and deliver effective presentations. Quick adaptability to a constantly changing market. What you can expect from us: The annualpay range for this role is $140,000.00to $175,000.00 . This range is only applicable for jobs to be performed at Regent Santa Monica Beach . This is the lowest to highest pay scale we in good faith believe we would pay for this role at the time of this posting. This position is eligible to participate in the Company’s Bonus Plan. We may ultimately pay more or less than the posted range, and the range may be modified in the future. A colleague’s pay position within the pay range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, seniority, geographic location, performance, shift, travel requirements, sales or revenue-based metrics, and business or organizational needs. Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that is allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law. Join us and you’ll become part of the global IHG family – and like all families, all our colleagues share some winning characteristics. As a team, we work better together – we trust and support each other, we do the right thing,and we welcome different perspectives. You need to show us you care, that you notice the little things that make a difference to guests as well as always looking for ways to improve. In return, we'll give you a competitive financial and benefits package which may include healthcare support, dental, vision, disability and life insurance support, and a matching 401k plan. Hotel discounts worldwide are available as well as access to a wide variety of discount programs and the chance to work with a great team of people. Most importantly, we'll give you the room to be yourself. IHG is an equal opportunity employer: Minorities / Females / Disabled / Veterans. At IHG, we’ve made a promise. As one of the world’s leading hotel groups, we’re here to deliver True Hospitality for Good. Making our guests and colleagues feel welcome, cared for, recognised and respected – wherever they are in the world. Want to be part of the journey? Regent is the epitome of modern luxury for the world’s most discerning travelers. Pushing the boundaries of refined living since 1971, Regent colleagues have set out once more to reimagine uplifting experiences that balance serenity and stimulation to heighten the senses. This, is new. This, is Regent. Let’s Go Further Together. Don't quite meet every single requirement, but still believe you'd be a great fit for the job? We'll never know unless you hit the 'Apply' button. Start your journey with us today.

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