Area Director of Revenue Management

3 weeks ago

Austin, United States HYATT Hotels Full time
Summary:
Area Director of Revenue Management

The Area Director of Revenue Management (ADORM) is responsible for maximizing overall hotel revenue through the implementation of effective pricing and distribution strategies across a cluster of hotels in the downtown Austin market. This leader will out-perform direct competitors by winning market share with a retail focused rational pricing approach, manage a distribution strategy backed by targeted marketing, and oversee hotel inventory to maximize topline revenue and yield high gross operating profit.They will manage and oversee revenue management analytical functions to inform strategy that supports the hotel business plan.The Area Director of Revenue will provide guidance and support for sales and marketing initiatives that are targeted to meet the needs of the hotel.In collaboration with other commercial leaders, The ADORM will produce accurate revenue forecasts that help set hotel goals and outperform the competition.The Area Director of Revenue will display leadership qualities that align with Hyatt's Leadership Expectations.

Position Responsibilities/Essential Functions

1. Oversee and guide the cluster revenue management and reservation teams to formulate transient and group inventory and pricing strategies to increase market share and maximize revenues for the hotel.

2. Implement sales strategy and pricing recommendations across all channels, Hyatt revenue systems, and market segments with a test and learn mindset.

3. Analyze the results of strategies and tactics deployed on a monthly basis. Provide all communication necessary to hotel teams, regional teams and ownership representatives.

4. Responsible for executing Hyatt corporate revenue management initiatives, and maintaining the standards outlined in the Americas Revenue Management Standards and Procedures manual.

5. Manage the relationship with major OTA market managers to ensure that the cluster is maximizing revenue and marketing exposure from each of our top partners

6. Work collaboratively with other commercial leaders on the budgeting and forecasting process for the cluster to ensure that the accuracy falls within Hyatt standards. This includes the 11-day, Monthly, and Annual forecast as needed. Prepare the Annual Budget for each hotel.

7. Work with the Director of Sales to develop and implement group pricing and inventory strategies for the entire group booking cycle.

8. Develop a pricing strategy for the business/leisure travel sales team based on demand projections and competitive shops. Partner with the Director of Sales to ensure that hotel strategy is implemented on an account-by-account basis.

9. Partner with each Director of Sales/Marketing to develop and implement the hotel SEO/SEM goals in conjunction with respective agency partners. Focus the teams on tactics that produce the highest revenue and return on investment.

10. Facilitate and lead weekly hotel Sales Strategy meetings in accordance with Hyatt Revenue Management standards

11. Facilitate Daily Business Review meetings in accordance with Hyatt Revenue Management standards.

12. Effectively manage and maintain Hyatt revenue management systems including Prio, Hyatt Pro, Reserve, Opera, Envision in accordance with Hyatt Revenue Management Standards.

13. Coordinate with the Front Office team to maximize performance from the following programs; Front Desk up-sell, sell out efficiency and other revenue management priorities.

14. Work closely with the Events team and lead a space revenue management strategy to ensure that hotel meeting space is properly utilized to optimize room and food and beverage revenue potential.

15. Represent the hotel by participating in and/or conducting industry functions in the region/state.

16. Develop working relationships with managers in the Group Sales, Event Sales, and Event Planning staff, providing consultation on strategies for booking optimal group and events business

Core Competencies

Teamwork - Fosters collaborative relationships with other Leadership Committee members and Department Heads in the hotels to effectively implement a wide range of revenue strategies. Able to educate others on sound revenue management strategies and principles.

Oral and Written Communications - Communicates effectively at all levels, including with hotel ownership groups, both verbally and in writing; responds appropriately to verbal and non-verbal cues; can succinctly get messages across that have the desired effect. Educates team members on the strategies and trends of the hotel and local lodging market as a whole.

Leadership - Matches leadership style to the needs of individuals and teams; delegates and provides guidance and coaching accordingly; anticipates and quickly addresses skill or behavioral gaps before they create performance issues; identifies and recognizes good performance; does not tolerate poor performance and works quickly to get employees back on track. Models and expects from others the behaviors identified in Hyatt's Leadership Expectations and Code of Business Conduct and Ethics.

Qualifications:
  • Minimum of 5 years' experience is preferred as a Director of Revenue Management

    •Technically skilled in managing all systems related to Revenue Management. These include but are not limited to Revenue Management Systems, Central Reservation Systems, Property Management Systems, Sales and Catering Systems, Cognos or another form of business intelligence tools.

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