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Director of Revenue Optimization

2 months ago

Lexington Kentucky, United States 21c Museum Hotels Full time
Job Description

Job Summary:

21c Museum Hotels is seeking a highly skilled and experienced Director of Revenue Optimization to join our team. As a key member of our revenue management team, you will be responsible for driving revenue growth and maximizing room revenue goals at each managed hotel.

Key Responsibilities:

  • Develop and implement new and evaluate existing transient and group inventory, channel, and pricing strategies to maximize RevPAR for each property.
  • Provide data analysis, strategy, and reporting to ensure that current and future revenue opportunities are identified.
  • Consult with DOSM and sales managers on rate/inventory suitability of potential group business.
  • Monitor competitive shop reports to maintain consistency with property level inventory strategies and pricing philosophy.
  • Monitor placement on all third-party booking sites and take action, as necessary, to improve ranking.
  • Lead weekly revenue meetings for each property and complete meeting recap reports.
  • Complete weekly pace reports.
  • Analyze STR on a weekly and monthly basis and provide feedback during weekly revenue meetings.
  • Continually monitor actions of competitive hotels and the market (product quality improvements, supply changes, pricing strategies, service offerings, etc.).
  • Analyze end-of-month reports to assist in the preparation of the monthly executive summary report.
  • Prepare annual room revenue day-by-day budgets for each property.
  • Prepare monthly rolling 90-day room revenue forecasts for each property.
  • Prepare 20-day occupancy forecast and send to department heads for scheduling purposes.
  • Work with FOM/DOO to perform ongoing training and build a positive relationship with the front office team.
  • Participate in monthly Area Director calls.
  • Collaborate with DOSM and marketing manager on new strategies for packages and promotions.
  • Ensure all new rate levels entered (negotiated, promotions, packages, etc.) are accurate in the CRS and PMS.
  • Perform regular booking audits of all channels for all rate levels.
  • Act as a system expert for your properties; ensure that each property team is using the PMS and reservations system correctly and provide ongoing training when necessary to ensure that historical data is kept clean and accurately reported.
  • Support the properties' integration into new reservations & revenue management technology and programs.
  • Troubleshoot systems-related issues quickly and work with the Area Revenue Coordinator to escalate until resolved.
  • Provide ad-hoc reporting and analysis as requested by property and corporate level senior leadership.
  • Continuously work with each property's operations team on special projects when needed (ex. Renovations, OOO rooms, etc.) and provide insight into revenue impact.
  • Ensure property has accurate content and photography on all booking channels and within the CRS; work with the Area Revenue Coordinator to complete updates, as necessary.
  • Actively participate and contribute to the annual brand strategy planning.
  • Keep up to date with trends and new concepts by reviewing industry publications and/or attending conferences.