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Revenue Optimization Manager
2 months ago
A renowned luxury hotel located in the heart of a major metropolitan area is seeking a highly skilled Revenue Optimization Manager to join its team.
Key Responsibilities:- Market Intelligence: Conduct daily analysis of market and competitive intelligence to inform revenue strategies.
- Selling Restrictions and Inventory Controls: Review and update selling restrictions and inventory controls in the hotel's property management system (PMS) and central reservation system (C-RES).
- Rate Integrity: Authorize daily updates to selling restrictions in distribution channels (global distribution systems, third-party internet, etc.) to ensure rate integrity.
- Forecasting: Prepare 10/14-day forecasts for the hotel on a weekly basis, taking into account market trends, to ensure proper staffing and distribution to operational departments.
- Inventory Management: Monitor daily inventory and occupancy levels for the current month and the succeeding three months to alert the sales team of low or high occupancy for proper action plans.
- Technical Expertise: Maintain technical expertise on all relative components of the C-RES database (SynXis) and utilize those components to increase revenue per available room (RevPar).
- Forecasting and Reporting: Prepare 90-day forecasts monthly, in conjunction with the revenue strategy manager and group sales manager, for final submission to the team on the first week of the month.
- Industry Benchmarking: Submit data to industry-related sources for analysis and comparison, weekly and monthly, showing historical performance, enabling the sales team to benchmark against the competitive set.
- RevPar Index Goals: Complete annual RevPar Index goals with the executive sales manager.
- Special Rates and Promotions: Work with the team and marketing to formulate special rates and promotions.
- Revenue Budget: Formulate the hotel room revenue budget using a systematic approach, including day-by-day forecasts by segments, in conjunction with the executive sales manager.
- Revenue Growth: Set a clear path and ensure that all resources are utilized to maintain and/or increase RevPar Index.
- Business Review Meetings: Participate in daily/weekly business review meetings with the executive sales manager and sales team.
- RevMax Meetings: Conduct weekly RevMax meetings for the property and communicate any changes in sales strategy to the reservations team, ensuring compliance.
- Marketing Liaison: Liaise with marketing for branding position and placement for promotions and packages.
- Process Improvement: Continuously look to improve the revenue management process through the investigation of new tools, methods, and procedures, and implement changes accordingly.
- Top Accounts: Gather comprehensive knowledge of top accounts for the hotel, for our specific markets and new trends.
- Displacement Analysis: Conduct displacement analysis for groups and long-term business when required, review forecast report to check groups which are tentative and control room availability closed-out dates.
A competitive salary and benefits package.
