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Area Profit Optimization Manager

2 months ago

Delray Beach, Florida, United States Opal Collection & Affiliates Call Center and Revenue Office Full time
Job Overview

The Area Revenue Manager is responsible for formulating and implementing strategic plans across various market segments to enhance occupancy rates, Average Daily Rate (ADR), and Revenue Per Available Room (RevPAR) for a portfolio of properties. This position requires a thorough analysis of market dynamics, demand forecasting, and the application of revenue management systems.

Key Responsibilities:

  1. Revenue Enhancement:
  • Design and execute revenue management initiatives aimed at maximizing financial performance.
  • Assess historical performance, market trends, and competitive pricing to inform pricing strategies.
  • Review past outcomes and devise future approaches.
  • Implement flexible pricing strategies, adjusting room rates and restrictions based on market fluctuations and demand predictions.
  • Forecasting and Financial Planning:
  • Generate precise demand forecasts and track performance against financial objectives.
  • Modify forecasts in response to evolving market conditions and operational performance.
  • Establish revenue strategies that align with forecasted outcomes.
  • Conduct daily forecasts segmented by market.
Market Insights:
  • Perform ongoing evaluations of market trends, competitor actions, and industry standards.
  • Identify avenues for revenue enhancement and adjust strategies accordingly.
  • Remain informed about local events and other factors influencing demand.
Inventory Control:
  • Manage room inventory distribution and oversee revenue channels to optimize financial results.
  • Collaborate with inventory teams to implement overbooking strategies and manage room availability.
  • Ensure peak performance across all booking platforms, including direct bookings and third-party channels.
Performance Evaluation:
  • Track essential performance metrics such as RevPAR, ADR, and occupancy rates.
  • Compile and present regular revenue performance reports to stakeholders.
  • Adjust revenue strategies based on performance metrics and market developments.
Team Collaboration:
  • Partner with property teams to create and implement promotional initiatives.
  • Coordinate with front office and reservations teams to ensure consistency in pricing and availability.
  • Offer guidance to hotel personnel on revenue management techniques and strategies.
    • Establish group pricing strategies in collaboration with sales departments.
  2. Technology Integration:
  • Leverage revenue management systems and analytical tools to derive insights and make informed decisions.
  • Stay abreast of technological advancements in revenue management and suggest enhancements as necessary.

Qualifications:

  • Bachelor's degree in Hospitality Management or relevant certification is advantageous.
  • Demonstrated experience in a Revenue Manager role or similar within the hospitality sector.
  • Strong analytical capabilities with expertise in revenue management systems and data analysis tools.
  • Exceptional communication, organizational, and interpersonal skills.
  • Ability to work autonomously under pressure and make informed, data-driven decisions.
  • Proficiency in Microsoft Excel, including formulas, pivot tables, and data automation.
  • Strong commitment to achieving performance goals and driving success.

This position is based in a designated location and is not remote.