Revenue Strategy Manager

3 weeks ago

Sarasota, Florida, United States Opal Collection Revenue Management Office Full time

Job Title: Area Revenue Manager

Job Summary:

Opal Collection Revenue Management Office is seeking a skilled Area Revenue Manager to develop and execute strategic revenue management plans for multiple properties. The ideal candidate will possess strong analytical skills, a deep understanding of market dynamics, and a keen ability to make data-driven decisions.

Key Responsibilities:

  • Revenue Optimization:
    • Develop and execute revenue management strategies to maximize hotel revenue and profitability.
    • Analyze historical data, market trends, and competitive pricing to make informed pricing decisions.
    • Evaluate past performance and develop future strategies.
    • Implement dynamic pricing models, adjust room rates and restrictions based on market conditions and demand forecasts.
  • Forecasting and Budgeting:
    • Create accurate demand forecasts and monitor performance against budgeted targets.
    • Adjust forecasts based on changing market conditions and business performance.
    • Implement revenue strategies that are reflected in forecasts.
    • Forecast daily by segment.
  • Market Analysis:
    • Conduct regular analysis of market trends, competitor activity, and industry benchmarks.
    • Identify opportunities for revenue growth and adjust strategies accordingly.
    • Stay updated on local events, holidays, and other factors that may impact demand.
  • Inventory Management:
    • Oversee room inventory allocation and manage distribution channels to optimize revenue.
    • Work with inventory teams to implement strategies for overbooking and managing room availability.
    • Ensure optimal performance of all booking channels, including direct bookings, OTAs, and GDS.
  • Performance Monitoring:
    • Monitor key performance indicators such as RevPAR, ADR, and occupancy.
    • Prepare and present regular revenue reports and performance analyses to the team.
    • Adjust revenue strategies based on performance data and market changes.
  • Collaboration:
    • Work closely with property teams to develop and execute promotional strategies.
    • Coordinate with the front office and reservations teams to ensure alignment on pricing and availability.
    • Provide guidance to hotel staff on revenue management practices and strategies.
  • Technology Utilization:
    • Utilize revenue management systems (RMS) and other tools to analyze data and make informed decisions.
    • Stay current with technological advancements in revenue management and recommend improvements as needed.

Qualifications:

  • Bachelor's degree in Hospitality Management or relevant certification is a plus.
  • Proven experience as a Revenue Manager or similar role in the hospitality industry.
  • Strong analytical skills with proficiency in revenue management systems, spreadsheets, and data analysis tools.
  • Exceptional communication, attention to detail, organizational, and interpersonal skills.
  • Ability to take initiative, work independently under pressure, and make data-driven decisions.
  • Aptitude to detect and solve problems quickly while managing time to adhere to strict daily/weekly/monthly deadlines.
  • Knowledge of market trends, competitive landscape, and industry best practices.
  • Excellent Microsoft Excel skills.
  • Strong sense of need for achievement of goals and success.

This position is not remote and will be performed in a specific location.

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