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Revenue Optimization Manager

2 months ago

Orlando, Florida, United States TownePlace Suites by Marriott Full time

About the Role:

We are seeking a highly skilled and experienced Director of Revenue Management to join our team at TownePlace Suites by Marriott. As a key member of our revenue management team, you will be responsible for maximizing overall room revenue for our hotels through the development, implementation, and execution of effective inventory and pricing strategies based on demand factors and competitor analysis.

Key Responsibilities:

  • Lead daily and weekly revenue strategy meetings to analyze market trends, competitor pricing, and demand patterns.
  • Develop and implement revenue management strategies to maximize room revenue, including analysis of historical data, market trends, and competitor pricing.
  • Manage revenue by segment, with a focus on achieving consistent goal achievement.
  • Conduct daily strategic and direct inventory management to include analysis and tracking of daily pickup, turndowns, market pricing, inventory strategies, and demand pattern changes.
  • Maintain a weekly transient pace that extends out 60 days and is stored on the company database.
  • Contribute to the preparation of a rooms forecast, day by day, 90 days out, maintaining accuracy of 4% or less.
  • Prepare for and participate in monthly ownership meetings to present revenue management strategies and results.
  • Work collectively with the Director of Sales & General Manager to maximize hotel revenues.
  • Consistently monitor inventory and influence demand in this ever-changing market.
  • Execute displacement models for large programs, such as 6 months or longer, to make sound decisions.
  • Ensure that all merchant, retail, opaque, or bundled channels are in alignment with strategy.
  • Mentor the team on effective package creation, including partners in the community, value offerings, and seasonal demand generation.
  • Review the month-end brand Reservations reports to identify any challenges to the booking process from the respective Brand Reservations office.
  • Review the AG360 weekly to identify opportunities for demand generation or share enhancement to be provided to the sales team.
  • Understand all current brand promotions to identify which ones would best fit the hotel strategy objectives.
  • Be knowledgeable of occupancy, average rate, and REVPAR goals, including ranking and penetration goals.
  • Monitor the brands RFP Process to ensure timely participation and effective account execution relative to pricing, pattern, and production.
  • Maintain basic knowledge of PMS systems and reporting for all hotels that relate to revenue reporting in order to ensure accurate segment tracking, package setup, and adjustment tracking.
  • Provide specific monthly critiques relative to STR performance.
  • Maintain positive and constructive relationships with Hotels Leaders, Regional Teams, Corporate staff, and all Brand Liaisons.
  • Assist with the Marketing Plan relative to Revenue Management Statistics.
  • Monitor action plans objectives relative to hotel-defined strategy in order to meet financial objectives quarterly.
  • Ensure that strategies are aligned with the needs of the hotel and demand trends in the market.
  • Ensure the special event calendar from the Marketing Plan is reviewed and updated monthly.
  • Review of DaySTAR and monthly STAR reports for analytical assessment with Corp Sales team to track effectiveness of current sales initiatives.
  • Ensure that the GRC totals in Delphi are in parity with group data in the CRS systems.

Requirements:

  • Both Marriott and IHG revenue management experience is a must.
  • Orlando market experience is preferred.

Benefits:

We offer competitive wages and our full-time associates are eligible to enroll in our comprehensive benefit package, which includes medical, dental, vision plans, complimentary life insurance with options for enhancements, ST/LT disability offerings, a 401K plan with company match, tuition assistance, plus training & development as well as career advancement opportunities.