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Revenue Optimization Specialist

2 months ago

Houston, Texas, United States ALH HOTEL SERVICES, LLC. Full time
Job Overview

Position Summary: The Revenue Optimization Specialist will report to the Vice President of Revenue Management. The primary objective of this role is to enhance revenue, market presence, and profitability across a portfolio of hotels by effectively coordinating revenue management strategies and practices. This position is crucial for fostering the advancement of customer service standards while driving revenue growth and profitability.

Key Responsibilities

Inventory Management:

  • Conduct daily assessments and execute room allocation and pricing controls within the Revenue Management System and/or Property Management System, including weekly roll-in control implementations.
  • Collaborate with the Sales team to ensure optimal management of group inventory, providing guidance on cutoff date extensions, inventory adjustments, and displacement analysis.
  • Participate in weekly group pickup meetings to assess performance.
  • Establish and review blackout dates in the Revenue Management System monthly to ensure accuracy.
  • Maintain precise demand data within the Revenue Management System.
  • Work alongside property teams to implement sellout strategies and ensure daily balance between the Property Management System and Revenue Management System.
  • Ensure daily reconciliation of OnQ FMS and the General Ledger concerning past actuals.

Sales and Pricing Strategy Development:

  • Engage in weekly revenue management meetings, covering standard agenda items such as 365-day booking window analysis for group and transient segments, pricing strategies, marketing initiatives, and competitive landscape evaluations.
  • Review daily reports, including detail, pickup, and overrides, addressing concerns and formulating action plans with property teams.
  • Develop annual transient pricing strategies in collaboration with the Vice President of Revenue Management, ensuring consistency across all distribution channels.
  • Advise the Corporate Director of Revenue Management on marketing opportunities, particularly during high-demand periods.
  • Review and implement incentive programs within Front Office and Reservations, focusing on peak demand periods.
  • Perform all essential functions of the Revenue Management Analyst as required.
  • Provide training to property team members and Revenue Analysts on key aspects of Revenue and Yield Management.

Performance Analysis:

  • Analyze end-of-month room statistics reports, including FMS, Monthly Revenue Management Reports, STAR, and Key Hotel Marketing Reports, providing critical assessments of performance against forecasts and the effectiveness of implemented strategies.
  • Conduct displacement analyses for group business to evaluate potential impacts on RevPAR.
  • Review all tentative and confirmed group bookings to ensure alignment with established strategies.
  • Compile weekly booking pace reports and conduct analyses, recommending strategy adjustments as necessary.
  • Examine group performance against contracts and forecasts.
  • Analyze historical and current trends to inform future strategies.

Forecasting and Market Analysis:

  • Collaborate with the Vice President of Revenue Management to prepare Weekly, Monthly, Rolling Forecasts, and Annual Budgets.
  • Review daily competitive analyses to identify selling strategies and market trends.
  • Stay informed about demand generators by reviewing demand calendars, convention schedules, and city event calendars.
  • Maintain historical data on events and assess the performance of promotions during these demand-generating occasions.
  • Participate in the training and development of Revenue Analysts.
  • Address inquiries from other hotel team members regarding revenue management in a professional manner.
  • Provide training on revenue management principles and procedures as needed.
  • Ensure accuracy and consistency in all room statistics reports, including the Report of Operations.
  • Attend property staff meetings and other relevant meetings as requested by management.
  • Maintain all revenue management systems, including OnQ RMS, OnQ FMS, OnQ PMS, DMPE/Delphi, and HIDB.
  • Collaborate with the Director of Sales, Director of Front Office, and Sales and Marketing Manager as necessary.
  • Contribute to the development of the marketing plan and annual budget.
  • Maintain an organized and professional work environment.
Qualifications

Required Experience:

  • A four-year college degree or equivalent work experience.
  • Prior experience in Revenue Management.
  • Certification in OnQ R&I and GRO.
  • Completion of IHG Revenue Management Certification Assessment/Full Service.
  • Experience in Front Office operations and Sales.

Preferred Certifications:

  • RMU Certificate.

Essential Skills and Abilities:

  • Strong oral and written communication skills.
  • Excellent organizational capabilities.
  • Ability to perform effectively under pressure.
  • Professional appearance and demeanor.
  • Proficient in delivering presentations in a clear and organized manner.
  • Skilled in statistical and competitive analysis.
  • Proficient in Microsoft Word, Excel, and PowerPoint.
  • Familiarity with GRO, OnQ RMS, OnQ R&I, and related systems or a capacity to learn quickly.
  • Experience or training in automated systems, personal computers, and software applications.
  • Background as a Revenue Analyst or related analytical experience is essential.

Physical Requirements:

The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this role. Reasonable accommodations may be made to enable individuals with disabilities to perform these functions.

While performing the duties of this position, the employee is regularly required to sit and may occasionally lift or move up to 10 pounds.

Work Environment:

The characteristics of the work environment described here are representative of those an employee may encounter while performing the essential functions of this role. Reasonable accommodations may be made to enable individuals with disabilities to perform these functions.

The noise level in the work environment is typically moderate.