Description

Position Summary:

The Revenue Manager assists the Corporate Director of Revenue Management and the

property in achieving revenue goals and enhancing market share through the development and

implementation of comprehensive hotel pricing and inventory optimization strategies. This role

involves analyzing hotel performance, pricing effectiveness, and market trends to identify

revenue opportunities and provide recommendations for pricing and inventory management

adjustments. The Revenue Manager is responsible for monitoring demand trends, booking

patters, pace, and market conditions, while also measuring the outcomes and effectiveness of

revenue improvement initiatives. The Revenue Manager is responsible for overseeing the

Reservations department and guiding the team in selling strategies, Forbes standards, and

training of new employees.

Duties & Responsibilities

Primary Responsibilities/Essential Functions:

1. Analyze and implement pricing strategies to maximize revenue across all segments and channels. Effectively manage room inventory to optimize revenue.
2. Analyze hotel performance metrics, booking trends and market conditions to identify revenue opportunities. Utilize data-driven insights to make informed pricing and inventory management decisions.
3. Prepare monthly and weekly forecasts for transient segments and groups, collaborating with the Corporate Director of Revenue Management. Monitor budget performance and adjust strategies as needed to achieve revenue targets.
4. Provide leadership and guidance to the Reservations team, ensuring exceptional customer service and efficient reservation processes. Implement training programs to enhance team performance and productivity.
5. Provide data for analyzing and evaluating specific business segments, accounts, market segment mix, room type demand, channel production, and geographical mix, identifying trends and patterns.
6. Stay informed about market trends, competitor activities, and customer preferences. Leverage market insights to develop innovative revenue generation strategies and maintain a competitive edge.
7. Contribute to the preparation of transient and group rooms budgets and the development of the hotel’s marketing plan.
8. Prepare and evaluate weekly and monthly revenue reports to track revenue performance, market share, and booking trends. Evaluate the effectiveness of revenue optimization initiatives and make recommendations for improvement.
9. Manage the Reservations team by actively coaching team members to achieve sales and service targets.
   1. Pushing incremental revenue (Food and Beverage outlets, Spa services, Recreation rentals, etc.)
   2. Monitor in-house and third-party lead generation and coach team to achieve conversions to completed bookings.
10. Collaborate with the Sales, Marketing and Operations departments to align revenue strategies with overall business objectives. Communicate effectively with cross-functional teams to ensure consistent execution of revenue initiatives.
11. Collaborate with the Marketing team to drive digital marketing initiatives and optimize direct channels.
12. Provide guest satisfaction by ensuring seamless booking experiences and personalized services. Implement guest-centric strategies to drive repeat business and enhance guest loyalty.
13. Work with the Group Sales team to define group ceilings, rate strategy and effectively communicate the hotel’s selling strategies to the team.
14. Monitor and maintain PMS and CRS interface health.

Other Responsibilities/Supportive Functions:

1. Regularly share and discuss analytical findings and strategies with the Corporate Director of Revenue Management.
2. Provide training, management and development to the Reservations team to ensure successful execution of revenue management efforts. Provide training to the front office team members on selling strategies and new promotions.
3. Adjust room rates and inventory allocation in real-time based on demand fluctuations and market dynamics.
4. Conduct regular competitive analysis to benchmark pricing, promotional offers, and value-added services against competitive set.
5. Optimize distribution channels, including online travel agencies, global distribution systems, and direct booking channels, to maximize revenue and minimize distribution costs. Manage relationships with third-party distribution partners.
6. Collaborate with the Front Office team to identify upselling opportunities.
7. Conduct regular audits and quality checks to ensure accuracy and consistency in reservation processes, pricing displays, and inventory management systems.
8. Supervise and lead the Reservations team with Food and Beverage and Special Event reservations
9. Manage contracts for extended stay guests (31 nights) including the negotiation of the room rate, applicable fees, contract signing and collection of payment.

Qualifications

Qualifications (relevant experience, education and training):

1. High school diploma or general education degree (GED), or equivalent combination of education and experience. Bachelor’s degree in hospitality desired.
2. Two or more years of related industry experience.
3. Possess solid knowledge of hotel service standards, guest relations and etiquette. Ability and experience in working in a high volume, time sensitive environment.
4. Completes all required training as scheduled.
5. Requires strong working knowledge of MS Office applications (including Excel and PowerPoint) and ability to learn and use telephone and computer systems used at the hotel. Experience with current web-based business intelligence tools.
6. Due to the cyclical nature of the hospitality industry, team members may be required to work varying schedules to reflect the business needs of the hotel. Work schedules will include working on holidays, weekends, and alternate shifts. Position requires working from property location.
7. Must maintain a clean appearance and professional demeanor.

Special Skills & Abilities/Mental and Physical Demands:

While performing the duties of the job the team member regularly sits for sustained periods of time and stands and walks occasionally when working with potential customers to present information and tour the property. The team member occasionally grasps objects such as presentation materials. The team member occasionally reaches by extending hand(s) and arm(s) in any direction while performing essential functions of the job. The team member frequently talks when communicating with current or potential clients and staff. The team member frequently needs to hear voices while interacting with potential customers, guests and staff. Many aromas and smells are present in the dining areas. Exerts up to 40 pounds of force occasionally, and/or up to 10 pounds of force constantly to move objects such as sales materials. The team member is required to have close visual acuity to operate a computer. The team member is required to have visual acuity to determine the accuracy, neatness, and thoroughness of the reports and contracts.

The team member is primarily subject to environmental conditions found working inside. The team member is occasionally subject to loud noise (or music) when working in or around the property. The team member is occasionally subject to atmospheric condition such as fumes, odors, or dusts.