21 Director of Revenue Management Jobs in Jersey, NJ
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Canopy by Hilton Jersey City is Hiring a Director of Revenue Management Near Jersey, NJ
At the core of Canopy by Hilton’s culture is the Positive Stay Promise. An ideal Enthusiast sets the tone for creating the “Positively Yours” culture at our hotel and is committed to delivering the lifestyle experiences our guests want.
The beautiful Canopy Jersey City Arts District is looking for an exceptional candidate as its new Director of Revenue Management. Position Title- Director of Revenue ManagementReports to: Chief Enthusiast/General ManagerPosition Summary-As the Director of Revenue Management, you will be responsible for developing and implementing strategies to maximize ADR revenue and profitability for the organization. Your primary focus will be on optimizing pricing, inventory management, and forecasting to ensure the hotel performs at its highest potential in the selected comp set.Duties and Responsibilities:
- Develop and implement revenue management strategies to maximize revenue and profitability across all business channels including managed segments.
- Analyze market trends, competitor pricing, and customer behavior to identify opportunities for revenue optimization.
- Collaborate with sales, marketing, and finance teams to align revenue management strategies with overall business objectives.
- Oversee pricing strategies and policies to ensure they are competitive, maximize revenue, and reflect market conditions.
- Utilize Boast Hotels in conjunction with Hilton approved revenue management systems and tools to monitor performance, monitor and analyze data, and deploy necessary action plans.
- Lead the revenue forecasting process to provide accurate revenue projections and support budgeting and financial planning.
- Analyze all group bookings and assess the impact to occupancy, average rate and revenue including but not limited to displacement analysis.
- Monitor key performance indicators (KPIs) in BI Amadeus Tools related to revenue management and provide weekly, monthly, and quarterly reports to senior management.
- Assist in the development and mentoring of sales team and welcome desk managers to achieve the hotel’s annual business plan.
- Conduct weekly revenue meetings to review STR and provide updates and rate strategies for the future.
- Assist in annual budget planning.
- Stay informed about industry best practices, emerging trends, and technologies in revenue management to drive innovation and competitive advantage.
- Conduct regular pricing analysis and adjust pricing strategies as needed to respond to market conditions, competitive pressures, and customer demand.
- Develop and implement promotional strategies and discounting policies in accordance with the eCommerce budget plan and Hilton guidelines to drive revenue growth while maintaining profit margins and brand compliance.
- Collaborate with the marketing team to optimize pricing for different customer segments, products, and distribution channels.
- Lead cross-functional teams in revenue management initiatives, ensuring alignment with overall business objectives and strategies.
- Evaluate the performance of revenue management strategies and initiatives and make recommendations for continuous improvement.
- Stay informed about industry regulations, economic trends, and external factors that may impact revenue management decisions.
- Develop and maintain strong relationships with key stakeholders, including senior management, department heads, and external partners.
- Drive revenue growth through innovative initiatives, such as dynamic pricing models, revenue per available room (RevPAR) optimization, and upselling strategies.
- Complete a full onboarding schedule of Hilton Required Revenue Management curriculum to ensure a full understanding and application of the proprietary Hilton approved revenue systems.
- Upload and manage all rate loads, review audits and complete corporate profiles for all accepted accounts throughout the corporate RFP cycles.
- Proven experience in revenue management, pricing strategy, or related fields, with at least 5 years in a Revenue Management leadership role.
- Strong analytical skills with the ability to interpret data, identify trends, and make strategic recommendations.
- Excellent communication and interpersonal skills to collaborate with cross-functional teams and communicate complex concepts effectively.
- Proficiency in Microsoft Excel including but not limited to pivot tables, integrated worksheets, etc.
- Ability to work in a fast-paced environment, prioritize tasks effectively, and adapt to changing business needs.
- Strong leadership skills with a track record of building and developing high-performing teams.
- Bachelor's degree in business, finance, economics, or a related field; master's degree preferred.
Job Summary
Full Time
$148k-204k (estimate)
03/25/2024
04/23/2024
The job skills required for Director of Revenue Management include Revenue Management, Leadership, Initiative, Pricing, Analytical Skills, etc. Having related job skills and expertise will give you an advantage when applying to be a Director of Revenue Management. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Director of Revenue Management. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Director of Revenue Management positions, which can be used as a reference in future career path planning. As a Director of Revenue Management, it can be promoted into senior positions as a Revenue Cycle Director that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Director of Revenue Management. You can explore the career advancement for a Director of Revenue Management below and select your interested title to get hiring information.
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