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SalaryGENERAL PURPOSE
To strategically coordinate the revenue management processes and procedures for hotels in an assigned portfolio and to maximize each hotels room revenue. Must have Marriott Experience along with the following systems, Demand 360, One Yield, SFA Web. This is accomplished by managing and maintaining group and transient inventory controls, developing, monitoring and adjusting sales and pricing strategies, analyze demand factors, forecasting, competitive analysis, and maintaining distribution channel data integrity.
ESSENTIAL DUTIES/RESPONSIBILITIES
20 % Management and maintenance of group and transient inventory controls in each of the portfolio’s Central Reservation Systems and Property Management Systems.
- Direct strategic recommendations for each property Director of Sales and enact tactical deployment of initiatives. Assist in maintaining strategic rate and inventory controls of each property, as needed.
- Work with the Rooms and Sales departments as needed to ensure effective and efficient management of group inventory daily and provide direction when needed on cutoff date extensions and additions to inventory.
- Ensure the strategy of each property focuses and compliments with RevPAR and GOPAR .
15 % Developing, monitoring and adjusting sales and pricing strategies:
- Conduct weekly revenue management meetings for each hotel, providing global insight. Follow up with action steps agreed upon by the team.
- Conduct joint quarterly pricing and sales strategy meetings in conjunction with the remainder of the Management Company
- Consistently review Property Sales Systems reports, including the GRC, Backlog Reports, Lost Business Turndown Reporting and Regret/Denial Reports.
- Identify group booking trends and need periods for the five-year window and work with the Director of Sales to develop sales strategies.
- Coordinate and implement strategy updates for future high demand dates.
- Review and implement each property’s annual transient pricing and provide recommendations to property team.
- Review Tour and Travel and Business Travel pricing strategies and provide recommendations.
- Ensure incentive programs in Front Office are in place and focused upon for additional revenue generation.
- Ensure property participation and data integrity in all forms of e-Distribution Channels are in parity and properly deployed.
10% Marketing and eCommerce
- Identify marketing opportunities and work with the Director of Sales and Marketing to develop programs for the hotels, particularly focused on need periods.
- Implement and track marketing strategies and initiatives that promote revenue growth generation among key targeted segments and increase brand exposure and positioning.
- Utilizes data on feeder market, target audiences, competitive approach and market behavior to maximize performance.
- Facilitating partner, community and vendor relationships; coordinating special events; and collecting and analyzing data to improve marketing programs.
20 % Provide critical analysis of strategies, room statistics and demand factors:
- Review end of month room’s statistics reports including Forecast evaluations, Monthly Revenue Management Reports, Smith Travel Reports, e-Commerce Reports and additional demand reports, focused upon critical analysis of performance by channel and segment vs. forecasts and the results of implemented strategies.
- Prepare and analyze combined hotel reports on room and market share statistics report.
- Review opportunities for cross-selling hotels and relocating group business to provide way for additional room’s revenue opportunities among the portfolio of hotels.
- Review all weekly booking pace reports and analysis on pace, recommending strategy changes.
- When needed analyze past and present trends and make recommendations for future strategies.
15 % Forecasting:
- Assist in preparation and review all weekly and monthly forecasts for each property in the assigned portfolio.
- Participate in the preparation of all rolling forecasts and annual budget for each property using Innkeeper Hospitality Services Budget Tools and brand specific tools available.
- Work in conjunction with Director of Sales to ensure all Sales and Service Managers are trained on forecasting processes for their individual areas of focus.
10 % Competitive and Demand Analysis:
- Review all competitive shops in each hotels market and identify selling strategies and market trends.
- Shop hotels as well as competition through online channels to ensure proper positioning of each hotel and assess competitive environment.
- Review demand calendars, convention calendars and city event calendars to keep abreast of all demand generators. Ensure each property contact utilizes all necessary demand information when planning strategies.
- Network with competitive set Regional Revenue Managers to maintain information on the various competitive products and services for both primary and secondary competitors.
- Be knowledgeable of national and industry trends.
- Review of historical data on events and performance on any promotions during demand-generating events.
- Continuous brand training and latest revenue management trends.
10 % Administrative:
- Oversee the activities and development Revenue Analysts.
- Bi Annual visits to the properties in the assigned portfolio.
- Attend weekly Sales Meeting to maintain communication of strategies and need periods.
Job Requirements:
SUPPORTIVE FUNCTIONS:
In addition to performance of the essential functions, this position may be required to perform a combination of
the following supportive functions, with the percentage of time performing each function to be solely determined by the supervisor based upon the particular requirements of the company.
- Collaborate with all departments of the Hotel in concern of a total revenue approach.
- Answer other hotel team members’ questions regarding revenue management in a friendly and courteous manner.
- Provide training to other hotel team members on revenue management procedures and principles, as needed.
- Ensure all room’s statistics reports, including the Financial Statement, and any other related reports are accurate and consistent with reporting.
- Ensure all revenue management related systems are maintained, including: Property Management Systems, Revenue Management Systems, Forecast Management Systems, eCommerce Systems and additional technology as needed.
- Contribute to the development and update of the individual property marketing plan.
- Maintain an organized and clean work area and hotel environment.
- Communicate with Front Office Managers regarding anticipated occupancy and cross-selling opportunities
PHYSICAL REQUIREMENTS:
Frequency Key: Rare, Occasional, Frequent or Constant. For lifting enter estimated lbs. at 10, 25, 50 or 50+
Physical Activity Frequency
Sitting Constant
Walking Climbing Stairs Occasional
Crouching/Bending/Stooping Frequent
Reaching Frequent
Grasping Constant
Pushing/Pulling Occasional
Near Vision Constant
Far Vision Constant
Hearing Constant
Talking Constant
Lifting/Carrying (# lbs.) Occasional up to 25 lbs.
Travel Frequent
OTHER DUTIES:
Assimilate into the Innkeeper Hospitality Services culture through understanding, supporting and participating in all elements of events. Demonstrate working knowledge of the service standards.
ORGANIZATIONAL RELATIONSHIPS:
Positions directly reporting to this position (titles): Not Applicable
SPECIFIC JOB KNOWLEDGE, SKILL AND ABILITY:
The individual must possess the following knowledge, skills and abilities and be able to communicate and be able to demonstrate and perform the essential functions of the job, with or without reasonable accommodation.
- Excellent oral and written communication skills.
- Understanding of group and transient sales process and forecasting process.
- Excellent organization skills, manages time well, correctly prioritizes and is flexible with scheduling of hours.
- Ability to work well under pressure and meet deadlines.
- Ability to manage and influence outside departments and agencies.
- Strong interpersonal skills and possession of a full understanding of professional business ethics, decorum and social skills.
- Proficient in use of Microsoft Word, Excel and PowerPoint
- Understands GDS and Internet systems
- Understands Revenue Management theory and practice
- Ability to perform critical analysis
- Appropriate professional appearance and demeanor
- Comprehension of technical application of reservations system
- Full understanding of each hotel product and the market conditions
- Proficient in the use of portfolio brand associated systems
- Demonstrates self-confidence, energy and enthusiasm
- Ability to deliver presentations in a concise well-organized manner
- Team player
- Detail-oriented
- Must have flexible working schedule
- Have a good understanding of how to coach teammates to understand and fulfill the requirements needed.
QUALIFICATION STANDARDS EDUCATION:
High School Diploma or Equivalent
EXPERIENCE
- Minimum three years as Director of Revenue Management in Multi Brand full-service hotels.
- Prior experience with hotel industry revenue management, reservations and hotel property management systems required. Experience in Marriott software preferred.
LICENSES OR CERTIFICATES:
N/A
GROOMING:
All team members must maintain a neat, clean, and well-groomed appearance (specific standards available in Employees Handbook).
