Revenue Manager

Job Description: This position would report directly to the Vice President of Revenue Management. The main goal for this position is to maximize revenue, market share and profits for multiple hotels through the strategic coordination of revenue management processes and procedures. To drive the continued development and growth of customer service standards, revenue and profits from multiple hotels.

Managing and maintaining group and transient inventory controls:

• Daily review and implementation of room accommodation and rate inventory controls in Revenue Management System and/or Property Management System; Includes weekly implementation of roll-in controls.
• Work with Sales team to ensure effective and efficient management of Group inventory daily – provide direction when needed on cutoff date extensions, inventory wash/addition, MAR/SSG and displacement analysis.
• Attend weekly group pick-up meetings.
• Implement all blackout dates in Revenue Management System and review monthly to determine if adjustments are needed
• Maintain accurate demand information in Revenue Management System
• Work with the property team to ensure that sellout strategies are in place, and that Property Management System and Revenue Management system are balanced daily
• Ensure OnQ FMS and the General Ledger are balanced daily as it relates to past Actuals Developing, monitoring and adjusting sales and pricing strategies:
• Participate in weekly revenue management meetings, to include the following as standard agenda items: review of 365-day booking window pace for group and transient, pricing strategies, marketing opportunities and competitive environment.
• Daily review daily detail, pick up report and Overrides report. Address concerns and action plans with property team.
• Develop annual transient pricing with the VPRM. Includes loading of all pricing into OnQ R&I, Concerto. Ensure pricing in consistent in all distribution channels (Property Management System, GDS, Internet)
• Advise Corporate Director of Revenue Management of marketing opportunities, particularly over need periods
• Review and implement incentive programs in Front Office and Reservations, with particular focus on need periods
• Perform all functions of the Revenue Management Analyst, as required
• Train property team members and Revenue Analyst on key areas of Revenue / Yield Management
  
  

Provide critical analysis of strategies, room statistics and demand factors:

• Review end of month rooms statistics reports including FMS, Monthly Revenue Management Reports, STAR, Key Hotel Marketing Reports, Report of Operations, and provide critical analysis on performance vs. forecasts and results of implemented strategies
• Conduct displacement analysis of group business, as needed, to determine impact potential business will have on RevPAR
• Review all tentative and definite group bookings, to ensure that they support implemented strategies
• Complete weekly booking pace reports and analysis on pace, recommending strategy changes when needed
• Analyze group performance vs contract and forecast
• Analyze past and present trends and make recommendations for future strategies
  
  

Forecasting:

• Work with VPRM and prepare all Weekly, Monthly, Rolling Forecasts and Annual Budget
• Review all competitive shops daily and identify selling strategies and market trends
• Review Demand calendars, convention calendars and city event calendars to keep abreast of all demand generators
• Maintain historical data on events and performance on any promotions during these demand-generating events
• Participate in the training and development of the Revenue Analysts
• Answer other hotel team member’s 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 that all room’s statistics reports, including Report of Operations, and any other related reports are accurate and consistent
• Attends property Staff meetings, and other property specific meetings as requested by the General Manager
• Ensure that all revenue management related systems are maintained, including but not limited to: OnQ RMS, OnQ FMS, OnQ PMS, DMPE/Delphi, HIDB
• Employ the assistance of the Director of Sales, Director of Front Office, Sales and Marketing Manager as needed
• Contribute to the development of the marketing plan & annual budget
• Maintain an organized and clean work area and hotel environment
  
  

Competitive and Demand Analysis:

Administrative and Reservations:

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

REQUIREMENTS:

Required Experiences:

• 4-year college degree required or equivalent work experience
• Previous experience in Revenue Management
• OnQ R&I and GRO certified
• IHG Revenue Management Certification Assessment/ Full Service
• Working experience in Front Office operations/ Sales
  
  

Licenses/ Certificates:

RMU Certificate preferred

Specific Job Knowledge, skills and ability:

The individual must possess the following knowledge, skills and abilities and be able to explain and demonstrate that he or she can perform the essential functions of the job, with or without reasonable accommodation

• Excellent oral and written communication skills
• Excellent organization skills
• Ability to work well under pressure
• Appropriate professional appearance and demeanor
• Ability to deliver presentations in a concise, well-organized manner
• Proficient at statistical and competitive analysis
• Proficient in Microsoft Word, Excel and PowerPoint
• Certified in the use of GRO, OnQ RMS, OnQ R&I and other related systems or an ability to quickly learn and utilize these systems
• Strong experience or adaptable training in the use of automated systems, personal computers and software programs
• Experienced as a Revenue Analyst; Related analytical experience essential
  
  

Physical Demands

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

While performing the duties of this Job, the employee is regularly required to sit. The employee must frequently lift and/or move up to 10 pounds.

Work Environment

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

The noise level in the work environment is usually moderate.