Job Description

Overview General Description The Revenue Manager will work closely with the Area Director of Sales & Marketing to optimize the hotel's Room Revenue and implement strategies to elevate the hotel’s financial performance. Monitor all distribution channels to ensure effective selling through inventory management, market mix and pricing. Communicates demand patterns and ensures proper forecasting. Helps set strategies leading to increased market share, for up to 10 hotel entities. Responsibilities Daily update and manage selling strategies and product information in all available distribution channels and reservation sources (onsite, third-party reservation providers, call centers, websites, GDS, etc.). Maximize algorithm usages of brand revenue systems. Optimize RevPAR by analyzing and forecasting demand and establishing effective selling strategies, oversell strategies, and optimal market mix. Conduct ongoing competitor price and product analyses to ensure proper rate positioning and product offering relative to competition. Review price position on a daily basis and make adjustments based on market trends. Actively participate in all pricing strategies for transient, group, OTA, permanent, and wholesale segments. Apply an appropriate overbooking policy and educate team to accept through qualified bookings and implement and monitor waitlist for all revenue systems. Produce weekly forecast for trend analysis and decision support. Oversee revenue management and distribution strategy of the hotel and manage day-to-day yield operations Daily pick-up analysis, strategy adjustments, and reporting Analyze and review monthly and weekly STAR Report results, understanding gains or losses of RevPAR Index and applying this knowledge to impact and predict future results Perform displacement analysis on potential businesses groups to support sales decisions Manage group cut-off dates and block shortfalls and overages Facilitate Daily and Weekly Sales, revenue strategy meetings, variances, and budget comparisons Generate and distribute daily, weekly, and monthly revenue management reports and present results from all segments including internet channels Maintain any non-interface booking engines Maintain historical statistical data from all distribution channels, in all market segments Continually monitor all pertinent travel related websites to ensure competitiveness in both availability and price Prepares revenue and profit opportunity analysis and supporting reports. Qualifications Education / Skill requirements Experience with Marriott’s PM and Revenue Systems (One Yield 2, Marsha, etc.), Hilton’s Revenue Systems (GRO, OnQ RM, and OnQ R&I), and any brand affiliated systems. Knowledge of Third Party & Subscription reporting tools Four years revenue management experience required. In-depth understanding of tools- spreadsheets, statistical methods for analyzing data. Strong analytical skills. Ability to identify relevant data and use it to draw inferences with reference to impact on hotels revenues Knowledge of hotel operations, budget forecasting and long-range planning. Ability to use PMS, reservation and revenue management systems to forecast and implement optimal strategies Effective verbal and written communication skills. Ability to adapt communication style to suit different audiences, such as effectively communicating with supervisors, ownership and peers. Source: Economos Properties #J-18808-Ljbffr Economos Properties

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