REVENUE MANAGER

Job Responsibilities

• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Analyses information and evaluate results to choose the best solution and problem solving.
• Generates and provides accurate and timely results in the form of reports, presentations etc.
• Conduct sales strategy analysis and refines as appropriate to increase market share for all properties.
• Analysed period end and other available systems data to identify trends, future need periods and obstacles to achieving goals.
• Assist with account evaluation process and validates conclusion.
• Updates market knowledge and align strategies and approaches accordingly.
• Achieve and exceeds goal including performance goals, budget goals, team goals, etc.
• Establish long-range objectives and specifying the strategies and actions to achieve them.
• Demonstrate knowledge of job relevant issues, products, systems and processes.
• Explore opportunities that drive profit, create value for clients, and encourage innovation, challenge existing processes/systems/products to make improvements.
• Ensure hotel strategies conform to brand philosophies and initiatives.
• Ensures that sales strategies and rate restriction are communicated, implemented and modified as market conditions fluctuate.
• Communicate proactively with properties regarding rate strategy and restrictions.
• Assist hotels with pricing and provides input on business evaluation and recommendations.
• Uses reservation systems and demand forecasting system to determine, implement and control selling strategies.
• Check distribution channels for hotel positioning, information accuracy and competitor positioning.
• Initiates, implements and evaluates revenue tests.
• Provide recommendation to improve effectiveness of revenue management processes.
• Communicate brand initiatives, demand and market analysis to hotels.
• Acts as a liaison, when necessary, between property and regional/corporate systems support.
• Work closely with all relevant hotel departments to ensure optimization of revenue opportunities. Examples includes but not limited to:

1. Reservations and/or Front Office - develop and implement transient pricing/selling strategies (control room events and critical periods, distribution channels (online & offline), maximizing potential for each room type, upselling/cross-selling efforts, etc.
2. Sales & Marketing, Marketing Communications and/or Digital Marketing – develop and implement group pricing/selling strategies, perform group/displacement analysis group block management, anticipate the need for and utilize promotions according to demand/season, annual contracting/RFP process or corporate & travel agent accounts, evaluate the hotel’s position in respect to competition (competitors’ analysis), online & offline distribution & visibility etc.
3. Meeting & Events – maximization & yielding of function/event space, forecasts, displacement analysis, etc

• Evaluates third party system (eg; PMS and/or RMS) for accuracy of system parameters, inventory, rates, transient demand, and group forecast/potentials; and to ensure all booking channels are in sync with each other.
• Provide monthly reporting on historical activities, as well as future data to be used for strategic decisions.
• Contribute to and support the annual budgeting process.
• Support all strategic business planning and related hotel concerns.
• Attend designated meetings as required (examples include but not limited to: sales meetings, forecast meetings, budget preparation, performance reviews, etc); chair revenue strategic meetings as required.
• Maintain regular, open communication with reservations, sales, front office and/or any other relevant departments on areas affecting the optimization of revenue opportunities; educate and keep all team members updated on philosophy of revenue management.

Requirements

• A minimum of 5 years or more work experience in a senior capacity within a reservations or revenue management role
• Must possess the following character traits: commercial business sense, entrepreneurial spirit, motivational leader, effective communicator and ability to improve the bottom line
• Aptitude for deriving information from data and using information to determine tactics and strategies
• Understanding of distribution channels and ability to maintain good working relationship with all stakeholders
• Knowledge of hotels operations and experience in managing multiple properties is an added advantage
• Possess a degree in either Hospitality or Tourism Management, Business Administration or Marketing