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Responsible for maximizing revenue and profit associated with rooms and function space in participating cluster properties. Position is accountable for preparing forecasts, budgets and projections, as well as pricing, positioning and inventory management. Oversees processes associated with demand, revenue, forecasting, inventory management and opportunity analysis. Works with the sales strategy team to develop the hotel(s)’ sales strategy and ensure implementation. Identifies future revenue opportunities and effectively communicates strategies to the sales organization.
Job Responsibility:
Maximize revenue and profit associated with rooms and function space
Prepare forecasts, budgets and projections, as well as pricing, positioning and inventory management
Oversee processes associated with demand, revenue, forecasting, inventory management and opportunity analysis
Work with the sales strategy team to develop the hotel(s)’ sales strategy and ensure implementation
Identify future revenue opportunities and effectively communicate strategies to the sales organization
Provide revenue strategy and analysis functional expertise and leadership to general managers, property leadership teams and market sales leaders
Evaluate effectiveness of property participation in electronic sales channels
Analyze competitive sets, price positioning, seasonality, mix and displacement on a continuous basis
Prepare forecasts of revenue, profit, demand and occupancy for rooms and function space – 3-month and 6 month, long range and budget
Assist hotels with pricing and provide input on business evaluation recommendations
Analyze period end and other available systems data to identify trends, future need periods and obstacles to achieving goals
Generate updates on transient segment each period
Work with Market VP, Market GM and GM’s to assist in pricing analyses for all products in Market
Assist with account diagnostics process and validate conclusions
Utilize interpersonal and communication skills to lead, influence, and encourage others
advocates sound financial/business decision making
Update market and revenue knowledge and align strategies and approaches accordingly
Work closely with Sales and Marketing for business opportunities, aims to increase profitability of the organization
Achieve and exceed goals including performance goals, budget goals, team goals, etc
Take a predetermined strategy and drive the execution of that strategy
Explore opportunities that drive profit, create value for clients, and encourage innovation
challenges existing processes/systems/products to make improvements
Manage all revenue, profit and demand data associated with rooms and function space
Provide recommendations to improve effectiveness of revenue analysis processes
Attend meetings to plan, organize, prioritize, coordinate and manage activities and solutions
Develop specific goals and plans to prioritize, organize, and accomplish your work
Develop the Business Outlook Strategy
Determine sales strategies and communicate to market sales leadership, marketing communications teams and property leadership
Establish and maintain effective and rational pricing strategies for rooms and function space
Develop and execute the hotel(s) strategic plan(s)
Oversee the annual pricing process for transient, group and catering rooms, function space and audio-visual
Provide critical input to market leaders for development of property and overall revenue sales strategy
Ensure hotel strategies conform to brand philosophies and initiatives
Ensure that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate
Conduct sales strategy analysis and refines as appropriate to increase market share for all properties
Develop 6-month, 12-month and 2-year strategic action plans for management of cluster transient revenues
Manage inventory to maximize cluster rooms revenue
Ensure property diagnostic processes (PDP) are used to maximize revenue and profits
Initiate, implement and evaluate revenue tests
Provide revenue strategy expertise and leadership to general managers, property leadership teams and market sales leaders
Identify and communicate revenue and profit opportunities to property leadership teams and sales organization
Develop and manage internal key stakeholder relationships
Provide targeted and timely communication of results, achievements and challenges to the stakeholders
Interview and hire employees with the appropriate skills to meet the business needs of the unit
Develop, implement and maintain a departmental orientation program for employees to receive the appropriate new hire training to successfully perform their job
Utilize all available on the job training tools for employees
Communicate performance expectations in accordance with job descriptions for each position and monitor progress
Conduct employee performance appraisals according to Standard Operating Procedures
Administer bonus and incentive programs
Establish and maintain open, collaborative relationships with employees and ensure employees do the same within the team
Solicit feedback, utilize an “open door” policy and review employee satisfaction results to identify and address employee problems and concerns
Manage employee progressive discipline procedures for areas of responsibility
Ensure regular on-going communication is happening in all areas of responsibility to create awareness of business objectives and communicate expectations, recognize performance and produce desired business results
Requirements:
2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major
2 years experience in the revenue management, sales and marketing, or related professional area
OR 4-year bachelor's degree in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major
no work experience required
Ability to compile information, analyze and monitor actual sales against projected sales
Ability to identify underlying principles, reasons, or facts of information by breaking down information or data into separate parts
Proficiency with computers and computer systems to program, write software, set up functions, enter data, or process information
Ability to analyze information and evaluate results to choose the best solution and solve problems
Ability to translate or explain what information means and how it can be used
Interpersonal and communication skills to lead, influence, and encourage others
Ability to understand and meet the needs of key stakeholders
Ability to establish long-range objectives and specify the strategies and actions to achieve them
Ability to think creatively and practically to develop, execute and implement new business plans
What we offer:
Opportunity for training, development, recognition
Place to pursue your passions in a luxury environment with a focus on holistic well-being