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Responsible for balancing the financial objectives of different lodging products to maximize total revenues and profit associated with guest rooms. Position is accountable for pricing, positioning and inventory of all hotels within area of purview. Develops and recommends sales strategy for pricing of the transient customer, wholesale, and group segments. Identifies new revenue opportunities and effectively communicates sales strategy and pricing to all key stakeholders. Maintains productive relationships with stakeholders, including hotel General Managers, sales leaders, franchisees and owners.
Job Responsibility:
Manages room authorizations, rates and restrictions
Manages function space authorizations, restrictions and rental
Manages rooms’ inventory to maximize cluster rooms revenue
Maintains the transient rooms inventory for the hotel(s) and responsible for maximizing transient revenue
Releases group rooms back into general inventory and verifies clean booking windows for customers
Verifies that the hotel(s) sales strategies are effectively implemented in the reservation system and the inventory system
Prepares sales strategy critique
Monitors transient and group inventory daily to ensure straight-line availability and maximization of revenue potential for all brands
Verifies that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate
Supports cluster selling initiatives by working with all reservation centers
Uses reservations system and demand forecasting systems to determine, implement and control selling strategies
Verifies property diagnostic processes (PDP) are used to maximize revenue and profits
Initiates, implements and evaluates revenue tests
Provides recommendations to improve effectiveness of revenue management processes
Verifies compliance and participation in company promotions and eCommerce channels
Verifies all hotels follow brand strategies that will maintain and/or increase the hotel(s) revenue per available room (RevPAR) and revenue per available square foot (RevPAS)
Understands the working relationship between sales, reservations and property management systems
Participates in quarterly regional reviews
Promotes and protects brand equity
Achieves and exceeds goals including performance goals, budget goals, team goals, etc
Attends meetings to plan, organize, prioritize, coordinate and manage activities and solutions
Establishes long-range objectives and specifying the strategies and actions to achieve them
Takes a predetermined strategy and drives the execution of that strategy
Demonstrates knowledge of job-relevant issues, products, systems, and processes
Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.)
Explores opportunities that drive profit, create value for clients, and encourage innovation
challenges existing processes/systems/products to make improvements
Analyzes information, identifies current and potential problems and proposes solutions
Analyzes period end and other available systems data to identify trends, future need periods and obstacles to achieving goals
Generates updates on transient segment each period and continually analyzes transient booking patterns
Assists with account diagnostics process and validates conclusions
Maintains accurate reservation system information
Checks distribution channels regularly for hotel positioning, information accuracy and competitor positioning
Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts
Generates and provides accurate and timely results in the form of reports, presentations, etc
Observes, receives, and otherwise obtains information from all relevant sources
Submits reports in a timely manner, ensuring delivery deadlines
Analyzes weekly and monthly STAR information to assist in analyzing past strategies
identifies areas needing improvement, identifies competitor set strengths, and develops strategies to best capture available Market Share
Analyzes STAR information to assist in development of RevPAR Index forecasts
Generates yearly room revenue budget
Provides critical input to property leaders for development of market sales strategy
Provides revenue management functional expertise and leadership to general managers and property leadership teams
Implements and evaluates revenue tests
Verifies that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate
Assists hotels with pricing and provides input on business evaluation recommendations
Provides recommendations to improve effectiveness of revenue management processes
Verifies property diagnostic processes (PDP) are used to maximize revenue and profits
Communicates brand initiatives, demand and market analysis to hotels/clusters/franchise partners/owners
Communicates market direction to revenue management, sales and hotel leaders
Develops constructive and cooperative working relationships with others, and maintains them over time
Develops and manages internal key stakeholder relationships
Provides targeted and timely communication of results, achievements and challenges to the stakeholders
Informs and/or updates executives, peers and subordinates on relevant information in a timely manner
Enters, transcribes, records, stores, or maintains information in written or electronic form
Works with other people to gather the information necessary to manage projects, achieve goals, and resolve problems
Demonstrates knowledge of job-relevant issues, products, systems, and processes
Provides information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person
Requirements:
2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major
3-year experience in the revenue management, sales and marketing, or related professional area
OR 4-year bachelor's degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major
1-year of experience in the revenue management, sales and marketing, or related professional area
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