Revenue Optimization: This is the primary function. It involves analyzing market trends, demand patterns, and competitor pricing to determine the optimal pricing strategies for rooms and other revenue-generating areas.
Responsible for creating accurate forecasts of future demand, which inform budgeting and strategic planning.
Contribute to the hotel's overall strategic planning by sharing timely accurate data to management and providing insights into revenue trends and opportunities.
Develop and implement revenue strategies for the hotel.
Monitor competitor pricing and market trends to adjust strategies.
Lead the weekly/bi-weekly Revenue Management meetings providing insights based on reporting data.
Develop topline revenue forecasts and actively seek opportunities to drive incremental profit across all revenue centers of the business.
Conduct regular performance reviews and optimize pricing and inventory.
Mentor, coach and develop junior team members in revenue management practices.
Collaborate with sales, finance, and front office teams to achieve revenue goals.
Ensure reservations are well managed and coordinate with the reservations team.
Drive market share in your competitive set and ensure all systems are adequately used to optimize RevPAR.
Leverage your knowledge of the distribution landscape, including online travel agencies and distribution networks to optimize hotel profits.
Responsible for data quality and system hygiene of Revenue Management and Distribution applications; platforms and tools used by the hotel.