Responsible for overseeing all aspects of revenue management, including pricing strategies, market analysis, and promotional activities to the assigned properties and conducting all tasks that pertain to the function such as managing rooms inventory, rates, PMS and Revenue Management systems to maximize cluster rooms revenue and market share, forecasting, budgeting, business planning, the preparation of month end and ad-hoc analysis, the communication of rates, restrictions and strategies to the assigned property (properties) and the implementation of those in Revenue Management systems (ensuring system information is accurate).
Core Responsibilities:
- Develop and implement strategic revenue plans to optimize the hotel's financial performance.
- Analyze market trends, competitive landscape, and customer behavior to identify revenue-generating opportunities.
- Collaborate with sales, marketing, and operations teams to align revenue strategies with overarching business goals.
- Implement weekly Revenue Meetings to discuss sales strategies with Sales and GM
- Monitor and adjust pricing and inventory based on demand and market conditions.
- Utilize data-driven insights to forecast monthly revenue, occupancy, and average daily rate (ADR) to meet or exceed budgeted goals.
- Evaluate the effectiveness of promotional campaigns and take proactive measures to enhance profitability.
- Effective communication on the hotel level and with the Regional Director of Revenue
- Providing revenue management functional expertise to property general managers, leadership teams and market sales leaders
- Ensuring that hotel strategies conform to brand philosophies and initiatives
- Analyzing month end and other available systems data to identify trends, future need periods and obstacles to achieving goals
- Submitting reports in a timely manner, ensuing delivery deadlines
- Implement an upselling program
- Ensure effectiveness and performance for the reservation department
- Update and maintenance of GDS, TARS, Hotel Distribution and all reservation channels
- Ensure accurate data capture in all systems and perform regular system audit