Director of Revenue Management

JOB SUMMARY

Oversees revenue management activities and managers within area of purview.
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. Oversees all processes associated with demand, revenue, inventory,
forecasting and opportunity analysis. 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. Acts as primary contact and maintains
productive relationships with all stakeholders, including hotel General
Managers, sales leaders, franchisees and owners.

CANDIDATE PROFILE

Education
and Experience

• 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 from an accredited university in Business
Administration, Finance and Accounting, Economics, Hotel and Restaurant
Management, or related major; no work experience required.

CORE WORK ACTIVITIES

Analyzing
and Reporting Revenue Management Data

• 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.

• Analyze
STAR information to assist in development of RevPAR Index forecasts.

•
Generates yearly room revenue budget.

Managing Revenue
Management Strategy

• Provides critical input to property
leaders for development of market sales strategy.

• Provides revenue
management functional expertise and leadership to general managers, property
leadership teams and market sales leaders.

• Initiates, implements
and evaluates revenue tests.

• Ensures 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.

• Assists in creating and verbalizing
positioning and long-term strategies for all segments (group, transient,
catering) that are in alignment with brand standards and property
objectives.

• Provides recommendations to improve effectiveness
of revenue management processes.

• Ensures property diagnostic processes
(PDP) are used to maximize revenue and profits.

• Ensures hotel
strategies conform to brand philosophies and initiatives.

• Ensures
Operation Teams are aware of current strategies and have the information needed
to execute them (daily strategies, current day inventory management, and package
inclusions).

Building Successful
Relationships

• 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.

Additional Responsibilities

• 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.