Director of Revenue Strategy

JOB SUMMARY

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.

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 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

• Compiles information, analyzes and monitors
actual sales against projected sales.

• Identifies the underlying
principles, reasons, or facts of information by breaking down information
or data into separate parts.

• Uses computers and computer systems
(including hardware and software) to program, write software, set up functions,
enter data, or process information.

• Analyzes information and evaluates
results to choose the best solution and solve problems.

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

•
Translates or explains what information means and how it can be used.

•
Evaluates effectiveness of property participation in electronic sales
channels.

• Analyzes competitive sets, price positioning, seasonality,
mix and displacement on a continuous basis.

• Prepares forecasts
of revenue, profit, demand and occupancy for rooms and function space – 3-month
and 6 month, long range and budget.

• Assists hotels with pricing
and provides input on business evaluation recommendations.

• 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.

• Works with Market VP, Market GM
and GM’s to assist in pricing analyses for all products in Market.

•
Assists with account diagnostics process and validates conclusions.

Managing Revenue Management Projects and Strategy

•
Utilizes interpersonal and communication skills to lead, influence,
and encourage others; advocates sound financial/business decision making;
demonstrates honesty/integrity; leads by example.

• Understands and meets
the needs of key stakeholders (owners, corporate, guests, etc.).

•
Updates market and revenue knowledge and aligns strategies and approaches
accordingly.

• Establishes long-range objectives and specifies
the strategies and actions to achieve them.

• Works closely with Sales
and Marketing for business opportunities, aims to increase profitability of
the organization.

• Achieves and exceeds goals including performance
goals, budget goals, team goals, etc.

• Takes a predetermined strategy
and drives the execution of that strategy.

• Thinks creatively
and practically to develop, execute and implement new business plans.

•
Explores opportunities that drive profit, create value for clients,
and encourage innovation; challenges existing processes/systems/products to make
improvements.

• Manages all revenue, profit and demand data associated
with rooms and function space.

• Provides recommendations to improve
effectiveness of revenue analysis processes.

• Attends meetings to plan,
organize, prioritize, coordinate and manage activities and solutions.

•
Develops specific goals and plans to prioritize, organize, and accomplish your
work.

• Develops the Business Outlook Strategy.

• Determines sales
strategies and communicates to market sales leadership, marketing communications
teams and property leadership.

• Establishes and maintains effective
and rational pricing strategies for rooms and function space.

• Develops
and executes the hotel(s) strategic plan(s).

• Oversees the annual
pricing process for transient, group and catering rooms, function space
and audio-visual.

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

• Ensures
hotel strategies conform to brand philosophies and initiatives.

• Ensures
that sales strategies and rate restrictions are communicated, implemented
and modified as market conditions fluctuate.

• Prepares sales strategy
meeting agenda, supporting documentation and leads property and/or cluster
meetings.

• Conducts sales strategy analysis and refines as appropriate
to increase market share for all properties.

• Develops 6-month, 12-month
and 2-year strategic action plans for management of cluster transient
revenues.

• Manages inventory to maximize cluster rooms revenue.

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

• Initiates, implements and evaluates revenue tests.

Building Successful Relationships

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

• Identifies and communicates
revenue and profit opportunities to property leadership teams and sales
organization.

• Develops and manages internal key stakeholder
relationships.

• Provides targeted and timely communication of results,
achievements and challenges to the stakeholders.

Managing and Conducting Human Resources Activities

•
Interviews and hires employees with the appropriate skills to meet the business
needs of the unit.

• Develops, implements and maintains a departmental
orientation program for employees to receive the appropriate new hire training
to successfully perform their job.

• Utilizes all available on the job
training tools for employees.

• Communicates performance expectations
in accordance with job descriptions for each position and monitors progress.

• Conducts employee performance appraisals according to Standard Operating
Procedures.

• Administers bonus and incentive programs.

•
Establishes and maintains open, collaborative relationships with employees
and ensures employees do the same within the team.

• Solicits feedback,
utilizes an “open door” policy and reviews employee satisfaction results
to identify and address employee problems and concerns.

• Manages
employee progressive discipline procedures for areas of responsibility.

•
Ensures 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.

Every day, we set the standard for rare and special luxury service
the world over and pride ourselves on delivering excellence in the care
and comfort of our guests.

Your role will be to ensure that
the “Gold Standards” of The Ritz-Carlton are delivered graciously
and thoughtfully every day. The Gold Standards are the foundation of
The Ritz-Carlton and are what guides us each day to be better than the next.
It is this foundation and our belief that our culture drives success by
which The Ritz Carlton has earned the reputation as a global brand leader
in luxury hospitality.

As part of our team, you will learn and exemplify the Gold Standards, such
as our Employee Promise, Credo and our Service Values. And our promise to you
is that we offer the chance to be proud of the work you do and who you work
with.

In joining The Ritz-Carlton, you join a portfolio
of brands with Marriott International. Be where you can do your best
work, begin your purpose, belong to an amazing global team,
and become the best version of you.