Job Description: Revenue management is the process of selling the right rooms or services at the right time to make a profit. It involves the analysis of customer trends to make sure the business’ rates are competitive and the marketing strategy encourages sales.
As a Director of Revenue Management, you will lead and inspire the revenue team to achieve the best results possible. You’ll usually lead a large restaurant group with several Group Revenue Managers reporting to you about their team’s progress. You are responsible for setting flawless revenue procedures and ensuring the Group Revenue Managers pass these on to the rest of the business. As a leader you will seek-out and capitalize on revenue management opportunities in all other areas of the business, making sure you are up-to-date about the advances in the field.
Your duties may include:
- Oversee revenue management and distribution strategy of the hotel and manage the day to day field operations.
- Daily pick-up analysis, strategy adjustments and reporting.
- Perform competitive benchmark studies and follow market trends.
- Create and maintain a 13-month rolling demand calendar.
- Create and develop pricing strategies.
- Provide a weekly dynamic forecast of expected results, variances, and budget comparisons.
- Manage and oversee strategy for all 3rd party distribution
- Responsible for assessing, analyzing and pricing group business strategies
- Analyze overall monthly hotel performance and provide summary reports with recommendations to improve long term strategies.
- Ensure all related systems are configured correctly, validated and working to full capacity
- Oversee and audit the standards and operations of the reservations department.
- Ensure the website booking process is maintained up-to-date and functional.
- Ensure hotel personnel is fully competent in the use of all systems
- Work in liaison with hotel sales and reservations departments as a team.
- Regularly check the input and the quality of data (segmentation, denials tracking, etc…)points.
- Conduct quarterly property performance review and develop strategic and tactical action
- Responsible for best practice standards to include: competitor analysis; environmental scanning; market modeling; distribution yield management; business mix yield management; length of stay yield management; inventory availability by channel; pricing control and new pricing concepts
- Evaluate the performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…).
- Reduce the cost of distribution by finding new less expensive means of delivering business
- Prepare an outline for and support the annual revenue budget process.
Available Training and Certifications