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.
A Revenue Analyst is responsible for implementing revenue management systems to control the rates and keep an eye on how many people are staying in the hotel rooms or eating in the restaurant. As a Revenue Analyst, you will help with the marketing plans by monitoring how many rooms could be occupied because of a campaign and estimate how much income it will make for the business.
A Revenue Analyst is responsible for analyzing complex data and is expected to know what it means to make recommendations about rates and boost sales. Your advice will have a big impact on the business strategy; therefore, you’ll be a core part of many hotel and restaurant businesses.
Your duties may include:
- Analysis of reports to make short term and long-term pricing recommendations
- Control of inventory and availability of hotel and restaurant bookings
- Regular communication with the business about who you are targeting, strategy and results
- Analysis of performance to determine future strategies
- Analysis of demand and working with the Revenue Manager to find effective strategies to optimize revenue
- Providing reports and available information to the General Managers/Revenue Manager to assist in creating detailed forecasts of sales
- Occasionally assisting the reservations department with booking inquiries and telephone calls
- Preparing and distributing occupancy and revenue statistics for the business on a daily, weekly, and monthly basis
- Assisting the Revenue Manager with ad hoc tasks
- Analytical thinking – design new strategies to increase company profits
- Math skills – create financial reports and study financial data, which requires a good understanding of mathematics
- Customer service – maximize guest experiences to increase revenue, so employers look for candidates with customer service skills to perform this job
- Computer skills – access statistical and financial data using various programs and create digital reports, all tasks that require strong computer skills
- Attention to detail – spot patterns and trends and see where improvements can be made to maximize company revenue
- Communication skills – collaborate with department supervisors and executives to develop and implement revenue-generating strategies, which requires excellent verbal communication skills
Available Training and Certifications: