Revenue Manager

Roles and Responsibilities

As Revenue Manager, you will set and effectively communicate the hotel pricing strategy by market segment with reference to market intelligence, buying patterns, and pre-determined seasonality. Further, you will actively participate in the production of the hotel’s annual budget and assist in the creation, update, and evaluation of the hotel sales and marketing plan. You will be responsible for ensuring available technology (PMS & RMS) is fully utilized and understood according to the property-specific business mix and requirements to ensure optimal use. You will then measure performance on all distribution channels to ensure that fair market share is well achieved. Key areas of responsibility include:

• Preparing weekly accurate 3-month forecasts for hotel rooms revenue by Market Segment.
• Preparing monthly accurate rolling 12-month forecasts for hotel rooms revenue by Market Segment.
• Setting and effectively communicating the hotel pricing strategy by market segment with reference to market intelligence, buying patterns, and pre-determined seasonality.
• Preparing and chairing a weekly Revenue Meeting.
• Collating and distributing meeting minutes of notes on forecast and strategy changes, including the weekly action plan.
• Setting monthly targets of upselling revenue for front office and reservations department.

Qualifications

• Bachelor degree in hotel management or finance.
• 2 years revenue and yield experience in the hospitality industry.
• Familiar with hotel operations, available technology (PMS & RMS), and all distribution channels.
• Understanding the dynamics of regional & local markets, as well as local competitors and events.

Desired Candidate Profile

Essential Skills and Attributes

1. Analytical Skills

• Proficiency in analyzing data to identify trends, opportunities, and challenges.
• Using statistical tools and revenue management software to interpret performance metrics.

2. Strategic Thinking

• Developing pricing and inventory strategies to maximize revenue and profitability.
• Anticipating market trends and adjusting strategies proactively.

3. Market Knowledge

• Understanding market demand, competitor behavior, and customer preferences.
• Staying updated on industry trends and economic factors affecting revenue.

4. Financial Acumen

• Monitoring and analyzing revenue reports, profit margins, and financial KPIs.
• Creating budgets, forecasts, and financial models to guide decision-making.

5. Communication and Collaboration

• Presenting insights and recommendations to stakeholders and leadership teams.
• Collaborating with sales, marketing, and operations to align strategies.

6. Time Management

• Balancing multiple projects, meetings, and reporting deadlines efficiently.
• Responding quickly to market changes or sudden shifts in demand.

7. Problem-Solving

• Addressing challenges like revenue shortfalls or inefficiencies in pricing structures.
• Implementing solutions to overcome obstacles and achieve financial goals.

8. Technological Proficiency

• Expertise in revenue management systems (e.g., IDeaS, Duetto, or Sabre).
• Strong skills in Excel, SQL, or BI tools like Tableau or Power BI for data analysis.

9. Leadership and Decision-Making

• Leading revenue optimization initiatives across teams or departments.
• Making informed, data-driven decisions that align with organizational goals.

10. Adaptability

• Adjusting strategies based on real-time data, seasonality, or unexpected disruptions.
• Managing fluctuations in market conditions with flexibility and precision.