Director of Revenue Management

Director of Revenue Management

· Manages rooms and function space inventory and ensures inventory is allocated and restricted properly to maximize revenue and profits. Responsible for building all rates, packages and hotel sales strategy information in the hotel(s)’ inventory systems. The position recommends pricing and positioning of cluster properties. In addition, the position oversees the inventory management system to verify appropriateness of agreed upon selling strategies.

· Responsible for the analysis of revenue, profit and demand associated with hotel rooms and space inventory in a given market or cluster. Position prepares forecasts, budgets, weekly and daily projections and analyzes the progress of each. Position critiques sales strategy effectiveness and prepares historical and future analysis of revenue and profit opportunities.

· Preparation of competitive analysis and other supporting documents for presentation at market sales strategy meetings. Managing room authorizations, rates, and restrictions, including communicating rate restrictions and strategy to properties.

· Perform all Revenue Management month end reporting and auditing and provide forward looking information for the purposes of forecasting, targeting need areas and balancing financial expectations. Accurately generate, process and update all property and market Revenue Management reports and serve as primary source for majority of reporting and analytical needs of the Revenue Management team.

· Maintenance including but not limited to, inputting rate hurdles, monitoring forecasted demand, updating group forecasting and running daily system checks. Training of new associates as necessary on revenue management tools. Assist in the implementation of hotel sales strategies in the reservation and inventory systems.

Revenue Management

• To ensure effective use of forecasting tools for guest rooms and meeting rooms availability control and pricing
• To maintain a consistent selling strategy across the Central Reservation system (CRS), Property Management System (PMS) and third-party online systems, ensuring maximum use of availability controls in all systems
• To apply an appropriate overbooking policy and educate team to accept through qualified bookings
• To assist hotel management in the revenue decisions by highlighting opportunities
• To check competitor strategy on a regular basis, reviewing pricing and their availability
• To analyze production statistics and track information to identify potential business and market trends
• To identify potential new opportunities to improve revenue performance
• To assist hotels to maintain and change room rates/inventory when required
• To provide strategic analysis and input for the Revenue Team & Director of Sales & Marketing
• To ensure accuracy of all reservations and other data in all distribution channels
• To conduct quality control checks in CRS & PMS to ensure data accuracy
• To ensure that all rates are loaded by accurate completion of rate databases by distribution and hotel reservations
• To monitor automated revenue management system, IDeaS, decisions, interpret its forecast and decisions

OTA Partnerships Development

• To manage Online Travel Agency accounts ensuring their compliance with M&C’s Distribution strategy
• To ensure that every OTA website displays correct information at all times
• To manage approved OTA partners Internet listings
• To ensure hotels comply with the company’s terms and conditions regarding internet distribution strategies
• To ensure hotels’ audit compliance
• To analyze and give recommendations on channel performance reports on a monthly basis
• To produce regular SWOT analysis / hotel PDP’s / Rate Value Matrix highlighting any threats and opportunities
• To use up-to-date methods and appropriate procedures with regards to technologies and costs
• To build and maintain effective working relationships with key clients
• To ensure the OTA website adhere to the best rate guarantee
• To carry out any other duties and responsibilities as assigned.

Building Successful Relationships and Additional Responsibilities

• Informs and/or updates the executives, the peers and the subordinates on relevant information in a timely manner.
• Liaison with Distribution, Distribution Services, Digital Marketing and Brand Loyalty Team for various global campaigns
• Observes, receives, and otherwise obtains information from all relevant sources.
• Works with other people to gather the information necessary to manage projects, achieve goals, and resolve problems.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.
• A good knowledge of Ideas, Rate Gain, TravelClick, and STR
• Works with Revenue Team for the Area Strategies and compliance of corporate policies and procedure
• Identify operational problems that reduce the effectiveness of revenue activities and overall hotel sales performance and work with appropriate department on solutions.
• Educate and train reservations team that is responsible for developing new reservations and implementing revenue strategies.

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, 4 years experience in the revenue management OR
• 4-year bachelor's degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major, 2 year experience in the revenue management.