Revenue Management Executive, Four Points by Sheraton, Complex, Dubai
Full job details
Do you dream about maximizing revenues and achieving budgeted and forecasted targets?
If yes…..read on.
This is an entry level position supporting the succession planning and bench strength goals of the new EAME Revenue Management Organization. The scope and complexity of our systems infrastructure, along with the extensive knowledge required to be effective in Starwood’s business environment, requires that we broaden the opportunity to groom new RM associates. In addition, given the challenges of complexion RM, the role of Revenue Management Executive is intended to add resources in complexes where the DORM/RM cannot maintain multiple separate systems in an optimum manner. This is a ‘mentoring’ phase to ensure we build a pool of competent and well trained RM specialists to offset turnover and staff up the pipeline for new hotels.
This role will provide an excellent opportunity to enter the revenue management arena by taking on specific responsibilities, providing support and contingency to the (Complex) Director of Revenue Management, while developing skills for a future Revenue Management position.
The Revenue Management Executive will contribute to hotel room revenue by supporting the (Complex)/Director of Revenue Management or Revenue Manager in development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data. A liaison with the On-Line Executive to maximize the use of internet as a distribution channel is also part of this role.
This is not an Executive Committee level position. It is considered a career development step towards becoming a Revenue Manager. It should be noted that “Revenue Management Executive” is a support position only, as No. 2 to a lead Revenue Management professional, and not a standalone position.
Duties & Responsibilities
Functional Pillar: Strategy
Strategy Support: By assisting the Director of Revenue Management/RM with essential administrative duties and fulfill reporting and analysis tasks, it will ensure that the RM strategies as defined by the team can be executed in an efficient and pro-active manner. Providing contingency in the event of absence is also an important element in the delivery of strategy objectives.
Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance. Perform competitor checks and report as appropriate.
Assist the DORM/RM in identifying soft periods and developing promotions and strategies
Functional Pillar: Operations
Support the DORM/RM in effective implementation of Starwood Revenue Management Standards, Policies & Procedures. (Rate Plans, Rate Categories, Market Segmentation, Profiles and all other PMS/IPS related RM functionality.)
Action Rate Solicitations as directed and maintain rate plans. Work with DORM/RM to implement the suggestions of CRMT Audit Recommendations.
Ensure the hotel has Best Rate Guarantee compliance, and work with the DORM to minimize/eliminate BRG claims against the hotel/complex
Assist the DORM/RM with daily updates of the Revenue Plan, balancing all figures with the PMS and FRS, and ensure all data input into the system is accurate. (Geo Source, Product Quality, Pricing) Assist with all aspects of budget preparation.
Assist in the preparation of 30-60-90 day fully updated Forecasts in the Revenue Plan Forecast Tool on a monthly basis. Work with the DORM/RM to prepare longer term forecasts and achieve hotel forecast accuracy goals.
Responsible for Startrack setup (flagging and tracking of company profiles in Opera) and on-going monitoring of account production. Liaise with the sales team and advise where accounts are not meeting rev par contribution goals.
Participate in the property’s weekly Revenue Management/Strategy Meeting and contribute to the Daily Operations Meeting. Act as the representative of the DORM/RM when he/she is unavailable.
Functional Pillar: Organization
Participate in the Talent Review, PMP process
Functional Pillar: Technology
Develop personal understanding and knowledge of all Revenue Management related systems and tools. Including: Opera PMS/S&C IPS, (or PRS Net), TLPe, TLGO if applicable, Market Vision, Enterprise Channel Reports, Revenue Plan, Star Track, CMD.
Be the second Primary User for all tasks related to the daily/weekly/monthly maintenance of TLPE/TLGO.
Functional Pillar: Reporting
Review and analyze data on an ongoing and end of month basis. Provide monthly report on production, trends, booking and stay patterns as well as channel analysis. Evaluation of the distribution channel performance (costs, commissions, number of reservations, revenue) and potential reasons for this performance.
o Includes but not limited to Rooms Rollup, Pace, Group Backlog, Geographic Data, star Track Reports, IPS Reports, PMS Reports, Trend analysis, Revenue Plan Summary
Analyze competitive reports and formulate appropriate suggestions for strategies through use of Deloitte & Touché Reports, Hotelligence and Market Vision
Ensure full capture of all available Denial/No Sell information by entering the statistics on DYM Report in Opera PMS and train Reservations and Front Office staff on the correct capture of Turnaways in Opera.
Run the IPS Company/Travel Agent Report and ensure that all profiles in Opera are correctly linked to master accounts to capture accurate StarTrack data.
Functional Pillar: Education
The Revenue Management Executive will be expected to complete the Basic RMA course shortly after assuming the role, and actively participate in all new training offerings, via classroom or webinar.
Additional training classes as determined by RDRM/RM may be added based developmental needs.
Daily communication with the DORM/RM on related issues. Update ‘Oneteame’ departments as appropriate and participate in all Rev Max and budget planning meetings.
Share best practices and key learning with peers, Area/Regional Director of Revenue Management and Divisional RM team
To qualify for this position the candidate must express a keen interest in a Revenue Management career and possess technical aptitude with good analytical skills. Specific requirements include:
Minimum 1 year experience in a Starwood Hotel, preferably working in a Front Desk, or reservations capacity. However, candidates with other backgrounds, and the right aptitude will be considered.
Professional Certification (University Degree, Hotel School Diploma)
Ability to quickly adapt to a constantly changing market with a revenue positive effect
Analytical approach to problem solving and demonstrated ability to “think outside of the box”
Ability to analyze financial statements and market data
Detail oriented and hands on
Team player with strong interpersonal skills
Requires excellent communication skills, both verbal and written, and strong command of English in both
Potential to develop into a leader, motivate and develop associates
Demonstrate self-confidence, energy and enthusiasm
Must possess strong computer skills, Inc. Microsoft Office, (Excel/PowerPoint/Word) Opera PMS/S&C or Fidelio/Delphi, IPS*, PRSNet*,TLPe*,TLGO*&Revenue Plan, *where applicable.
1. Minimum 2 years’ experience in a Hotel, preferably working in a Front Desk, or reservations capacity. However, candidates with other backgrounds and the right aptitude will be considered.
2. Professional Certification (University Degree, Hotel School Diploma)
3. Ability to quickly adapt to a constantly changing market with a revenue positive effect
4. Analytical approach to problem solving and demonstrated ability to “think outside of the box”
5. Ability to analyze financial statements and market data
6. Detail oriented and hands on
7. Team player with strong interpersonal skills
8. Requires excellent communication skills, both verbal and written, and strong command of English in both
9. Potential to develop into a leader, motivate and develop associates
10. Demonstrate self-confidence, energy and enthusiasm
11. Must possess strong computer skills, Inc. Microsoft Office, (Excel/PowerPoint/Word) Opera PMS/S&C or Fidelio/Delphi, IPS*, PRSNet*, TLPe*, TLGO*&Revenue Plan, *where applicable.