Maximize overall hotel room revenue through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data to drive market share.
Communicate Revenue Management strategic vision to the leadership and Reservations / Revenue Management teams of the hotel.
• Drive Market Share and Revenue Performance through proper pricing and mix management.
• Analyze competitive reports and formulate appropriate strategies through Market Vision.
• Develop overall pricing strategy to include all market segments and distribution channels.
• Provide guidance on corporate transient negotiated pricing, group pricing for each group, and wholesale pricing and acceptance.
• Ensure effective pricing strategies are in place to reflect asset strength relative to the competition in each market.
• Effectively manage inventory and pricing strategy in all distribution channels.
• Lead the Director of Sales in the decision making process of promotion participation.
• Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance.
• Ensure Best Rate Guarantee compliance.
• Clearly communicate to hotel team the strategic vision and objectives on how to drive revenues and improve performance.
• Ensure hotel team members understand the concept of Revenue Management and their role.
• Provide the hotel team with regular updates on hotel performance to include market share, market segment roll ups, and channel metrics.
• Produce accurate forecast on weekly and monthly basis (as determined by the hotel controller)
• Produce all relevant components of the Budget pertaining to Revenue Management.
Specific Job Knowledge, Skills & Abilities:
• Ability to quickly adapt to a constantly changing market with a revenue positive effect.
• Relevant experience in Revenue Management. Hotel Operations experience a plus.
• Analytical approach to problem solving and demonstrated ability to “think outside of the box”.
• Ability to analyze financial statements and market data.
• Detail orientated and hands on.
• Team player with strong interpersonal skills.
• Requires excellent communication skills, both verbal and written, and strong command of English in both
• Effective ability to lead, motivate and develop associates.
• Ability to develop and deliver effective presentations.
• Demonstrate self-confidence, energy and enthusiasm.
• Must possess strong computer skills, including Microsoft Office, (Excel/PowerPoint/Word) Opera PMS, IPS and the Revenue Plan.