Director of Revenue Management

General Description The Director of Revenue Management is responsible for the tactical daily revenue management practice of rate promotion, yield management, inventory controls and distribution throughout all distribution channels at multiple properties. Position will be accountable for achieving annual budgets at each property and achieving weekly deadlines assigned. The position will have a stronger focus on group and wholesale strategy providing support and direction for the sales team. Position will be responsible for accurate forecasting of revenues and the annual revenue budgeting process ensuring deadlines are made. Will also provide primary backup to corporate responsibilities managed by the Corporate Director of Revenue Management. Supervisor Responsibilities This position has 1+ direct reports. You will be responsible for supervision of employee performance and developmental coaching. This position carries out supervisory responsibilities in accordance with the organization's policies, procedures and applicable laws. Interview, hire, process references and new hire paperwork to company standard for all hired staff in compliance with state and federal laws and company policy. This position sets specific goals and objectives for all the employees supervised. Establishes and communicates performance criteria to all employees. Establishes and reinforces specific performance goals with subordinate employees and provides timely feedback. Formally reviews and evaluates performance goals and objectives on a regular basis of all employees under your supervision. When appropriate and needed, disciplining and create performance improvement plans for employees, and when necessary terminating employees under your supervision for performance related issues. Maintain proper staffing levels for all operating hotels. Responsible for ensuring the department maintains budgeted productivity levels with all budgeted line items. Schedules direct report staff. Communicate with team members both verbally and in writing to answer questions and provide clear direction in advising and instructing staff in details of work, policies and procedures and internal controls. Provide timely, real-time feedback to associates on service and operational standards, including feedback on even the smallest of service and operational details. Delegate tasks to revenue management support team and follow up to ensure completion. Managing Daily Business Needs Ensuring properties meet revenue goals and exceed market RevPAR KPI's due to quality of hotel properties and preferable locations. Responsible for the execution of company's overall revenue management strategy with a focus on group and wholesale revenue management strategy. Responsible for creating 90 day and year-end forecasts on a monthly basis, ensure other department leaders are providing monthly revenue forecast updates. Ensure One Yield Revenue Planning, Group Pricing Strategy, Total Hotel Calendar is properly managed on a long-term outlook. Manage the hotel's pricing and yield decisions across all market segments to achieve budget expectations. Manage inventory allocation and price parameters positioned to achieve overall revenue goals. Apply inventory limits when necessary to drive premium room sales. Maintain the hotel's RMS system to ensure it is maximizing revenue potential on all compression dates into the future. Unsure proper hurdles and LRV's are in place. Maintain the hotels pricing and distribution strategy within the hotels PMS and extranet platforms. Responsible for assessing, analyzing and pricing group business strategies using both manual ROI analysis and RMS decision support. Manage and approve CI/TY evaluations. Conduct test sells to ensure GPO is working properly. Daily pick-up analysis, strategy adjustments and reporting. Monitor group blocks within the PMS for pickup/ cut- offs/ attrition/ wash etc. Direct group housing and event management team members on necessary adjustments. Maintain a concise room type oversell/ sell- through strategy for all future dates. Ensure group housing and event management is tracking cancellation rates for group business. Monitor transient cancellation rates. Manage the rate loading process in HPP and rate offer merchandising in MarRFP. Ensure all related systems are configured correctly, validated and working to full capacity. Lead weekly revenue strategy meetings. Produce the daily internal and weekly short-term forecasts. Ensure accuracy of weekly reports generated by revenue management support team. Provide weekly dynamic forecast of expected results, variances and budget comparisons. Implement revenue management strategies, operations, procedures and best practices. Build and maintain strong working relationships with levels of staff throughout the company. Work in liaison with hotel sales and reservations departments as a team. Manage and oversee strategy for all 3rd party distribution through Efast and MarRFP. Perform competitive benchmark studies and follow market trends. Monitor Demand360 comparisons for revenue growth opportunities. Ensure web site booking engine process is maintained up-to-date and functional. Responsible for best practice standards to include competitor analysis; environmental scanning; market modeling; distribution yield management; business mix yield management; length of stay yield management; inventory availability by channel; pricing control and new pricing concepts. Evaluate performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc.…). Responsible for assisting Corporate Director with annual business plan and budgeting process. Attend Marriott trainings when provided by Marriott. Provide guidance to F&B outlets and Operations to increase revenues in their respective departments. Ensure department leaders are providing forecast updates on time and give guidance on forecasting to improve accuracy. Provide an in-depth revenue analysis of monthly P&L for revenues. Responsible for ensuring tasks are reviewed and completed on the Revenue Management task checklist. Assist CDORM with corporate responsibilities as needed. Ensure static wholesale strategy is reviewed weekly and stopsell dates are being managed appropriately to yield revenues. Update pricing for dynamic bar accounts. Handle additional projects and tasks related to revenue management as needed by the CDORM and hotel leadership. 2-year Associates Degree in Business Administration, Marketing, Finance, Hotel Management, or related major preferred. 7+ years hotel experience and 5+ years in revenue management with full-service hotel property with strong background in B&C revenue strategy. Extensive overall expertise in Marriott System Applications (One Yield, CI/TY High Performance Pricing, Lightspeed, Opera, Agilysys, MarRFP, Efast, MINT) and Non-Marriott systems Ideas RMS, Demand360 and Rate360. Hotel industry work experience, demonstrating progressive career growth and a pattern of exceptional performance. Must be able to work days, nights and weekends. Must be able to sit, walk, bend and stop throughout day. Frequently, use hands for keyboard and arms to reach. Must be able to work on site 5 days a week supporting and have reliable transportation. Licenses/Certifications Marriott One Yield RMS Certification required. A valid CA driver's license is required, as the position may occasionally involve driving to other properties and insurance required. Communication Requirements Able to communicate effectively in English, both verbally and in writing. Able to effectively deal with internal and external customers, some of whom will require high levels of patience, tact and diplomacy to diffuse anger, collect accurate information and resolve conflicts.

Source:

Hospitality Online