Complex Revenue Analyst

Compensation Type

Yearly

Highgate Hotels

Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America.

With a 30-year track record as an innovator in the hospitality industry, this forward-thinking company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate continues to demonstrate success in developing a diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts, featuring contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value.

With an executive team of seasoned hospitality leaders and corporate offices worldwide, Highgate is a trusted partner for top ownership groups and major hotel brands. www.highgate.com

Location

Graduate by Hilton New York is part of the Graduate Hotels collection located on the Cornell Tech Campus on Roosevelt Island, serving as the island’s first hotel and marking the brand’s debut in New York City. Architecturally designed by internationally renowned design firm, Snøhetta, and interior design from Graduate Hotels’ in-house team, the hotel blends Old School and New Age, taking inspiration from both the rich history of Roosevelt Island and the future of technology that the Cornell campus embodies. The futuristic, fashionable and the functional meld to create a space that’s bright, open and always interesting. The crown jewel of the property is the Panorama Room, the stunning 168-seat rooftop bar and lounge designed by James Beard Foundation Award-winning design firm, Parts and Labor Design, this venue evokes a sense of cinematic drama inspired by futurism creating a true destination for fashion-forward elegance in an intimate space all set against unobstructed city views.

Overview

The Complex Revenue Analyst is responsible for identifying and maximizing all potential revenue opportunities for two Highgate properties, Graduate by Hilton New York and Princeton. However, this position is based solely out of the Graduate by Hilton New York location on Roosevelt Island.  In today’s lodging environment, understanding channel and yield management is critical for maximizing revenues. The Revenue Manager is responsible for formulating long and short-term Revenue Management strategies and for overseeing their successful execution towards the advancement of RevPAR market share. This includes the analysis of revenue potential generated by the transient and group market segments as well as the market segmentation within transient and group. One will combine this with catering and space utilization as well as other revenue considerations (i.e. : golf, spa, etc.) in order to determine the appropriate mix of business to achieve revenue potentials every day of every year.

Responsibilities

• Establish hotel pricing levels in all segments.
• Responsible for the daily room inventory management process and daily pricing process.
• Monitor competitor rates, positioning, strategies and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management.
• Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
• Analyze local events and activities and project the effect of opportunities they create.
• Understand the macro and micro-economic variables affecting supply and demand in the local marketplace, and use this knowledge to create accurate operational and financial room revenue forecasts.
• Perform unconstrained demand analysis to determine optimal business mix.
• Responsible for all short and long term forecasts including Weekly Forecasts, 30 60 90 Forecasts, In the month forecasts, and Full year forecasts.
• Oversee process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department. Ensure that process enables high speed of response while maximizing profits.
• Responsible for the maintenance of any software programs which contribute to the management of rooms revenue, including the CRS, RMS, PMS and Sales & Catering system.
• Monitor RevPAR index on STR report and provide critical analysis of performance on weekly and monthly basis.
• Prepare annual Rooms revenue budget.
• Chair weekly Revenue Strategy meetings in order to formulate and disseminate strategies and tactics. Ensure that prior decisions are re-visited in this forum in order to evaluate their effectiveness and promote learning.
• Prepare and present quarterly presentations to ownership.
• Ensure all distribution channels have correct content and pricing.
• Develop and maintain a close relationship with the market manager of Third Party Intermediaries to maximize the opportunities with these channels.
• Develop and maintain relationships with other market revenue managers and Directors of Revenue to create a network of peers in your community
• Coordinate survey activities involving marketing and service opportunities to further enhance revenue potential.
• Actively develop all subordinates, ensuring that they have opportunities to grow their Revenue Management and leadership skill base through personal attention, internal / external training and participation in industry events.
• Responsible for Internet Marketing such as pay per click campaigns, e-mail blasts, GDS advertising, etc.
• Establish and communicate sales strategy for day, week, month and rolling 12 months.
• Communicate any strategy changes or update any calendars for the sales team to use.
• Analyze prior night successes : Did the hotel sell out?  Were the right decisions made for overselling? Address the opportunities in Highgate Hotel Business Review (HHBR) morning meeting.
• Place test calls to Central Reservation Office (CRO) and property to ensure accuracy of rate quoting, restrictions and selling approach.
• Manage and communicate group cut off dates.  Run a group rooms control log (GRC) as well as pick up report from Property Management System (PMS) for 90 days.  Verify pick up to actual block, cut off date, and whether or not you should extend, etc.
• Update the Daily Market Segment Analysis (DMSA). Ensure accuracy from the daily Flash Report. Review actual performance versus Potential performance.
• Complete all required month end reports with detailed analysis.  If necessary, complete action plans for the property to follow to create additional production / revenue.

Review Hilton system reports for trends, booking windows and sources of business as well as rates compared to competition.

Qualifications