Director of Revenue Management

Director Of Revenue

The Director of Revenue maximizes hotel room revenue by managing guest room inventory and product pricing daily for this Luxury Asset. They will understand the market and competitive business positioning to develop the hotel's business strategy and profitability, integrating both strategic and tactical skills. Our ideal candidate must be strategic and decisive, combining knowledge of e-commerce, sales, marketing, and distribution to make optimal revenue decisions across all channels.

Primary Responsibilities :

• Manages the guest room inventory through the Hilton system's end date for the hotel
• Manages rates and inventories in all distribution channels to ensure parity.
• Create, implement, and evaluate strategic pricing decisions by market segment and channel to maximize room revenues.
• Strategically sets group bookings parameters (MARs and ceilings) in conjunction with the transient strategies to maximize group room revenue.
• Prepare weekly, monthly, and annual room revenue forecasts within + / - 3% accuracy.
• Leads the preparation of the annual revenue budget and marketing plan
• Maintains comprehensive short- and long-term awareness of the local market. Track, evaluate, and communicate business and market trends to the property team and ownership.
• Evaluates the area competitors in regards to pricing, mix of business, brand directives and overall selling initiatives. Monitors competitors' pricing and makes pricing adjustments accordingly.
• Evaluates the daily, weekly, and monthly STR report to understand the trends of assigned hotels and competition, as well as understand the opportunities for hotels for YOY growth. Be able to understand and interpret market conditions, trends, and the competition.
• Maintain calendars for demand generation, holidays, special events, citywide events, etc.
• Leads the Weekly Revenue Management Meeting to review performance, selling strategies, and market trends for the hotel. Completes the Weekly Revenue Management Report to communicate the performance results to the hotel.
• Prepares and analyzes supporting documentation for revenue meeting for hotel inventory, pricing, market shops, forecast, budget, STR, group pace, etc.
• Ensures all Revenue Management data files are organized and maintained.
• Ensures actual room revenue statistics for assigned hotels are accurate in Profit Sage, Smith Travel reports, and brand systems.
• Executes all corporate revenue management initiatives for the hotel.
• Work with fellow revenue professionals to shift demand and sell out all the same-city hotels.
• Develops and implements quarterly strategic action plans.
• Develops and maintains partnerships with 3rd party business partners. Work with the Corporate Director of Revenue to develop and implement effective strategies to maximize third-party and opaque channel e-commerce demand and profitability.
• Visit hotel competitors at least every 6 months to understand the hotel's strengths and weaknesses against each competitor, both from a product and yield strategy perspective.

Requirements :