What are the responsibilities and job description for the Director of Revenue Management position at A Hiring Company?
Overview
SUMMARY
The Director of Revenue Management is responsible for implementing total revenue management strategy, which encompass maximizing revenues and profit through rate and inventory management of all market segments at the hotel and optimizing ancillary revenue potential through the many F&B outlets, retail, and Waterpark. The Revenue Director will take an active role in the hotel’s pricing and distribution of inventory across various channels of distribution to maximize revenues. The position supports their hotel in revenue meetings, analyzing trends in group and transient segments, exceeding budgeted occupancy, ADR, and revenue goals, and setting group ceilings, target rates in conjunction with the sales and catering team. The Director of Revenue Management will be responsible for managing and maintaining group and transient inventory controls including daily review, implementation of rooms and rate inventory controls for portfolio of hotels. Pyramid Global Hospitality is a leading hospitality company that offers career opportunities and has a steadfast commitment to putting people first.
LOCATION: Located along the picturesque Oklahoma River in the vibrant Horizons District of Oklahoma City, OKANA Resort & Indoor Waterpark offers exceptional career opportunities. Join us as the Director of Revenue Management to launch this world-class property.
ESSENTIAL FUNCTIONS
• Optimize RevPAR by analyzing/forecasting demand and establishing effective selling strategies, oversell strategies, optimal and seasonal market mix including group, transient and wholesale using Benchmark Hospitality revenue management tools.
• Conduct ongoing competitor price/product analyses to ensure proper rate positioning/product offering relative to competition.
• Conducts thorough net profit displacement analysis of group business down to net profits levels by accounting for various outlet and venue revenue streams.
• Work with Revenue Management team on pricing decisions for transient, group and wholesale segments.
• Implement pricing strategies for group and transient business segments; analyze competitor-pricing analysis to ensure correct daily and seasonal rate positioning to the competition.
• Works with Reservations Sales team to ensure ongoing F.I.T. Sales Training; analyze each individual agent’s conversion and coaching call scores and then assists Reservations Sales Agent in improving their performance.
• Establishes and maintains minimum standards for Transient Room Sales to include weekly Yield Meetings, PMS rate configuration, sales agent scripting, call conversion goals, coaching call goals, and standardized reporting.
• Acts as a liaison between electronic distribution channels, including offsite call centers, to maximize property exposure and bookings.
• Provides a monthly analysis to management complete with speculation on future performance of all market segments to include Rate, Occupancy, and REVPAR.
• Work with DOSM to provide a weekly and monthly analysis of the STAR report to include both group and transient.
• Manage/update current selling strategies and product information in all available distribution channels/reservation sources (PMS, third-party reservations providers, call centers, websites, GDS, etc.)
• Facilitate Weekly Revenue Strategy meetings.
• Work with the Regional Director of Revenue in recommending and implementing Revenue Management programs and new initiatives at the hotel.
• Work with Director of Sales and Catering, marketing, and hotel team to establish strategies to increase revenue of both rooms and F&B.
• Working with the marketing team to create innovative packaging for all resort revenue areas.
• Generate and distribute daily, weekly, and monthly revenue management reports and present results from all segments including internet channels.
• Maintain accurate and detailed historical data for all market segments.
• Continually monitor all pertinent travel related websites to ensure competitiveness in positioning, text, availability, and price.
• Maximizing the Hotels' revenues by monitoring transient and group production, ensuring that an optimal guest mix is maintained.
• Compile data, analyze trends, and develop accurate weekly and monthly forecasts.
• Critically analyzing the impact of the revenue management strategies implemented by the Hotels, including pricing
• Ensuring that all rate plans are built in accordance with established guidelines.
• Update and maintain all revenue management tools.
• Ensuring that the Hotels' position in the GDS and other distribution channels is consistent with the Hotels' Selling Strategies, includes conducting rate parity and availability audits.
• Ensure group inventory and cut-off dates are managed according to demand.
• Dealing effectively with people, creating teamwork, taking charge, generating enthusiasm, motivating, and using an uplifting and lead-by-example leadership approach.
• Respond to any reasonable task as assigned by supervisor or manager.
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