Area Director, Revenue Management

Job Description

Job Description

Job Title: Area Director, Revenue Management

Location: New York, NY - On-Site, In-Person Position

Department: Revenue Management

Reports To: VP, Commercial Strategy

Job Summary: The Area Director, Revenue Management's role is to identify, develop, and implement all potential revenue opportunities for a cluster of full-service, luxury & lifestyle hotels. This position reports to the VP of Commercial Strategy and works closely with General Managers, Directors of Sales & Marketing, and property leadership teams across the assigned portfolio. This role will provide integral support daily to the hotels for both long-term and short-term goals, system reporting and tools, and accurate forecasting to maximize total revenue and profitability across the portfolio. This role will also be expected to participate as a key member of hotel Executive Committees as applicable. This role will oversee the day-to-day Revenue Management strategy and functions for the assigned hotels. Must have luxury & lifestyle hotel experience.

Job Responsibilities:

• Set, manage, and collaborate with GMs/DOSMs across assigned hotels to input appropriate yield controls to maximize hotel revenue from all distribution channels.
• Coordinate with Front Office teams across the portfolio to maximize revenue through effective inventory management, upselling, and sell-out efficiency.
• Collaborate with Sales and Marketing teams to provide consultation on strategies for negotiating and booking optimal group and catering business, as well as to ensure hotel meeting space is properly utilized to maximize room and food and beverage revenue potential.
• Manage brand/third-party channels and relationships by working with OTA market managers on promotions and market exposure; follow up to analyze ROI on any paid placements or marketing programs to ensure assigned hotels are maximizing revenue.
• Clearly relay items/actions discussed during daily/weekly/monthly meetings and distribute meeting notes (and applicable reports) to all appropriate stakeholders in a timely manner; will be required to facilitate meetings as well.
• Effectively leverage, manage, and maintain applicable Sales & Revenue Management system(s), daily operations, forecasting support, and reporting in accordance with hotel, company, and brand Revenue Management Standards as applicable.
• Analyze applicable revenue reports to make Yield Management decisions and update respective inventory and rate information directly through the system(s) when necessary. Perform displacement analysis to support group sales decisions and communicate highlights and/or action plan recommendations to Revenue and hotel leadership.
• Place test calls to ensure accuracy of rate quoting, restrictions, and selling approach across assigned hotels.
• Ensure accurate preparation and analysis of market segmentation reports, production reports, source contribution analysis, daily pick-up reports, and pace summaries. Own the compilation, distribution, and interpretation of sales and revenue data for assigned hotels.
• Analyze and review monthly and weekly STR Report results, understanding gains or losses of RevPAR Index and applying this knowledge to impact and predict future results and further help develop proactive strategies to gain share against the competition.
• Develop, monitor, and adjust group pricing strategies, preferred patterns, and need periods where necessary across assigned hotels.
• Serve as a key contact for questions regarding system use and/or revenue management principles across the portfolio. May provide in-person training as required.
• Engage in the annual BT pricing process. Provide data analysis of production trends and pricing guidance to assigned hotels to ensure alignment with annual revenue goals.
• In partnership with the strategy and property leadership teams, execute daily, weekly, and monthly 30-60-90 day forecasts and annual budgets. Contribute to portfolio-level forecasting, budgeting, and revenue planning processes.
• May participate in monthly financial reviews (ownership invited) focused on sales, revenue, and P level of involvement may vary based on hotel and ownership structure.
• Represent assigned hotels and the company by participating in and/or conducting industry functions in the area as applicable.
• Manage and communicate group cut-off dates in partnership with applicable hotel teams.
• Monitor the status and performance of assigned hotels throughout the day. Adjust inventory controls that need to be modified through the applicable Revenue System(s) and communicate changes to the appropriate property and strategy teams.
• Identify revenue trends, opportunities, and areas of concern across the portfolio and proactively communicate recommended strategies and action plans to hotel and Commercial Strategy leadership.
• Partner with General Managers, Sales leaders, and other property leadership to ensure revenue strategies are understood, effectively implemented, and aligned with each hotel's business objectives.
• Balance the individual needs and market conditions of each assigned hotel while identifying portfolio-wide opportunities, trends, and best practices.
• The individual in this role may develop and coach a team of Revenue professionals as applicable to the portfolio size and/or structure.
• Perform special projects, participate on task forces and/or committees, trainings, hotel transitions, and other responsibilities as assigned.

Required Skills, Experience and Knowledge

• At least six years of progressive hotel revenue management experience preferred, including experience supporting multiple hotels or complex hotel operations; or a four-year college degree and at least two years of related experience; or a two-year college degree and at least four years of related experience.
• Luxury and/or lifestyle hotel revenue management experience required.
• Multi-property, area, or cluster revenue management experience strongly preferred.
• Must have a valid driver’s license in the applicable state.
• Must possess highly developed verbal and written communication skills to frequently negotiate, convince, sell, and influence managerial personnel, ownership representatives, hotel leadership, and/or corporate clients.
• Must have thorough experience with professional selling skills: opening, probing, supporting, and closing.
• Shows strong analytical skills and strategic vision in establishing appropriate revenue strategies across multiple hotels and markets.
• Must be proficient in general computer knowledge, especially Microsoft Office products.
• Must demonstrate proficiency with hotel Revenue Management systems, distribution channels, forecasting tools, and applicable brand systems.
• Must be able to work independently and simultaneously manage multiple hotels, priorities, deadlines, and stakeholders.
• Strong organization and presentation skills.
• Demonstrated ability to effectively interact with and influence people of diverse socioeconomic, cultural, disability, and ethnic backgrounds while solving complex problems and building productive relationships across multiple hotel teams.
• Requires advanced knowledge of the principles and practices within the revenue management, sales, marketing, and hospitality professions.
• Must work well in stressful, high-pressure situations; maintain composure and objectivity under pressure.
• Must be able to work with and understand financial information and data, including hotel P&L statements, budgets, forecasts, and basic arithmetic functions.
• Ability to travel between assigned hotels and other locations as business needs require.

Working Conditions / Environment

The following outlines the work environment employees will encounter while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of the job.

Job Type : Full-Time

Salary Range: $140,00 - $150,000 annually

Benefits:

• 401(k) & company match
• Health Insurance
• Dental Insurance
• Vision Insurance
• Life Insurance
• Paid Time Off