Manager IV, Resort Inventory & Revenue Management

Manager IV, Resort Inventory & Revenue Management

As a member of the professional staff, contributes specialized knowledge and skill in a discipline area to support team and/or department business objectives. Generally, works under limited supervision, but within established guidelines, producing and analyzing more complex business information to assist in the decision-making process. Responsible for selection, supervision, and development of staff in accordance with company policies and procedures.

The Manager IV, Resort Inventory & Revenue Management (Manager IV) position is responsible for maximizing the usage of developer, owner, and rental inventory by developing and implementing optimal restriction and allocation strategies, consistently. This position is responsible for utilizing existing historical data and the Legacy module to determine the appropriate level of inventory to allocate (based on resort specific guidelines) for owner and exchange usage to ensure we receive the highest Owner Satisfaction Survey results achievable. This position also works closely with the Regional Preview Inventory team to establish the best strategy for supporting the inventory requirements of Sales & Marketing and then implementing and managing all inventory related activities associated with the agreed upon strategy.

Responsibilities also include the on-going development of seasonally competitive rental strategies for the marketplace and the day-to-day management and execution of the strategy. The Manager IV will collaborate with the Corporate Rental Marketing team to develop, implement, and monitor demand generating strategies for need times as identified in the on-going 12-month projection process. Position will be required to continuously evaluate the "Best Use" of available inventory striking the appropriate balance between owner demand, preview needs and rental demand while achieving budgeted rental sales targets. This position is responsible for consistently achieving Marriott Vacations Worldwide and IRM business objectives by setting the direction for direct report(s), developing individual goals, defining priorities and when appropriate, reestablish individual goals and/or priorities as business needs and objectives change.

Business Partnership

• Work closely with the Global Trust & Exchange team to maximize inventory for owner and in optimal balance for the greater system.
• Work closely with the Inventory & Revenue Management (IRM) team responsible for preview inventory. On an on-going basis verify that existing preview inventory allocations will be achieved and if not, determine the best use of available inventory. Conversely, proactively convey any opportunities to increase preview inventory allocations. Implement and manage inventory tasks for agreed upon strategy. Analyze overall impact of the marketing strategy on the rental segment and identify areas of opportunity in the future.
• Support enterprise-wide initiatives such as Long-Range Planning (LRP) and Annual Budget process. Utilize all available tools and resources to develop requested forecasts and provide the Regional Director of Inventory & Revenue Management with high level summary to support assumptions. As needed, implement all approved forecast assumptions on a timely basis.
• Partner with site Operations to create a positive guest experience via ensuring accuracy of inventory, providing 10-day forecast, and ensuring necessary education is in place so processes impacting inventory and financial results are followed on site.
• Partner with other departments as needed (e.g. A&C, Owner Services, F&A, M&S)
• Proactively communicate opportunities to increase volume for specified need times to the Regional Director IRMand collaborate with the corporate rental marketing group. Identify viable cost effective/targeted solutions and when applicable implantation roles and responsibilities.
• Analyze impact of marketing strategy to identify areas of opportunity.
• Proactively collaborate with the corporate rental marketing team to surface need times with the IRM Regional Vice Presidents of Market Execution and appropriate business partners within CRM to identify opportunities for sales and usage inventory pricing optimization.

Inventory & Revenue Management

• Consistently achieve Marriott Vacation Club Worldwide and IRM business objectives by setting the direction for direct report(s), developing individual goals, defining priorities and when appropriate, reestablish individual goals and/or priorities as business needs and objectives change.
• On-going development of seasonally competitive transient pricing and strategies for each market, and the management of that strategy.
• On a month/period basis utilize all available tools and resources to complete the 12-month projection process and provide Regional Director IRM with high level summary to support assumptions. Implement all approved forecast assumptions on a timely basis.
• Determine appropriate level of inventory to allocate for owner and exchange usage.
• Maximize usage of owner and transient inventory by developing and implementing optimal restriction & and allocation strategies
• Monitor actual reservation bookings against 12-month projections weekly to determine if assumptions are ahead or behind pace. Gather and analyze the appropriate data to proactively develop relevant short and long-term sales strategies for optimizing available inventory. Implement restriction and inventory strategies within CRS. As needed, communicate strategy changes to applicable stakeholders.
• Gather and analyze the appropriate data to develop a Bulk Deposit inventory allocation strategy that balances owner, preview, and rental requirements with the opportunity to meet Interval International's demand.
• Gather and analyze data to develop the appropriate Marriott Rental Inventory allocation and effectively manage all aspects of the program to ensure we consistently meet or exceed owner's expectations.
• Identify, develop, and manage opportunities to increase revenues and decrease costs, preempting problems before they impact our business, anticipating future trends, and developing others as appropriate.
• Maintain a thorough knowledge of existing data within the business and/or procure the required data on a timely basis to ensure that the immediate needs of our internal customers can be met consistently.
• Effectively differentiate which on-going ad hoc requests by internal customers can be supported and which will be declined based on business objectives and available resources. Identify required resources to support approved ad hoc requests and when appropriate, propose alternative recommendations for declined requests.
• On an on-going basis identify trends, future needs and obstacles to achieving business goals. Surface viable solutions and implement as needed.
• Proactively monitor on-going rental pricing activity within the market and project on a timely basis the potential impact associated with an upward or downward trend to the resort. Utilize data to develop on-going pricing recommendations, effective implementation of new pricing strategies and provide on-going analysis to monitor results as needed.
• On a weekly basis utilize all available tools and resources to complete the weekly 10-day forecast process and provide required reporting to internal stakeholders on or before the day of week requirement.
• Actively participate in on-going period/monthly regional reviews by; preparing the appropriate resources, providing updates regarding the resort and/or market that may impact other resorts within the region and sharing best practices.
• Ensure proper understanding of all Inventory & Revenue Management philosophies and accurate and timely execution and ongoing management of departmental processes.
• Ensures that owner, preview and rental inventory authorizations, restrictions and rates are consistently monitored and updated within CRS (MVW's Central Reservation System) and other applicable systems.
• Monitor owner and transient rental booking patterns daily basis and modifies inventory authorizations to ensure straight-line availability and maximization of revenue potential as needed.

Daily IRM Operations

• Enable direct report(s) to be successful by proactively anticipating and removing the obstacles that could impede their productivity and effectiveness.
• Provide direct report(s) the opportunity to succeed and grow through consistent communication, timely feedback, on-going recognition and establishing an annual individual development plan.
• Celebrates successes and publicly recognizes the contributions of direct report(s); ensures recognition is taking place across areas of responsibility.
• Works to enhance the organization's capabilities through effective staffing and development of others by:
• Coaching own team to collaborate with others.
• Using appropriate Marriott interviewing tools to hire the best people available from inside or outside.
• Establishing goals and delegating tasks appropriately.
• Providing timely coaching and feedback
• Making and rewarding distinctions in performance.
• Engaging in progressive disciplinary processes, when appropriate.
• Contributes to team, department and/or business results by performing more complex quantitative and qualitative analysis for business processes and/or projects. Often manages small projects, business processes or parts of larger ones.
• Responds to, solves, and makes decisions on more complex/non-routine business requests with limited to moderate risk.
• Responsible for own work and contributing to team, department and/or business results. May direct work of non-management staff.
• Assists more senior associates in achieving business results by:
• Identifying opportunities to enhance the effectiveness of business processes.
• Providing training and technical guidance to less senior staff, where appropriate, and serving as point-of-contact for problem resolution.
• Participating in setting department operating plans.
• Takes leadership role