Revenue Manager

The Revenue Manager is focused On driving the optimal total revenue performance for the hotel. This includes an optimal business mix through the most profitable channels, contributing to the hotel's maximum potential revenues. Mentoring all team members to have the same understanding of revenue philosophies and strategies. Key Responsibilities Understand the hotel's competitive market and defined set; relevance to the hotel based on market segments, location, price point, and positioning within the competitor set. Ensure that effective strategies are in place, accurately executed, and adhered to by revenue- generating departments. Drive hotel performance to achieve optimal results. Partner with sales team members to achieve the best potential revenues and profit through sales leads, bookings, placement, etc. Determined the optimal segmentation and channel mix and the achievement of both. (Shared responsibility with DOS) Development and execution Of a strategic, dynamic, demand-based pricing philosophy for all room categories. Management of positive relationships with all OTA, FIT, and call center partners. Ensure regular intemal education on total revenue management and how each department impacts revenues and profit Create and implement appropriate programs specific to hotel needs, market needs, and/or seasonal needs — examples include but not limited to: room reservation conversion initiatives, suite sales, call center relations, front desk upsell programs, walk-in capture improvement. Participate in development of the annual rooms budget for top-line revenues, along with strategies to achieve. (Shared responsibility with DOS) All inventory management to optimize hotel results — room type stay patterns and sell-through ability, group blocks, etc. Oversees and directs the Group Room/lnventory Coordinator role Including monitoring Property Voice Reservations Sales team member(s) Assists with Front Desk Sales Agents training Forecasting — day by day, segment by segment based on owner guidelines and hotel needs (e.g., 90 days, monthly). Forecast demand/understand demand time periods. Develop and implement effective transient & group pricing and selling strategies. Facilitate communication among all revenue team members to ensure all perspectives are considered and strategies understood. Optimize and expand distribution partnerships. Tasks & Accountability (Primary, Contributory, or Shared) Utilize all tools available to assist with optimizing the hotel'S yield, such as subscription-based marketing intelligence reports Evaluate with all tools available to evaluate the hotel's position with respect to competition. Complete a 30-60-90 day-by-day forecast each month. (Primary) Maintain all relevant system-related tools such as PMS, CRS, GDS, OTAs, RMS, Channel Connect - to ensure timely information, rates, room types, etc., are up to date and accurate at all times. (Primary) Consistently evaluate revenue optimization tools and processes for accuracy and appropriate parameters in the following areas; inventory, transient demand, group forecast and potential, rooms package plans and promotions. Anticipate the need for, and utilize, promotions during "need" periods. Provide monthly reporting on historical activity, as well as future data to be used for strategic decisions. Chair weekly Revenue Management meeting — distribute meeting notes on action items and assignments made during the conversation. Attend weekly Sates meetings. (Contributory to Sales Team) Lead the monthly Revenue Strategy / Marketing meeting (TRevPOR) and distribute meeting notes Track and report actual-to-forecast variance of no more than +/-3%. Track and Report Market share index monthly. Ensure data quality, accurate tracking, accuracy of rate loading and respective validity dates, accuracy Of group block maintenance, and utilization of group analysis procedures. CRS, PMS, and websites are running properly and matching the hotel's strategies daily. Participating as a member of the hotel's Leadership Team. #J-18808-Ljbffr The Riverside Hotel