Director of Revenue Management

Job Description

Director of Revenue Management

The Director of Revenue Management is responsible for leading the hotel Commercial Strategy team in determining strategic vision. The DRM establishes goals and implements tactical efforts, with the goal of promoting revenue growth generation among key customer segments and revenue centers, and supporting the hotel's brand positioning and image. The role is responsible for data quality and analysis, providing gathered intelligence, and recommending revenue and e-commerce strategies to the Commercial Strategy team, as well as other corporate and ownership entities. In addition, the role ensures that inventory allocation and pricing parameters are positioned to support the overall revenue goals of the hotel, while assisting all stakeholders in maximizing profit. The role plays a critical part in identifying and mentoring RM talent within the hotel.

Focus:

Strategic vision, ultimate accountability for hotel revenue, leadership of the commercial team, mentorship, and final decision-making authority.

Responsibilities

• Leads the strategic planning process and collaborates with all hotel profit generation teams to proactively identify and implement opportunities to drive incremental profit for Rooms, Restaurants, Spas, and other revenue streams..
• Effectively communicates a compelling Total Hotel Profit Optimization vision to all relevant property leaders, fosters Revenue Management Culture within the revenue generating departments of the hotel and teaches RM concepts within the hotel.
• Leverages Revenue Management analytics, technologies, processes, tools, and training programs to optimize hotel profits.
• Creates short- and long-term forecasts, that yield the best decisions on pricing and yielding tactics
• Drives the annual budget process and produces long term projections, as required.
• Actively participates in ownership conversations and presentations.
• Monitors relevant economic, market, and competitive set indicators to derive insight-led profit generation strategies.
• Chairs the weekly Revenue Management Meetings, driving strategic discussions and ensuring alignment with brand guidelines and hotel objectives.
• Maximizes room revenue contribution through a thorough understanding of all booking channels and management of inventory and rate therein.
• Optimizes pricing, promotions, and availability strategies through definition and management of all rates, rate levels, stay restrictions and other tactics, which are congruent with demand factors to target the most profitable customer segments to maximize profits.
• Owns and directs all channel distribution strategies, continuously evaluating new business opportunities and optimizing performance across booking channels.
• Collaborate with the Marketing team to execute, measure, evaluate and improve digital marketing efforts, to support the hotel strategic marketing plans working within the established budgets.
• Together with the Marketing team, manages performance reviews with OTA/CTO partners, keeping up-to-date on each partner’s distribution options and extranet maintenance, to ensure optimal display of the hotel. Evaluates extranet enhancements.
• Serves as the system owner for all core revenue management technologies (RMS, CRS, Rate shopping systems, etc.), ensuring data quality, system hygiene, and optimal utilization to drive profit.
• Oversees content management in all electronic channels, liaises with hotel Marketing team to ensure regular updates of images and descriptions of hotel, room brands, outlets and services are completed.
• Oversees relationship with GRC and Distribution services teams.
• Maintains relationships with local market competitors to keep informed of trends and news.
• Identifies, mentors, and develops revenue management talent, including the Revenue Manager/Assistant DRM and Revenue Analyst, fostering a culture of continuous learning and high performance

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions:

• Strong communication skills, both verbal and written
• Dynamic can-do attitude
• Strong analytical skills and attention to detail
• Presents a professional and polished appearance
• Effectively deal with guests and other team members
• Previous reservation experience highly preferred
• Experience with Ideas G3 RMS, Opera PMS, Passkey, Delphi or Opera Sales and Catering preferred
• Possessing the trait of being organized and multi-tasking
• Ability to complete work within given deadlines
• Maintain confidentiality of proprietary information and protect company assets

Physical Demands

• This position requires the ability to focus attention on guest needs, remaining calm and courteous. Occasional standing, walking, lifting and carrying up to 20 lbs.
• Perform other reasonable job duties as requested.

Required Education and Experience

• Bachelor degree in Hotel Management, Accounting, Finance, or Mathematic preferred.
• Previous Director of Revenue Management experience, minimum 4-6 years