Director of Revenue Management

Job Description

Director of Revenue Management

The Director of Revenue is responsible for planning, managing, and optimizing the hotel’s revenue streams to achieve optimal occupancy, while meeting and exceeding hotel profit objectives. Responsible for developing a pricing and distribution strategy, in accordance with the brand’s recommendations.

Responsibilities:

Reporting to the General Manager, the Director of Revenue Management is responsible:

– Driving incremental revenue and profit for the hotel using a rational, disciplined decision-making process while managing risk under current and anticipated market conditions.
– Maximizing room revenue contribution through a thorough understanding of all booking channels and management of inventory, content, and rates therein.
– Continual analysis of changing channel distribution models and the impact on consumer booking trends.
– Optimizing hotel and corporate pricing strategies through definition and management of all rates, rate levels, and other tactics to reflect demand and other market conditions.
– Effectively managing rates through all distribution channels.
– Leading the Revenue Team.
– Working with the DOSM and the Head of Marketing to determine effective and engaging rate offers and packages and ensuring that these offers target the right customer through the right channels.
– Monitoring transient and group booking pace to determine pricing and availability controls for all reservation distribution channels. Agree and implement changes accordingly.
– Completing all rooms and revenue forecasts in a timely manner to accurately project demand.
– Fully utilizing the Revenue Optimization Cycle of the Revenue Management System and ensuring that the appropriate overrides are in place, special events are accurately loaded, and the sharing of knowledge within the system is maintained.
– Working with the DOSM and Sales Team members to encourage strategic selection of the right pieces of business.
– Tracking and analysis of competitive set pricing and yield strategies, gaining the ability to predict the comp set reaction to changes in the marketplace.
– Monitoring the market, market conditions, new entrants and other data and information that may influence the hotel performance.
– Playing a pivotal role in the Strategic Planning, Marketing Plan, and budgeting processes.
– Chairing and preparing materials for the weekly Revenue Strategy Meetings and following the company guidelines for meeting content.
– Preparing revenue updates as required by the Revenue Team.
– Participating in community and RM professional organizations to maintain high visibility and promote a positive image of the hotel.
– Providing leadership, motivation and support to the RevenueTeam.
– Conducting monthly departmental meetings and weekly briefings.
– Ensuring all Reservation Agents and Sales Managers are aware of all rates, promotions and corporate programs at all times.
– Any other responsibilities as required.