Director of Revenue Management

Hyatt   •  

Newport Beach, CA

Industry: Hospitality & Recreation

  •  

Less than 5 years

Posted 180 days ago

This job is no longer available.

Job Description:

Maximize overall hotel revenue for rooms and food and beverage through the implementation of effective pricing and distribution strategies for this 343 room hotel. Out-perform direct competitors by winning market share with rational and competitive pricing, distribution strategy backed by targeted marketing, and careful management of hotel inventory to maximize topline revenue and yield high net profits.  Manage and oversee revenue management analytic functions to produce reporting that support and evaluate hotel business strategies.  Provide guidance and support sales and marketing initiatives that are targeted to meet the needs of the hotel.  Produce accurate revenue forecasts that help set hotel goals and outgrow the competition.  Display leadership qualities that mentor, develop, and guide hotel team members such as revenue analysts and managers.

 

Position Responsibilities / Essential Functions: 

Oversee and guide the hotel revenue management team to formulate transient and group inventory restrictions and pricing strategies towards the goal of increasing market share and maximizing revenues for the hotel.

Implement hotel sales strategy and pricing recommendations across all channels, hotel revenue systems and market segments. 

Analyze results of strategies and tactics deployed on a monthly basis. Provide all communication necessary to hotels team, regional teams and ownership groups 

Responsible for executing hotel corporate revenue management initiatives, and maintaining the standards outlined in the Revenue Management Standards and Procedures manual.

Manage the relationship with each of the four major OTA market managers to ensure that the hotel is maximizing revenue and marketing exposure from each of our top partners.                                

Create the revenue forecasting process for the hotel to ensure that the accuracy of each forecast falls within hotel standards. This includes the 11 day, Monthly and Annual forecast as needed. Prepare the Annual Budget for the hotel. 

Work with the hotel General Manager and Director of Sales and Marketing to develop and implement group pricing and inventory strategies for the entire group-booking cycle.

Develop pricing strategy with the General Manager and Director of Sales and Marketing for the business/leisure travel sales team based on demand projections and competitive shops. Partner with the Director of Sales and Marketing to ensure that hotel strategy is implemented on an account-by-account basis. 

Partner with the hotels General Manager and Director of Sales/Marketing to develop and implement the hotel SEO/SEM goals in conjunction with TIG/Milestone. Focus the teams on tactics that produce the highest revenue and return on investment.

Facilitate and lead weekly hotel Sales Strategy meetings in accordance with Hotel Revenue Management standards

Facilitate Daily Business Review meetings in accordance with Hotel Revenue Management standards.

Effectively manage and maintain the hotels revenue management systems including PRIO, Reserve, Opera, Envision and Passkey in accordance with hotel Revenue Management Standards.

Coordinate with the front office team to maximize revenue from the following programs; Front Desk up-sell programs, sell out management effectiveness.

Work closely with the Convention Services Team/Space Manager to ensure that hotel meeting space is properly utilized to maximize room and food and beverage revenue potential. 

Represent the hotel by participating in and/or conducting industry functions in the area. 

Develop working relationships with managers in the Group Sales, Event Sales, and Convention Service staff, providing consultation on strategies for booking optimal group and catering business

 

Quantitative Dimensions:

Market share as measured on the STAR report

Revenue performance as measured against the annual budget

Revenue Management Scorecard

 

Core Competencies: 

Teamwork – Fosters collaborative relationships with other managing committee members and department heads in the hotel to effectively implement a wide range of revenue strategies.  Able to educate others on the hotel team on sound revenue management strategies and principles.

 

Oral and Written Communications – Communicates effectively at all levels both verbally and in writing; responds appropriately to verbal and non-verbal cues; can succinctly get messages across that have the desired effect. Educates team members on the strategies and trends of the hotel and local lodging market as a whole.

                

Leadership:  Matches leadership style to the needs of individuals and teams; delegates and provides guidance and coaching accordingly; anticipates and quickly addresses skill or behavioral gaps before they create performance issues; identifies and recognizes good performance; does not tolerate poor performance and works quickly to get employees back on track. Models and expects from others the behaviors identified in the hotels core values and Code of Business Conduct and Ethics.  

   

Education, Certification & Licenses:

High School Diploma or equivalent required

Bachelor’s Degree required

 

Experience:

Minimum of 3 years of experiencerequired as Revenue Manager in a hotel revenue management organization.

Minimum of 3 years required leading others in a dynamic team environment.

Minimum of 3 years of experiencerequired with Excel and related data management systems

 

Computer Skills:

Technically skilled in managing all systems related to Revenue Management. These include but are not limited to Hotel Industry Revenue Management Systems, Central Reservation Systems, Property Management Systems, Sales and Catering Systems, Passkey and Cognos or another form of business intelligence tool

Intermediate or Expert skill level in the use of the Microsoft Office suite of applications such as Excel, Word, Access, PowerPoint and Outlook