This position reports directly to the hotel’s General Manager. The Director of Revenue Management (Full Service) is responsible for maximizing revenue opportunities through the development and implementation of effective transient/group inventory and pricing strategies, banquet and catering revenue as well as all other revenue streams based on future demand forecast, current and historical trends. This included the development and deployment of transient/group inventory restrictions and pricing strategies to maximize revenue from a RevPAR perspective. Duties also include the monitoring and management of inventory via various distribution channels including but not limited to CRS, Internet and GDS. This position will also be responsible for the design, deployment and monitoring of rolling forecasting and budgeting for each of their managed hotels which would include a full competitive analysis. The position’s success will be greatly benefited by consulting with third party intermediaries such as Expedia, Orbitz and Travelocity to gain maximum exposure and revenue gains for the hotel as well as complete analysis of local events and activities and a projection of the revenue opportunities they create for the hotel.
EXAMPLES OF JOB KEY DUTIES:
• Analyze short and long term forecasting.
• Analyze trends in group and transient inventory to include occupancy, rates, product line and strategic sales goals.
• Prepare revenue managementreports and information for Owners, Corporate Office, General Managers, Department Heads and all related meetings.
DESIGN & DISTRIBUTION (%) OF KEY JOB FUNCTIONS:
30% Critical Analysis of Strategies, Room Statistics & Demand:
- Review end of month room statisticsreports from the hotel’s PMS and RMS systems and provide critical analysis on performance vs. forecasts and result of implemented strategies (“month-end critique.”)
- Conduct displacement analysis of group business, as needed, to determine impact potential business will have on RevPAR.
- Review all tentative and definite group bookings, to ensure that they support implemented strategies.
- Complete weekly booking pace reports and analysis on pace, recommending strategy changes when needed.
- Analyze past and present trends and make recommendations for future strategies.
20% Management & Maintenance of Group & Transient Inventory Controls:
- Daily review and implementation of room accommodation, rate inventory and LOS in the PMS, RMS and CRS systems. Includes weekly implementation of roll-in controls.
- Ensure group inventory and cut-off dates are managed according to demand.
- Maintain accurate demand information in the RMS and PMS systems.
- Work with Front Office Manager and/or Reservation Manager to ensure that sell-out strategies are in place.
20% Develop, monitor and adjust sales and pricing strategies:
- Conduct weekly sales strategy meetings where the appropriate booking period is evaluated for the proper rate and availability control. The Director of Revenue Analysis will provide a synopsis of result vs. decision from the previous week and lead discussion on future issues such as booking pace, pricing strategies, marketing opportunities and the competitive environment.
- Review sales reports daily and collaborate with hotel’s sales management to establish action plans to address identified concerns.
- Review weekly and monthly sales data for the 365 day window, to include: group rate, transient demand and forecasted updates.
- Develop annual transient pricing. Ensure pricing is consistent in all distributionchannels (CRS, GDS, TPI).
- Review and collaborate with the management and distribution teams to the implement incentive programs to drive greater revenue.
- Prepare all weekly, monthly, three month and annual forecasts, using the hotel’s applicable PMS, sales, and forecasting systems. Forecasting should include an overview of banquets, catering and F&B outlets.
15% Competitive & Demand Analysis:
- Review all competitive shops on a consistent basis (at least once a week) and identify selling strategies and market trends.
- Review demand calendars, convention calendars and city event calendars to keep abreast of all demand generators.
- Site competitive set and network competitive set Revenue Manager.
- Produce and maintain twice a year the value assessment for your competitive set.
- Maintain historical data on events and performance on any promotions during demand-generating events.
REQUIRED KNOWLEDGE, SKILL & ABILITIES:
A candidate for this position must possess the following applicable knowledge, skills and abilities and be able to demonstrate and provide applicable examples to support their competencies therein.
- Bachelor's degree in Hotel Management (or equivalency) MBA preferred
- Excellent oral and written communication skills.
- Excellent organization skills.
- Ability to work under pressure.
- Appropriate professional appearance and demeanor.
- Ability to deliver presentations in a concise, well-organized manner.
- Proficient at statistical and competitive analysis.
- Proficient in Microsoft Word, Excel and PowerPoint.
- Certified in the use of CRS, PMS and Revenue Management System and other related systems or an ability to quickly learn and utilize these systems.
- Strong experience or adaptable training in the use of automated systems, personal computers and software programs.
- Experienced as a Director of Front Office, Revenue Manager or Director of Sales of Sales preferred. Related analytical experience essential.
Additional Job Description
Sonesta recognizes that benefits play a vital role in helping ensure the health and financialsecurity of employees and their families. We offer a variety of benefits to our employees including:
- Health Benefits (Health & Dental Insurance)
- 401(k) Retirement Plan
- Sonesta Hotels & Other Outlets Discounts
- Paid Holidays
- Sick Days
- Educational Assistance
- Employee Recognition Programs
- Newborn & Adopted Child Leave
- Spousal & Domestic Partner Leave
- Life Insurance
- Short Term Disability
- Long term Disability
- Employee Referral Program
- Credit Union
- Direct Deposit
- Employee Activities & Events