Revenue Manager

JOB SUMMARY

Responsible for managing and coordinating the revenue management functions (pricing competitive assessments etc.) and inventory strategy for hotels across all brands. This includes all room segments (transient group and contract). Responsible for understanding and communicating various Revenue Management philosophies as they pertain to brand and/or geographic strategies. Communicates and educates the hotels on proper pricing competitive positioning and restrictions and the impact that they may have on the hotels revenue strategies.

CANDIDATE PROFILE

Education and Experience

3 years experience in front office sales and marketing management operations finance e-commerce or related professional area.

OR

2-year degree from an accredited university in a relevant business discipline and 2 years experience in Revenue Management

CORE WORK ACTIVITIES

Executing Revenue Management Projects and Strategy

Manages room authorizations rates and restrictions

Analyzes competitive performance through the use of market share tools and make recommendations to the hotel

Analyzes reports and available information to make long term pricing recommendations with brand initiatives as a key focus

Develops and implements with the General Manager and Sales strategies that will maintain and/or increase the hotels RevPAR

Utilizes Marriotts revenue management systems and tools to ensure that revenue and profit are maximized

Conducts Sales Strategy meetings with General Manager and key property staff to educate and evaluate pricing and inventory strategies

Verifies that the hotel(s) sales strategies are effectively implemented in the inventory systems

Prepares sales strategy critique.

Validates that sales strategies and rate restrictions are communicated implemented and modified as market conditions fluctuate.

Uses reservations system and demand forecasting systems to determine implement and control selling strategies.

Verifies compliance and participation in company promotions and eCommerce channels

Understands the working relationship between sales reservations and property management systems.

Determines optimal contract mix and monitors its value to overall property strategy

Evaluates and executes eChannel/on-line travel agent (OTA) strategy

Evaluates and executes special events and holiday strategies

Evaluates trends and executes changes in the group strategy

Evaluates trends and executes changes related to market share

Evaluates market level changes and their impact to property strategy

Completes monthly revenue projections

Executes promotions programs and packages

Critiques property revenue performance

Executes property strategy conference calls

Manages room authorizations rates and restrictions

Evaluates transient segmentation including demand and booking pace by segment

Evaluate transient source markets and customer buying behavior for each segment

Monitors and adjusts for optimal mix

Validates that retail rates are evaluated through One Yields Retail Pricing Optimizer and updated based on changes in demand product or competitive positioning

Evaluates premium room type pricing and premium paid occupancy

Verifies that retail price parity is executed across all booking channels

Executes pricing through High Performance Pricing

Utilizes the Special Corporate Pricing Tool to analyze production grades and recommendations to establish account pricing

Evaluates the Special Corporate segment including evaluating new accounts and account performance.

Evaluates the Wholesale segment including evaluating new accounts and account production

Collaborates with Sales to complete annual Special Corporate and Wholesale pricing

Building Successful Relationships

Proactively develops constructive and cooperative working relationships with stakeholders and maintains them over time.

Acts as a liaison when necessary between property and regional/corporate systems support.

Informs and/or updates the executives and peers on relevant information in a timely manner.

MANAGEMENT COMPETENICES

Leadership

Adaptability - Maintains performance level under pressure or when experiencing changes or challenges in

the workplace.

Communication - Conveys information and ideas to others in a convincing and engaging manner through a

variety of methods.

Problem Solving and Decision Making - Identifies and understands issues problems and opportunities;

obtains and compares information from different sources to draw conclusions develop and evaluate

alternatives and solutions solve problems and choose a course of action.

Professional Demeanor - Exhibits behavioral styles that convey confidence and command respect from

others; makes a good first impression and represents the company in alignment with its values.

Managing Execution

Building and Contributing to Teams - Actively participates as a member of a team to move the team

toward the completion of goals.

Driving for Results - Sets high standards of performance for self and/or others; assumes responsibility for

work objectives; initiates focuses and monitors the efforts of self and/or others toward the accomplishment

goals; proactively takes action and goes beyond what is required.

Planning and Organizing - Gathers information and resources required to set a plan of action for self and/or

others; prioritizes and arranges work requirements to accomplish goals and ensure work is completed.

Building Relationships

Coworker Relationships - Interacts with others in a way that builds openness trust and confidence in the

pursuit of organizational goals and lasting relationships.

Customer Relationships - Develops and sustains relationships based on an understanding of customer

needs and actions consistent with the companys service standards.

Global Mindset - Supports employees and business partners with diverse styles abilities motivations

and/or cultural perspectives; utilizes differences to drive innovation engagement and enhance business

results; and ensures employees are given the opportunity to contribute to their full potential.

Generating Talent and Organizational Capability

Organizational Capability - Evaluates and adapts the structure of own assignments and suggests

improvements to work processes to best fit the needs and/or support the goals of an organizational unit.

Talent Management - Provides support and feedback to help individuals develop and strengthen skills and

abilities needed to accomplish work objectives.

Learning and Applying Professional Expertise

Applied Learning - Seeks and makes the most of learning opportunities to improve performance of self

and/or others.

Business Acumen - Understands and utilizes business information to manage everyday operations.

Technical Acumen - Understands and utilizes professional skills and knowledge in a specific functional area

to conduct.

o Revenue Management - Knowledge of revenue management concepts processes and strategies

such as average daily rate revenue per available room sales cycles and trends account

management pricing and inventory management. Skill in using a Yield Management system and

interpreting pricing and inventory reports.

Analysis - The ability to analyze and summarize detailed data to make inferences and

recommendations. Included is the creation and maintenance of spreadsheets for storing data.

o Research - Skill in collecting information from a variety of sources relating to market data historical

cycles travel and tourism trends and real estate market dynamics. The ability to know when to

seek addition information and where to look to find it.

o Inventory Management - The ability to manage rooms and function space restrictions and

thresholds using systems or manually in order to maximize revenue/profit across all segments.

o Computer Skills - The willingness to learn and ability to use computer systems and software

packages to input access modify store or output information or to execute programs and

analyses. This includes the ability to enter and retrieve data from computer systems using a

keyboard mouse or trackball

o Economics and Finance - Knowledge of economic principles and practices P&L statements

operating budgets forecasting and scheduling and the reporting of financial data.

o Sales and Marketing - Knowledge of sales and marketing concepts including principles and

methods for showing promoting and selling products or services as well as marketing strategies

and tactics.

Basic Competencies - Fundamental competencies required for accomplishing basic work activities.

o Basic Computer Skills - Uses basic computer hardware and software (e.g. personal computers

word processing software Internet browsers etc.).

o Mathematical Reasoning - Demonstrates ability to add subtract multiply or divide quickly

correctly and in a way that allows one to solve work-related issues.

o Oral Comprehension - Demonstrates ability to listen to and understand information and ideas

presented through spoken words and sentences.

o Reading Comprehension - Demonstrates understanding of written sentences and paragraphs in

work-related documents.

o Writing - Communicates effectively in writing as appropriate for the needs of the audience.