Position Summary
Maximize room revenues to and for the Hotel. Lead cross functional decision making of room revenue generating departments including Sales and Marketing, Rooms departments. Manage all aspects of competitor intelligence; pricing; management of room inventory, and/or the yield hurdle points; distribution channels, market segment mix; acceptance/denial of major group bookings.
Responsibilities
- Maximize the hotel’s revenue on a daily basis, accurately forecast the hotels’ future business by day-of-week and by market segment, complete a 30-60-90 day-by-day forecast on regular base.
- Develop and implement effective transient & group pricing and selling strategies by following brand standards.
- Work with sales department to develop annual sales budget by segments, monitor and revise the budget on monthly base to maximize revenue towards the end of the year.
- Facilitate communication among all revenue team members to ensure all perspectives are considered and strategies understood. -- -- Ensure all relevant hotel departments and members of the sales team are adhering to all standard workflow processes in order to optimize revenue performance and tracking (this includes group coordinators, reservations, front office, sales, etc.).
- Monitor and determine demand periods of rooms through an analysis of historical data and current bookings.
- Responsible for tracking and analyzing of booking pace, group wash, cut off enforcement for groups as well as denied and regretted business.
- Manage all channels (CRO, GDS, Internet direct and indirect) including but not limited to room types and sell strategy.
- Responsible for ensuring compliance with the Best Available Rate Guarantee and managing third party distributors in compliance with WYNDHAM standards and rules.
- Contribute to and support all strategic business planning and related hotel concerns. Anticipate the need for, and utilize, promotions during “need” periods.
- Utilize all tools available to assist with optimizing the hotel’s yield such as subscription-based marketing intelligence reports. Utilize all tools to evaluate the hotel’s position with respect to competition in terms of pricing, market mix strategy, understands the dynamic of the local market and the demand generators, and recommends appropriate actions in relation to the hotel’s pricing and market mix strategy.
- Consistently evaluate revenue management tools and processes for accuracy and appropriate parameters in the following areas: inventory, rates, transient demand, group forecast, and group potential.
- Understand the composition of hotel profitability, and uses this to evaluate business from local accounts and groups so as to provide input to future rate setting and negotiation.
- Supervise reservation department and e-Commerce, maximize revenue through reservation sales agents and e-Commerce venues, control single image room inventory in all systems to maximize potential for each room type.
- Approve and/or implement sell strategies for all group proposals above 9 rooms on any one night, and collaborates with the Director of Sales or Director of Catering on setting group and conference rates.
- Manage use of revenue systems* on a daily basis (if applicable). This includes the responsibility for any manipulation of the yield hurdle points and daily inventory balancing where appropriate. Where a yield management system is not installed this includes responsibility for opening or closing Wyndham CRS/PMS.
- Provide monthly reporting on historical activity, as well as future data to be used for strategic decisions.
- Conduct weekly rate/sell strategy (yield) meetings with General Manager, Director of Sales & Marketing, Reservations Manager, Front Office Manager and Catering Manager. (ensure conversation revolves around maximizing all revenues) .
- Participate in company’s revenue conference calls/meetings. Facilitate the Revenue Room Meeting (which the GM chairs) and generates reports and analyses needed for these meetings, displaying key facts/trends etc., on the revenue room walls.
- Conduct regular communication with Corporate Director of Revenue Management, and conduct annual revenue management audit (including rate audit, system audit, content audit, OTA audit, etc).
- Provide technical support to Reservations and Front Office on up-selling and negotiating techniques.
- Educate all staff members on revenue management philosophy.
- Work with Human Resources on manpower planning and management needs.
- Work with Director of Finance in the preparation and management of the Department’s budget.
- Complete other tasks which assigned by the leader.
Abilities / Key Competencies / Skills
- Good communication skills.
- Demonstrated knowledge of effective hotel pricing concepts, yield management optimization and selling strategies, and ability to determine which concepts to apply in given market conditions.
- Proficient in managing different types of CRS/PMS/RMS, capable of providing training to reservation team and e-Commerce team.
- Proficient in the use of Microsoft Office, e.g. Excel, PowerPoint, Word, etc.
- Problem solving, analytical, reasoning, motivating, organizational and training abilities.
- Good English writing and speaking skills. Bi-lingual skill is strongly recommended.
Education / Certificates /Experience
- Bachelor’s degree in Hotel Administration or Business Administration is highly recommended, or equivalent education.
- 3-5 years of relevant experience or similar supervisory role, or an equivalent combination of education and work-related experience. Previous Revenue Management or Pricing experience is preferred.
