Revenue Manager

at  Eastons Group of Hotels Inc

JOB OVERVIEW

Implement and support company pricing, market strategy, yield, distribution & selling strategies, and revenue management best practices. Manage hotel revenue generation & maximization through full utilization of company systems, business processes and specifications. Manage the in–house Reservations Department.

Duties and Responsibilities

• Receive all definite and tentative group bookings and provide General Manager with a qualified analysis of how each booking will impact occupancy, average rate, and room profit over the dates in question. Review and approve all group proposals with the Sales and/or General Manager. Collaborate with Sales Department on group rates.
• Works closely with the hotel’s brand Revenue Management team, hotel sales and hotel management to establish and implement pricing, yield, and selling strategies for the hotel, based on market factors and company guidelines.
• Explore and provide variations in the market mix which would stimulate additional revenue without increasing costs.
• Responsible for the maintenance of the Group Sales software programs which contribute to the management of the room’s revenue.
• Responsible for balancing the hotel’s property management system and group sales software program.
• Maintain current data in the Hotel Content System.
• Establish hotel pricing levels in all segments.
• Monitor competitor strategies and data; maintain an understanding of the dynamics of the local market and demand generators and present appropriate action plans to management. Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
• Assist with the annual hotel budget development and ongoing results analysis.
• Prepare accurate monthly forecasts by segment.
• Ensure reservation staff are properly trained and have the tools and equipment to effectively carry out their job functions.
• Promote teamwork and quality service through daily communication/briefings and coordination with other departments. Key departmental contacts include all hotel departments.
• Interact with outside contacts:
• Guests – to ensure their total satisfaction.
• Corporate Revenue – to develop and implement support teams’ strategies.
• Other contacts as needed (Professional organizations, community groups
• Responsible for the daily room inventory management process. Actively monitor group blocks to determine room availability for sale.
• Work closely with the Director of Sales & Marketing and the Guest Services Manager to ensure their departmental objectives and responsibilities to The Hotel Management Group are met without hurting the total.
• Rooms revenue management. This is with special attention to Corporate Marketing Programs, Special Promotions, Loyalty Members, Local Volume Accounts and Corporate Negotiated Accounts.
• Prepare quarterly presentations or reports for the Revenue Management Committee of the Team’s progress toward the goals of the five-year forecast. Include a detailed analysis of The Impact of Group Bookings, Adjustments to the current Year Forecast, and Analysis of Variances.
• Conduct a weekly Revenue Management Meeting where the current 120-day booking period is evaluated for proper rate and availability control. As chairperson, the Revenue Manager gives a synopsis of results vs. decisions from the previous week and leads a discussion on future issues.
• Prepare all reports and analyses necessary to conduct the above-stated meeting.
• Receive all revisions to definite and tentative group bookings to prepare revised analyses as needed.
• May assist with other duties and responsibilities as assigned.
• In carrying out your duties you will follow all Company and Brand Standards.

QUALIFICATIONS AND REQUIREMENTS

• Bachelor’s degree in Hotel Administration, Business Administration and 2 plus years of hotel management experience or related experience. Revenue Management or Pricing experience is preferred. Must speak fluent English.
• This job requires the ability to perform the following:
• Carrying or lifting items weighing up to 10 pounds
• Use a keyboard to operate various property management and reservations systems, etc.
• Other:
• Communication skills are utilized a significant amount of time when interacting with others; demonstrated ability to interact with customers, employees and third parties that reflects highly on the hotel, the brand, and the Company.
• Mathematical skills, including basic math, budgeting, profit/loss concepts, percentages, and variances are utilized frequently.
• Understanding of microeconomics as it applies to the hotel business.
• 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.
• Strong computer skills are required.
• Strong reading and writing abilities are required.
• Problem-solving, reasoning, motivating, organizational and training abilities are used often.
• Ability to travel to attend workshops, specialized training and or certifications.
• May be required to work nights, weekends, and/or holidays.

• Receive all definite and tentative group bookings and provide General Manager with a qualified analysis of how each booking will impact occupancy, average rate, and room profit over the dates in question. Review and approve all group proposals with the Sales and/or General Manager. Collaborate with Sales Department on group rates.
• Works closely with the hotel’s brand Revenue Management team, hotel sales and hotel management to establish and implement pricing, yield, and selling strategies for the hotel, based on market factors and company guidelines.
• Explore and provide variations in the market mix which would stimulate additional revenue without increasing costs.
• Responsible for the maintenance of the Group Sales software programs which contribute to the management of the room’s revenue.
• Responsible for balancing the hotel’s property management system and group sales software program.
• Maintain current data in the Hotel Content System.
• Establish hotel pricing levels in all segments.
• Monitor competitor strategies and data; maintain an understanding of the dynamics of the local market and demand generators and present appropriate action plans to management. Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
• Assist with the annual hotel budget development and ongoing results analysis.
• Prepare accurate monthly forecasts by segment.
• Ensure reservation staff are properly trained and have the tools and equipment to effectively carry out their job functions.
• Promote teamwork and quality service through daily communication/briefings and coordination with other departments. Key departmental contacts include all hotel departments.
• Interact with outside contacts:
• Guests – to ensure their total satisfaction.
• Corporate Revenue – to develop and implement support teams’ strategies.
• Other contacts as needed (Professional organizations, community groups
• Responsible for the daily room inventory management process. Actively monitor group blocks to determine room availability for sale.
• Work closely with the Director of Sales & Marketing and the Guest Services Manager to ensure their departmental objectives and responsibilities to The Hotel Management Group are met without hurting the total.
• Rooms revenue management. This is with special attention to Corporate Marketing Programs, Special Promotions, Loyalty Members, Local Volume Accounts and Corporate Negotiated Accounts.
• Prepare quarterly presentations or reports for the Revenue Management Committee of the Team’s progress toward the goals of the five-year forecast. Include a detailed analysis of The Impact of Group Bookings, Adjustments to the current Year Forecast, and Analysis of Variances.
• Conduct a weekly Revenue Management Meeting where the current 120-day booking period is evaluated for proper rate and availability control. As chairperson, the Revenue Manager gives a synopsis of results vs. decisions from the previous week and leads a discussion on future issues.
• Prepare all reports and analyses necessary to conduct the above-stated meeting.
• Receive all revisions to definite and tentative group bookings to prepare revised analyses as needed.
• May assist with other duties and responsibilities as assigned.
• In carrying out your duties you will follow all Company and Brand Standards