Director of Revenue
Skills
About This Role
Overview
- Reporting to the General Manager, the main responsibilities and essential job functions include but are not limited to the following:
- Play an active role in the strategic planning, marketing plan and budgeting processes, challenging the strategy with the General Manager & Director of Sales and Marketing.
- Prepare the annual topline budget for approval and track achievement, across all revenue streams: rooms, F&B, MICE, Spa & other ancillaries.
- Monitor transient and group book pace to determine pricing and availability controls for all reservation distribution sources.
- Monitor key indicators of hotel performance. Chairing and preparing analysis & materials for the weekly revenue strategy meetings.
- Track and analyze competitive set pricing and yield strategies, gaining the ability to predict the competitive set reaction to changes in the marketplace.
- Produce and analyze current and historical demand including lost business turndown, rooms on the books, competitive set and market trends to aid in more accurate forecasting.
- Monitor third party intelligence sources to identify revenue opportunities (OTA, GDS, market studies). Keep current with industry changes and how it may impact demand.
- Work with Director of Sales and Director of Marketing teams to encourage strategic selection of the right piece of business, determine effective and engaging offers.
- Work with Reservations and Front Desk to ensure the highest level of guest service is maintained while maximizing profit. Provides training on upselling and negotiating techniques.
- Revenue Culture: Liaise with all teams to ensure revenue management principles are understood and followed. Provides guided learning so that all areas of the hotel that impact revenue are fully aware of the hotel Revenue Management strategies and understand their role in the plan.
- Maintain and improves rate standards, policies, and procedures.
- Lead/manage a team, whether functionally or hierarchically ( RM apprentices , reservation, distribution desks).
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