Director of Revenue Management
Purpose of the job To maximize overall hotel revenue, at the same time balance profitability, though implementation of an effective revenue management process and data driven, fact based business decisions. To take on leadership and decision making role for property pricing, distribution and trade off decisions concern any piece of business (crew, group corporate account, etc.). Primary Responsibilities Market Share - Build the Hotels Room Revenue Market Share by deploying effective Revenue Management Practices. Forecasting - Produce demand forecast weekly; deploy transient and group inventory restrictions and pricing strategies designed to maximize revenue from a rate and occupancy perspective. - Ensure forecasts are +-3' of actual result as accurate forecasting will underpin market share growth. Market Mix - Ensure that the hotel has the optimal market mix to maximize revenues and profitability. Including online distribution directly through hotel website. Pricing - Ensure optimal pricing for all market segments, specifically focusing on Retail, Corporate and Groups. - Implement pricing as per LHI global pricing policies. - Ensure that pricing decisions are appropriately folded into the distribution channel strategies of the hotel, specifically for LHI websites, OTAs and GDS. - Actively works with DOSM and key Sales Managers to ensure maximization of revenue and market share growth. - Actively work with E-business manager on SEM/SEO, PPC strategies to maximize revenues through online channels. - Constantly monitor web and OTA performance and suggest improvement measures Group Business - Consult with Sales Managers on rate and inventory suitability of all potential group business. - Oversee the management of group block activity. Ensure that group cut-off dates, rooming lists, block activity (i.e. pickup, wash, etc) were all managed. Weekly Revenue Strategy - Drive weekly Revenue Management Committee meetings in accordance with LHI standards. ROME Agenda Automated Revenue Management System - If the hotel has or will install a revenue management system, take a leadership role in driving implementation and utilization of the tool to the benefit of the hotel and the revenue management process. Central Reservation System and Global Distribution System - Monitor to maintain consistency with property level inventory strategies and align with LHI Best Available Rate (BAR) pricing philosophy. - Analyze channel performance LHI channels (brand website, GDS, hotel direct) and third parties. Reservations - Mentor, coach and supervise Reservations Manager and Reservations Team. - Ensure a selling culture is developed where reservations associates are not order takers but sales people. - Implement Reservations Sales Training. Up-Selling - Develop and Up-Selling culture in the Hotel across all departments. - Instigate incentive programs for up-selling. Strategic Reporting and Data Integrity - Report on key strategic issues such as channel performance, ROI of promotions etc and ensure that data entry and output in all relevant systems and reports. Competition - Lead the Revenue Management Committee to become experts on the competition product and strategies ensuring that we know more about the competition than they know about us. F&B Revenue - To work with the F&B reservations team to ensure the best revenue in each outlet. - To work with the Director of Food & Beverage and outlet managers to develop and assist with implementation of activities to improve Rev per square foot, year on year. - In conjunction with the manager of restaurants and loyalty reservations to develop yield management and up-selling strategies. - To ensure management updating and use of customer data base is working to our revenue advantage. - In conjunction with F&B management to implement strategies to drive LAC card membership and usage and target new members. - In conjunction with Director of Catering to develop and monitor activities to improve yield per square foot from banquet floor. Key Results Area - Market Share growth against the Competitive Set. - An effective Revenue Management Committee in the hotel. - Adherence to LHI Corporate pricing and tracking policies. - A selling culture across Reservations and Front Office.