Revenue Manager

JOB SUMMARY
Responsible for overseeing and coordinating the revenue management functions and inventory strategy for hotels across all brands in the Dubai market. This includes all room segments (transient, group, and contract) as well as catering and function space. Responsible for understanding and communicating various Revenue Management philosophies as they pertain to brand and/or geographic strategies. Communicate and educate the hotels on correctly positioned pricing, competitive positioning and restrictions and the impact that they may have on the hotels’ revenue strategies.

CORE DELIVERABLES

• Accountable for delivering core revenue management services supporting Transient, Group & Catering to assigned hotel(s)
• Ensures full RM system and RM tool adoption to drive revenue & profit opportunities
• Ensures that strategy recommendations/changes are implemented & executed in a timely manne
• Manages room authorizations, rates and restrictions for assigned hotel(s) to maximize revenue & profit
• Critique property performance weekly/monthly for Transient, Group & Catering segments for assigned hotels(s)
• Submits reports in a timely manner, ensuring delivery deadlines

CORE WORK ACTIVITIES

• Executing Revenue Management Projects and Strategy
• Manage room authorizations, rates and restrictions
• Takes a predetermined strategy and drives the execution of that strategy.
• Provides inventory management functional expertise.
• Management of rate loading & system audits
• Analyze competitive performance through the use of market share tools and make recommendations to the hotel
• Analyze reports and available information to make long term pricing recommendations with brand initiatives as a key focus
• Develop and implement with the General Manager and Sales, strategies that will maintain and/or increase the hotel’s RevPAR
• Utilize Marriott’s revenue management systems and tools to ensure that revenue and profit are maximized
• Conduct weekly Sales Strategy meetings with General Manager and key property staff to educate and evaluate pricing and inventory strategies
• Ensure that the hotel(s) sales strategies are effectively implemented in the inventory systems
• Monitors transient and group inventory daily to ensure straight-line availability and maximization of revenue potential for all brands.
• Prepares sales strategy critique & month end reporting for hotel(s).
• Ensures 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.
• Ensures property diagnostic processes (PDP) recommendations are implemented in a timely manner & used to maximize revenue and profits.
• Ensures compliance and participation in company promotions and eCommerce channels
• Understands the working relationship between sales, reservations and property management systems.
• Ensures compliance and participation in company promotions and eCommerce channels.
• Execution of eChannel/on-line travel agent (OTA) strategy
• Execute special events and holiday strategies
• Execute changes in the group strategy
• Performs displacement analysis with additional support from Senior Leaders
• Evaluate trends and execute changes related to market share
• Evaluate market level changes and their impact to property strategy
• Complete weekly/monthly revenue projections for transient & group segments
• Execute loading of promotions, programs, and packages in inventory management systems
• Critique property revenue performance
• Develop and maintain Rate Value Matrix for all key segments
• Evaluate transient & group segmentation, including demand and booking pace by segment
• Evaluate transient & group source markets and customer buying behavior for each segment
• Monitor and adjust for optimal mix
• Ensure retail rates are evaluated through One Yield’s Retail Pricing Optimizer and updated based on changes in demand, product, or competitive positioning
• Evaluate premium room type pricing and premium paid occupancy through adoption of the Premium Room Pricing tool (PRP)
• Ensure retail price parity is executed across all booking channels
• Execute pricing through High Performance Pricing
• Update and utilize tracking tools available to monitor key segment performance (transient & group) to provide future recommendations or highlight the need for more detailed analysis to Director of Revenue Analysis

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, the peers and the subordinates on relevant information in a timely manner.
• Develops and manages internal key stakeholder relationships