Revenue Manager
Rosewood Hotels and Resorts
Job Description Job summary: Maximize the overall hotel revenue and profit through development and implementation of effective inventory and pricing strategies, based on the future demand forecasts, current trends and historical data.
Responsible for determining the optimal mix of business as well as managing the distribution strategies on all channels to increase revenue and drive market share.
To communicate revenue management strategic vision to the leadership team of the hotel.
Responsibilities :
1. Know the Competitive Set DORM’s on a good basis in order to easily receive market information in which to report to the DOSM.
2. Drive market share and revenue performance through proper pricing, inventory controls and mix management.
3. Develop the overall pricing strategy to include all market segments and distribution channels – provide guidance on wholesale contracted account pricing, on group availability and pricing, ensure group sell guidelines and target rates are updated on a regular basis. Ensure effective pricing strategies are in place to reflect asset strength relative to the competition and specific market conditions.
4. Effectively manage inventory and pricing strategy on a distribution channel including Branded Web, 3rd Party sites, OTA and GDS – Focus on lowering distribution costs and driving room nights to the branded web, coordinate with field marketing for optimizing opportunities for incremental revenue and market share growth and communicate with field marketing re soft spot needs in the hotel.
5. Compile weekly analysis reports on competitor information and market rates on all the various online and offline channels. Understand inside and out the rates information on the entire competitive set.
6. Event Business – Consult with Sales Managers on rate / inventory suitability of all potential group business, oversee the management of the group block, cut off dates, rooming lists, group block activity.
7. Responsible for effective implementation and compliance with Rosewood Revenue Management standards.
8. Complete understanding of the reservation system and all reports that are purchased for competitive analysis.
9. Compliance to standards for rate plans, rate categories, market segment set-up, inventory classification.
10. Ensure Best Rate Guarantee compliance and maintain rate parity agreements with third parties.
11. Clearly communicate a strategic vision and objectives to the hotel team on how to drive revenue and improve performance.
12. Effectively communicate the current selling strategies. Ensure team members understand the concept of revenue management.
13. Lead the properties weekly revenue meeting.
14. Produce accurate forecasts on a weekly basis or monthly basis.
15. Regularly update market demand analysis in order to validate comp set RevPar forecast by month to ensure proactive strategies and effective soft spot calendar planning.
16. Lead the budget process for the top line room revenue numbers and work together with Sales & Marketing on the pricing and contracting strategy.
17. Monitor Food & Beverage revenue targets and create action plans and suggestion to meet those F & B targets.
Responsible for determining the optimal mix of business as well as managing the distribution strategies on all channels to increase revenue and drive market share.
To communicate revenue management strategic vision to the leadership team of the hotel.
Responsibilities :
1. Know the Competitive Set DORM’s on a good basis in order to easily receive market information in which to report to the DOSM.
2. Drive market share and revenue performance through proper pricing, inventory controls and mix management.
3. Develop the overall pricing strategy to include all market segments and distribution channels – provide guidance on wholesale contracted account pricing, on group availability and pricing, ensure group sell guidelines and target rates are updated on a regular basis. Ensure effective pricing strategies are in place to reflect asset strength relative to the competition and specific market conditions.
4. Effectively manage inventory and pricing strategy on a distribution channel including Branded Web, 3rd Party sites, OTA and GDS – Focus on lowering distribution costs and driving room nights to the branded web, coordinate with field marketing for optimizing opportunities for incremental revenue and market share growth and communicate with field marketing re soft spot needs in the hotel.
5. Compile weekly analysis reports on competitor information and market rates on all the various online and offline channels. Understand inside and out the rates information on the entire competitive set.
6. Event Business – Consult with Sales Managers on rate / inventory suitability of all potential group business, oversee the management of the group block, cut off dates, rooming lists, group block activity.
7. Responsible for effective implementation and compliance with Rosewood Revenue Management standards.
8. Complete understanding of the reservation system and all reports that are purchased for competitive analysis.
9. Compliance to standards for rate plans, rate categories, market segment set-up, inventory classification.
10. Ensure Best Rate Guarantee compliance and maintain rate parity agreements with third parties.
11. Clearly communicate a strategic vision and objectives to the hotel team on how to drive revenue and improve performance.
12. Effectively communicate the current selling strategies. Ensure team members understand the concept of revenue management.
13. Lead the properties weekly revenue meeting.
14. Produce accurate forecasts on a weekly basis or monthly basis.
15. Regularly update market demand analysis in order to validate comp set RevPar forecast by month to ensure proactive strategies and effective soft spot calendar planning.
16. Lead the budget process for the top line room revenue numbers and work together with Sales & Marketing on the pricing and contracting strategy.
17. Monitor Food & Beverage revenue targets and create action plans and suggestion to meet those F & B targets.
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