The Revenue Manager is responsible for maximizing revenue opportunities through the development and implementation of effective short and long-term inventory and pricing strategies.
Requirements
- Analyze short- and long-term forecasting.
- Analyze trends in inventory to include occupancy, rates, product line and strategic sales goals.
- Prepare revenue management reports and information for Owners, Corporate Office, General Managers, and all related meetings.
- Critical Analysis of Strategies, Room Statistics & Demand:
- Review end of month room statistics reports from the hotel’s PMS and RMS systems and provide critical analysis on performance vs. forecasts and result of implemented strategies (“month-end critique.”)
- Conduct displacement analysis of group business, as needed, to determine impact potential business will have on RevPAR.
- Complete weekly booking pace reports and analysis on pace, recommending strategy changes when needed.
- Analyze past and present trends and make recommendations for future strategies.
- Management & Maintenance of Group & Transient Inventory Controls:
- Daily review and implementation of transient rate strategy via RMS and CRS systems.
- Review all tentative and definite group bookings, to ensure that they support implemented strategies.
- Ensure group inventory and cut-off dates are managed according to demand.
- Maintain accurate demand information in the RMS and PMS systems.
- Work with General Manager and Operations Manager on oversell levels.
- Develop, monitor and adjust sales and pricing strategies:
- Conduct weekly sales strategy meetings where the appropriate booking period is evaluated for the proper rate and availability control.
- Review weekly and monthly sales data for the 365-day window, to include: group rate, extended stay rates, transient demand and forecasted updates.
- Develop annual transient pricing. Ensure pricing is consistent in all distribution channels (CRS, GDS, OTA).
- Forecasting:
- Prepare all weekly, monthly, three month and annual forecasts, using the hotel’s applicable PMS, sales, and forecasting systems.
- Competitive & Demand Analysis:
- Review all competitive shops on a consistent basis (at least once a week) and identify selling strategies and market trends.
- Review demand calendars, convention calendars and city event calendars to keep abreast of all demand generators.
- Site competitive set and network competitive set Revenue Manager.
- Produce and maintain twice a year the value assessment for your competitive set.
- Maintain historical data on events and performance on any promotions during demand-generating events.
Benefits
- Medical, Dental and Vision Insurance
- Health Savings Account with Company Match
- 401(k) Retirement Plan with Company Match
- Paid Vacation and Sick Days
- Sonesta Hotel Discounts
- Educational Assistance
- Paid Parental Leave
- Company Paid Life Insurance
- Company Paid Short Term and Long Term Disability Insurance
- Various Employee Perks and Discounts
- Hospital Indemnity
- Critical Illness Insurance
- Accident Insurance
