Posted December 3, 2018
Vice President of Revenue Management
Summary of Position:
The Vice President of Revenue Management is responsible for managing and participating in the combined revenue strategy efforts of leisure, business transient, wholesale, group, catering and other revenue generating outlets such as spa and golf through effective management of hotel inventories and pricing for all hotels in Classic Hotels & Resorts portfolio.
- Create an organization proficient at managing revenue strategies and tasks for multiple hotels and stakeholders on a daily basis.
- Maximize revenue, profit and market share by developing and mentoring a strong, knowledgeable team of revenue managers and analysts representing each hotel.
- Develop and maintain strong working relationships with all general managers, sales leaders, and all revenue-producing departments of each hotel.
- Conduct weekly yield meetings involving rate strategies for the next 90 days, group backlog, competitive business analysis, and financial room forecasts & budgets. Meeting to include: COO, Vice President of Sales and Marketing, property general managers and sales leaders, along with other property associates when required.
- Develop and maintain reports, rate strategies and demand forecast for the golf and spa operations.
- Produce rate strategies and guidelines for the Reservations Sales Team in the selling of hotel rooms, and work collaboratively with property Sales and Catering Teams to establish pricing for a minimum period of twelve months at all times.
- Work in tandem with the Vice President of Sales and Marketing in developing long-term group, transient and catering strategies to maximize revenue and profits for each hotel in the Classic Hotels & Resorts portfolio.
- Provide detailed historical demand via reports, rate strategies, and demand forecasts to aid in future business decisions by property sales teams.
- Support group, catering and reservation sales associates, group room coordinators, reservation, spa, and golf managers with communication of vital statistical information as needed.
- Produce monthly “90-day” rooms forecast for both group and transient segments in conjunction with property Directors of Sales.
- Produce both quarterly and annual demand forecasts to highlight high-demand, shoulder, and distressed periods for the hotel to be used in effectively monitoring discounts and promotional rates throughout the year.
- Produce “monthly” forecasting package to include the following: 90-day room forecast by day and by daily average room rate, rolling 12-month forecast, and forecasted comments regarding budget variances; distributed to key executive committee members.
- Produce “month-end” reports that include the following: market segmentation by day, travel pattern analysis by market segment by day of week, statistical summation analysis (by month and YTD), transient demand analysis, GDS Source information, regrets & denials by source, source reports, demographic reports reflective of month end production and market share penetration report.
- Monitor Synxis system to ensure that all transient rates are loaded and accessible via the global distribution system; ensure that all rates are loaded for a minimum period of a rolling twelve (12) months.
- Monitor GDS to ensure that hotel listing is current and accessible. Audit hotel’s database quarterly to ensure that hotel description and amenities are accurate and work effectively to sell the hotel.
- Development of the hotels annual guest room revenue budgets.
- Oversee and manage the daily tracking of business into the outlined “market segmentation” to be used to track historical data and facilitate future business decisions to forecast.
- Foster a cooperative working relationship with local competitor hotels in order to promote referrals as well as to keep abreast of market demand and trends.
- Maintain hotel inventories to ensure the accurate and profitable balance of group, business travel, wholesale, and transient room production throughout the year is maintained to ensure that budgeted revenue and RevPar goals are achieved consistently.
- Assist the Vice President of Sales and Marketing and Marketing Manager in the coordination marketing efforts (e-commerce, advertising, collateral, packages, brochures, promo codes etc.) for all hotels as it relates to both group and transient business to impact need periods and shoulder dates.
- Work collaboratively with fellow Classic Hotels & Resorts representatives on various projects and initiatives.
- Manage in compliance with established company policies and procedures and also local, state and federal laws & regulations.
Education: Bachelor’s Degree required.
Experience: Minimum five years of hotel Revenue Management leadership experience. Minimum three years of hotel sales or operations experience. Multi-property and Resort revenue management experience preferred.
Certificates or Licenses: N/A
Knowledge, Skills, and Abilities:
- Ability to interpret historical data, trends, STAR reports and apply revenue optimization strategies accordingly.
- Ability to use mathematical skills to interpret financial information.
- Knowledge of online travel agencies (OTA’s) and the ability to leverage relationships with OTA’s is required.
- Ability to maintain consistency, diplomacy and tact in challenging situations.
- Work in collaboration with various departments and associates.
- Knowledge of government regulations regarding business operation.
- Ability to format and write business letters, reports, and summaries using proper grammar, spelling, diction, and style.
- Ability to present information in a logical format to a group of co-workers, managers and owners.
- Ability to make quick and efficient decisions to benefit the hotels and guests.
- Ability to utilize the Microsoft Office Suite including Excel, PowerPoint, Word, and Outlook.
- Working knowledge of Delphi and PMS system.
- Experience using the internet and internet booking vehicles.
- Working knowledge of a “GDS Booking vehicle”, such as Synxis, to manage hotel inventory and rates.
- Knowledge of Springer Miller, Opera and Delphi preferred.
- Behaves ethically.
- Organized: Maintain a neat, organized workspace, maintaining important documents pertinent to reservation requests.
- Communicates effectively: Speaks and listens in a clear, thorough, and timely manner, effectively reading and writing, using the English language.
- Professional Appearance: Exhibits an appearance appropriate for a four-diamond resort (Specific grooming standards are available for review).