The Corporate Director of Revenue Management is responsible for maximizing the company revenue through management of the Area Revenue
Managers. He/she also has a group of assigned hotels and working in tandem with the individual hotel General Manager, Director of Sales, along with other leadership roles including, but not limited to Regional Operations Managers, VP of Sales & Operations. This position ensures each hotel is maximizing every revenue opportunity through day-to-day activities and communications with the hotel teams. The Corporate Director oversees all Area Revenue Managers.
- Develop and implement revenue management strategies and tactics for each property, utilizing data-driven analysis, pricing tools, and market
- intelligence to optimize revenue and occupancy levels
- Conduct ongoing analysis of demand patterns, market trends, and competitive pricing to identify revenue opportunities and recommend changes to pricing and distribution strategies
- Develop and maintain relationships with third party vendors on behalf of hotels
- Develop and implement sales initiatives to drive revenue growth, including group sales, direct marketing, online distribution and Media Campaigns
- Monitor the competitive set for occupancy and rate, and recommend changes based on findings
- Monitor room type inventory, programming, sell through limits and house restrictions.
- Maintain a professional working relationship and promote open lines of communication with managers, team members, and other departments.
- Fully understand, monitor and support all franchise programs associated with revenue applications.
- Manage restrictions in accordance with the hotel’s rate strategy
- Work closely with GM/DOSM to produce monthly projections
- Responsible for participating in the annual budget process
- Conduct Revenue Strategy meetings to review previous week and set strategies up to 365 days out
- Direct sales skills and thorough understanding of Transient Sales process
- Ensure all rates are loaded properly
- Participate in creating standard reporting procedures distributed to upper management including but not limited to STR analysis, pace reports, company statistics and other metrics as needed.
- Analyze business levels, both transient and group; alerting hotels to trends outside of the norm along with providing recommendations that will maximize revenue for each given situation
- Oversee the implementation of revenue management technology and processes to ensure optimal pricing and inventory controls are in place
- Provide leadership and guidance to Area Revenue Managers, ensuring they are aligned with revenue goals and strategies
- Hire, train, mentor Area Revenue Managers
- Conduct regular performance reviews and analysis to evaluate revenue performance and identify opportunities for improvement
- Attend or conduct all training/meetings as required by management and Brand
- Perform other duties as requested by management
