Director of Revenue Management

Omni Hotels & Resorts•Nashville, TN

1d•Onsite

About The Position

Omni Nashville is seeking a highly skilled and experienced Director of Revenue Management to join the team. This role will strategically coordinate the revenue management processes and procedures for hotel’s guest room, F&B, meeting space, and ancillary departments’ revenues (Total Hotel Revenue Management). This is accomplished by managing and maintaining group and transient inventory controls, developing, monitoring, and adjusting sales and pricing strategies for all revenue areas, analyzing demand factors, forecasting, and budgeting, competitive analysis, and maintaining distribution channel data integrity.

Requirements

Excellent oral and written communication skills
Excellent organization skills, manages time well, correctly prioritizes and is flexible
Ability to work under pressure and meet deadlines
Ability to manage and collaborate with outside departments and agencies
IDEAS experience preferred
Strong interpersonal skills and possession of a full understanding of professional business ethics, decorum, and social skills
Proficient in use of Microsoft Word, Excel, and PowerPoint
Understands Revenue Management theory and practice for rooms, F&B, and other revenue streams
Detail-oriented
Ability to perform critical analysis
Appropriate professional appearance and demeanor
Demonstrates self-confidence, energy, and enthusiasm
Ability to deliver presentations in a concise, well-organized manner
Bachelor's degree preferred or equivalent combination of education and experience
Minimum 3-5 years of experience as a Director of Revenue Management in full-service/upscale hotels

Responsibilities

Lead a consistent and robust revenue management program consistent with upscale, full-service hotels and resorts
Provide strategic leadership to the Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments, contributing to superior revenue growth and overall profitability of the hotel
Support the General Manager, Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments by providing pertinent information and tools to enhance the property’s sales and marketing efforts and decision-making processes
Identify, communicate, and execute opportunities to increase incremental revenue based on historical demand, regional, seasonal, and competitive influences and market, group performance, price sensitivity by market segment, demand, and reservation costs across multiple sales channels
This position, with assistance from the Director of Sales & Marketing, will provide short-term and long-term rooms revenue projections, including weekly, monthly, quarterly, and full-year projections
Effectively incorporate Omni Hotels & Resorts revenue management philosophy in all aspects of sales, marketing, and operations, including training and information sessions on behalf of all revenue generating positions
Conduct weekly revenue management meetings and as chair give synopsis of past strategies versus results. Lead the discussion on current/future issues. Stimulate discussions and analysis to determine effectiveness of selling, pricing and distribution strategies and determine the appropriate mix of business that will allow hotel to maximize both RevPAR and Market Share through appropriate mix management
Superior knowledge of CRS, RMS, and PMS systems to manage and maintain group and transient inventory and pricing controls for designated hotels (including as needed on weekends)
Responsible for the monitoring/maintenance of software programs including interfaces that support the management of room revenue
Support the company in technical transitions aimed at supporting the management of room revenue as they occur
Work with Convention Services and Reservations as needed to ensure effective and efficient management of group inventory daily – provide direction when needed on cutoff date extensions and additions to inventory
Attend each hotel’s weekly group-pick-up meetings to ensure group inventory management is in place. Lead meetings when needed
Coordinate and implement updates for Transient Protected in Sales System for the 1 – 5-year window
Utilize Omni’s Space Demand system to analyze trends and provide insight for meeting space pricing and revenue optimization
Lead development of key budgetary and forecast goals and objectives for Transient market segments with input on Group market segments. Develop budget to actual feedback and comparisons and report monthly achievements
Prepare 30-60-90 Day Transient Revenue Forecast monthly for presentation. Develop, monitor, and maintain all short term and long-term forecasts as outlined by company standards with forecasting to be demand-based to coincide with pricing strategy
Research, identify and develop revenue management opportunities, techniques and practices that contribute to superior RevPAR growth and market share increase
Explore market mix variations that would stimulate revenues
Analyze trends by market segment based on day of week, booking window and season to better develop pricing strategies
Transform theoretical knowledge gained from analysis into the business cycle, booking cycle and long-term strategic planning
Understand current Demand Generation climate and provide recommendations
Review all daily, weekly, and monthly booking pace reports for analysis on pace to recommend strategy changes
Monitor LOS and hurdle strategies recommended by RMS for market segments to maximize revenue contribution
Review each property’s annual pricing configuration, provide recommendations, and implement
Review hotel’s as well as competitions’ rate shops for multiple GDS, OTA and meta channels to ensure proper positioning of each hotel and assess competitive environment, along with maintaining parity
Review Demand calendars, convention calendars and city event calendars to keep abreast of all demand generators. Ensure each property contact utilizes all necessary demand information when planning strategies
Oversee development of pricing strategies for all local negotiated business, as well as global/GDS accounts based on market analysis in Agency360
Analyze marketplace reports such as STR & Demand 360, Agency 360 and other available applications and present the revenue opportunities in the analysis
Research and evaluation of secondary Distribution channels to identify strategic partnerships and affiliations to maximize distribution for the hotels or organization
Demonstrate understanding of channel management and optimization through pricing and inventory management
Manage inventory and rate structure in all channels to optimize revenues and margins
Work with the field marketing and digital teams to optimize all channels and social networks with relevant and timely offers