Director of Revenue Management

Omni Hotels & Spas•Fort Lauderdale, FL

About The Position

The role of the Director, Revenue Management, 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 well under pressure and meet deadlines.
Ability to manage and collaborate with outside departments and agencies.
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 2-3 years of experience as a Director of Revenue Management in full-service/upscale hotels.

Responsibilities

As an Executive Committee member, 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 by leading a creative and robust revenue management program consistent with upscale, full-service hotels and resorts.
Strong functional expertise and entrepreneurial leadership to meet the business needs of the operation.
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 the 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.
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 Weekly Operational forecast and 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.
Achieve forecasting accuracy for Transient market segments as set forth by company Strategy and Analysis.
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.
Attend Daily Business Review and offer recommendations regarding group leads.
Consistent review of Sales reports, including the GRC, Transaction and Backlog Reports.
Identify group booking trends and need periods and work with the Director of Sales to develop sales strategies for short-term and long-term demand.
Review Sales Lost Business reports with the Director of Sales. Use the reports to determine unconstrained group demand and assist in configuration of RMS pricing application.
Work with peers in other revenue departments to provide recommendations on dynamic pricing for Meeting Space, F&B menus, Golf, Spa, Recreation, etc.
Analyze and prepare a monthly synopsis of marketplace activity, booking pace, lost business, rooms, F&B, Golf, Spa and other department revenues and profit, along with market share statistics from STR and Demand360, with an emphasis on strategic planning and actual results achieved.
Develop a working knowledge of Digital strategies, including paid search, metasearch, e-mail marketing, and social to assist with the holistic demand generation activities for the property. Meet regularly with the field marketing team, or marketing manager to develop new strategies.
Maintain performance measures of marketing efforts to analyze programs’ specific ROIs.
Network with competitive set DORMs to maintain information on the various competitors’ products and services for both primary and stealth competitors and how their products and services vary from the hotels; network with Omni DORMs in major markets to keep abreast of national hotel trends and best practices.
Review of historical data on events and performance in all revenue areas for any promotions during these demand-generating events.
Analyze and critique weekly and monthly STR reports.
Manual reporting as necessary for the purposes of analysis/feedback.
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.
Ensure property participation and data integrity in all forms of e-Distribution Channels, including photos and content.
Work with Operations team to ensure that guest communication and reviews are reviewed and responded to in a timely manner.
Work with the General Manager and Director of Sales & Marketing to ensure that all strategies are communicated to the Reservations, Sales, and Operations teams.
Answer other hotel team members’ questions regarding total hotel revenue management in a friendly and courteous manner.
Provide training to other hotel team members on total hotel revenue management procedures and principles, as needed.
Ensure that all revenue management related systems are maintained: CRS/PMS, RMS, Sales Systems, and Ancillary Revenue Systems. Employ the assistance of the Director of Sales, Director of Front Office, Golf/Spa/Recreation Directors, and Digital Marketing Manager, as needed.
Contribute to the development of the marketing plan.
Communicate with Directors of Front Office regarding anticipated occupancy, Omni Upsell program, Package offerings and other cross-selling opportunities.
Interview, hire and train direct reports with career development plans in place.
Conduct regular one-on-one meetings and performance assessments consistent with Omni standards.