Revenue Manager - Elysee New York Hotel

Crescent Careers • New York, NY

1d • Onsite

About The Position

The Revenue Manager is responsible for maximizing resort revenues through strategic pricing, yield management, and forecasting. This role involves analyzing market factors, establishing pricing and selling strategies for various market segments, and ensuring rate parity across all distribution channels. The Revenue Manager will generate reports, present findings to the Yield Committee, and collaborate with sales and management teams to optimize revenue and achieve budgeted goals.

Requirements

• One-year certificate from college or technical school; or three to six months related experience and/or training; or equivalent combination of education and experience.
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
• Ability to write reports, business correspondence, and procedure manuals.
• Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
• Ability to work with mathematical concepts such as probability and statistical interference.
• Ability to calculate figures, and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Must be able to understand departmental budget and work within those guidelines.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
• Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Nice To Haves

• Continuous training with the property management system and amenities reservations systems.

Responsibilities

• Properly convey rate and package information within approved limits to maximize and protect overall resort revenues yields.
• Work with the Yield Committee to establish and implement pricing, yield, and selling strategies for the resort, based on market factors and company guidelines.
• Active participation in all pricing decisions for transient, group, and wholesale segments.
• Build all rate plans and season in spreadsheet for approval.
• Build all rate plans and seasons in the Property Management System.
• Formulate transient and group inventory restrictions and pricing strategies for all distribution channels designed to maximize revenue from a rate and occupancy perspective.
• Ensure pricing across all channels and market segments have rate parity.
• Generate and distribute, daily, weekly, monthly, quarterly revenue management reports and present results from all segments including internet channels.
• Analyze end of month reports and put together revenue management recap for the revenue management committee.
• Prepare quarterly presentation or reports for the Yield Committee showing progress toward the budgeted goals.
• Optimize RevPar by analyzing/forecasting demand and establishing effective selling strategies, oversell strategies, and optimal market mix.
• Establish goals to consistently achieve or exceed forecasts for room revenue, occupancy, ADR, and RevPar.
• Assist in preparing the weekly Revenue Strategy Meetings (yield). Prepare agenda, critiques, tracking, competitive analysis and future strategy recommendations for presentation.
• Ensure No Show and Late Cancellations are charged and processed.
• Attend Group Sales and Coordination meetings to discuss group pick-up and leads.
• Assist in managing the hotel distribution channels.
• Assist in managing hotel property management system yield program.
• Assist Group Sales Managers with review of prospect business falling outside pattern requirements, meeting space to room requirement rations, and ADR requirements for overall group profitability verses transient profitability to determine if piece of business should be considered.
• Identify soft spots and communicate to Revenue Management Committee to develop slow period initiatives during off peak time periods.
• Adjust rates and hotel inventory based upon room demand, current reservations, historical data, forecasting, and competitive rate analysis.
• Conduct ongoing competitor price/product analysis to ensure proper rate position/product offering relative to competition.
• Access available competitive data and identify opportunities to systematically use data to increase revenue.
• Identify and address business process and execution short-falls.
• Develop process to identify pricing errors, make pricing changes, and predict the impact of pricing/discounting decisions.
• Generate exception reports to quickly identify pricing and discounting errors and opportunities.
• Analyze and recommend the most responsive market segments to target discounts and promotions towards.
• Assist the Director of Revenue Management in preparing the Monthly Forecast, as well as the yearly Budget and Marketing Plan.
• Represent Horseshoe Bay Resort in a professional manner to clients and potential clients and potential clients at every opportunity.
• Maintain proper lines of communication with all departments to ensure that all details are communicated.
• Develop working knowledge of all departments, the Resort, and its amenities.
• Develop working knowledge of the competition.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree