Duties and Responsibilities
· Using the tools provided (ie SBRP) and in compliance with the IHG standards, maintains, updates and shares information in the areas of a master calendar of external events, competitor rate intelligence, RevPar penetration (RGI), arrival and spending patterns of commercial accounts, denial reports, meeting space allocation, guest capture rates (with the F&B Mgr), Loyalty program penetration both overall and by account (and for bookers), system contribution and trends in rooms and non-rooms revenues by channel, segment and account.
· Understand the composition of hotel profitability, and uses this to evaluate business from local accounts and groups so as to provide input to future rate setting and negotiation.
· Monitor competitor pricing for all revenue generating departments, understands the dynamic of the local market and the demand generators, and recommends appropriate actions to the Revenue Room Taskforce in relation to the hotel’s pricing and market mix strategy.
· Conduct weekly rate/sell strategy (yield) meetings with General Manager, DOSM, Reservations Manager, Front Office Manager, Catering Manager.
· Facilitate the Revenue Room Meeting (which the GM chairs) and generates reports and analyses needed for these meetings, displaying key facts/trends etc., on the revenue room walls.
· Monitor and determine demand periods for function space, rooms and catering through an analysis of historical data and current bookings. Responsible for tracking and analyzing of booking pace, group wash, cut off enforcement for groups as well as denied and regretted business.
· Approve and/or implement sell strategies for all group proposals above 9 rooms on any one night, and collaborates with the Director of Sales or Director of Catering on setting group and conference rates.
· Manage use of revenue systems* on a daily basis. This includes the responsibility for any manipulation of the yield hurdle points and daily inventory balancing where appropriate. Where a yield management system is not installed this includes responsibility for opening or closing Holidex Plus.
· Train and support hotel teams on revenue system* functionality and enhancements.
· Manage all channels (CRO, GDS, Internet direct and indirect) including but not limited to room types and sell strategy. Responsible for ensuring compliance with the Lowest Internet Rate Guarantee and managing third party distributors in compliance with IHG standards and rules.
· Guardian of SBRP. Ensure compliance with all SBRP rules and standard processes. Provide input to the annual budget process on all revenue aspects of the business. Provides medium-term revenue-based forecasts of required staffing levels to all departments.
· Conduct annual revenue management audits with the Regional Revenue Manager for all revenue generating departments.
· Provides technical support to Reservations and Front Office on up-selling and negotiating techniques.
· Champion all special projects relating to market research and operational optimization (resource planning, costing, Key Performance Indicators and etc.). *Revenue systems include the central Reservations systems Holidex Plus, the yield mgmt system (HIRO /IDEAS) and portions of the Property management system)
· Works with Human Resources on manpower planning and management needs
· Works with Director of Finance in the preparation and management of the Department’s budget
Annual Operating Profit/Payroll Budget –
· Department Budget and Headcounts
Key Metrics –
· Departments Budget
· Hotel Revenue
· Employee Satisfaction Survey
Qualifications and Requirements
Required Skills –
· Communication skills are utilized a significant amount of time when interacting with others; demonstrated ability to interact with customers, employees and third parties that reflects highly on the hotel, the brand and the Company.
· Demonstrated knowledge of effective hotel pricing concepts, yield management optimization and selling strategies, and ability to determine which concepts to apply in given market conditions.
· Proficient in the use of Microsoft Office
· Problem solving, analytical, reasoning, motivating, organizational and training abilities.
· Good writing skills
· Bachelor’s degree in Hotel Administration or Business Administration. MBA is preferred.
· 4 years of relevant experience or similar supervisory role, or an equivalent combination of education and work-related experience. Previous Revenue Management or Pricing experience is preferred.