Revenue Manager

  • Paradigm Hotels Group
  • South San Francisco, CA, USA
  • Aug 30, 2019
Full time General Managers and Management Executives

Job Description

We are looking for an Experienced Revenue Manager to be a part of the team.

JOB OVERVIEW The Revenue manager works with the Dir of Revenue to maximize room revenue, through the management of room inventory, market mix and pricing strategy. Conducts weekly sales calls to SMERFE and corporate guests to drive revenue during need times to ensure the greatest Rev Par and growth YOY
DUTIES AND RESPONSIBILITIES Conduct the daily, weekly and monthly revenue management meetings and give synopsis of past strategies versus results and leads the discussion on current/future issues. Generates reports as needed for the meeting and generates action plan from the meeting and shares within the group. Analyze marketplace reports such as STAR, Hotelligence and other marketplace measurement tools and presents the revenue opportunities in the analysis. Monitors the pricing of competitors understands the dynamics of the local market and demand generators and presents appropriate actions to the revenue committee and Dir of Revenue. Develop analytical tools to determine effectiveness of selling, pricing and distribution strategies Prepare monthly synopsis report on marketplace activity, booking pace, denials, telephone statistics, staffing, sales policy, reservation and group market activity with an emphasis on strategic planning and actual results achieved Transform theoretical knowledge gained from analysis into the business cycle, booking cycle and long term strategic planning Develop, monitor and maintain all short term and long term forecasts as outlines by corporate revenue management standards Achieve 95' forecasting accuracy with respect to market segmentation goals Lead development of key budgetary goals and objectives Develop budget to actual feedback and comparisons and report monthly achievements Responsible for the maintenance of the software programs that supports the management of room revenue Maintain the inventory management translations tables for the two-way interface Lead training and information sessions with all parties, at all levels, involved in the revenue management process Effectively incorporate the revenue management philosophy in all aspects of sales, marketing, and operations Manage inventory and rate structure to optimize revenues and margins Maintain performance measures of marketing efforts to analyze property program specific Return on Investments Develop strategies for market segments to support Delphi programs Maintain global reporting structure where information is shared, analyzed, and fed back into the operations Pricing strategies to be developed including an emphasis on Corporate Reservations training guidelines Forecasting would be demand based to coincide with pricing strategy Develop; maintain long term and short term group booking parameters for the effective utilization of Profit Pack. Collaborates on Group rates and ceilings and selective guidelines. Explore market mix variations that would stimulate revenue Oversee and evaluate the effectiveness of any internal incentive programs with clear payback analysis Establish and maintain a reservations test call program to ensure Star Service Standards and rate quotation goals are achieved Establish and maintain rate quotation strategies within the reservations department Oversee the reservations department Future bookings trends to be developed using the existing technology and manual input Develop analytical tools and stimulate discussions and analysis Consistently evaluate inventory selling process Initiate promotions to generate business at key times Monitors group blocks to determine rooms available for sale to transient customers. The Revenue manager shall also understand the groups pick up history and shall manage the group cut off dates Is responsible for daily walk in rates and communication to staff of change in daily pricing strategies Provide training to Front Desk employees on reservations selling, upselling and negotiating techniques. Updates hotel HOD and internet screens to ensure information is always up to date Works with the property team to determine LNR, Consortia and RFP rates. Ensures the hotel is ready for RFP season. Preparation of all revenue related information for owner's meetings. Initiate promotions/ incentives to promote restaurant business. May have to respond to social media for the company. Must be entrepreneurial and able to find new ways to drive business, gain demand and bring additional business during need times. Follows company policies and procedures and is able to efficiently communicate with them to subordinates. Other duties ad assigned by Supervisor or management.
QUALIFICATIONS AND REQUIREMENTS Revenue Management experience of 3 years Ability to communicate with public, hotel staff and management in a professional manner Computer literate Knowledge of sales Knowledge of surrounding areas and local events Knowledge of Yield Management Phone etiquette Ability to work flexible shift hours, including weekends