Revenue Manager

Analyzing and Reporting Revenue Management Data

• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Analyzes information, identifying current and potential problems and proposing solutions.
• Generates and provides accurate and timely results in the form of reports, presentations, etc.
• Observes, receives, and otherwise obtains information from all relevant sources.
• Submits reports in a timely manner, ensuring delivery deadlines.
• Conducts sales strategy analysis and refines as appropriate to increase market share for all properties.
• Assists hotels with pricing and provides input on business evaluation recommendations.
• Maintains accurate reservation system information.
• Checks distribution channels for hotel positioning, information accuracy and competitor positioning.
• Analyzes period end and other available systems data to identify trends, future need periods and obstacles to achieving goals.
• Generates updates on transient segment each period.
• Assists with account diagnostics process and validates conclusions.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Initiates, implements and evaluates revenue tests.

Managing and Executing Revenue Management Projects

• Takes a predetermined strategy and drives the execution of that strategy.
• Demonstrates knowledge of job-relevant issues, products, systems, and processes.
• Works with other people to gather the information necessary to manage projects, achieve goals, and resolve problems.
• Provides revenue management functional expertise to cluster general managers, leadership teams and market sales leaders.
• Ensures hotel strategies conform to brand philosophies and initiatives.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Prepares sales strategy meeting agenda, supporting documentation.
• Communicates proactively with properties regarding rate restrictions and strategy.
• Manages rooms inventory to maximize cluster rooms revenue.
• Leads efforts to coordinate strategies between group sales offices.
• Supports cluster selling initiatives by working with all reservation centers.
• Uses reservations system and demand forecasting systems to determine, implement and control selling strategies.
• Provides recommendations to improve effectiveness of revenue management processes.
• Communicates brand initiatives, demand and market analysis to hotels/clusters/franchise partners/owners.
• Understands and communicates the value of the brand name as it relates to franchise partnerships and revenue management opportunities.
• Promotes and protects brand equity.

Building Successful Relationships

• Develops constructive and cooperative working relationships with others, and maintaining them over time.
• Develops and manages internal key stakeholder relationships in a proactive manner.
• Acts as a liaison, when necessary, between property and regional/corporate systems support.

Additional Responsibilities

• Informs and/or updates the executives, the peers and the subordinates on relevant information in a timely manner.
• Enters, transcribes, records, stores, or maintains information in written or electronic form.
• Attends staff/forecast/long range meetings as requested by properties.

MANAGEMENT COMPETENCIES

Leadership

• Adaptability

  - Maintains performance level under pressure or when experiencing changes or challenges in the workplace.

• Communication

  - Conveys information and ideas to others in a convincing and engaging manner through a variety of methods.

• Problem Solving and Decision Making

  - Identifies and understands issues, problems, and opportunities; obtains and compares information from different sources to draw conclusions, develop and evaluate alternatives and solutions, solve problems, and choose a course of action.

• Professional Demeanor

  - Exhibits behavioral styles that convey confidence and command respect from others; makes a good first impression and represents the company in alignment with its values.

Managing Execution

• Building and Contributing to Teams

  - Actively participates as a member of a team to move the team toward the completion of goals.

• Driving for Results

  - Sets high standards of performance for self and/or others; assumes responsibility for work objectives; initiates, focuses, and monitors the efforts of self and/or others toward the accomplishment goals; proactively takes action and goes beyond what is required.

• Planning and Organizing

  - Gathers information and resources required to set a plan of action for self and/or others; prioritizes and arranges work requirements to accomplish goals and ensure work is completed.

Building Relationships

• Coworker Relationships

  - Interacts with others in a way that builds openness, trust, and confidence in the pursuit of organizational goals and lasting relationships.

• Customer Relationships

  - Develops and sustains relationships based on an understanding of customer needs and actions consistent with the company’s service standards.

• Global Mindset

  - Supports employees and business partners with diverse styles, abilities, motivations, and/or cultural perspectives; utilizes differences to drive innovation, engagement and enhance business results; and ensures employees are given the opportunity to contribute to their full potential.

Generating Talent and Organizational Capability

• Organizational Capability

  - Evaluates and adapts the structure of own assignments and suggests improvements to work processes to best fit the needs and/or support the goals of an organizational unit.

• Talent Management

  - Provides support and feedback to help individuals develop and strengthen skills and abilities needed to accomplish work objectives.

Learning and Applying Professional Expertise

• Applied Learning

  - Seeks and makes the most of learning opportunities to improve performance of self and/or others.

• Business Acumen

  - Understands and utilizes business information to manage everyday operations.

• Technical Acumen

  - Understands and utilizes professional skills and knowledge in a specific functional area to conduct.

• Revenue Management

  - Knowledge of revenue management concepts, processes and strategies such as average daily rate, revenue per available room, sales cycles and trends, account management, pricing and inventory management. Skill in using a Yield Management system and interpreting pricing and inventory reports.

• Analysis

  - The ability to analyze and summarize detailed data to make inferences and recommendations. Included is the creation and maintenance of spreadsheets for storing data.

• Research

  - Skill in collecting information from a variety of sources relating to market data, historical cycles, travel and tourism trends, and real estate market dynamics. The ability to know when to seek addition information and where to look to find it.

• Inventory Management

  - The ability to manage rooms and function space restrictions and thresholds using systems or manually in order to maximize revenue/profit across all segments.

• Computer Skills

  - The willingness to learn and ability to use computer systems and software packages to input, access, modify, store, or output information or to execute programs and analyses. This includes the ability to enter and retrieve data from computer systems using a keyboard, mouse, or trackball.

• Economics and Finance

  - Knowledge of economic principles and practices, P&L statements, operating budgets, forecasting and scheduling, and the reporting of financial data.

• Sales and Marketing

  - Knowledge of sales and marketing concepts including principles and methods for showing, promoting and selling products or services as well as marketing strategies and tactics.

• Basic Competencies

  - Fundamental competencies required for accomplishing basic work activities.

• Basic Computer Skills

  - Uses basic computer hardware and software (e.g., personal computers, word processing software, Internet browsers, etc.).

• Mathematical Reasoning

  - Demonstrates ability to add, subtract, multiply, or divide quickly, correctly, and in a way that allows one to solve work-related issues.

• Oral Comprehension

  - Demonstrates ability to listen to and understand information and ideas presented through spoken words and sentences.

• Reading Comprehension

  - Demonstrates understanding of written sentences and paragraphs in work-related documents.

• Writing

  - Communicates effectively in writing as appropriate for the needs of the audience.