Drive Market share and Revenue Performance through proper pricing and business mix
management; develop overall pricing strategy to include all market segments and
distribution channels; provide guidance on corporate transient negotiated pricing as well
as group pricing; ensure Group Selective Sell Guidelines (Group rates and Sales
allowance) are updated on a regular basis ensuring effective pricing strategies are in
place that reflect product positioning and strength relative to the competition in each
market.
Produce accurate forecast on weekly and monthly basis; by day by segment; distribute
forecasts promptly; the monthly forecast include 30/60/90 day forecast with an update of
YTD performance, and the rolling 12 month update; ensure high degree of revenue
forecast accuracy as detailed on the Revenue Management standards.
Effectively manage inventory and pricing strategy in all distribution channels including
Brand website, focus on lowering distribution costs and driving room nights to branded
web.
Work with ADRM, to conduct regular price elasticity tests in various market conditions,
measure results, and share key learning's; validate comp set RevPAR forecast by month
to ensure effective soft spot calendar planning; develop and update Strategic Sales Plan
with the Area/Director of Sales.
Review and analyze STR data on a weekly and monthly basis with Hotel; closely monitor
competitive pricing and understand impact of relative pricing decisions on property
performance.
Chair weekly Revenue Management meetings; clearly communicate to team strategic
vision and objectives on how to drive revenues and improve performance; provide team
with regular updates on Hotel performance to include market share, market segment,
channel metrics (channel contribution).
Responsible for effective implementation and compliance with Company Revenue
Management Standards; complete understanding and effective execution of current and
new RM tools, includes PMS, CRS, Third party extranets, Channel Manager, Rate
Shopper, Smith Travel reports, Hotelligence Reports, Channel Reports, Pace reports.
Contribute and provide Revenue Management Strategic Vision during all Area and
Corporate Property Reviews and/or Pricing Meetings.
Recruit, train, and mentor if applicable Reservations team, and other employees.
Plan and build entire process of Revenue Management systems in new opening hotel.
Prepare outline for and support the annual revenue budget process.
Provide strategic direction in support of critical revenue cycle initiatives and
goals.
Conduct Weekly Revenue meetings & Monthly Owner meetings for both hotels.