500 Employees or more · Other Business Support Services
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Job Description
Job Description
Drive Market Share and Revenue Performance Talent & Culture tough proper pricing and mix management.
Analyze competitive reports and formulate appropriate strategies Talent & Culture tough use of Deloitte & Touche Reports, Hotelligence and Market Vision
Develop overall pricing strategy to include all market segments and distribution channels
Provide guidance on corporate transient negotiated pricing, group pricing for each group, and wholesale pricing
Ensure effective pricing strategies are in place to reflect asset strength relative to the competition in each market
Ensure adherence to the Sofitel Pricing Policies of Rational Pricing and compliance to the Best Rate Guarantee (BRG)
Effectively manage and be in control of all inventory (transient, group, wholesale allotments and other) and pricing strategy in all distribution channels including branded web, 3rd party sites, TARS, and the GDS
Lead the Director of Sales & Marketing and General Manager in the decision making process of promotion participation, offline contracts and pricing thereof
Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance
Review and analyze data on an ongoing basis
Includes but not limited to Rooms Rollup, Pace, Group Backlog, Geographic Data, Enterprise Channel Reports, PMS Reports.
Responsible for effective implementation and compliance with SOFITEL Revenue Management Standards
Maintain the accuracy and timely entry of all relevant data in the Revenue Systems
Complete understanding and effective execution of current and new RM tools. Includes PMS, IPS, Sales & Catering System, Market Vision, Enterprise Channel Reports and any new/similar tools or reports developed in future years
Take a key role in property PMS Conversions
Take the lead role in property RMS Installations
Compliance to Sofitel Standards for Rate Plans, Rate Categories, Market Segments, Profiles and all other PMS/IPS related RM functionalities
Ensure accurate and timely entry of rate plans
Ensure Best Rate Guarantee compliance
Clearly communicate to hotel team the strategic vision and objectives on how to drive revenues and improve performance
Ensure hotel team members understand the concept of Revenue Management and their role
Provide the hotel team with regular updates on hotel performance to include market share, market segment roll ups, and channel metrics
Educate the sales team on the effective use of Opera S&C/Delphi to improve profitability of group bookings
Share best practices and key learning’s with peers, Regional Director of Revenue Management and Divisional RM team
Identify and communicate to either Regional or Divisional RM team in addition to appropriate technical support bugs/enhancements affecting revenue management from all RM tools, including PMS, IPS, Channel Reports, and branded websites
Lead the property’s weekly Revenue Management Meeting and contribute to the Daily Operations Meeting
Provide Executive Committee with regular revenue management updates
Contribute and provide Revenue Management strategic vision during all Regional and Divisional Property Reviews and/or Pricing Meetings
Take a strong leadership role in the bi weekly/Monthly Forecasting Meetings
Produce accurate forecast on weekly and monthly basis (as determined by the hotel controller)
Produce all relevant components of the Budget pertaining to Revenue Management
Validate comp set RevPAR forecast by month to ensure effective soft spot calendar planning
Identify and develop soft participations/promotions and strategies
Lead the DOSM and the Online executive in participation in online strategies
Recruit, train and mentor (as applicable) the Reservations Manager and/or a strong second with a view to contingency
Assist in developing a career path for direct reports
