We are seeking an Area Director of Revenue Management for our growing hotel management group based out of New York, NY. The Area Director of Revenue Management maximizes hotel room revenue through daily management of guest room inventory and product pricing for multiple hotels in the select and full-service arena. Our Area Director of Revenue Management will be responsible for implementing revenue management strategies and processes in our hotels, to optimize and maximize its revenue. This involves strategic planning, forecasting, inventory management, and pricing. The Area Director of Revenue Management will also collaborate with sales, marketing, and front-office departments to ensure a holistic approach to revenue optimization. It's a role that requires strong leadership, analytical skills, and a deep understanding of the hospitality industry's market trends.

Responsibilities

• Controls the guest room inventory through the system's end date for assigned hotels. Manages rates and inventories in all distribution channels to ensure parity.
• Designs, implements and evaluates strategic pricing decisions by market segment and channel to maximize room revenues for assigned hotels.
• Strategically sets group booking parameters in Sales Pro (MARs and ceilings) in conjunction with the transient strategies to maximize group room revenue for assigned hotels.
• Assist in the preparation of the annual budget and marketing plan.
• Maintains a complete short-term & long-term awareness of the local market. Track, evaluate, and communicate business and market trends for assigned hotels to the property team, VP of Revenue Management, and corporate stakeholders.
• Evaluate the area competitors regarding pricing, a mix of business, brand directives, and overall selling initiatives. Monitors competitor's pricing and makes pricing adjustments accordingly.
• Evaluates the daily, weekly, and monthly STR reports to understand the trends of assigned hotels and competition as well as understand the opportunities of hotels for YOY growth. Be able to understand and interpret market conditions, trends, and competition.
• Maintain demand-generating calendars for holidays, special events, city-wide, etc.
• Leads the Weekly Revenue Management Meeting to review performance, selling strategies, and market trends for assigned hotels. Completes the Weekly Revenue Management Report to communicate to the hotel the performance results and strategies of assigned hotels.
• Prepares and analyzes supporting documentation for revenue meetings for assigned hotel inventory, pricing, market shops, forecast, budget, STR, group pace, etc.
• Ensures all Revenue Management data files are organized and maintained.
• Ensures actual room revenue statistics for assigned hotels are accurate in Profit Sage, Smith Travel reports, and brand systems.
• Executes all corporate revenue management initiatives for assigned hotels.
• Work with fellow DORMs for opportunities to shift demand to sell out all same city hotels.
• Develops and implements quarterly strategic action plans.
• Act as a liaison to the brand. Utilize in-depth knowledge of brand distribution systems, including new marketing and promotional opportunities as they are made available.
• Develops and maintains partnerships with 3rd party business partners. Work with the VP of Revenue Management to develop and implement effective strategies to maximize third-party, and opaque channel e-commerce demand.
• Visit hotels competitor's minimum of every 6 months to understand hotels' strengths and weaknesses against each competitor both from a product and yield strategy perspective.

Requirements

• 3-5 years minimum experience in a hotel Revenue Management position
• High School Diploma required.
• A college degree in hospitality or business administration or a related field preferred
• Strong understanding of CRO, GDS, PMS, SalesPro, and Internet distribution systems
• A team-oriented individual who can adapt to a fast-changing environment.
• Strong analytical mindset and ability to solve problems creatively using mathematics.
• Multiple market experience preferred.
• Robust Excel background preferred.
• IDeaS revenue management system experience preferred.
• Opera PMS experience preferred.
• Understanding of length of stay pricing philosophy.
• Effective communication skills, both verbal and written
• Ability to work both independently and cross-functionally to achieve goals.

Benefits

• Competitive Base Salary + 25% Bonus Potential
• Benefits are 100% COMPANY PAID!
• Medical, Dental, and Vision Insurance
• Long-Term and Short-Term Disability Insurance
• Life Insurance
• 401K w/ Matching
• Paid Vacation
• Employee Assistance Program
• Hotel Discounts