Reporting to the Vice President of Revenue Management, the Revenue Manager is responsible for maximizing and realizing the full/highest potential of RevPAR for the hotel.
Ongoing (constant and daily) tracking and analyzing of competitive set and respective yield strategy patterns to predict probable competitive set reaction to changes in the market place. Ongoing analysis of changing distribution channel models and the impact on consumer booking trends to aid in more accurate forecasting. Develops and manages hotel pricing strategies by defining and management of rate level and rate level conditions relative to demand factors. Develops “well researched” rate offers for specific distribution channels as required. Monitors all market segment booking pace patterns (all transient package, meeting group, tour and F.I.T.) and reacts accordingly by controlling reservation distribution sources to maximize revenue – discusses changes and ensure quick and efficient implementation of changes. Monitors applicable Franchise channels and maximize opportunities from the brand. Maintains current knowledge of all brand revenue – related programs. Develops fundamentals and provide guidelines mechanisms for catering events/ function space and all other revenue streams at the hotel. Completes rolling hotel forecasting at least weekly using historical analytics. Establishes group rates & parameters with DOS and provides opportunity cost reports on all groups – develops a scientific approach to attrition management. Conducts regular audits of distribution channels. Educates all relevant departments on the art and science of revenue management (Sales Managers, Reservations, Front Office Management, etc.) to ensure everyone is working on intelligent revenue strategies to maximize RevPar. Controls use of OTA channels of distribution and assists in overall Marketing efforts by establishing lead-in rates and qualifications. Works closely with Falls Avenue central reservation and franchise reservation offices to ensure compliance to program conditions