POSITION PURPOSE
Maximize overall hotel revenue and profit through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data. Responsible for determining the optimal mix of business and managing distribution strategies on all channels to increase revenue and drive market share. Communicate revenue management strategic vision to the Management team at hotel.
ESSENTIAL FUNCTIONS
Drive Market Share and Revenue Performance through proper pricing, inventory controls and mix management.
Develop an overall pricing strategy to include all market segments and distribution channels.
Ensure effective pricing strategies relative to the competition and specific market conditions.
Effectively manage inventory and pricing strategy on all distribution channels including Web Page, 3rd Party Sites (OTAs) and Global Distribution Systems (GDS).
Focus on lowering distribution costs and driving room nights to branded web.
Coordinate with Field Marketing/Online team for optimizing opportunities for incremental revenue and market share growth.
Oversee management of Reservations to ensure proper selling strategies are in. Mentor, coach and train reservations staff for their future development.
Closely monitor competitive pricing and understand impact of relative pricing decisions on property performance.
Review and analyze STR data on a weekly basis and monthly basis (where available) with Hotel Teams. Identify and implement strategies for future demand scenarios.
Compile Weekly Analysis Reports to analyze key drivers of market share performance and understand overall effectiveness of strategies.
Pro-actively identify and analyse business opportunities from a net profit standpoint and make the appropriate business decisions e.g. comparing wedding business with a business meeting with rooms
Pro-actively identify and analyze peak days and shoulder days talking into consideration past performance as well as new industry trends. Possible
strategies include LOS restriction, price decisions (BAR and NLRA), room type yielding, oversell etc.
Ensure continuous adherence to Rate Structures by Market Segment and seasonality.
Ensure Best Rate Guarantee Compliance and maintain Rate Parity Agreements with Third Party Partners.
Clearly communicate strategic vision and objectives to hotel team on how to drive revenues and improve performance.
Effectively communicate the current selling strategies and necessary updates to impacted departments to include but not limited to Front Office, Sales & Catering Departments.
Provide hotel team with regular updates on hotel performance at minimum to include market share, market segmentation, channel metrics, etc. and provide comparisons with Budget vs. Actual and explain variances whilst suggesting effective Action Plans to make up for shortfalls.
Lead the property’s weekly Revenue Management/Forecast Meeting.
Contribute and provide Revenue Management Strategic Vision and suggest new revenue generating strategies during Reviews and/or Pricing Meetings.
Produce accurate forecast on weekly and monthly basis (frequency determined by hotel General Manager as well as Corporate Director Finance).
Lead the budget process for the top line room revenue numbers and work together with Sales and Marketing on the pricing and contracting strategy for the next year
+974 50509115
hrc@plazainn.com.qa