Revenue Manager

Revenue Manager Job Description List: A Full List of Responsibilities, Required Experience & Qualifications

A typical day in the life of a revenue manager can vary greatly based on factors such as the type of hotel or hotel chain, their position within the organizational hierarchy, and their level of experience. However, amidst this variability, certain core responsibilities and tasks remain integral to the role. Below, we have summarized the most essential responsibilities typically performed by revenue managers.

Revenue Strategy & Analysis Processes

• Implement revenue management operations, procedures and best practices.
• Identify new revenue opportunities.
• Optimize and expand distribution partnerships.
• Challenge and influence hotel to improve service level and operational standards.
• Oversee revenue management and distribution strategy of the hotel and manage day to day yield operations
• Daily pick-up analysis, strategy adjustments and reporting
• Perform competitive benchmark studies and follow market trends
• Create and maintain a rolling demand calendar
• Provide a weekly dynamic forecast of expected results, variances and budget comparisons
• Manage and oversee strategy for all 3rd party distribution
• Responsible for assessing, analysing and pricing group business strategies
• Analyze overall monthly hotel performance and provide a summary report with recommendations to improve long-term strategies
• Ensure all related systems are configured correctly, validated and working to full capacity
• Ensure web site booking process is maintained up-to-date and functional
• Regularly check the input and the quality of data (segmentation, denials tracking, etc…) points
• Conduct quarterly property performance reviews and develop strategic and tactical action
• Responsible for best practice standards to include: competitor analysis; environmental scanning; market modelling; distribution yield management; business mix yield management; length of stay yield management; inventory availability by channel; pricing control and new pricing concepts
• Evaluate the performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…)
• Reduce the cost of distribution by finding new less expensive means of delivering business
• Prepare an outline for and support the annual revenue budget process
• Comply with all federal, state and local regulatory guidelines and laws
• Inspire Hotel’s HODs to further embed a revenue management culture

Reporting

• Consistency in providing daily, weekly and monthly reporting.
• Using precise and effective language to communicate the most important KPIs and actions.
• Consistent use of professional language and style of writing

Communication

• Embed a revenue management culture.
• Build and maintain strong working relationships with levels of staff and stakeholders
• Ensure hotel personnel is fully competent in the use of all systems
• Work in liaison with hotel sales and reservations departments as a team
• Oversee and audit the standards and operations of the reservations department
• Advice and coach the client in other operational areas

Experience & Qualifications

• Experience as a Hotel Revenue Management and/or other departments of the hotel is beneficial (e.g reservations and operations will give you helpful background knowledge).
• A strong command of both written and spoken English is required; additional languages an asset – as many reports and interactions include English terminology, as well as important stakeholder management and reporting will often be concluded in English.
• Bachelors or Masters Degree in Hotel Management, Tourism or Economic Studies
• Highly computer literate with a high-level command of Excel/PowerBI, or other data analysis and billing tools
• Knowledgeable of hotel technology: PMS, Channel Manager, GDS, CRS, Extranets

Personality

• Business Development DNA and commercial minded
• Strong sense of need for achievement of goals and success
• Sound ability and knowledge to develop standards of operations and strategic processes
• Good analytical and numeric skills for fast data crunching
• Ability to work under own initiative in a highly pressured environment
• Good listening skills and the ability to anticipate business needs
• Able to develop relationships with 3rd parties and the hotel teams
• Capacity to read situation, understand environments and respond accordingly
• Capable of prioritizing between revenue generating actions and time consuming tasks with low yield impact
• Ability to work across all levels and functions of Xotels client portfolio under own initiative in a highly pressured environment
• Well developed interpersonal, adaptive influencing and supervisory management skills
• Willingness to travel and ability to interact professionally with other cultures<
• Mentality of client service and taking responsibility beyond direct duties
• High level of motivation, determination and commitment

Job Types: Full-time, Permanent

Pay: ₹20,000.00 - ₹60,000.00 per month

Schedule:

• Day shift

Supplemental Pay:

• Performance bonus

Work Location: In person