Job Details
Job Title: Director of Revenue Management
Department: Revenue Management Department
Reports To: Vice President of Revenue Management
Job Summary: The primary responsibility of this position is analysis of revenue maximization efforts for all revenue streams of The Luxury Collection Manhattan Midtown Hotel. Maintenance of Revenue Management standards; specific review and measurement of hotel revenue performance against established goals. Monitor group and transient business thresholds to ensure measurable improvements for demand and availability. Work with each department to develop property specific strategies to ensure positive growth. Conducts analysis of citywide and special events, implements Revenue Management strategies to maximize demand generators. Closely monitors competitors for shift in demand, rate, and strategy.
Duties and Responsibilities: Including, but not limited to the following duties:
- Drive revenue and market share for the property by:
- Leading weekly revenue management calls to assist with strategy and forecast
- Reviewing data, reports, market conditions and trends and evaluating / suggesting revenue management strategies, ensuring follow through as necessary
- Analyzing / forecasting demand and ensuring effective selling strategies, oversell strategies and optimized market mix and use of distribution channels for overall hotel profitability
- Monitoring all distribution channels to ensure effective rate and inventory management and pricing strategies are in place
- Ensuring revenue forecasts are accurate within 3% of actuals
- Conducting displacement analysis on group, transient, contract segment, and event business to guide sales and operations teams in effective decision making.
- Review and implementation of processes, policies, and procedures at the hotel level
- Building and maintaining strong distribution relationships with Market Managers to ensure best representation on third-party websites.
- Analyzes weekly and monthly STAR information to assist in analyzing past strategies; identifies areas needing improvement, identifies competitor set strengths, and develops strategies to best capture available Market Share.
- Maximize profitability throughout the organization by:
- Evaluating business with event revenue and ancillary revenue included
- Identifying demand generators and production from these accounts or attractions
- Keeping a pulse on national and local economic trends to determine impact on hotel revenues
- Understanding business transient and other corporate opportunities market-wide and ensuring the hotel is appropriately aware of opportunities and positioned to achieve
- Understanding and projecting market trends and position relative to competitors, ensuring the hotel is properly positioned
- Participate in forecasting, budgeting (top line)
- Generates yearly room revenue budget.
- Assists in creating and verbalizing positioning and long-term strategies for all segments (group, transient, catering) that are in alignment with brand standards and property objectives.
- Understand and identify brand pricing, promotional, marketing and eCommerce initiatives and recommendations that should be implemented not only for compliance but to maximize revenues.
- Coordinate with hotel management teams to drive results through effective training, coaching, leading, motivating, empowering, and following through with all revenue management strategies with the hotel team members.
- Perform numerical analysis of data and formulate conclusions and solutions, relaying to stakeholders in a logical, well-organized manner.
- Work collaboratively with others to achieve desired results.
- Effectively present information in one-on-one and group situations to peers, hotel teams, and analysts
- Participate in ownership meetings as needed.
- Liaison between MCR and ownership representatives.
- Other duties as assigned.
Qualifications:Education: College preferred and/or equivalent of work experience in hospitality industry.
Experience: A minimum of four years of experience in hotels (can be in other disciplines). Must have a minimum of 3 years of experience in Revenue Management discipline.
Knowledge: Excellent knowledge of Marriott systems, including: OneYield, HPP, MARSHA, Opera PMS, and CI/TY.
Skills: Expert computer skills (must have working knowledge of word/excel)
Abilities: Able to work constructively in a fast-paced work environment
Able to maintain a calm, professional and supportive demeanor during pressure situations
Able to be a proactive, problem solving, team player.
Able to create a positive working environment among the staff
Able to be a mentor towards other staff members
Able to work varying hours and days as business needs dictate. Able to multitask Able to meet deadlines.
Our Company - MCR is the 3rd-largest hotel owner-operator in the United States.
- Founded in 2006, our company has offices in New York City, Dallas, Chicago, and Richmond, Virginia.
- MCR has a $5.0 billion portfolio of 148 premium-branded hotels containing more than 22,000 guestrooms across 37 states and 106 cities.
- MCR has more than 7,000 team members across the country and operates hotels under 9 Marriott brands, 8 Hilton brands and a number of unflagged independent hotels.
- MCR was named one of Fast Company's 10 Most Innovative Travel Companies of 2020.
- MCR is a three-time recipient of the Marriott Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners, and a recipient of the Hilton Legacy Award for Top Performer.
- For the TWA Hotel at New York's JFK Airport, MCR won the Development of the Year (Full Service) Award at The Americas Lodging Investment Summit (ALIS), the Urban Land Institute New York Excellence in Hotel Development Award and the American Institute of Architects national Architecture Award, the highest honor given by the AIA
What we offer/What's in it for you? - Hotel Discounts
- Weekly Pay
- Paid Time Off
- Retirement Options
- Referral bonuses
- Career advancement & upward mobility
- Health, Dental, Vision Insurance- available after 30 days of employment for full-time team members
Other details- Job Family Hotels
- Pay Type Salary
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