Complex Director of Revenue Management

About the role

Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America. The Director of Revenue Management is responsible for identifying and maximizing all potential revenue opportunities for the Park Central New York Hotel, located in Midtown Manhattan. This role involves formulating and executing long and short-term revenue management strategies to advance RevPAR market share, analyzing revenue potential from transient and group market segments, and integrating catering, space utilization, and other revenue considerations.

Responsibilities

• Establish hotel pricing levels in all segments and all room types.
• Responsible for the daily room inventory management process and daily pricing process.
• Monitor competitor rates, positioning, strategies, and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management.
• Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
• Analyze local events and activities and project the effect of opportunities they create.
• Understand the macro and micro-economic variables affecting supply and demand in the local marketplace and use this knowledge to create accurate operational and financial room revenue forecasts.
• Perform unconstrained demand analysis to determine optimal business mix.
• Responsible for all short and long-term forecasts including Weekly Forecasts, 30/60/90 Forecasts, In-the-month forecasts, and Full-year forecasts.
• Oversee the process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department. Ensure that the process enables high-speed response while maximizing profits.
• Responsible for the maintenance of any software programs which contribute to the management of rooms revenue, including the CRS, RMS, PMS, and Sales & Catering system.
• Monitor RevPAR index on STR report and provide critical analysis of performance on a weekly and monthly basis.
• Prepare the annual Rooms revenue budget.
• Chair weekly Revenue Strategy meetings to formulate and disseminate strategies and tactics. Ensure that prior decisions are revisited to evaluate their effectiveness and promote learning.
• Prepare and present monthly and/or quarterly presentations to ownership.
• Ensure all distribution channels have correct content and pricing.
• Develop and maintain a close relationship with the market manager of all OTAs to maximize opportunities with these channels.
• Develop and maintain relationships with other market Directors of Revenue to create a network of peers in your community.
• Actively develop all subordinates, ensuring they have opportunities to grow their Revenue Management and leadership skill base through personal attention, internal/external training, and participation in industry events.
• Responsible for Digital Marketing such as pay-per-click campaigns, email blasts, GDS advertising, etc.
• Establish and communicate sales strategy for day, week, month, and rolling 12 months.
• Communicate any strategy changes or update calendars for the sales team to use.
• Analyze prior night successes: Did the hotel sell out? Were the right decisions made for overselling? Address opportunities in the Highgate Hotel Business Review (HHBR) morning meeting.
• Place test calls to Central Reservation Office (CRO) and property to ensure accuracy of rate quoting, restrictions, and selling approach.
• Manage and communicate group cut-off dates and verify pick-up to actual block and cut-off dates.
• Ensure accuracy from the daily Flash Report. Review actual performance versus potential performance.
• Complete all required month-end reports with detailed analysis. If necessary, complete action plans for the property to follow to create additional production/revenue.
• Review Agency 360 reports for trends, booking windows, sources of business, and rates compared to competition.
• Review volume account production with Transient Sales Manager and Director of Sales.
• Maintain a warm and friendly demeanor at all times.
• Effectively communicate both verbally and in writing with all levels of employees and guests in an attentive, friendly, courteous, and service-oriented manner.
• Listen to, understand, and clarify concerns raised by employees and guests.
• Multitask and prioritize departmental functions to meet deadlines.
• Approach all encounters with guests and employees in an attentive, friendly, courteous, and service-oriented manner.
• Attend all hotel-required meetings and trainings.
• Maintain regular attendance in compliance with Highgate Hotel Standards, as required by scheduling.
• Maintain high standards of personal appearance and grooming, including wearing nametags.
• Comply with Highgate Hotel Standards and regulations to encourage safe and efficient hotel operations.
• Maximize efforts toward productivity, identify problem areas, and assist in implementing solutions.
• Handle problems effectively, including anticipating, preventing, identifying, and solving problems as necessary.
• Understand and evaluate complex information, data, etc., from various sources to meet appropriate objectives.
• Maintain confidentiality of information.
• Perform other duties as requested by management.

Requirements

• Minimum of 4 years of experience in the Revenue Management field.
• Bachelor’s Degree.
• In-depth knowledge of all industry reports such as STR, Agency 360, Demand 360, OTA Insights, etc.
• Proficient in Microsoft Excel, Word, and PowerPoint.
• Ability to work quickly in a high-pressure and high-stress environment.
• Ability to communicate clearly both verbally and in writing.
• Excellent time management skills.
• Exceptional attention to detail and follow-up.
• Flexible and able to work long hours when required.