Director of Revenue Management

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 Park Central New York Hotel is located in Midtown Manhattan, offering a blend of classic hospitality and modern amenities.

About the role

The Director of Revenue Management is responsible for identifying and maximizing all potential revenue opportunities for the hotel. This role involves formulating and executing long- and short-term revenue management strategies to advance RevPAR market share, analyzing revenue potential across 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 local market dynamics and demand generators, presenting action plans to management.
• Monitor and communicate fluctuations in occupancy to operational departments to manage staffing requirements and increase efficiency.
• Analyze local events and activities and project their effect on opportunities.
• Understand macro and micro-economic variables affecting supply and demand in the local marketplace 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, 30/60/90-day, In-the-month, and Full-year forecasts.
• Oversee the evaluation process for all contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department.
• Maintain software programs contributing to rooms revenue management, including CRS, RMS, PMS, and Sales & Catering systems.
• Monitor RevPAR index on STR reports 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.
• Prepare and present monthly and/or quarterly presentations to ownership.
• Ensure all distribution channels have correct content and pricing.
• Develop and maintain relationships with OTA market managers to maximize opportunities.
• Develop and maintain relationships with other market Directors of Revenue to create a peer network.
• Actively develop subordinates, providing growth opportunities through training and industry events.
• Oversee Digital Marketing initiatives such as pay-per-click campaigns, email blasts, and GDS advertising.
• Establish and communicate sales strategy for day, week, month, and rolling 12 months.
• Analyze prior night’s successes, addressing 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 and restrictions.
• Manage and communicate group cut-off dates and verify pick-up to actual block and cut-off dates.
• Ensure accuracy of the daily Flash Report and review actual performance versus potential performance.
• Complete all required month-end reports with detailed analysis and action plans for additional revenue generation.
• Review Agency 360 reports for trends, booking windows, and sources of business, as well as 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 verbally and in writing with employees and guests in a courteous and service-oriented manner.
• Multitask and prioritize departmental functions to meet deadlines.
• Attend all required hotel meetings and trainings.
• Maintain regular attendance and high standards of personal appearance and grooming.
• Comply with Highgate Hotel Standards and regulations to encourage safe and efficient operations.
• Handle problems proactively, including anticipating, preventing, identifying, and solving issues.
• 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 industry reports such as STR, Agency 360, Demand 360, and OTA Insights.
• Proficient in Microsoft Excel, Word, and PowerPoint.
• Ability to work quickly in a high-pressure and high-stress environment.
• Excellent time management and detail-oriented skills.
• Flexibility and willingness to work long hours when required.