Hotel Corporate Director of Revenue Management

Supervises: Regional Revenue Managers

About the role

To strategically coordinate the revenue management processes and procedures for all hotels within the company portfolio to maximize each hotel’s rooms revenue. Responsible for development, execution and measurement of strategic and tactical yield and inventory management via major distribution channels, including the GDS, Central and on-property reservations, brand website, and third-party internet sites. The Corporate Director of Revenue Management will support all members of the revenue management department, General Managers and the Sales Team by providing pertinent information and tools to enhance each property’s sales and marketing efforts and decision-making processes. This position will be responsible for identifying, communicating, and executing opportunities to increase incremental revenue. The Corporate Director of Revenue Management must always demonstrate professional communication and leadership in this Corporate role as it relates to upper management and managing the demands of the company, brands, peers and expectations.

Responsibilities

• Interview, select, train, schedule, coach and support associates, ensuring they perform in accordance with established brand and company standards and consistent with PHC core values to maintain a professional, cohesive team.
• Monitor & evaluate rate and inventory controls for all hotels’ Revenue Management Systems in accordance with established guidelines to maximize occupancy and revenues.
• Develop, communicate, and implement sales strategies, mix of business, channel management and pricing strategies, as well as reservations and related systems that will maintain and/or increase the hotels’ RevPAR & RevPAR Generation Index (RGI).
• Measure and analyze booking trends, pickup, no shows, source of business and proper hotel segmentation of rates and rate integrity.
• Manage, produce and monitor rate strategy tiers, booking pace by Market Segment, GDS, OTA, inventory and monthly results.
• Monitor competitive set pricing and understand the dynamics of the local market and demand generators.
• Initiate short- and long-term revenue forecasts and generate weekly and monthly critiques, identifying areas of opportunity and strategies to improve revenue and overall profitability.
• Prepare for and conduct biweekly Revenue Management calls with property GM, AGM & DOS, involving rate and inventory strategies, transient/group pace, competitive business analysis and financial forecasts.
• Work closely with the hotel GM and DOS to ensure maximization of group and LNR rates.
• Analyze city events and project the effect of opportunity they create.
• Analyze reports and available information to make long-term pricing recommendations, including weekly and monthly analysis and critique of the STR report.
• Utilize company and brand revenue forecast systems and tools to ensure that revenue and profit are maximized.
• Effectively communicate brand specific revenue management philosophies to the property staff.
• Prepare and analyze special event performance results with Operations, Sales and Revenue teams to improve positioning for future events.
• Conduct market research in markets for potential new hotel builds, acquisitions or hotel sale and advise of findings.
• Continually monitor and maintain Brand parity systems requirements.
• Remain current with Brand bulletins and communications.
• Attend Brand Revenue Management calls and attend meetings as required.
• Assist with ideas and updates to Sales team End of Month Report Template as needed.
• Creation of new Revenue Management Reports and Templates as needed.
• Oversee or prepare and distribute the following Paragon Revenue Management Reports: Biweekly 7-day Outlook, Weekly & Monthly STR Rollups, 30-day Occupancy Outlook with Heat Grid, Bimonthly Budget Pace Reports, Quarterly Anderson STR Breakdown and Sell-out Efficiency report as well as any additional reports deemed necessary.

Requirements

• 5+ years of experience in revenue management at a branded hotel preferred.
• Minimum requirement is Associate degree. Four-year College or Hospitality degree is preferred, and/or equivalent work experience.
• Prior Multi-Hotel Experience required, preferably IHG, Hilton & Marriott.
• Must be a strong leader, self-motivator, team builder.
• Must be willing and able to sign Paragon’s non-disclosure and non-compete agreements.
• Brand certification programs are preferred as well as completion of Brand Required Revenue Management Certifications.
• Must display professionalism and have characteristics of honesty and trustworthiness.
• Must possess Advanced Excel Computer Skills.
• Must have excellent Written and Verbal Communication skills.
• Must have excellent attendance and be punctual.

Knowledge, Skills, and Abilities

Knowledgeable in

• Entire Paragon Portfolio and knowledgeable of their Branded Revenue Management Standards.
• Brand Revenue Management Systems including Analytics Platforms (e.g., Cognos, One Yield, GRO, Concerto, R&I and Marsha, etc.).
• Prepare and assist with annual budgeting process including top line revenue positioning and segmentation goals.
• Knowledge of revenue management concepts, tactics and processes.

Skills

• Strong experience or adaptable training in the use of automated systems, personal computers and software programs, including Microsoft Excel, Word & PowerPoint.
• Effective communication skills to establish a collaborative approach to revenue management with both hotel and corporate leaders.
• Possesses excellent analytical skills and the ability to make recommendations based on analysis.
• Prepare and lead bi-monthly revenue calls and distribute follow-up notes and action plans.
• Prioritize departmental functions to meet due dates and deadlines.
• Understand financial information and data, and basic arithmetic function.
• Must be able to work well in stressful, high-pressure situations.
• Ongoing training and development of Regional Revenue Managers, General Managers and Directors of Sales.

Abilities

• Multitask, detail oriented, remain service centric.
• Ability to build and maintain strong relationships with key stakeholders, operations and sales teams.
• Communicate with co-workers, receiving and transmitting mail, phone and written messages and relay pertinent information.
• Has strong communication skills, both verbal and written.
• Manage time effectively and possess the ability to work independently.
• Ability to make sound decisions with minimal supervision.
• Ability to take initiative towards learning new tools and processes.
• Assist with guest issues with professionalism maintaining hospitable attitude.

Work Environment & Schedule

• Must be able to perform major life activities: standing, lifting, bending, learning, reading, concentrating, thinking, and communicating.
• Must be able to stand for eight hours, bend, stretch,