Director of Revenue Management

Director of Revenue Management

Requirements

• Associate’s or Bachelor’s degree in Hospitality Management, Business, Finance, or a related field.
• Minimum of 7-10 years of progressive experience in revenue management, preferably in the hospitality industry.
• Experience managing multi-property revenue management strategies.
• Strong knowledge of revenue management systems (IDeaS, RevPlan, etc.) and hotel property management systems.
• Proficiency in Microsoft Excel, PowerPoint, and data visualization tools.

Responsibilities

• Develop and implement comprehensive revenue management strategies for all portfolio hotels in collaboration with the Vice President of Revenue Management.
• Monitor market trends, competitor pricing, and demand patterns to optimize pricing and distribution strategies.
• Lead the forecasting and budgeting process, ensuring accuracy and alignment with financial goals, in consultation with the Vice President of Revenue Management.
• Collaborate with Sales, Marketing, and Operations teams to drive total revenue performance.
• Analyze data from revenue management systems, STR reports, and other market intelligence tools to identify opportunities and risks.
• Implement and oversee best practices in revenue management across all properties.
• Ensure compliance with brand standards and company policies regarding revenue management practices.
• Provide training and mentorship to property-level revenue management teams.
• Develop strong relationships with key stakeholders, including ownership and corporate leadership.
• Evaluate and recommend enhancements to revenue management technology and systems.
• Performs any other job-related duties as assigned.
• Establish, monitor, and adjust pricing strategies across various market segments.
• Drive revenue performance through data-driven decision-making and strategic planning.
• Provide guidance and recommendations on inventory management and distribution channel optimization.
• Lead weekly revenue strategy meetings with property teams.
• Assess and implement group displacement analysis and pricing strategies.
• Collaborate with digital marketing teams to optimize online presence and conversion rates.
• Prepare and present regular reports on revenue performance and future outlook.

Preferred Qualifications

• In-depth understanding of hotel revenue management principles and best practices.
• Strong analytical skills with the ability to interpret complex data and make strategic decisions.
• Excellent communication and presentation skills.
• Ability to lead and influence cross-functional teams.
• Strong problem-solving and critical-thinking abilities.
• Ability to work independently and manage multiple priorities effectively.
• Knowledge of global distribution systems (GDS), online travel agencies (OTAs), and direct booking channels.