The Vice President of Revenue Management oversees the Revenue Management Department, including management of Revenue Management and the day to day execution and implementation of a Revenue Management Strategy to maximize top-line revenue generation. The Vice President of Revenue Management will assist in maximizing top line revenue and work with the Senior Vice President of Operations to achieve this objective. This position will lead a Revenue Management Strategy by establishing room and rate allocations by market segment and opportunity dates and seasonality for the year as well as help set pricing and inventory strategies and contribute to the creation and implementation of revenue management training programs. The Vice President of Revenue Management is responsible for interviewing, hiring, and training revenue management employees and will report to the Executive Vice President of the company.
- Bachelor's degree in business or related field or equivalent work experience
- Minimum of 5 years experience in hotel revenue management
- Minimum of 2 years management experience in revenue management preferred
- Proficiency of IT systems and strong technical skills.
- A strong working knowledge of brand related revenue management systems, PMS systems, GDS and extranet strongly preferred
- Excellent verbal and written communication skills
- Proven ability to take action when issues are not quickly resolved
- Ability to effectively follow up on multiple projects
- Ability to present analysis to all levels of management in a variety of settings
- Provide strong negotiation skills with outside vendors
- Less than 30' travel required
- Manages revenue management department including team of 6 revenue managers.
- Maximizes room revenue by formulating, implementing and enforcing yield management strategies and techniques
- Manages the department budget, P&L, annual budgets and cost control initiatives
- Manages all aspects of competitor intelligence; pricing; management of room inventory; distribution channels, market segment mix and acceptance/denial of major group bookings
- Develops tools and training to help drive revenue results
- Creates and implements programs to achieve greater profitability through increasing average rate, overall occupancy and increased business volume during off-peak periods
- Implements and monitors of sales strategies through the collection of historical & current data and future trends to assist with pricing and restriction placement
- Assists in developing the annual budget to meet/exceed portfolio goals along with yearly, monthly and weekly forecast projections
- Builds relationships and monitor results with all OTAs and online distribution points
- Negotiates contracts with Distribution Channels
- Provides communication and education of Yield/Revenue Management strategies to Inn Management
- Analyzes STAR Report and other key reports for each Inn weekly and communicates opportunities to Inn Management and/or district/regional heads
- Analyzes new potential business for profitability as it relates to displacement and bottom line results
- Monitors competitor pricing for all revenue generating departments and understands the dynamic of the local markets and recommends appropriate actions for the inns pricing and market segmentation strategy
- Other duties as assigned
This business believes a night's lodging shouldn't put you in the red. Red Roof Inn is a leading budget motel chain with nearly...