Revenue Manager

Roles and responsibilities

As Revenue Manager you will set and effectively communicate the hotel pricing strategy by market segment with reference to market intelligence, buying patterns and pre-determined seasonality.Further you will actively participate in the production of the hotel’s annual budget and assist in the creation, update and evaluation of the hotel sales and marketing plan. You will be responsible for ensuring available technology (PMS & RMS) is fully utilized and understood according to the property specific business mix and requirements and to ensure optimal use. You will then measure performance on all distribution channels, to ensure that fair market share is well achieved. Key areas of responsibility include:

• To prepare weekly accurate 3 months forecast for hotel rooms revenue by Market Segment.
• To prepare monthly accurate rolling 12 months forecast for hotel rooms revenue by Market Segment.
• To set and effectively communicate the hotel pricing strategy by market segment with reference to market intelligence, buying patterns and pre-determined seasonality.
• To prepare and chair a weekly Revenue Meeting.
• Collate and distribute meeting minutes of notes on forecast and strategy changes, including weekly action plan.
• Set monthly targets of upselling revenue for front office and reservations department.
  

Qualifications

• Bachelor degree in hotel management or finance.
• 2 years revenue and yield experience in the hospitality industry
• Familiar with the hotel operations, available technology (PMS & RMS) and all distribution channels.
• Understand the dynamics of regional & local markets, as well as local competitors and events.

Desired candidate profile

Essential Skills and Attributes

1. Analytical Skills

• Proficiency in analyzing data to identify trends, opportunities, and challenges.
• Using statistical tools and revenue management software to interpret performance metrics.

2. Strategic Thinking

• Developing pricing and inventory strategies to maximize revenue and profitability.
• Anticipating market trends and adjusting strategies proactively.

3. Market Knowledge

• Understanding market demand, competitor behavior, and customer preferences.
• Staying updated on industry trends and economic factors affecting revenue.

4. Financial Acumen

• Monitoring and analyzing revenue reports, profit margins, and financial KPIs.
• Creating budgets, forecasts, and financial models to guide decision-making.

5. Communication and Collaboration

• Presenting insights and recommendations to stakeholders and leadership teams.
• Collaborating with sales, marketing, and operations to align strategies.

6. Time Management

• Balancing multiple projects, meetings, and reporting deadlines efficiently.
• Responding quickly to market changes or sudden shifts in demand.

7. Problem-Solving

• Addressing challenges like revenue shortfalls or inefficiencies in pricing structures.
• Implementing solutions to overcome obstacles and achieve financial goals.

8. Technological Proficiency

• Expertise in revenue management systems (e.g., IDeaS, Duetto, or Sabre).
• Strong skills in Excel, SQL, or BI tools like Tableau or Power BI for data analysis.

9. Leadership and Decision-Making

• Leading revenue optimization initiatives across teams or departments.
• Making informed, data-driven decisions that align with organizational goals.

10. Adaptability

• Adjusting strategies based on real-time data, seasonality, or unexpected disruptions.
• Managing fluctuations in market conditions with flexibility and precision.