Director of Revenue Management

This is a remote/hybrid position.

Summary:

The Director of Revenue Management is responsible for maximizing overall hotel room revenue through the implementation of effective pricing and distribution strategies. Out-perform direct competitors by winning market share with rational and competitive pricing, distribution strategy backed by targeted marketing, and careful management of hotel inventory to maximize topline revenue. Manage and oversee revenue management analytic functions to produce reporting that support and evaluate hotel business strategies. Provide guidance and support sales and marketing initiatives that are targeted to meet the needs of the hotel. Produce accurate revenue forecasts that help set hotel goals and outgrow the competition. Display leadership qualities that mentor, develop, and guide hotel team members such as revenue analysts and general managers in accordance with ARK's mission, vision, and core values.

Primary Responsibilities:

Revenue Management

• Analyze competitor, historical and statistical data such as supply, demand, price sensitivity and rate to aid in establishing optimum pricing.
• Maximize revenue through sensible and intelligent rate restrictions by setting up blackout dates, minimum/maximum length of stay and room
• inventory yielding.
• Ensure optimum positioning and representation on all distribution channels.
• Collaborate with and assist brand revenue managers in developing revenue management strategies.
• Lead revenue management calls, including creating agendas and follow up/action items.
• Collaborate with sales and finance teams to prepare annual revenue budgets.
• Provide Forecasts 30 days and 60 days out.
• Identify, evaluate and engage with hotel/sales on revenue generating prospects and formulate action plans to capitalize on such opportunities.
• Train and educate hotel team members on the established rate strategies in order to foster an innovative and collaborative environment centered around revenue management principles.
• Analyze and review weekly and monthly STR Reports and implement or suggest corrective actions as needed.
• Ensure compliance and strategic participation in brand promotions.
• Explore additional opportunities that drive profit, create value for guests and encourage innovation challenging existing strategies to make improvements.
• Review Hotel Planner bids and stats for all properties and follow up with GMs/RDs on any issues.
• Review Reservation Activity Reports for correct coding and inquire about any reservation that is significantly lower than BAR.
• Train, coach, and mentor both Revenue Managers and Revenue Analysts.

Other Duties

• Regularly communicate with brand representatives.
• Perform bi-monthly property visits.
• Take an active part in company affairs and related events.
• Excel / Word Training as needed.
• GM Binder RM section Training as needed.
• Attend industry meetings and events to represent and promote ARK along with gaining knowledge to share with our ARK team.
• Assist with onboarding of new hotels through property visits, training, and setting up systems.
• Execute other duties and special assignments.

This is a remote/hybrid position.