Director of Revenue Management

The Director of Revenue Management is responsible for maximizing overall hotel revenue for rooms and food and beverage through the implementation of effective pricing and distribution strategies in large hotels. Out-perform direct competitors by winning market share with rational and competitive pricing, distribution strategy backed by targeted marketing, and careful management hotel inventory to maximize topline revenue and yield high net profits. Manage and oversee revenue management analytic functions to produce reporting that supports and evaluates hotel business strategies. Lead total hotel revenue management initiatives to include Function Space, Events, Outlets, Spa and Activities, where applicable. 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 managers.
Position Responsibilities / Essential Functions:
Oversee and guide the hotel revenue management team to formulate transient and group inventory restrictions and pricing strategies toward the goal of increasing market share and maximizing revenues for the hotel.
Lead revenue maximization and pricing initiatives for all revenue-generating departments in the hotel. Develop coordinated tactics to impact multiple revenue streams to increase profits.
Implement hotel sales strategy and pricing recommendations across all channels, Hyatt revenue systems and market segments.
Analyze results of strategies and tactics deployed on a monthly basis. Provide all communication necessary to hotels teams, regional teams and ownership groups.
Responsible for executing Hyatt corporate revenue management initiatives, and maintaining the standards outlined in the North America Revenue Management Standards and Procedures manual.
Manage the relationship with each of the four major OTA market managers to ensure that the hotel is maximizing revenue and marketing exposure from each of our top partners.
Create the revenue forecasting process for the hotel to ensure that the accuracy of each forecast falls within Hyatt standards. This includes the 11-day, Monthly and Annual forecast as needed. Prepare the Annual Budget for the hotel.
Work with the hotel Director of Sales to develop and implement group pricing and inventory strategies for the entire group booking cycle.
Develop pricing strategy for the business/leisure travel sales team based on demand projections and competitive shops.
Partner with the Director of Sales to ensure that hotel strategy is implemented on an account-by-account basis.
Partner with the hotel's Director of Sales/Marketing to develop and implement the hotel SEO/SEM goals in conjunction with TIG/Milestone.
Focus the teams on tactics that produce the highest revenue and return on investment.
Facilitate and lead weekly hotel Sales Strategy meetings in accordance with Hyatt Revenue Management standards to include representation from all revenue-generating departments.
Facilitate Daily Business Review meetings in accordance with Hyatt Revenue Management standards.
Effectively manage and maintain Hyatt revenue management systems including PRIO, Reserve, Opera, Envision and Passkey in accordance with Hyatt Revenue Management Standards.
Coordinate with the front office team to maximize revenue from the following programs; Front Desk up-sell programs, sell-out management effectiveness, and premium room type efficiency.
Work closely with the Convention Services Team/Space Manager to ensure that hotel meeting space is properly utilized to maximize room rental and food and beverage revenue potential.
Represent the hotel by participating in and/or conducting industry functions in the area.
Develop working relationships with managers in the Group Sales, Catering Sales, and Convention Service staff, providing consultation on strategies for booking optimal group and catering business.
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