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About the Role

The Director of Revenue Management is responsible for identifying and maximizing all potential revenue opportunities for the hotel. This role formulates and executes long and short-term Revenue Management strategies to advance RevPAR market share, considering transient and group market segments, catering, space utilization, and other revenue sources to achieve optimal business mix.

Responsibilities

• Establish hotel pricing levels in all segments and room types.
• Manage daily room inventory and pricing processes.
• Monitor competitor rates, positioning, and strategies, understanding local market dynamics and demand generators.
• Communicate occupancy fluctuations to operational departments for staffing and efficiency management.
• Analyze local events and activities to project potential opportunities.
• Understand macro and micro-economic variables affecting local supply and demand to create accurate forecasts.
• Perform unconstrained demand analysis to determine optimal business mix.
• Generate short and long-term forecasts including Weekly, 30-60-90 day, in-month, and full-year forecasts.
• Oversee the evaluation process for contracted business opportunities to ensure rapid response and maximized profits.
• Maintain software programs for rooms revenue management, including CRS, RMS, PMS, and Sales & Catering systems.
• Monitor RevPAR index on STR reports and provide critical performance analysis.
• Prepare the annual Rooms revenue budget.
• Chair weekly Revenue Strategy meetings to formulate, disseminate, and evaluate strategies and tactics.
• Prepare and present monthly/quarterly presentations to ownership.
• Ensure correct content and pricing across all distribution channels.
• Develop and maintain relationships with OTA market managers to maximize channel opportunities.
• Develop and maintain relationships with other market Directors of Revenue.
• Develop subordinates by providing opportunities for growth in Revenue Management and leadership skills.
• Manage Digital Marketing initiatives such as pay-per-click campaigns, email blasts, and GDS advertising.
• Establish and communicate sales strategy for day, week, month, and rolling 12 months.
• Communicate strategy changes and update calendars for the sales team.
• Analyze prior night successes, including sell-out performance and overselling decisions, addressing opportunities in morning meetings.
• Conduct test calls to CRO and property to ensure accuracy of rate quoting, restrictions, and selling approach.
• Manage and communicate group cut-off dates and verify pickup against blocks and cut-off dates.
• Ensure accuracy of the daily Flash Report, reviewing actual versus potential performance.
• Complete month-end reports with detailed analysis and action plans for revenue generation.
• Review Agency 360 reports for trends, booking windows, sources of business, and competitive rates.
• Review volume account production with Transient Sales Manager and Director of Sales.
• Maintain a warm and friendly demeanor.
• Effectively communicate verbally and in writing with all employee and guest levels.
• Listen, understand, and clarify concerns raised by employees and guests.
• Multitask and prioritize departmental functions to meet deadlines.
• Approach all encounters with guests and employees in an attentive, friendly, courteous, and service-oriented manner.
• Attend all hotel required meetings and trainings.
• Maintain regular attendance in compliance with Highgate Hotel Standards.
• Maintain high standards of personal appearance and grooming.
• Comply with Highgate Hotel Standards and regulations for safe and efficient operations.
• Maximize productivity, identify problem areas, and assist in implementing solutions.
• Effectively handle problems, including anticipating, preventing, identifying, and solving them.
• Understand and evaluate complex information from various sources to meet objectives.
• Maintain confidentiality of information.
• Perform other duties as requested by management.

Requirements

• Minimum of 4 years experience in the Revenue Management field.
• Bachelor’s Degree.
• In-depth knowledge of industry reports such as STR, Agency 360, Demand 360, OTA Insights etc.
• Proficient in Microsoft Excel, Word, Power Point.
• Ability to work quickly in a high-pressure & high stress environment.
• Ability to communicate clearly both verbally and in writing.
• Excellent time management skills.
• Exceptional attention to detail and follow-up.
• Flexibility for long hours sometimes required.

Skills

• Revenue Management
• Channel Management
• Yield Management
• Forecasting
• Pricing Strategy
• Data Analysis
• Microsoft Excel
• Microsoft Word
• Microsoft Power Point
• Communication Skills
• Time Management
• Attention to Detail
• Problem Solving
• Digital Marketing
• Pay Per Click Campaigns
• Email Blasts
• GDS Advertising

Location

• New York

Work Type

• Full-time

Experience Level

• 4 years minimum experience in Revenue Management

Education Level

• Bachelor's Degree

About the Company

• Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America.
• With a 30-year track record as an innovator in the hospitality industry, this forward-thinking company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition.
• Highgate continues to demonstrate success in developing a diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts, featuring contemporary programming and digital acumen.
• The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value.
• With an executive team of seasoned hospitality leaders and corporate offices worldwide, Highgate is a trusted partner for top ownership groups and major hotel brands.