Revenue Manager

4 months ago

Dubai, United Arab Emirates Emirates Grand Hospitality Full time

**Summary Description**:
Champion the revenue maximization initiatives in rooms and banqueting and create the Revenue Management process in the Hotel. Lead cross functional decision making of all revenue generating departments including Sales and Marketing, Rooms, Spa and Food and Beverage departments. Responsible for competitive intelligence and facilitate strategic competitive practices through scientific decision support tools.

**A)** **Responsibilities and Duties**:

- To ensure all records are maintained accurately and filed appropriately in both the computerized systems and on all documentation relating to each enquiry/reservation.
- To carry out audits of future room reservations, ensuring
- To be familiar with all hotel policies and procedures.
- To be well-versed with the facilities and services offered by the hotel.
- To “master” the room product in terms of rates, layout and physical attributes, breakdown/configuration, benefits and amenities.
- To be well-versed in all reservations handling and process, proficient in operating the reservations systems and equipment.
- To provide prompt, courteous and efficient service at all times. To answer the phones within three rings.
- To upsell whenever possible to maximize on occupancy and revenues.
- To fully understand market segmentation to accurately “qualify” reservations.
- To handle incoming reservation requests/correspondence, confirming or regretting on the day received.

**1. Forecasting**

To be able to recommend revenue maximization strategies an accurate forecasting mechanism has to be developed and applied.

a. Create a daily forecast (Mon-Sun) for all segments including room nights, ATR and revenue on a weekly basis for the following week based on history, seasonality, special events, business on the books, pick-up trend, average length of stay, stay/cancellation/no-show pattern and lead time.

b. Create a daily forecast (Mon-Sun) for all segments including room nights, ATR and revenue on a monthly basis for the next three months based above pattern.

c. Create a monthly forecast for all segments including room nights, ATR and revenue on a monthly basis for the next 12 months rolling based on above pattern.

d. Be actively involved in the yearly budget process for room nights, ATR and revenue.

e. Be actively involved in the creation of daily and monthly forecasts for Banquet Space Utilization

**2. Availability and Inventory Management**

To develop and communicate strategies to optimally sell the constrained inventory of rooms and banquet space.

a. Monitor rate availability and inventory available for sale in relation to expected demand versus supply of hotel and market to ensure that the RevPAR of the Hotel is maximized at all times.

b. Monitor overselling and ensure that forced upgrades are minimized.

c. Review Wholesale Allotment Contracts as part of overall business mix optimization strategy

d. Work with Reservation Department to ensure that the appropriate rates, promotions, packages and inventory are available on all distribution channels including ORS, OWS, GDS, Internet and Extranet.

e. Establish a dynamic group ceiling for rolling 12 months based on demand forecast according to an optimized business mix strategy and review on a weekly basis with Sales & Marketing.

f. Determine and monitor the space release policy to ensure total hotel revenue is maximized (Meeting space only versus Meeting space plus rooms).

**3. Yield Management**

To develop and recommend RevPAR maximizing Yield Strategies.

a. Devise and recommend the Hotel’s tier pricing strategy based on demand forecast, competitive situation and inventory availability for online channel and direct.

b. Determine optimum Length of Stay restrictions to maximize revenue over time if demand exceeds supply (no automated RMS)

c. Access and use IDeaS (automated RMS) on a daily basis to ensure the Hurdle rate recommendations result in maximum RevPAR. Review override report and minimize overrides.

d. Handling Reservation Department to ensure that Hurdle Rates/Restrictions are applicable in all channels.

**4. Hotel Profitability and Revenue Opportunities**

To determine and recommend strategies to price optimally and maximize revenues and profits for various departments.

a. Review competitive information reports for benchmarking against competitive set and develop strategy to increase the Revenue Share Position.

b. Analyze historical data of individual guests at both hotel and group wide level, to identify opportunities for higher total revenue and profit per customer stay, cross-selling opportunities, value added packages, incremental pricing or occupancy etc.

c. Analyze distribution channels and companies to understand transaction costs, customer type and revenue and suggest incremental profitability opportunities.

d. Analyze past data to understand the price elasticity of the Hotel’s demand in different market segments to devise the appropriate pricing s

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