Director of Revenue Management

2017-02-16 | Guest Services / Front Office | The Westin Michigan Avenue Chicago

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At a glance

Location

Chicago,USA

Employment Fraction

Full Time

Reference Code

20410192

Job Description

Position Purpose: • Maximize overall hotel revenue through development and implementation of effective transient and group inventory and pricing strategies based on future demand forecasts. Oversee Reservations Department supervision. Essential Functions: Driving Hotel Performance: • Drive Market Share and revenue performance through proper pricing and mix management. • Develop overall pricing strategy to include all market segments and distribution channels. • Provide guidance on corporate transient negotiated pricing as well as group pricing. Ensure Group Target Rates and selling guidelines are updated on a regular basis. • Ensure effective pricing strategies are in place that reflect the asset’s strength relative to the competition in each market. • Effectively manage inventory and pricing strategy in all distribution channels including Branded Web, Online Travel Agencies (OTAs), Central Reservation Office (CRO), Wholesale/FIT partners and Global Distribution System (GDS). • Focus on lowering distribution costs and driving room nights to branded web. • Closely monitor competitive pricing and understand impact of relative pricing decisions on property performance • Work with RDRMs and ADRMs to conduct regular price elasticity tests in various market conditions, measure results, and share key learning’s. • Review and analyze STR data on a weekly and monthly basis with the hotel’s top line team. • Compile weekly analysis report to analyze key drivers to market share performance and understand overall effectiveness of strategies. Implementation of Standards: • Responsible for effective implementation and compliance with Starwood Revenue Management Standards (Rate Plans, Rate Categories, and Market Segment set up, etc) • Complete understanding and effective execution of current and new RM tools. Including, but not limited to Galaxy/Lightspeed PMS, IPS, ROS, PDA tools, ISAC, Crystal Reports, TravelClick reports, Smith Travel reports, Pace reports and any new tools or reports developed. • Ensure Best Rate Guarantee Compliance. Educator of the Data: • Clearly communicate to hotel team the strategic vision and objectives on how to drive revenues and improve performance. • Ensure team members understand the concept of Revenue Management and the role of the DORM. • Provide hotel team with regular updates on hotel performance to include market share, market segment, channel metrics etc. • Educate sales team on effective use of Group Optimizer to improve profitability of group bookings. • Share best practices and key learning’s with peers, RDRM, and Corporate RM team. Key Meetings: • Lead the property’s weekly Sales Strategy Meeting and Daily Business Review Meetings. • Provide Executive Committee and hotel ownership with regular revenue management updates. • Contribute and provide Revenue Management strategic vision during all Regional and Corporate Property Reviews and/or Pricing Meetings. Planning: • Produce accurate forecasts on weekly, monthly and quarterly basis. • Validate comp set RevPAR forecast by month to ensure effective soft spot calendar planning. • Develop and update Strategic Sales Plan with the Director of Sales & Marketing. • Collaborate with Field Marketing to develop property specific promotions and marketing campaigns targeted against need periods. People Development: • Recruit, train, and mentor Revenue Manager, SRSA and reservations coordinators. • Assist in developing a career path for direct reports. • Coach and supervise Revenue Manager in issues relating to the daily operation of the Reservations Department.

Requirements

SPECIFIC JOB KNOWLEDGE, SKILLS AND ABILITIES The individual must possess the following knowledge, skills and abilities and be able to explain and demonstrate that he or she can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of knowledge, skills, and abilities. •Must be able to speak, read, write and understand the primary language(s) used in the workplace. •Must be able to read and write to facilitate the communication process. •Requires good communication skills, both verbal and written. •Extensive knowledge of the hotel, its services and facilities. •Must have excellent customer relations skills and leadership capability. •Must be detail oriented with outstanding organizational and communication skills. •Must possess basic computational ability. •Must possess basic computer skills. •Must have excellent leadership capability and customer relations skills. •Working knowledge of federal, state and local laws governing equal employment opportunity and civil rights, occupational safety and health, wage and hour issues, and labor relations, including, but not limited to the following statutes and their comparable state and local laws (where applicable): Title VII, ADEA, Equal Pay Act, Pregnancy Discrimination Act, FLSA, ADA, OSHA, FMLA, and NLRA. Physical Demands •Most work tasks are performed indoors. Temperature is moderate and controlled by hotel environmental systems. •Must be able to sit at a desk for up to 4 hours per day. Walking and standing are required the rest of the working day. Length of time of these tasks may vary from day to day and task to task. •Must be able to exert well-paced ability to reach other departments of the hotel on a timely basis. •Must be able to lift up to 15 lbs. occasionally. •Requires grasping, writing, standing, sitting, walking, repetitive motions, bending, climbing, listening and hearing ability and visual acuity. •Talking and hearing occur continuously in the process of communicating with guests, supervisors and subordinates. •Vision occurs continuously with the most common visual functions being those of near vision and depth perception. •Requires manual dexterity to use and operate all necessary equipment. •Must have finger dexterity to be able to operate office equipment such as computers, printers, 10-key adding machine, electric typewriter, multi-line touch tone phone, filing cabinets, FAX machines, photocopiers, dolly and other office equipment as needed. QUALIFICATION STANDARDS CANDIDATE PROFILE Education and Experience 4-year bachelor's degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 2 years experience in the revenue management, sales and marketing, or related professional area. Grooming All employees must maintain a neat, clean and well-groomed appearance per Starwood standards. This job description is not an exclusive or exhaustive list of all job functions that an employee in this position may be asked to perform from time to time

Department

Revenue Management

Location

The Westin Michigan Avenue is located on Chicago's famed Magnificent Mile steps from Lake Michigan, award-winning restaurants and premier shopping. Plus, we're within walking distance to the Midwest’s most popular tourist and leisure destination, Navy Pier. Get immersed in the unique culture of Chicago and let The Westin Michigan Avenue transcend your next visit to the Windy City.

Company Description

Marriott International is the world’s leading global hospitality company, with more brands, more hotels and more opportunities for associates to grow and succeed. With 5,700 properties, you’ll find us in your neighborhood and in more than 110 countries across the globe. Learn about our 30 hotel brands at www.marriott.com/marriott-brands.mi. Find Your World.™

Marriott International is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture. Marriott International does not discriminate on the basis of disability, veteran status or any other basis protected under federal, state or local laws. The EEO is the Law poster and its supplement are available using the following links: http://www1.eeoc.gov/Employers/poster.cfm AND http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf

The pay transparency policy is available here: http://www.dol.gov/ofccp/pdf/pay-transp_unformattedESQA508c.pdf

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Back to search

At a glance

Location

Chicago,USA

Employment Fraction

Full Time

Reference Code

20410192