Assistant Director of Revneue Managment
Sheraton Boston Hotel
Location: US - MA - Boston
Boston, MA, US 02199
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Maximize overall hotel revenue through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data. The DORM is responsible for determining the optimal mix of customers and managing the distribution strategies on all channels to drive market share. Communicate revenue management strategic vision to leadership team at hotel. Participate in total hotel management as a member of the hotel Executive Committee.
ESSENTIAL FUNCTIONS
AVERAGE %
OF TIME
30% 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. oProvide guidance on corporate transient negotiated pricing as well as group pricing. Ensure Group Selective Sell Guidelines are updated on a regular basis. oEnsure effective pricing strategies are in place that reflects asset strength relative to the competition in each market. -Effectively manage inventory and pricing strategy in all distribution channels including Branded Web, 3 rd Party Sites, Central Reservation Office (CRO), and Global Distribution System (GDS). oFocus 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 Hotel Revenue Management Teams. -Compile Weekly Performance Report on a weekly basis to analyze key drivers to market share performance and understand overall effectiveness of strategies.
20% Implementation and Standards
- Responsible for effective Implementation and compliance with Starwood Revenue Management Standards.
- Complete understanding and effective execution of current and new RM tools. Includes Galaxy or Fidelio PMS, IPS, PRSNet, TLPe, TLGO, PDA tools, Rate Shopper, Smith Travel reports, Channel Reports, Pace reports and any new tools or reports developed.
- Compliance to Starwood Standards for Rate Plans, Rate Categories, and Market Segment set up, etc.
- Ensure Best Rate Guarantee Compliance.
20% Educator of the Data
- Clearly communicate to hotel team 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 TLGO to improve profitability of group bookings.
- Share best practices and key learning's with peers, RDRM, and Corporate RM team.
10% Key Meetings
- Lead the property's weekly Revenue Management Meeting and Daily Business Review Meeting.
- Provide Executive Committee with regular revenue management updates.
- Contribute and provide Revenue Management Strategic Vision during all Regional and Corporate Property Reviews and/or Pricing Meetings.
10% Planning
- Produce accurate forecast on weekly and monthly basis (frequency determined by hotel controller).
- 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 (DOSM).
10% People Development
- Recruit, train, and mentor if applicable Reservations Manager, Revenue Manager, and other staff managers.
- Assist in developing a career path for direct reports.
SPECIFIC JOB KNOWLEDGE, SKILLS AND ABILITIES
To fill this position, the candidate must have strong leadership and analytical skills. Specific requirements include:
- Relevant experience in Revenue Management. Hotel operations experience a plus.
- Analytical approach to problem solving and ability to "think outside the box".
- Ability to analyze financial statements and market data.
- Detail oriented and hands-on
- Team player
- Strong interpersonal skills
- Requires excellent communication skills, both verbal and written.
- Effective ability to supervise, motivate, and develop staff.
- Ability to develop and deliver effective presentations.
- Demonstrate self-confidence, energy and enthusiasm.
- Must possess computer skills, including, but not limited to, Microsoft Excel, PowerPoint, Microsoft Word, Galaxy or Fidelio, IPS, PRSNet, TLPe, TLGO, SAP, and Delphi.
QUALIFICATION STANDARDS
EducationHigh School or equivalent education required. Bachelor's Degree preferred.
Experience
Six years hotel management experience with a minimum of four years of Revenue Management or related discipline experience required.