Area Revenue Manager NYC

 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 Area Revenue Manager 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 three NYC hotels.

Essential Functions:

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 Selective Sell Guidelines are updated on a regular basis. Ensure 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). 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 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 management. -Compile Weekly Performance Report on a weekly basis to analyze key drivers to market share performance and understand overall effectiveness of strategies.

• Responsible for effective Implementation and compliance with corporate standards.
• Complete understanding and effective execution of current and new revenue management tools. Includes Opera or Choice System, Merlin, Perform, Holidex, Market vision, STAR, Hoteligence, Channel Reports, Pace reports and any new tools or reports developed.
• Compliance to Brand Rate Plans, Rate Categories, and Market Segment set up, etc.
• Ensure Best Rate Guarantee Compliance lead the property's weekly Revenue Management Meeting and Daily Business Review Meeting.
• Provide management with regular revenue updates.
• Contribute and provide Revenue Management Strategic Vision during all Regional and Corporate Property Reviews and/or Pricing
• Produce accurate forecast on weekly and monthly basis
• Develop and update strategic sales plan with DOSM

SPECIFIC JOB KNOWLEDGE, SKILLS AND ABILITIES

• 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, Opera, Perform, Choice, Holidex.
• New York City Experience a big plus

Qualifications

Four year college degree preferred

Hotel experience minimum five years with revenue concentration of three or more years