To accomplish the primary goal of maximizing revenue for our managed properties within the hospitality industry, the core duties are:
Create Pricing Strategies
A major function of the Revenue Manager is to determine and set room rates and other prices in order to keep our properties competitive and earn revenue. This aspect of the job might include assisting in creating promotional campaigns in order to generate business, work with front desk personnel to track customer trends and reservations. The Revenue Manager will also forecast future demand and pricing trends.
Conduct Competition Analyses
In order to determine competitive prices to ensure increased reservations and more revenue, The Revenue Manager will periodically evaluate the prices of our competition. They will also analyze economic trends to determine the demand for accommodation reservations based on tourism and business travel.
Track Hotel Revenue
The Revenue Manager will work with various departments within a team to create a budget and use accounting processes to determine the revenue after expenditures. They will report financial information to the Executive Director and make suggestions for increasing revenue through changes in pricing and efforts in generating more business.
Revenue Manager Skills
As expected, The Revenue Manager would need excellent analytical, communication, customer service and organizational skills in order to be effective in this position. Both written and verbal communication skills are a must, as The Revenue Manager typically conduct meetings and submit reports. They should be strong team leaders who can focus a group on achieving the same goal of creating revenue for a lodging establishment. An attention to detail, above average math skills and the ability to meet deadlines are all important aspects in revenue management. In addition to these general skills.
Experience: A minimum of 2 years revenue management required with proven success in the industry.
Education: Post secondary preferred.
Job Type: Full-time
Salary: $50,000.00 to $70,000.00 /year