Vice President of Revenue Management

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Job Description Summary:

The Vice President of Revenue Management is responsible for implementing hotel revenue management objectives, which encompass maximizing revenues and profit through rate and inventory management of all market segments for Benchmark, a global hospitality company.

The Vice President will take an active role and oversite of a regional team to support each hotel’s pricing and distribution of inventory across various channels of distribution to maximize revenues.

The position supports a regional team and local Director of Revenues with their property in meetings, analyzing trends in group and transient segments, exceeding budged occupancy, ADR and revenue goals and setting group ceilings, target rates in conjunction with the sales and catering team.

The Vice President of Revenue Management will be responsible for managing and maintaining controls including daily review, implementation of rooms and rate inventory controls for our portfolio of hotels. The Vice President of Revenue Management will also oversee the Corporate Global Reservations Center.

Job Description:

CORE COMPETENCIES:

Profit Motivation, Financial Success, Customer Service/Relations, Quality Leadership, Teamwork, Communication, Innovation, Decision-Making, Work Methods

QUALIFICATIONS:  EDUCATION, KNOWLEDGE, TRAINING & WORK EXPERIENCE

• Bachelor’s degree required
• Minimum Seven years’ experience in the hospitality revenue field experience required.
• Excellent written and oral communication skills with good ability as a trainer.
• Work-related Analytical Experience.
• Aggressive, outgoing and self-motivating individual with pleasant personality.
• Current experience in a senior revenue management position with responsibility for either a large hotel or multiple properties.
• Thorough knowledge of the internet.
• Thorough knowledge of the GDS and Extranets
• Understanding of revenue management techniques and strategies.
• Travel required.

ESSENTIAL FUNCTIONS:

• Optimize RevPAR by analyzing/forecasting demand and establishing effective selling strategies, oversell strategies, optimal and seasonal market mix including group, transient and wholesale using Benchmark Hospitality revenue management tools.
• Conduct ongoing competitor price/product analyses to ensure proper rate positioning/product offering relative to competition
• Work with Revenue Management Strategy team on pricing decisions for transient, group and wholesale segments.
• Implement pricing strategies for group and transient business segments; analyze competitor-pricing analysis to ensure correct daily and seasonal rate positioning to the competition.
• Works with Reservations Sales team to ensure ongoing F.I.T. Sales Training; analyze each individual agent’s conversion and coaching call scores and then assists Reservations Sales Agent in improving their performance.
• Manages Home Office Reservations: interview, train, develop, empower, coach and counsel, recommend performance reviews, resolve problems, provide open communication and recommend discipline, as appropriate
• Establishes and maintains minimum standards for Transient Room Sales to include: weekly Yield Meetings, PMS rate configuration, sales agent scripting, call conversion goals, coaching call goals, and standardized reporting.
• Acts as a liaison between electronic distribution channels, including offsite call center, to maximize property exposure and bookings.
• Provides a monthly analysis to management complete with speculation on future performance of all market segments to include Rate, Occupancy, and REVPAR.
• Work with DOSM to provide a weekly and monthly analysis of the STAR report to include both group and transient.
• Manage/update current selling strategies and product information in all available distribution channels/reservation sources (PMS, third-party reservations providers, call centers, websites, GDS, etc.)
• Facilitate Weekly Revenue Strategy meetings
• Work with the Corporate Director of Revenue Management in recommending and implementing of Revenue Management programs and new initiatives at the hotel.
• Work with DOSM and hotel team to establish strategies to increase revenue of both rooms and F&B.
• Generate and distribute daily, weekly and monthly revenue management reports and present results from all segments including internet channels.
• Maintain accurate and detailed historical data for all market segments
• Continually monitor all pertinent travel related websites to ensure competitiveness in positioning, text, availability and price.
• Maximizing the Hotels' revenues by monitoring transient and group production, ensuring that an optimal guest mix is maintained
• Compile data, analyze trends, and develop accurate weekly and monthly forecasts. 
• Critically analyzing the impact of the revenue management strategies implemented by the Hotels, including pricing
• Ensuring that all rate plans are built in accordance with established guidelines
• Update and maintain all revenue management tools.
• Ensuring that the Hotels' position in the GDS and other distribution channels is consistent with the Hotels' Selling Strategies, includes conducting rate parity and availability audits
• Ensure group inventory and cut-off dates are managed according to demand
• Dealing effectively with people, creating teamwork, taking charge, generating enthusiasm, motivating and using an uplifting and lead-by-example leadership approach

MARGINAL FUNCTIONS:

Respond to any reasonable task as assigned by supervisor or manager.

Benchmark is committed to providing equal employment opportunities to all applicants and employees without regard to race, color, religion, sex, national origin, age, disability, pregnancy, military service obligations, citizenship status, genetic information or any other protected status in accordance with all applicable federal, state and local laws.