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Revenue Manager Select Service- Remote Position

Company: Highgate Hotels
Location: New York
Posted on: September 19, 2023

Job Description:

Highgate Hotels

Highgate is a leading real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in major U.S. gateway cities including New York, Boston, Miami, San Francisco and Honolulu, with a growing Caribbean and Latin America footprint. The hospitality forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in New York, Chicago, Dallas, London, Miami, and Seattle. .


The Revenue Manager is responsible for identifying and maximizing all potential revenue opportunities for assigned portfolio of select service hotels. The Revenue Manager is responsible for formulating long and short-term Revenue Management strategies and for overseeing their successful execution towards the advancement of RevPAR market share for their portfolio. This includes the analysis of revenue potential generated by the transient and group market segments as well as the market segmentation within transient and group. The Revenue Manager will determine the appropriate mix of business to achieve revenue potentials every day of every year.


For an assigned portfolio of hotels, the Revenue Manager will:

- Establish hotel pricing levels in all segments, lengths of stay, and room types.
- Responsible for the daily room inventory management process and daily pricing process.
- Monitor competitor rates, positioning, strategies and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management.
- Responsible for all short- and long-term forecasts including Weekly Forecasts, 30 60 90 Forecasts, In the month forecasts, and Full year forecasts.
- Monitor RevPAR index on STR report and provide critical analysis of performance on weekly and monthly basis. Create action plans to measure and improve market share performance.
- Analyze both branded and industry tools, such as Kalibri Labs and TravelClick, for trends, booking windows and sources of business as well as rates compared to competition to swiftly deploy actionable strategies and measure results.
- Chair weekly Revenue Strategy meetings to formulate and disseminate strategies and tactics. Ensure that prior decisions are re-visited in this forum to evaluate their effectiveness and promote learning.
- Oversee process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, crew etc.) presented through the Sales department. Ensure that process enables high speed of response while maximizing profits.
- Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
- Analyze prior night successes: Did the hotel sell out? Were the right decisions made for overselling? What can be done to improve future performance?
- Understand the macro and micro-economic variables, including local and national events, affecting supply and demand in the local marketplace and use this knowledge to create accurate topline room revenue forecasts.
- Perform unconstrained demand analysis to determine optimal business mix.
- Responsible for the maintenance of any software programs which contribute to the management of rooms revenue, including the CRS, RMS, PMS and Sales & Catering system.
- Prepare annual Rooms revenue budget with collaboration from sales and operations.
- Ensure all distribution channels have correct pricing and offerings including room types.
- Collaborate with Digital Marketing Team on pay per click campaigns, e-mail blasts, GDS advertising, etc. to further enhance revenue potential.
- Establish and communicate sales strategy for day, week, month and rolling 12 months.
- Communicate any strategy changes or update any calendars for the sales team to use.
- Place test calls to Central Reservation Office (CRO) and property to ensure accuracy of rate quoting, restrictions and selling approach.
- Manage and communicate group cut off dates. Run group room control logs (GRC) as well as pick up report from Property Management System (PMS) for 90 days. Verify pick up to actual block, cutoff date, and whether you should extend, etc.
- Update the Daily Market Segment Analysis (DMSA). Ensure accuracy from the daily Flash Report. Review actual performance versus Potential performance.
- Complete all required month end reports with detailed analysis. If necessary, complete action plans for the property to follow to create additional production/revenue.
- Develop and maintain relationships with other market revenue managers and Directors of Revenue to create a network of peers in your community

Keywords: Highgate Hotels, New York , Revenue Manager Select Service- Remote Position, Executive , New York, New York

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