Revenue Manager Select Service- Remote Position
Company: Highgate Hotels
Location: New York
Posted on: September 19, 2023
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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. www.highgate.com .
Overview
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.
Responsibilities
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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