Revenue Manager

This is a remote position.

Position Objectives

This role focuses on yield and revenue management across the group of hotels within our network. You will provide hands-on specialist revenue support, analysis, and strategic recommendations for property managers, helping them maximize revenue performance.

The client utilizes state-of-the-art revenue management systems to facilitate automated rate adjustments, forecasting, and reporting. We require a Revenue Manager who can proficiently manage these systems, support traditional revenue management principles, and leverage key data insights to drive revenue growth across the portfolio.

This role will also involve managing relationships with OTAs (Online Travel Agents), ensuring strategic utilization of promotional tools, and collaborating across multiple departments to implement cohesive revenue strategies.

Key Responsibilities

• Revenue Management System Support:

o Monitor and review data within revenue management systems (e.g., Duetto, IDeaS), adjusting pricing rules and segments as needed to ensure effective automated yielding and accurate forecasting.

o Provide expert analysis of RMS recommendations, understanding the logic behind price suggestions, and making informed adjustments when required.

o Support and train property managers in using Opera Cloud, RMS Cloud, Protel PMS, or similar systems, ensuring efficient usage across the network.

• Booking Pace & Forecasting:

o Track and review booking pace through pickup reports, regularly analysing trends and querying discrepancies.

o Use historical data, seasonal trends, and budget expectations to conduct monthly forecasts, providing actionable insights to property managers.

o Monitor group bookings and work with hotel managers to ensure timely room reviews, releases, and strategic rate positioning.

• Competitor Intelligence & Market Analysis:

o Utilise tools like STR Global to maintain up-to-date competitive intelligence, benchmarking hotel performance against the comp set.

o Regularly review each property's performance against market standards using STR reports, interpreting data to optimise pricing and strategy.

o Understand key levers and promotional tools from OTAs, ensuring effective partnerships and revenue-driving campaigns across multiple channels.

• Revenue Strategy Development:

o Develop and recommend monthly revenue strategies, guiding property managers on optimal actions beyond standard BAR adjustments.

o Identify and address shortfalls in current revenue tools, suggesting improvements and innovations to enhance productivity and efficiency at group and property levels.

o Collaborate with Sales and Marketing teams, providing data analysis to inform business decisions, upcoming campaigns, and market positioning.

• New Property Integration & Systems Rollouts:

o Collaborate with the Distribution Manager for new property acquisitions, reviewing existing pricing strategies and developing a comprehensive revenue action plan.

o Assist in rolling out PMS systems and other technology integrations, ensuring seamless transitions.

• Industry Engagement & Learning:

o Stay updated with industry developments, attending relevant workshops, conferences, and training from ARMA and other providers.

o Actively participate in knowledge-sharing sessions, bringing new ideas and best practices to the team.

• Annual Budgeting & Planning:

o Engage in annual budgeting, planning, and rate contracting, providing data-driven insights to support financial targets.

o Work with property managers to set up strategic rate structures that align with long-term business goals.

System Knowledge & Technological Proficiency

• PMS & RMS Systems:

o Proficiency in Opera Cloud, RMS Cloud, Protel PMS, or similar property management systems.

o Experience with Duetto and IDeaS revenue management systems is highly preferred.

o Familiarity with STR data and systems for accurate benchmarking and competitive analysis.

• OTA Partnerships:

o Solid understanding of how to utilise OTA platforms effectively, leveraging promotional tools and strategic partnerships to maximise revenue opportunities.

o Experience in navigating rate parity, managing promotional offers, and ensuring optimal distribution across all digital channels.

Organisational Relationship

• Reports To: Myles, Vice President – Sales, Revenue & Distribution

• Collaboration:

o Work closely with Property Managers, Front Office Managers, and the 1834 Hotels Sales, Marketing, and Operations teams.

o Engage with Distribution Managers for seamless system integrations and strategic rate positioning.

o Collaborate with external partners like OTAs and benchmarking services to ensure cohesive revenue strategies.

Extent of Authority

• Initiative & Responsibility:

o Authority to take initiative in all aspects of revenue management, providing strategic recommendations that align with the 1834 Hotels' overall business objectives.

o Responsible for overseeing revenue-related matters, including pricing strategies, rate adjustments, and inventory management, in line with the role's responsibilities.

Performance Skills Standards

• Experience & Expertise:

o Prior experience in hotel revenue management is essential, with a solid understanding of revenue management principles, data analysis, and pricing strategies.

o Strong familiarity with mathematical and analytical tools, with a keen attention to detail.

o Experience with franchise or chain operations (e.g., Accor, Wyndham and Choice Hotels) is advantageous, providing a background in diverse market needs.

• Communication & Collaboration:

o Excellent communication skills, with the ability to build and maintain strong relationships with key partners and managers.

o Strong ability to articulate complex data and revenue insights clearly to senior stakeholders, influencing decision-making.

• Data-Driven Decision Making:

o Extensive experience in data analysis, interpreting trends, and generating reports that drive strategic actions.

o Proficient use of integrated technology platforms to combine internal and external data sources, supporting cohesive revenue strategies.

• Quality & Timeliness:

o Commitment to high-quality, accurate work, with adherence to deadlines and an ability to manage multiple projects simultaneously.

o Continuous improvement mindset, regularly seeking ways to enhance revenue management processes and performance.

Requirements

Here are the top 5 key qualifications and skills that the client is seeking for the Revenue Manager role:

1. Hotel Revenue Management Experience: Proven experience in managing revenue for hotels, with a solid understanding of industry standards and best practices to drive occupancy, ADR, and RevPAR.

2.

1. Expertise in Revenue Management Systems: Hands-on experience with revenue management systems (e.g., Duetto, IDeaS) is highly preferred. Ability to leverage these tools for data analysis, pricing recommendations, and strategic decision-making.

2. Strong Understanding of Revenue Management Principles: Comprehensive knowledge of key revenue management concepts, including yield management, dynamic pricing, forecasting, and competitive positioning.

3. OTA Promotion and Distribution Strategy Experience: Familiarity with Online Travel Agent (OTA) platforms and experience in executing effective promotional campaigns. Understanding of rate parity, strategic partnerships, and how to utilize OTAs to maximize revenue opportunities.

4. Data-Driven Analytical Skills: Proficiency in interpreting complex data, generating reports, and making informed, data-backed recommendations. Ability to combine insights from multiple data sources to develop cohesive revenue strategies.