Revenue Manager

This is a remote position.

Position Objectives:

The Revenue Manager role focuses on yield and revenue management across a group of hotels, offering hands-on support, analysis, and strategic recommendations to property managers to maximize revenue performance. The role requires proficiency in advanced revenue management systems to facilitate automated rate adjustments, forecasting, and reporting, alongside a strong foundation in traditional revenue management practices. Additionally, the Revenue Manager will manage OTA (Online Travel Agent) relationships, utilize promotional tools, and work with various departments to implement integrated revenue strategies.

Key Responsibilities:

Revenue Management System Support:

• Monitor and adjust data within revenue management systems (e.g., Duetto, IDeaS) for optimal pricing and forecasting.
• Analyze and make informed adjustments to pricing recommendations, ensuring accurate automated yielding.
• Train property managers on systems like Opera Cloud, RMS Cloud, and Protel PMS for consistent use across the network.

Booking Pace & Forecasting:

• Review booking pace through pickup reports, identifying trends and resolving discrepancies.
• Use historical data, seasonal trends, and budget expectations for monthly forecasting, providing actionable insights to property managers.
• Coordinate with hotel managers on group bookings to ensure timely reviews, room releases, and strategic rate positioning.

Competitor Intelligence & Market Analysis:

• Utilize STR Global and other tools to maintain competitive intelligence, benchmarking each property’s performance against market standards.
• Review and interpret STR data to optimize pricing and revenue strategies.
• Manage OTA partnerships, utilizing promotional tools to drive revenue and optimize multi-channel campaigns.

Revenue Strategy Development:

• Develop monthly revenue strategies, guiding property managers on optimal actions beyond basic rate adjustments.
• Identify opportunities to improve revenue tools and propose innovations to enhance group and property-level productivity.
• Collaborate with Sales and Marketing teams, providing data insights for business decisions and upcoming campaigns.

New Property Integration & Systems Rollouts:

• Work with the Distribution Manager on new property acquisitions, reviewing pricing strategies and creating revenue action plans.
• Support the rollout of PMS systems and technology integrations, ensuring smooth transitions for new properties.

Industry Engagement & Learning:

• Stay updated on industry trends, attending workshops and training to bring best practices to the team.
• Participate in knowledge-sharing sessions, fostering continuous improvement.

Annual Budgeting & Planning:

• Contribute to annual budgeting, planning, and rate contracting, delivering insights that support financial targets.
• Work with property managers to establish strategic rate structures aligned with long-term business goals.

System Knowledge & Technological Proficiency:

PMS & RMS Systems:

• Proficient in Opera Cloud, RMS Cloud, Protel PMS, or similar systems.
• Preferred experience with Duetto and IDeaS for revenue management, pricing, and data analysis.
• Familiarity with STR for benchmarking and competitive analysis.

OTA Partnerships:

• Strong understanding of OTA platforms, including promotional tools and strategic partnerships to maximize revenue.
• Experience with rate parity, promotional management, and distribution across digital channels.

Organizational Relationships:

Reports To:Vice President – Sales, Revenue & Distribution

Collaboration:

• Engage with Property Managers, Front Office Managers, and Sales, Marketing, and Operations teams.
• Work alongside Distribution Managers for strategic rate positioning and system integration.
• Partner with OTAs and benchmarking services for cohesive revenue strategies.
• Originally posted on Himalayas