Revenue Manager 1

$78,000 - $103,000/Yr

Ritz-Carlton - Kapalua, HI

Full-time - Mid Level

Kapalua, HI

51-100 employees

Accommodation

About the position

The Revenue Manager is responsible for managing room and function space inventory to maximize revenue and profits for hotels in the market. This role involves building rates, packages, and sales strategies, conducting revenue analysis, and making pricing recommendations. The position also contributes to forecasts, budgets, and projections while critiquing sales strategies and preparing analyses of revenue opportunities.

Responsibilities

• Manages room authorizations, rates, and restrictions.
• Manages function space authorizations, restrictions, and rental.
• Manages rooms inventory to maximize cluster rooms revenue.
• Maintains the transient rooms inventory for the hotel(s) and is responsible for maximizing transient revenue.
• Releases group rooms back into general inventory and ensures clean booking windows for customers.
• Ensures that the hotel(s) sales strategies are effectively implemented in the reservation system and the inventory system.
• Prepares sales strategy critique.
• Monitors transient and group inventory daily to ensure straight-line availability and maximization of revenue potential for all brands.
• Ensures that sales strategies and rate restrictions are communicated, implemented, and modified as market conditions fluctuate.
• Supports cluster selling initiatives by working with all reservation centers.
• Uses reservations system and demand forecasting systems to determine, implement, and control selling strategies.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Initiates, implements, and evaluates revenue tests.
• Ensures compliance and participation in company promotions and eCommerce channels.
• Ensures all hotels follow brand strategies that will maintain and/or increase the hotel(s) revenue per available room (RevPAR) and revenue per available square foot (RevPAS).
• Understands the working relationship between sales, reservations, and property management systems.
• Participates in quarterly regional reviews.
• Promotes and protects brand equity.
• Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
• Attends meetings to plan, organize, prioritize, coordinate, and manage activities and solutions.
• Establishes long-range objectives and specifies the strategies and actions to achieve them.
• Demonstrates knowledge of job-relevant issues, products, systems, and processes.
• Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
• Explores opportunities that drive profit, create value for clients, and encourage innovation; challenges existing processes/systems/products to make improvements.
• Compiles information, analyzes, and monitors actual sales against projected sales.
• Creates long-range forecast for rooms and catering by segment and updates forecast every period.
• Creates weekly forecast for property operations and staffing purposes.
• Conducts sales strategy analysis and refines as appropriate to increase market share for all properties.
• Maintains accurate reservation system information.
• Analyzes period end and other available systems data to identify trends, future need periods, and obstacles to achieving goals.
• Generates updates on transient segment each period.
• Assists with account diagnostics process and validates conclusions.
• Provides revenue analysis functional expertise to general managers, property leadership teams, and market sales leaders.
• Prepares forecasts of revenue, profit, demand, and occupancy for rooms and function space - three-month and six-month, long range and budget.
• Prepares revenue and profit opportunity analysis.
• Manages all revenue, profit, and demand data associated with rooms and function space.
• Develops and/or uses analytical tools and systems to maximize revenues and profit.
• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Analyzes information and evaluates results to choose the best solution and solve problems.
• Generates and provides accurate and timely results in the form of reports, presentations, etc.
• Develops and manages internal key stakeholder relationships in a proactive manner.
• Acts as a liaison, when necessary, between property and regional/corporate systems support.

Requirements

• 2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 3 years experience in revenue management, sales and marketing, or related professional area.
• OR 4-year bachelor's degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 1 year experience in revenue management, sales and marketing, or related professional area.

Benefits

• Bonus program
• Comprehensive health care benefits
• 401(k) plan with up to 5% company match
• Employee stock purchase plan at 15% discount
• Accrued paid time off (including sick leave where applicable)
• Life insurance
• Group disability insurance
• Travel discounts
• Adoption assistance
• Paid parental leave
• Health savings account (except for positions based out of or performed in Hawaii)
• Flexible spending accounts
• Tuition assistance
• Pre-tax commuter benefits
• Other life and work wellness benefits
• Stock awards and deferred compensation plans