Regional Revenue Manager

Job summary:

The Regional Revenue Manager is responsible for identifying and maximizing all potential revenue opportunities for the hotels they manage. In today's lodging environment, understanding channel and yield management is critical for maximizing revenues. The Regional 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. 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.

Shift requirements:

Primarily day shifts Monday-Friday with flexibility for evening/weekend shifts as needed

Responsibilities

• Chair weekly Revenue Strategy meetings in order to formulate and disseminate strategies and tactics. Ensure that prior decisions are re-visited in this forum in order to evaluate their effectiveness and promote learning.
• Accurately prepare Monthly and Weekly Forecasts (Day by Day) for all transient segments, group (based on feedback from Sales/Conference Services.)
• Participate in the preparations of the transient and group rooms budgets, with the input of sales and contribute to the development of the transient and group portion of the hotels marketing plan
• Proactively provide data to the team for the purpose of analyzing and evaluating specific business segments, specific accounts, market segment mix (Group vs Transient and its sub-segments), room type demand, channel production and geographical mix, recognizing trends and patterns
• Proactively analyze and communicate business trends and booking pace to revenue team in comparison to the market, last year, forecast and budget
• Continually analyze transient demand, price sensitivity and booking patterns, recognize trends and their relevance to one another and provide pricing, inventory and selling strategy recommendations
• Regularly share and discuss analytical findings and strategies with the Corporate Director of Revenue Strategy
• Assist in providing recommendations for Corporate and Leisure account strategies based on past production and future expectations
• Assist in creating all short and long-term forecasts including Weekly Forecasts, 30 60 90 Forecasts, In the month forecasts, and Full year forecasts.
• Maintain accurate package and promotion information on all corporate and property websites
• Evaluate Weekly and Monthly Market Share reports to understand trends and opportunities vs. competitive set and the market as a whole and ensure targeted relative RevPar positioning is achieved
• Train relevant team members on key areas of revenue and yield management
• Communicate the hotels selling strategies effectively to Sales & Marketing colleagues
• Effectively use systems (PMS, CRS, RMS) to determine, implement, manage and control accurate and agreed upon selling strategies
• Effectively collaborate with Sales and Marketing in driving digital marketing and sales initiatives
• Perform unconstrained demand analysis to determine optimal business mix.
• Develop and maintain a close relationship with the market manager of Third-Party Intermediaries to maximize the opportunities with these channels.
• Develop and maintain relationships with other market revenue managers and Directors of Revenue to create a network of peers in your community
• Ensure all distribution channels have correct content and pricing
• Complete all required month end reports with detailed analysis. If necessary, complete action plans for the property to follow to create additional production/revenue
• Monitor competitor rates, positioning, strategy, and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management
• Monitor RevPAR index on STR report and provide critical analysis of performance on weekly and monthly basis
• Continually monitor all pertinent travel related websites to ensure competitiveness in both availability and price
• Conduct ongoing competitor price and product analyses to ensure proper rate positioning and product offering relative to competition.
• Establish and communicate sales strategy for day, week, month and rolling 12 months
• Partnering with the Corp Director of Revenue to create goals for appropriate group ceilings, market mix and segmentation by hotel and to ensure pricing is appropriate, adjusting selling strategies as needed
• Manage the OTA strategy through monthly market reviews and media investments
• Conduct OTA audits to ensure accurate information is being displayed across all channels and to maximize content scores
• Responds quickly to guest requests in a friendly manner
• Follows up to ensure guest satisfaction
• Always provides a professional image through appearance and dress
• Responsible for understanding and adhering to attendance guidelines outlined in the employee handbook
• Expected to report to work on scheduled days and at scheduled times
• Follows company policies and procedures and can effectively communicate them to subordinates
• Ensures the hotel complies with all federal, state, and local laws, including OSHA EEOC Wage Hour and Health laws.
• Performs other related duties as assigned

• Job Requirements:
• Valencia Hotel Group measures success in the standards: Revenue Generation, Financial Management, Client Relations, Quality Management, Professionalism/Communication, Leadership & Managerial Skills, Safety and Security, and Self-development.
• Revenue Generation:
• Standard: Achieves or exceeds hotel and individual department revenue goals. Identifies revenue opportunities and contributes to the hotel's operating strategy to optimize profitability.
• Financial Management:
• Standard: Identifies expense management methods by reducing, maintaining, or controlling costs while providing maximum value to the hotel, team members, and customers. Measures the ROI for projects or expenses, ensuring an acceptable level of value for the company. Analyzes financial and operating information on an ongoing basis to adjust labor and operating costs. Responsible for maintaining accurate checkbooks, inventories, and payroll management. Ensures internal audits, loss control, preventative maintenance, and inventory standard operating procedures are consistent. Prepares timely, well-planned annual budgets and forecasts that accurately reflect the hotel's business plans.
• Client Relations:
• Standard: Involved in the community through active participation in philanthropy, organizations, and/or nonprofits. Professional, cordial, and approachable when handling complaints and criticism.
• Quality Management:
• Standard: Guest Experience Area - Clearly understands and upholds brand and company compliance requirements for guest service scores. Works with the team members to ensure continuous improvement in service scores and social media reviews. Consistently achieves high quality assurance scores in the top and strives for national and local award recognition for the hotel and the outlets.
• Professionalism/Communication:
• Standard: Uses Emotional Quotient to clearly understand and communicate the team's mission, business goals, and requirements for a successful outcome. Listens attentively and responds thoughtfully to employees' and guests' needs, goals, and aspirations. Discusses business issues and employee concerns in a positive manner to encourage employee input and participation. Inspires others towards business vision and goals. Uses positivity to encourage peak productivity, innovation, and active participation. Leads by example and follows through on commitments. Assumes personal responsibility for being on time for work, regular attendance, and maintaining a professional appearance.
• Leadership Managerial Skills:
• Standard: Works closely with employee relations and development of staff, including working with human resources on the recruiting, selection, orientation, and training to ensure each new associate fits the Valencia Hotel Group culture. Fosters a positive, fun, and cooperative working environment to encourage lower turnover. Embraces teamwork, objective feedback, and encouragement to empower associates. Respects each team member's unique ability to contribute to the department's success. Builds trust and finds ways to preserve group morale yet achieve business objectives. Identifies and abates reasons for turnover. Ensures development plans are written and executed in a timely fashion.
• Safety and Security:
• Standard: Takes serious responsibility for the safety and security of guests, team members, and the asset. Knowledgeable and in compliance with all safety and security requirements by the franchise, management company, health department, fire department, state innkeeper laws, and OSHA. Attends monthly safety meetings and has appropriate follow-up and documentation on file. Responds quickly to safety hazards identified.
• Self-development:
• Standard: Takes responsibility for the self-development of themselves and their staff. Encourages and participates in cross-training opportunities within the company throughout the year. Attends relevant webinars, courses, and organizations throughout the year to keep abreast of the current trends within the industry.