Market Director of Revenue Management

JOB SUMMARY

This position works closely with Market Director of Revenue Strategy, General Managers and shared service revenue team to ensure proper strategies are in place to optimize total hotel revenue, including pricing strategy, mix management, inventory management stragies and business evaluation approaches that drive profitable revenue and RevPar Index.

Oversees total hotel(s) revenue management activities and managers within area of purview. Responsible for balancing the financial objectives of different lodging products to maximize total revenues and profit associated with guest rooms and catering space. Position is accountable for pricing, positioning and inventory of all hotel(s) within area of purview. Oversees all processes associated with demand, pricing, revenue, inventory for long range forecasting and opportunity analysis.

Develops and recommends sales strategy for pricing of transient, corporate, wholesale and group segments. Identifies new revenue opportunities and effectively communicates sales strategy and pricing of all key stakeholders. Acts as primary contact and maintains productive relationships with all stakeholders including hotel General Managers, sales leaders, franchisees and owners.

CANDIDATE PROFILE

Education and Experience

• A degree or diploma from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major

OR

• 5 years experiences in revenue management, sales and marketing, or related professional area.

CORE WORK ACTIVITIES

Managing and Executing Revenue Management Projects and Strategy

• Determines sales strategies and communicates to sales leadership, marketing communications teams and property leadership.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate
• Uses reservations systems and demand forecasting systems to determine, implement and control selling strategies
• Manages room and function space authorizations, rates and restrictions
• Establishes and maintains effective and rational pricing strategies for rooms and function space.
• Prepares sales strategy meeting agenda, supporting documentation and leads property and/or cluster meetings.
• Prepares sales strategy critique
• Executes the hotel(s) strategic plan(s).
• Support the annual pricing process for transient, group and catering rooms, function space
• Ensures hotel strategies conform to brand philosophies and initiatives.
• Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
• Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
• Attends meetings to plan, organize, prioritize, coordinate and manage activities and solutions.
• Explores opportunities that drive profit, create value for hotels, and encourage innovation; challenges existing processes/systems/products to make improvements

Analyzing and Reporting Revenue Management Data

• Complies information, analyzes and monitors actual sales against projected sales
• Creates long range forecast for rooms and catering by segment and updates forecast every month
• Creates weekly forecast for property operations and staffing purposes
• Conducts sales strategy analysis and refines as appropriate to increase market share for all properties
• Conduct month end and other available system data to identify trends, future needs and obstacles to achieving goals
• Maintains accurate reservation system information
• Assists with account diagnostics process and validates conclusions
• 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 ad profit
• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts
• Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information
• Generates and provides accurate and timely results in the form of reports, presentations, etc.

Building Successful Relationships

• Communicates corporate initiatives, demand and market analysis to key stakeholders; Owners, General Managers, Hotel leaderships.
• Proactively develops constructive and cooperative working relationships with others, and maintains them over time.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.

Additional Responsibilities

• Ensures associates receive the appropriate new hire training to successfully perform their job.
• Uses all available on the job training tools for employees.
• Communicates performance expectations in accordance with job descriptions for each position and monitors progress.

MANAGEMENT COMPETENCIES

Leadership

• Adaptability - Determines how change impacts self and others; displays flexibility in adjusting priorities; and communicates both the reasons for change and how it impacts the workplace.
• Communication - Customizes approach to conveying complex information and ideas to others in a convincing and engaging manner; appropriately interprets verbal and non-verbal behavior; and models active listening to ensure understanding..
• Problem Solving and Decision Making - Models and coaches others on breaking complex issues into manageable parts, identifying and evaluating alternatives and their implications before making decisions, and involving and gaining agreement from others when making key decisions.
• Professional Demeanor - Exhibits behavioral styles that convey confidence and command respect from others; makes a good first impression and represents the company in alignment with its values.

Managing Execution

• Building and Contributing to Teams - Leads and participates as a member of a team to move the team toward the completion of common goals while fostering cohesion and collaboration among team members.
• Driving for Results - Sets high standards of performance for self and/or others; assumes responsibility for work objectives; initiates, focuses, and monitors the efforts of self and/or others toward the accomplishment goals; proactively takes action and goes beyond what is required.
• Planning and Organizing - Gathers information and resources required to set a plan of action for self and/or others; prioritizes and arranges work requirements for self and/or others to accomplish goals and ensure work is completed.

Building Relationships

• Coworker Relationships - Interacts with others in a way that builds openness, trust, and confidence in the pursuit of organizational goals and lasting relationships.
• Customer Relationships - Develops and sustains relationships based on an understanding of customer needs and actions consistent with the company’s service standards.
• Global Mindset - Supports employees and business partners with diverse styles, abilities, motivations, and/or cultural perspectives; utilizes differences to drive innovation, engagement and enhance business results; and ensures employees are given the opportunity to contribute to their full potential.

Generating Talent and Organizational Capability

• Organizational Capability - Evaluates and adapts the structure of team assignments and work processes to best fit the needs and/or support the goals of an organizational unit.
• Talent Management - Provides guidance and feedback to help individuals develop and strengthen skills and abilities needed to accomplish work objectives.

Learning and Applying Professional Expertise

• Applied Learning - Seeks and makes the most of learning opportunities to improve performance of self and/or others.
• Business Acumen - Understands and utilizes business information to manage everyday operations and generate innovative solutions to approach team, business, and administrative challenges.
• Technical Acumen - Understands and utilizes professional skills and knowledge in a specific functional area to conduct and manage everyday business operations and generate innovative solutions to approach function-specific work challenges

o Revenue Management - Knowledge of revenue management concepts, processes and strategies such as average daily rate, revenue per available room, sales cycles and trends, account management, pricing and inventory management. Skill in using a Yield Management system and interpreting pricing and inventory reports.

o Research - Skill in collecting information from a variety of sources relating to market data, historical cycles, travel and tourism trends, and real estate market dynamics. The ability to know when to seek addition information and where to look to find it.

o Inventory Management - The ability to manage rooms and function space restrictions and thresholds using systems or manually in order to maximize revenue/profit across all segments.

o Computer Skills - The willingness to learn and ability to use computer systems and software packages to input, access, modify, store, or output information or to execute programs and analyses. This includes the ability to enter and retrieve data from computer systems using a keyboard, mouse, or trackball.

o Economics and Finance - Knowledge of economic principles and practices, P&L statements, operating budgets, forecasting and scheduling, and the reporting of financial data.

o Sales and Marketing - Knowledge of sales and marketing concepts including principles and methods for showing, promoting and selling products or services as well as marketing strategies and tactics.

o Analysis - The ability to analyze and summarize detailed data including the creation and maintenance of spreadsheets for storing data.

• Basic Competencies - Fundamental competencies required for accomplishing basic work activities.

o Basic Computer Skills - Uses basic computer hardware and software (e.g., personal computers, word processing software, Internet browsers, etc.).

o Mathematical Reasoning - Demonstrates ability to add, subtract, multiply, or divide quickly, correctly, and in a way that allows one to solve work-related issues.

o Oral Comprehension - Demonstrates ability to listen to and understand information and ideas presented through spoken words and sentences.

o Reading Comprehension - Demonstrates understanding of written sentences and paragraphs in work-related documents.

o Writing - Communicates effectively in writing as appropriate for the needs of the audience.

At Marriott International, we are dedicated to being an equal opportunity employer, welcoming all and providing access to opportunity. We actively foster an environment where the unique backgrounds of our associates are valued and celebrated. Our greatest strength lies in the rich blend of culture, talent, and experiences of our associates. We are committed to non-discrimination on any protected basis, including disability, veteran status, or other basis protected by applicable law.