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Corporate Director of Revenue Management

Posted February 18, 2021

Magna Hospitality
Warwick, RI
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We are growing....come be a part of our talented revenue team!

About This Job

Magna Hospitality Group is looking for a dynamic and passionate Corporate Director of Revenue Management for our corporate office in Rhode Island. This is an exciting opportunity, as we have changed the culture and process of revenue management for our hotels. We pulled these positions out of the properties and created our own Revenue Performance Center located in the corporate headquarters in Warwick, Rhode Island. We recognize the importance of revenue management and are creating a dynamic TEAM that will be very successful. This is a GREAT opportunity for someone who wants to have a voice and an active role in the creation of our revenue management discipline.


The Corporate Director of Revenue Management maximizes hotel room revenue through daily management of guest room inventory and product pricing for multiple assigned hotels. They will understand the market and competitive business positioning in order to develop each hotel's business strategy integrating both strategic and tactical skills. The Corporate Director of Revenue Management must be strategic and decisive, combining knowledge in ecommerce, sales, marketing and distribution to make the optimal revenue decisions in all channels.


Primary Responsibilities:


  • Manages the guest room inventory through the systems end date for assigned hotels. Manages rates and inventories in all distribution channels to ensure parity.
  • Creates implements and evaluates strategic pricing decision by market segment and channel to maximize room revenues for assigned hotels.
  • Strategically sets group bookings parameters in sales systems (MARs and ceilings) in conjunction with the transient strategies to maximize group room revenue for assigned hotels.
  • Assist in preparation of annual budget and marketing plan.
  • Maintains a complete short-term & long-term awareness of the local market. Track, evaluate and communication business and market trends for assigned hotels to the property team, VP of Revenue Management, and corporate stakeholders.
  • Evaluates the area competitors in regards to pricing, mix of business, brand directives and overall selling initiatives. Monitors competitors pricing and make pricing adjustments accordingly.
  • Evaluates the daily, weekly and monthly STR report to understand the trends of assigned hotels and competition as well as understand the opportunities of hotels for YOY growth. Be able to understand and interpret market conditions, trends, and the competition.
  • Maintain demand generating calendars holidays, special events, city wides, etc.
  • Leads the Weekly Revenue Management Meeting to review performance, selling strategies and market trends for assigned hotels. Completes the Weekly Revenue Management Report to communicate to the hotel the performance results and strategies of assigned hotels.
  • Prepares and analyzes supporting documentation for revenue meeting for assigned hotels inventory, pricing, market shops, forecast, budget, STR, group pace, etc.
  • Ensures all Revenue Management data files are organized and maintained.
  • Ensures actual room revenue statistics for assigned hotels are accurate in Profit Sage, Smith Travel reports and brand systems.
  • Executes all corporate revenue management initiatives for assigned hotels.
  • Work with fellow Corporate DORMs for opportunities to shift demand to sell out all same city hotels.
  • Develops and implement quarterly strategic action plans.
  • Act as a liaison to brand. Utilize in depth knowledge of brand distribution systems, including new marketing and promotional opportunities as they are made available.
  • Develops and maintains partnership with 3rd party business partners. Work with VP of Revenue Management to develop and implement effective strategies to maximize third party, and opaque channel e-commerce demand.
  • Visit hotels competitors minimum of every 6 months to understand hotels strengths and weaknesses against each competitor both from a product and yield strategy perspective.


Requirements:

 

  • 3-5 years minimum experience in hotel Revenue Management position.
  • High School Diploma required.
  • College degree in hospitality or business administration or related field preferred.
  • Strong understanding of CRO, GDS, PMS, SalesPro and Internet distribution systems.
  • Preferred Brand experience.
  • Strong analytical skills required and ability to apply those skills to identify revenue opportunities and shortfalls.
  • Effective communication skills, both verbally and written.
  • Strong interpersonal and problem solving abilities.
  • Ability to work both independently and cross-functionally to achieve goals.
  • Ability to thrive in a multi-tasked and fast-paced environment.
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About this Employer

Magna Hospitality

300 Centerville Road, Suite 300 East
Warwick, RI 02886

Management Company

www.magnahospitality.com

In 1998, we formed Magna in order to create an opportunistic hotel real estate investment firm. As our industry has evolved, we have evolved with it, and we have come to focus our energies on two basic truisms. First and foremost, the most important thing that we do as a firm is hire the right people. This basic principle applies both at the corporate and our property levels. Today, we have over thirty highly motivated, talented, and hard-working corporate professionals that have morphed into a cohesive team that is dedicated to not only Magna’s success, but to each other’s success.

Second, we have embraced the reality that we are a hotel real estate investment firm; and in order to achieve the high level of success that we have enjoyed from an investment perspective, we must have a superior hotel management company.

In our often fickle and cyclical business, the Magna team has demonstrated and continues to demonstrate the most important qualities that a hotel real estate investment firm and a hotel management company must have. We tell our investors what we are going to do and when we are going to do it. Then, through hard work, talent, and integrity, we do what we said we would do, and we do it with a level of consistency that has made Magna a premiere hotel company.

It is with this team of professionals and with this culture that Magna will continue to move forward to improve both the quality of our investments and the manner in which we operate and oversee those investments for our investors.

We welcome you to Magna and we invite you to learn more about us, our team, and the culture that is Magna.