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Revenue Manager

Posted May 11, 2022

Hyatt Regency Louisville
Louisville, KY
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About This Job

JOB DESCRIPTION

Job Summary

The role of the Revenue Manager is to identify and maximize all potential revenue opportunities for 1 full service premium select and/or independent branded hotel. This individual will provide direction and support to property teams in the maximization of revenue (RevPAR and RevPAR Index) profit and market share through leadership in the revenue management processes associated with inventory management pricing business opportunity analysis demand projections and revenue forecasting. This role will provide integral support daily to the team for both long-term and short-term goals system reporting and tools and accurate forecasting to maximize the total revenue and profitability for the hotel(s) they support. The position is responsible for data analysis and the development of revenue strategies associated with transient and group market mix and segmentation e-commerce and sleeping room pricing in accordance with the Revenue Management SOPs strategic plan and annual operating plan for the hotel. Exempt associates are expected to work as much of each workday as is necessary to complete their job responsibilities. 

Responsibilities/Preferred Qualifications

QUALIFICATIONS:

  • High school diploma or equivalent is required. 
  • At least 3 years of progressive experience in a hotel or a related field required; or a 4-year college degree in business statistics revenue management or hospitality and at least 1 year of related experience.
  • Knowledge in Microsoft Office Products with a prerequisite in Excel formulating and reporting.
  • Understanding of general hotel operations and the philosophy of yield management.
  • Knowledge of branded or similar PMS system internet and travel websites and industry specific reports including Travelclick and STR desired. 
  • Must be able to work with and understand financial information and data and basic arithmetic functions.
  • Must have the ability to assimilate complex information data etc. from disparate sources and consider adjust or modify to meet the constraints of the particular need.
  • Use critical thinking skills to investigate changes in demand pace production and channel/source contribution to anticipate a response and ensure communication of critical information.
  • Excellent presentation written and verbal communication to convey information and ideas clearly.
  • Strong organizational management and ability of handling multiple responsibilities at any given time
  • Approach all encounters with owners guests and associates in a friendly objective and service-oriented manner.
  • Comply at all times with Aimbridge Hospitality standards and regulations to encourage professional safe and efficient operations.

RESPONSIBILITIES:

  • Set manage and collaborate with GM/DOS to input appropriate yield controls to maximize hotel's revenue from all distribution channels.  
  • Coordinate with the front office team to maximize revenue through effective inventory management upselling and sell-out efficiency
  • Collaborate with Sales and Marketing to provide consultation on strategies for negotiating and booking optimal group and catering business as well as to ensure hotel meeting space is properly utilized to maximize room and food and beverage revenue potential. 
  • Manage brand/third-party channels and relationships by working with OTA market managers on promotions and market exposure; follow up to analyze ROI on any paid placements or marketing programs to ensure the hotel is maximizing revenue. 
  • Clearly relays items/actions discussed during daily/weekly/monthly meetings and distributes meeting notes (and applicable reports) to all appropriate stakeholders in a timely manner; will be required to facilitate meetings as well. 
  • Effectively leverage manage and maintain the applicable Sales & Revenue Management system(s) daily operations forecasting support and reporting in accordance with hotel and brand Revenue Management Standards as applicable.
  • Analyze applicable revenue reports to make Yield Management decisions and update respective inventory and rate information directly through the system(s) when necessary. Perform displacement analysis to support group sales decisions and communicate highlights and/or action plan recommendations to Revenue leadership.
  • Place test calls to ensure accuracy of rate quoting restrictions and selling approach.
  • Ensure accurate preparation and analysis of market segmentation reports production reports source contribution analysis daily pick-up reports and pace summaries. Own the compilation distribution and interpretation of sales and revenue data. 
  • Analyze and review monthly and weekly STR Report results understanding gains or losses of RevPAR Index and applying this knowledge to impact and predict future results and further help develop proactive strategies to gain share against the competition. 
  • Develop monitor and adjust group pricing strategies preferred patterns and need periods where necessary. 
  • Serve as key contact for questions with regard to system use and/or revenue management principles. May provide in-person training as required.
  • Engage in the annual BT pricing process.  Provide data analysis of production trends and pricing guidance to hotels to ensure alignment to annual revenue goals.
  • In partnership with the strategy team execute daily weekly and monthly 30-60-90 day forecast and annual budget.  Contribute to daily weekly and monthly 30-60-90 day forecast and annual budget processes.
  • May participate in the monthly financial review (ownership invited) focused on sales revenue and P&L; level of involvement may vary based on portfolio type.  
  • Represent the hotel by participating in and/or conducting industry functions in the area as applicable.
  • Manage and communicate group cut off dates. 
  • Monitor the status of the hotel throughout the day. Adjust any inventory controls that need to be modified through the applicable Revenue System(s) and communicate to the strategy team. This must occur as frequently as required based on high demand/revenue time frames.
  • Perform Special projects participate on task force and/or committees trainings and other responsibilities as assigned.

Overview - Company

As the global leader in third-party hotel management, our growing portfolio represents over 1,550 hotels in 49 states and 22 countries, from top international lodging brands to luxury hotels, destination resorts and lifestyle hotels. Our associates around the globe are passionate about serving our guests and driving exceptional results, and thrive in a culture where everyone is inspired to be the best. Join a world of possibility with Aimbridge Hospitality. 

Benefits

After an initial waiting period, those hired into full time positions are eligible for a competitive benefits package that includes the following:

  • Now offering Daily Pay! Ask your Recruiter for more details
  • Medical, Dental, and Vision Coverage
  • Short-Term and Long-Term Disability Income
  • Term Life and AD&D Insurance
  • Paid Time Off 
  • Employee Assistance Program
  • 401k Retirement Plan
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About this Employer

Hyatt Regency Louisville

311 South Fourth Street
Louisville, KY 40202

(502) 581-1234

393 Room Hotel

www.hyatt.com

Our Hotel

Travelers can stay in the heart of downtown Louisville at our 4th Street Live hotel and walk to all the top Louisville attractions. Our hotel is conveniently attached to the Kentucky International Convention Center. We have brand new rooms featuring upscale amenities, city views, a sofa, and free WiFi. Hyatt Regency Louisville offers upscale fitness amenities and onsite gym activities for guest comfort and convenience. Accessible by guestroom key, our state-of-the-art hotel gym fitness center located in the lobby level allows each guest an opportunity to enhance their stay and keep active.

  • 393 spacious rooms with beautiful city and river views
  • Free high-speed WiFi internet access (excludes meeting space)
  • Hyatt StayFit® gym with cardio and strength training equipment
  • Business Center
  • Indoor heated swimming pool
  • Louisville Visitors Center adjacent to hotel
  • In the heart of downtown Louisville and adjacent to Fourth Street Live!
  • Under 15 minute drive from: Kentucky’s legendary horse racing venue, University of Louisville, Kentucky Kingdom, and the Kentucky Zoo.
  • 6 miles from Louisville International Airport (SDF)
  • Outdoor tennis court