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Director of Revenue Management

Posted September 21, 2022

The Pierre, A Taj Hotel, New York
New York, NY
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About This Job

Position Summary:

To design and implement proactive and strategic selling strategies and action plans that will support the optimization of hotel profit; have the foresight to manage and encapsulate any unexpected opportunities and threats thereafter.

Essential Job Functions and Responsibilities:

  • Prepare the annual rooms revenue budget
  • Chair the weekly Revenue Strategy meeting to discuss strategies and tactics, which should be structured, recorded, and attended by all senior management of the Revenue team. Work with other Directors of Revenue Management within the company, Corporate Office, and/or Consultants to implement new hotel specific and companywide initiatives
  • Generate daily, weekly, and long-term accurate forecasts with understanding of macro- and micro-economic variables affecting supply and demand in the local marketplace
  • Regular communication of forecast analysis with the Executive Committee, thus clarifying and validating the current constituents and jointly agreeing specific actions that would facilitate realization of forecast
  • Reporting and comparison of actualized production to forecast, recording all factors which have influenced any variances, subsequent re-forecasting, and communicating the relevant strategies in place
  • Monitor RevPAR index on STR reports and provide critical analysis of performance on weekly and monthly basis.
  • Complete month end reports with detailed analysis. Hold monthly calls with the Corporate Office to review performance. If necessary, complete action plans to create additional production/revenue.
  • Analyze booking patterns and market trends through use of revenue management systems and decision support tools
  • Set the hotel pricing strategy by market segment based on market intelligence, buying patterns, and pre-determined seasonality.
  • Responsible for the daily room inventory management
  • Continuously manipulate availability and rates, thus allowing maximum flexibility to capture various buying patterns, while ensuring the optimization of RevPAR
  • Monitor competitor rates, positioning, strategies and data.
  • Maintain rate parity across all websites and channels. Investigate and resolve any rate disparities with urgency. Utilize test bookings to discover undercutting by wholesale partners.
  • Ensure future strategies are aimed at the optimum business mix to maximize RevPAR
  • Ensure optimal use, correct content and pricing, and measure performance on all distribution channels, and ensure that fair market share is achieved if not exceeded (e.g., CRS, GDS, website, wholesalers, third-party OTAs, Reservations Office etc.)
  • Maintain historical statistical data from all distribution channels, in all market segments, and subsequently produce a calendar of events required for revenue and pricing decisions
  • Develop and maintain close relationships with the market managers of Third Party partners/OTAs to maximize opportunities within these channels.
  • Assist the sales team with performance analysis of negotiated accounts, thus enabling a viable and market-driven pricing proposal for renewals
  • Understand the dynamics of the global, national, regional, and local economic and political market, and all demand generators
  • Provides oversight in hotel budgeting, forecasting, and business planning for the rooms division, and assists with labor forecasting and new initiatives in other revenue streams
  • Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
  • Review and ensure reporting and analytics on the hotel website
  • Liaise with Sales & Marketing to ensure promotions /programs are fully understood and are directed to the correct business segment. Asses the production, ROI, and success of all promotions
  • Assist the sales team in devising marketing campaigns to ensure the hotel reaches the right people at the right time, in the right place
  • Conduct displacement analysis for all Groups and Catering business to optimize total hotel revenues
  • Manage and communicate group cut off dates. Compare pick up to block numbers, cut off dates, whether to extend or not, etc.
  • Introduce incremental revenue generators to maximize overall hotel revenue, i.e. supplemental and seasonal strategies, base business (Group/Conference & Banqueting/allotment) etc.
  • Reward generation of incremental revenue by predefined and measurable programs (i.e. upselling, monthly target, realization bonus, etc.)
  • Ensure integrity of source and nationality statistics  and prompt delivery Corporate office
  • Ensure all lost, denied, and canceled business is recorded and reviewed relative to results achieved and future leads identified
  • Develop and maintain relationships with other Revenue Directors in the market to create a network of community peers

Job Requirements:

  • A minimum of 5 years of revenue management
  • Strong analytical skills. Ability to analyze relevant data and use it to draw inferences that impact room revenue
  • In-depth knowledge of all Revenue Management reporting, such as STR, Agency 360, Demand 360, CBRE, etc.
  • Advanced Microsoft Excel skills
  • Self-driven with a high level of attention to detail and ability to work independently
  • Ability to work quickly in a high-pressure and high-stress environment
  • Excellent time management skills
  • Comprehension of the reservations sales process.
  • Ability to lead, work alongside, and/or develop Revenue Management consultants with varying levels of experience
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About this Employer

The Pierre, A Taj Hotel, New York

2 East 61st Street at 5th Avenue
New York, NY 10065

Telephone (212) 838-8000
Reservations (212) 838-8000

189 Room Hotel

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Careers with The Pierre, A Taj Hotel, New York

The Pierre, A Taj Hotel, New York continues to set the standard for elegant, unrivaled hospitality in New York City. Its 189 rooms, 49 of which are suites, and superb location on Fifth Avenue steps from Central Park, and within immediate proximity to upscale boutiques and Manhattan's famed Museum Mile, make it a much coveted Upper East Side location. An exclusive Forbes Travel Guide Five-Star and AAA Five Diamond property and a member of Leading Hotels of the World, The Pierre has also been named one of Condé Nast Traveler's"Top 25 Hotels in New York City 2014" and among the "Top Large City Hotels in the United States by Travel + Leisure's 2014 and 2015 World's Best Awards."

Managed by Taj Hotels Resorts and Palaces, The Pierre offers artful and highly personalized service, exemplified by white-gloved elevator attendants, and an expertly trained Guest Relations team who treat guests as royalty.

We are always interested in hearing from those who share our passion for delivering an exceptional guest experience.