The main duties and responsibilities of thisrole
Monitor RevPAR index andprovide critical analysis of hotel’s performance. Leadthe Revenue team and work with Sales team in the development oflong and short-term strategies to address any deficiencies and tocontribute to the ongoing growth of RevPAR market share.
Develop and maintain a robust and current knowledge ofthe SBU’s marketplace and competitive environment.Understand the macro and micro-economic variables affecting supplyand demand in the local marketplace, and use this knowledge tocreate accurate operational and financial rooms’ revenueforecasts.
Prepare annual rooms’ revenue budget andco-author with Director of Business Development the SBU’sannual Sales, Marketing and Revenue plan.
Beactively involved in the creation of weekly and monthly forecastsfor catering, F&B and Spa performance and giverecommendations for the optimization of RevPASM, RevPASH andRevPATBH.
Perform unconstrained demandanalysis to determine optimal business mix for SBU. Consideringoptimal and forecasted levels of business from each market segment,work with the Director of Business Development to direct theSBU’s sales efforts accordingly.
Oversee SBU process for evaluating all opportunities forcontracted business (group, wholesale, corporate negotiated, etc.
presented through the Sales department. Ensure that process enableshigh speed of response while maximizing SBU profits. Conductprofitability analysis on specific pieces of potential business aswarranted.
Analyze / evaluate the performance ofcorporate and wholesale negotiated business in relation to discountratios and materialization.
Lead the SBU toadvances in system contribution through optimization of businessmix and the effective and accurate management of theSBU’s rates, inventory and content in all distributionchannels.
Leverage the expertise of the Jumeirah Group’sDistribution Marketing function towards these ends.
Develop and maintain a close relationship with the marketmanager of Third-Party Intermediaries to maximize the opportunitieswith these channels.
Maintain an advancedknowledge of system functions (and corresponding interfaces)related to the generation of rooms revenue for the SBU includingPMS, CRS, RMS and Sales & Catering system and ensure thatthese systems are leveraged to their full capacity in order toenhance ROI for Jumeirah and maximize SBU revenue.
Champion the Revenue Management discipline within theSBU, ensuring that all personnel directly involved in thegeneration of rooms’ revenue understand essential RevenueManagement principles and concepts.
Provide requisite training anddevelopment, contributing to the development of a RevenueManagement culture within the Jumeirah Group.
Chair weekly and monthly Revenue Strategy meetings inorder to formulate and disseminate strategies and tactics. Ensurethat prior decisions are re-visited in this forum in order toevaluate their effectiveness and promote learning.
Conduct price resistance analysis in order to gauge priceelasticity of retail demand. Maintain awareness ofcompetitors’ retail prices and observe their pricingstrategies.
Utilize gained knowledge from above to determineappropriate retail prices on an ongoing basis. Ensure that pricingwithin all non-retail market segments is correspondinglyrationalized against retail rates.
Based onobserved demand patterns, apply appropriate inventory management,pricing strategies or other tactics to ensure that seasonal andday-of-week demand peaks are smoothed and shoulder period revenuesthusly enhanced.
Fully utilize the IDeaS RMSin relation to reporting and yielding capabilities and monitor theforecasting and resulting BAR recommendations closely.
Ensure thatrange of rooms products distributed by SBU,including room types / classes, packages and promotions arescrutinized for strategic intent and rationality before reachingthe marketplace.
Continually monitor the effectiveness of allproducts and their application to particular market circumstances.Lead the SBU revenue team in the revision of existing products andcreation of new products accordingly.
Utilizethe Jumeirah Group’s proprietary Market Intelligenceplatform to conduct critical analysis of SBU revenues and tomonitor progress towards goals on key performance metrics.
Ensurethat key stakeholders in the SBU, including the General Manager andDirector of Business Development, are appropriately familiar withthe capabilities of this platform.
Proliferate use of the platformin order to maximize Jumeirah’s ROI and grow SBU marketshare.
Understand and utilize other MarketIntelligence tools like STR, Hotelligence and Market Vision toformulate appropriate pricing and channel optimizationstrategies.
Work with regional and corporateRevenue Management representatives to identify and capitalize onrevenue generating opportunities for the SBU.
Prepare for and leadproperty diagnostic sessions and standards audits as coordinated bythe regional / corporate function.
Activelydevelop all subordinates, ensuring that they have opportunities togrow their Revenue Management and leadership skill base throughpersonal attention, internal / external training and participation inindustry events.
Create a Revenue Management succession plan inorder to sustain the viability of the discipline for the SBU.Perform annual performance reviews of all direct reports and assistthem to create personal development plans for career growth.
Recruit and retain colleagues that are intent on Revenue Managementas a career path, who through development will become the futureleaders of the discipline for the Jumeirah Group.
Consult with other SBU departments to ensure thatJumeirah Group standards pertaining to the optimization of revenuesare not circumvented, such as procedures for the collection ofno-show and cancellation charges, early departure fees,etc.
Ensure familiarity with and adherence toJumeirah Group Revenue Management standards and guidelinesthroughout the SBU.
Perform other duties thatmanagement may from time to time reasonably require.