Compensation Type: Yearly
Company Overview: Highgate is a leading real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in major U.S. gateway cities including New York, Boston, Miami, San Francisco, and Honolulu, with a growing Caribbean and Latin America footprint. The hospitality-forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with contemporary programming and digital acumen.
Job Overview: The Director of Revenue Management is responsible for identifying and maximizing all potential revenue opportunities for the hotel. Understanding channel and yield management is critical for maximizing revenues. This role involves formulating long and short-term Revenue Management strategies and overseeing their successful execution towards the advancement of RevPAR market share.
Responsibilities:
- Establish hotel pricing levels in all segments and all room types.
- Responsible for the daily room inventory management process and daily pricing process.
- Monitor competitor rates, positioning, strategies, and data; maintain understanding of the dynamics of the local market and demand generators and present appropriate action plans to management.
- Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
- Analyze local events and activities and project the effect of opportunities they create.
- Understand the macro and micro-economic variables affecting supply and demand in the local marketplace and use this knowledge to create accurate operational and financial room revenue forecasts.
- Perform unconstrained demand analysis to determine optimal business mix.
- Responsible for all short and long-term forecasts including Weekly Forecasts, 30 60 90 Forecasts, In the month forecasts, and Full year forecasts.
- Oversee process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department.
- Responsible for the maintenance of any software programs which contribute to the management of rooms revenue, including the CRS, RMS, PMS, and Sales & Catering system.
- Monitor RevPAR index on STR report and provide critical analysis of performance on a weekly and monthly basis.
- Prepare annual Rooms revenue budget.
- Chair weekly Revenue Strategy meetings to formulate and disseminate strategies and tactics.
- Prepare and present monthly and/or quarterly presentations to ownership.
- Ensure all distribution channels have correct content and pricing.
- Develop and maintain a close relationship with the market manager of all OTAs.
- Develop and maintain relationships with other market Directors of Revenue.
- Actively develop all subordinates, ensuring that they have opportunities to grow their Revenue Management and leadership skill base.
- Responsible for Digital Marketing such as pay-per-click campaigns, email blasts, GDS advertising, etc.
- Establish and communicate sales strategy for day, week, month, and rolling 12 months.
- Analyze prior night successes and address opportunities in Highgate Hotel Business Review (HHBR) morning meeting.
- Manage and communicate group cut-off dates and verify pick-up to actual block and cut-off dates.
- Ensure accuracy from the daily Flash Report.
- Complete all required month-end reports with detailed analysis.
- Review Agency 360 reports for trends, booking windows, and sources of business.
- Review volume account production with Transient Sales Manager and Director of Sales.
- Maintain a warm and friendly demeanor at all times.
- Communicate effectively with all levels of employees and guests.
- Must be able to multitask and prioritize departmental functions to meet deadlines.
- Attend all hotel-required meetings and trainings.
- Maintain regular attendance in compliance with Highgate Hotel Standards.
- Comply with Highgate Hotel Standards and regulations.
- Maximize efforts towards productivity and assist in implementing solutions.
- Handle problems effectively, including anticipating and solving issues as necessary.
- Maintain confidentiality of information.
- Perform other duties as requested by management.
Qualifications:
- Minimum of 4 years experience in the Revenue Management field.
- Bachelor’s Degree.
- In-depth knowledge of all industry reports such as STR, Agency 360, Demand 360, OTA Insights, etc.
- Proficient in Microsoft Excel, Word, PowerPoint.
- Ability to work quickly in a high-pressure and high-stress environment.
- Excellent time management skills.
- Exceptional attention to detail and follow-up.
- Flexible; long hours sometimes required.
Salary Range: $120,000 - $130,000/year
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