Revenue Manager, Remote Solutions
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Job Number 180027OS
Job Category Revenue Management
Location Shanghai-Raffles City, Shanghai, Shanghai VIEW ON MAP
Position Type Management
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Responsible for overseeing and coordinating the revenue management functions (pricing, competitive assessments, etc.) and inventory strategy for hotels across all brands. This includes all room segments (transient, group, and contract) as well as catering and function space. Responsible for understanding and communicating various Revenue Management philosophies as they pertain to brand and/or geographic strategies. Communicate and educate the hotels on proper pricing, competitive positioning and restrictions and the impact that they may have on the hotels’ revenue strategies.
BUSINESS CONTEXT / CANDIDATE PROFILE
CORE WORK ACTIVITIES
Executing Revenue Management Projects and Strategy
• Manage room authorizations, rates and restrictions
• Analyze competitive performance through the use of market share tools and make recommendations to the hotel
• Analyze reports and available information to make long term pricing recommendations with brand initiatives as a key focus
• Develop and implement with the General Manager and Sales, strategies that will maintain and/or increase the hotel’s RevPAR
• Utilize Marriott’s revenue management systems and tools to ensure that revenue and profit are maximized
• Conduct Sales Strategy meetings with General Manager and key property staff to educate and evaluate pricing and inventory strategies
• Ensure that the hotel(s) sales strategies are effectively implemented in the inventory systems
• Manages function space authorizations, restrictions and rental.
• Prepares sales strategy critique.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Uses reservations system and demand forecasting systems to determine, implement and control selling strategies.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Ensures compliance and participation in company promotions and eCommerce channels
• Understands the working relationship between sales, reservations and property management systems.
• Determine optimal contract mix and monitor its value to overall property strategy
• Evaluate and execute eChannel/on-line travel agent (OTA) strategy
• Evaluate and execute special events and holiday strategies
• Evaluate trends and execute changes in the group strategy
• Evaluate trends and execute changes related to market share
• Evaluate market level changes and their impact to property strategy
• Complete monthly revenue projections
• Execute promotions, programs, and packages
• Critique property revenue performance
• Execute property strategy conference calls
• Develop and maintain Rate Value Matrix for all key segments
• Manage room authorizations, rates and restrictions
• Evaluate transient segmentation, including demand and booking pace by segment
• Evaluate transient source markets and customer buying behavior for each segment
• Monitor and adjust for optimal mix
• Ensure retail rates are evaluated through One Yield’s Retail Pricing Optimizer and updated based on changes in demand, product, or competitive positioning
• Evaluate premium room type pricing and premium paid occupancy
• Ensure retail price parity is executed across all booking channels
• Execute pricing through High Performance Pricing
• Utilize the Special Corporate Pricing Tool to analyze production, grades, and recommendations to establish account pricing
• Evaluate the Special Corporate segment, including evaluating new accounts and account performance.
• Evaluate the Wholesale segment, including evaluating new accounts and account production
• Collaborate with Sales to complete annual Special Corporate and Wholesale pricing
Building Successful Relationships
• Proactively develops constructive and cooperative working relationships with stakeholders, and maintains them over time.
• Acts as a liaison, when necessary, between property and regional/corporate systems support.
• Informs and/or updates the executives, the peers and the subordinates on relevant information in a timely manner.
Education and Experience
A degree in a relevant business discipline preferred or demonstration of equivalent work experience.
• Adaptability - Maintains performance level under pressure or when experiencing changes or challenges in the workplace.
• Communication - Conveys information and ideas to others in a convincing and engaging manner through a variety of methods.
• Problem Solving and Decision Making - Identifies and understands issues, problems, and opportunities; obtains and compares information from different sources to draw conclusions, develop and evaluate alternatives and solutions, solve problems, and choose a course of action.
• Professional Demeanor - Exhibits behavioral styles that convey confidence and command respect from others; makes a good first impression and represents the company in alignment with its values.
• Building and Contributing to Teams - Actively participates as a member of a team to move the team toward the completion of goals.
• Driving for Results - Sets high standards of performance for self and/or others; assumes responsibility for work objectives; initiates, focuses, and monitors the efforts of self and/or others toward the accomplishment goals; proactively takes action and goes beyond what is required.
• Planning and Organizing - Gathers information and resources required to set a plan of action for self and/or others; prioritizes and arranges work requirements to accomplish goals and ensure work is completed.
• Coworker Relationships - Interacts with others in a way that builds openness, trust, and confidence in the pursuit of organizational goals and lasting relationships.
• Customer Relationships - Develops and sustains relationships based on an understanding of customer needs and actions consistent with the company’s service standards.
• Global Mindset - Supports employees and business partners with diverse styles, abilities, motivations, and/or cultural perspectives; utilizes differences to drive innovation, engagement and enhance business results; and ensures employees are given the opportunity to contribute to their full potential.
Generating Talent and Organizational Capability
• Organizational Capability - Evaluates and adapts the structure of own assignments and suggests improvements to work processes to best fit the needs and/or support the goals of an organizational unit.
• Talent Management - Provides support and feedback to help individuals develop and strengthen skills and abilities needed to accomplish work objectives.
Learning and Applying Personal Expertise
• Applied Learning - Seeks and makes the most of learning opportunities to improve performance of self and/or others.
• Business Acumen - Understands and utilizes business information to manage everyday operations.
• Technical Acumen - Understands and utilizes professional skills and knowledge in a specific functional area to conduct.
o Revenue Management - Knowledge of revenue management concepts, processes and strategies such as average daily rate, revenue per available room, sales cycles and trends, account management, pricing and inventory management. Skill in using a Yield Management system and interpreting pricing and inventory reports.
o Analysis - The ability to analyze and summarize detailed data to make inferences and recommendations. Included is the creation and maintenance of spreadsheets for storing data.
o Research - Skill in collecting information from a variety of sources relating to market data, historical cycles, travel and tourism trends, and real estate market dynamics. The ability to know when to seek addition information and where to look to find it.
o Inventory Management - The ability to manage rooms and function space restrictions and thresholds using systems or manually in order to maximize revenue/profit across all segments.
o Computer Skills - The willingness to learn and ability to use computer systems and software packages to input, access, modify, store, or output information or to execute programs and analyses. This includes the ability to enter and retrieve data from computer systems using a keyboard, mouse, or trackball.
o Economics and Finance - Knowledge of economic principles and practices, P&L statements, operating budgets, forecasting and scheduling, and the reporting of financial data.
o Sales and Marketing - Knowledge of sales and marketing concepts including principles and methods for showing, promoting and selling products or services as well as marketing strategies and tactics.
• Basic Competencies - Fundamental competencies required for accomplishing basic work activities.
o Basic Computer Skills - Uses basic computer hardware and software (e.g., personal computers, word processing software, Internet browsers, etc.).
o Mathematical Reasoning - Demonstrates ability to add, subtract, multiply, or divide quickly, correctly, and in a way that allows one to solve work-related issues.
o Oral Comprehension - Demonstrates ability to listen to and understand information and ideas presented through spoken words and sentences.
o Reading Comprehension - Demonstrates understanding of written sentences and paragraphs in work-related documents.
o Writing - Communicates effectively in writing as appropriate for the needs of the audience.
• Performs other duties as assigned to meet business needs.