Market Director of Revenue Strategy
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Job Number 18000F6Y
Job Category Revenue Management
Location Renaissance Kuala Lumpur Hotel, Kuala Lumpur, Wilayah Persekutuan VIEW ON MAP
Brand Renaissance Hotels
Position Type Management
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The Market Director of Revenue Strategy as the business leader of the Revenue Management Remote team and has overall responsibility for maximizing revenue and profit associated with hotels participating in the Cluster. Position is accountable for recommendations on pricing, positioning and inventory management of Cluster hotels. Oversees all the processes associated with demand, revenue, forecasting, strategy development and execution. The position will maintain productive relationships with all stakeholders including hotel GM’s, sales leaders, franchisees, owners and the area team. The incumbent will have overall responsibility for the effectiveness, quality, and productivity of the office from a Revenue Management and operations perspective. The Director will work through the functional leads to lead, motivate, and direct associates and enable effective business processes.
Education and Experience
A degree in a relevant business discipline preferred or demonstration of equivalent work experience.
CORE WORK ACTIVITIES
Managing Revenue Management Projects and Strategy
• Provides market strategy expertise and leadership to general managers, property leadership teams and sales leaders.
• Determines sales strategies and communicates to sales leadership, marketing communications teams and property leadership.
• Establishes and maintains effective and rational pricing strategies for rooms and function space.
• Develops and executes the hotel(s) strategic plan(s).
• Oversees the annual pricing process for transient, group and catering rooms, function space and (not yet)
• Provides critical input to market leaders for development of property and overall market sales strategy.
• Ensures hotel strategies conform to brand philosophies and initiatives.
• Ensures that sales strategies and rate restrictions are communicated, implemented and modified as market conditions fluctuate.
• Prepares sales strategy meeting agenda, oversees preparation of supporting documentation and leads property and/or cluster meetings.
• Utilizes interpersonal and communication skills to lead, influence, and encourage others; advocates sound financial/business decision making; demonstrates honesty/integrity; leads by example.
• Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
• Updates market knowledge and aligns strategies and approaches accordingly.
• Establishes long-range objectives and specifies the strategies and actions to achieve them.
• Works closely with Sales and Marketing for business opportunities, aims to increase profitability of the organization.
• Takes a predetermined strategy and drives the execution of that strategy.
• Thinks creatively and practically to develop, execute and implement new business plans.
• Attends meetings to plan, organize, prioritize, coordinate and manage activities and solutions.
• Develops specific goals and plans to prioritize, organize, and accomplish your work.
• Develops 6-month, 12-month and 2-year strategic action plans for management of cluster room and catering revenues.
• Manages inventory to maximize cluster profit.
• Performs regular quality checks to ensure strategies are implemented correctly and producing desired results, ensuring any gaps are identified and addressed.
• Ensure stakeholders and team members understand and adhere to core deliverable commitments.
Analyzing and Reporting Revenue Management Data
• Analyzes competitive sets, price positioning, seasonality, mix and displacement on a continuous basis.
• Conducts sales strategy analysis and refines strategies as appropriate to increase market share for all properties.
• Assists hotels with pricing and provides input on business evaluation recommendations.
• Analyzes data to identify trends, future need periods and obstacles to achieving goals.
• Generates updates on transient segment.
• Works with GM’s and Sales to assist in pricing analyses for all products in Market.
• Compiles information, analyzes and monitors actual sales against projected sales.
• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Uses computers and computer systems (including hardware and software) to, set up functions, enter data, or process information.
• Analyzes information and evaluates results to choose the best solution and solve problems.
• Translates or explains what information means and how it can be used.
• Evaluates effectiveness of property participation in electronic sales channels.
• Assists with account diagnostics process and validates conclusions.
Managing and Conducting Human Resources Activities
• Interviews and hires employees with the appropriate skills to meet the business needs of the units.
• Develops, implements and maintains a departmental orientation program for employees to receive the appropriate new hire training to successfully perform their job.
• Uses all available on the job training tools for employees.
• Communicates performance expectations in accordance with job descriptions for each position and monitors progress.
• Conducts employee performance appraisals according to Standard Operating Procedures.
• Establishes and maintains open, collaborative relationships with employees and ensures employees do the same within the team.
• Solicits feedback and reviews employee satisfaction results to identify and address employee problems and concerns.
• Ensures regular on-going communication is happening in all areas of responsibility to create awareness of business objectives and communicate expectations, recognize performance and produce desired business results.
Building Successful Relationships
• Develops and manages internal key stakeholder relationships.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.
• Informs and/or updates the executives, the peers and the subordinates on relevant information in a timely manner.
• Identifies and communicates revenue and profit opportunities to property leadership teams and sales organization.