Director of Revenue Management
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Job Number 18002EH0
Job Category Revenue Management
Location The Ritz-Carlton, Shenzhen, Shenzhen, Guangdong VIEW ON MAP
Brand The Ritz-Carlton
Position Type Management
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Responsible for maximizing revenue and profit associated with rooms and function space in participating cluster properties. Position is accountable for preparing forecasts, budgets and projections, as well as pricing, positioning and inventory management. Oversees processes associated with demand, revenue, forecasting, inventory management and opportunity analysis. Works with the sales strategy team to develop the hotel(s)’ sales strategy and ensure implementation. Identifies future revenue opportunities and effectively communicates strategies to the sales organization.
Education and Experience
• 2-year degree from an accredited university in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; 2 years experience in the revenue management, sales and marketing, or related professional area.
• 4-year bachelor's degree in Business Administration, Finance and Accounting, Economics, Hotel and Restaurant Management, or related major; no work experience required.
CORE WORK ACTIVITIES
Analyzing and Reporting Revenue Management Data
• 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 program, write software, set up functions, enter data, or process information.
• Analyzes information and evaluates results to choose the best solution and solve problems.
• Provides revenue strategy and analysis functional expertise and leadership to general managers, property leadership teams and market sales leaders.
• Translates or explains what information means and how it can be used.
• Evaluates effectiveness of property participation in electronic sales channels.
• Analyzes competitive sets, price positioning, seasonality, mix and displacement on a continuous basis.
• Prepares forecasts of revenue, profit, demand and occupancy for rooms and function space – 3-month and 6 month, long range and budget.
• Assists hotels with pricing and provides input on business evaluation recommendations.
• Analyzes period end and other available systems data to identify trends, future need periods and obstacles to achieving goals.
• Generates updates on transient segment each period.
• Works with Market VP, Market GM and GM’s to assist in pricing analyses for all products in Market.
• Assists with account diagnostics process and validates conclusions.
Managing Revenue Management Projects and Strategy
• 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 and revenue 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.
• Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
• Takes a predetermined strategy and drives the execution of that strategy.
• Thinks creatively and practically to develop, execute and implement new business plans.
• Explores opportunities that drive profit, create value for clients, and encourage innovation; challenges existing processes/systems/products to make improvements.
• Manages all revenue, profit and demand data associated with rooms and function space.
• Provides recommendations to improve effectiveness of revenue analysis processes.
• 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 the Business Outlook Strategy.
• Determines sales strategies and communicates to market 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 audio-visual.
• Provides critical input to market leaders for development of property and overall revenue 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, supporting documentation and leads property and/or cluster meetings.
• Conducts sales strategy analysis and refines as appropriate to increase market share for all properties.
• Develops 6-month, 12-month and 2-year strategic action plans for management of cluster transient revenues.
• Manages inventory to maximize cluster rooms revenue.
• Ensures property diagnostic processes (PDP) are used to maximize revenue and profits.
• Initiates, implements and evaluates revenue tests.
Building Successful Relationships
• Provides revenue strategy expertise and leadership to general managers, property leadership teams and market sales leaders.
• Identifies and communicates revenue and profit opportunities to property leadership teams and sales organization.
• Develops and manages internal key stakeholder relationships.
• Provides targeted and timely communication of results, achievements and challenges to the stakeholders.
Managing and Conducting Human Resources Activities
• Interviews and hires employees with the appropriate skills to meet the business needs of the unit.
• Develops, implements and maintains a departmental orientation program for employees to receive the appropriate new hire training to successfully perform their job.
• Utilizes 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.
• Administers bonus and incentive programs.
• Establishes and maintains open, collaborative relationships with employees and ensures employees do the same within the team.
• Solicits feedback, utilizes an “open door” policy and reviews employee satisfaction results to identify and address employee problems and concerns.
• Manages employee progressive discipline procedures for areas of responsibility.
• 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.