Job description

Director of Revenue Management
SCOPE
Improve any revenue stream by selling the right mix of products & services, at the right price, at the right time, to the right customer, at the right customer touch point, using the right distribution network. We strive to balance the needs of all stakeholders by hiring and retaining the most passionate, experienced and entrepreneurial talents.

OVERALL OBJECTIVES
Responsible for maximizing overall revenue through development and implementation of effective inventory and pricing strategies based on demand and competitor analysis in order to gain market share.
The job of Director of Revenue Management is executed satisfactorily when the employee:

• Drives Market Share and Revenue Performance.
• Develops overall pricing strategy to include all market segments and distribution channels.
• Effectively manages and is in control of all inventory.
• Is responsible for effective implementation and compliance with Kempinski Revenue Management Standards and initiatives.
• Ensures all OTA, content, reputation and distribution channels are optimized.
• Shares best Revenue Management practices and key learnings with peers and management.
• Plays a leader role on the property’s weekly Revenue Management & Operations meetings.
• Produces accurate forecasts on weekly and monthly basis (+/-5%).
• Recruits, trains and mentors the Reservations Manager (when applicable) and/or a strong second with a view to contingency.
• Assists in developing a career path for direct reports.

• They actively support and implement Talent Development initiatives as a part of their daily activities.
• They identify Training talents in their department and throughout the hotels as per below definition* and actively support their career development.
• They support and initiate transfer, cross exposure and task force assignments for their team.
• They personally conduct performance reviews with their team on a regular basis and take personal interest for their talents’ development plans.
• They recruit and select potential talent according to the Company’s current and future hotel, regional and worldwide needs including conducting interviews for positions in their department and their region.

• Drive Market Share and Revenue Performance through proper pricing and mix management using competitive reports.
  • Closely monitor competitive pricing and understand the impact of pricing decisions on property performance.
• Develop overall pricing strategy to include all market segments and distribution channels.
  • Provide guidance on corporate transient, group & wholesale pricing.
  • Ensure effective pricing strategies to reflect asset strength relative to the competition.
  • Ensure compliance to the Best Rate Guarantee.
• Effectively manage and be in control of all inventory (transient, group, wholesale allotments and other) and pricing strategy in all distribution channels including branded web, 3rd party sites and the GDS.
• Responsible for effective implementation and compliance with Kempinski Revenue Management Standards.
  • Maintain accuracy and timely entry of all relevant data in systems.
  • Review and analyze data on an ongoing basis.
• Pro-actively identify need periods and prepare a need period plan, in cooperation with hotel Sales & Marketing, & Corporate/Regional resources.
• Ensure all distribution channels are returning appropriate availability and pricing for the following 365 days.
• Ensure that the department number 2 is fully able to complete the forecast, run a Revenue meeting, manage all daily tasks, and can manage all aspects of reservations (cut off dates, rooming lists, guest complaints).
• Complete understanding and effective execution of current and new Revenue Management tools, including IDEAS, EZ Yield, Opera, and any new/similar tools or reports developed in 2010 and onwards.
• Compliance to Kempinski standards for Rate Plans, Rate Categories, Market Segments, Profiles and all other PMS related Revenue Management functionalities.
• Clearly communicate to hotel team the strategic vision and objectives on how to drive revenue and improve performance.
• Ensure hotel team members understand the concept of Revenue Management and their role.
• Educate the Sales team on the effective use of IDEAS and Opera to improve profitability of group bookings (when applicable).
• Share best practices and key learnings with peers and management.
• Identify and communicate to either Regional or Corporate Revenue Management team in addition to appropriate technical support: Bugs/enhancements affecting Revenue Management from all RM tools, including PMS, IDeaS, Channel Reports, and branded websites.
• Lead the property’s weekly Revenue Management meeting and contribute to the Daily Operations Meeting.
• Provide Executive Committee with regular Revenue Management updates.
• Hold a strong leadership role in the Monthly Forecasting Meetings.
• Produce accurate forecast on weekly and monthly basis (+/-5%).
• Produce all relevant components pertaining to Revenue Management Budget.
• Recruit, train and mentor the Reservations Manager (when applicable) and/or a strong second with a view to contingency.
• Assist in developing a career path for direct reports.
• Attend all WebEx sessions organized by Corporate. (Unless valid business reasons)
• Acknowledge receipt of any email request within a maximum of 48hours.