Job Description
The Director of Revenue is responsible for working with the Revenue Management team in determining strategic goals and tactical efforts, which drive revenue to the hotel. The Director of Revenue is responsible for ensuring that the inventory allocation and pricing parameters are positioned to support the overall revenue goals of the hotel. This role serves as the objective decision maker that ensures the best interest of profitability is served in the overall hotel as well as ensuring the integrity of rates and long-term customer investment.
How your day looks like:
- Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance. Performs competitor checks and reports as appropriate.
- Leads the fortnightly revenue meetings.
- Provides analysis of demand factors, competitive positioning and future outlook and trends.
- Prepares Daily, Weekly, and Monthly Revenue reports to include production, trends, booking patterns as well as channel analysis.
- Develops fundamentals and provides guidelines to maximize revenues related to the sale of catering events, function space and all other revenue streams at the Hotel.
- Ensures that the revenue plan is updated on a daily basis, balancing all figures with the PMS and ensuring that all data input into the system is accurate – Geo source, Product quality and pricing.
- Actively manages the Hotel’s revenue system.
- Monitors transient and group production to ensure that an optimal mix is maintained and evaluates group booking requests to ensure that the Hotel is not displacing higher yielding revenue.
- Analyzes the impact of the revenue management strategy being implemented by the Mondrian Singapore team and advises relevant changes as when needed.
- Ensures that the Hotels' position in the GDS and other distribution channels is consistent with the Hotels' Selling Strategies, includes conducting rate and availability audits, and that rate parity is maintained across all channels.
- Ensures that all rate plans are built in accordance with established Mondrian Singapore guidelines.
- Works with Director of Sales and Director of Marketing to determine effective and engaging rate offers (packages) which are then offered in to the right customer in the right channel.
- Works with Director of Sales and Sales Team members to encourage strategic selection of the right piece of business.
- Responsible for developing, training, and providing guidance to the Revenue Analyst/Distribution Executive/ Reservations Team through day to day management.
- Participates in all Revenue conference calls with Corporate.
- Assists in managing relationships with third party online intermediaries especially OTA’s and Regional Travel Agents.
- Produce and analyze current and historical demand including lost business turndown, rooms on the books, competitive set and market trends to aid in more accurate forecasting.
- Liaise with Group and Business Sales Managers, Reservations and Front Office to ensure yield and revenue management principles are understood and followed.
- Operationalizes hotel and corporate pricing strategies through definition and management of rate levels, stay restrictions and other tactics, which are congruent with demand factors and which are managed through all distribution channels.
- Provides guided learning so that all areas of the hotel that impact revenue are fully aware of the hotel Revenue Management strategies and understand their role in the plan.
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