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Revenue Optimization and Reservations Manager
2 months ago
POSITION SUMMARY:
The Revenue Optimization and Reservations Manager is essential in enhancing the hotel's financial performance through strategic pricing and yield management. This role combines analytical prowess with leadership capabilities to oversee revenue enhancement and the efficiency of the guest services team, ensuring that budgetary goals are met or exceeded.
KEY RESPONSIBILITIES:
- Revenue Management:
- Collaborate with the Regional Revenue Manager to create and execute dynamic pricing strategies aimed at maximizing room revenue and increasing market share.
- Conduct thorough market analysis and keep an eye on competitor pricing and demand trends to fine-tune pricing and distribution approaches.
- Manage customer segmentation and develop tailored pricing strategies for each segment.
- Prepare and deliver comprehensive revenue forecasts, performance reports, and market analyses to senior management.
- Establish best practice standards, including competitor length of stay yield management and inventory availability across channels.
- Oversee room inventory and pricing across all distribution channels, ensuring optimal visibility and pricing on online travel agencies and booking platforms.
- Reservations Management:
- Train and mentor the guest services team to enhance their performance and customer service skills, maximizing reservation capture.
- Implement processes to improve reservation accuracy and manage group bookings effectively.
- Monitor reservation inventory and block allotments to ensure maximum profitability.
- Ensure the website booking process is current and functional.
- Assist in managing room authorizations, rates, and restrictions while communicating strategies to each property.
- Collaboration:
- Work closely with Sales, Marketing, and Front Office teams to align revenue strategies with promotional activities and guest services.
- Provide guidance to the sales team on revenue management principles and best practices.
- System & Process Management:
- Maintain and optimize revenue management systems and tools, ensuring accurate data entry to support operational efficiency.
QUALIFICATIONS:
- Strong understanding of hotel operations and a passion for the hospitality industry.
- A minimum of 2 years of experience in hotel reservations or systems.
- Experience with revenue management systems is an asset.
- Proven ability to build rapport with guests and potential clients.
- Excellent interpersonal, oral, and written communication skills.
- Strong organizational skills with a high degree of professionalism.
- Proficient in Microsoft Office Suite.
- Ability to adapt to a flexible work schedule and meet the demands of a dynamic environment.
InnVest Real Estate Investment Trust is committed to fostering an inclusive workplace. We welcome applications from individuals with diverse backgrounds and experiences.