You will be responsible for formulating long and short-term Revenue Management strategies of the SBU (Strategic Business Unit, usually a hotel/resort) and for overseeing their successful execution towards the advancement of RevPAR market share. Leverages provided resources to ensure the successful application and continuous development of Revenue Management techniques for maximising the generation of rooms’ revenue, as well as any other agreed-upon revenue streams such as catering, restaurant or spa revenues.
- Monitor RevPAR index and provide critical analysis of SBU performance. Lead the SBU revenue team in the development of long and short-term strategies to address any deficiencies and to contribute to the ongoing growth of RevPAR market share.
- Develop and maintain a robust and current knowledge of the SBU’s marketplace and competitive environment. Understand the macro and micro-economic variables affecting supply and demand in the local marketplace, and use this knowledge to create accurate operational and financial rooms’ revenue forecasts. Prepare annual rooms’ revenue budget and co-author with Director of Business Development the SBU’s annual marketing plan.
- Be actively involved in the creation of weekly and monthly forecasts for catering, F&B and Spa performance and give recommendations for the optimisation of RevPASM, RevPASH and RevPATBH.
- Perform unconstrained demand analysis to determine optimal business mix for SBU. Considering optimal and forecasted levels of business from each market segment, work with the Director of Business Development to direct the SBU’s sales efforts accordingly.
- Oversee SBU process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department. Ensure that process enables high speed of response while maximising SBU profits. Conduct profitability analysis on specific pieces of potential business as warranted.
- Analyse/evaluate the performance of wholesale and corporate negotiated business in relation to discount ratios and materialisation.
- Lead the SBU to advances in system contribution through optimisation of business mix and the effective and accurate management of the SBU’s rates, inventory and content in all distribution channels. Leverage the expertise of the Jumeirah Group’s Distribution Marketing function towards these ends.
- Develop and maintain a close relationship with the market manager of Third-Party Intermediaries to maximise the opportunities with these channels.
- Maintain an advanced knowledge of system functions (and corresponding interfaces) related to the generation of rooms revenue for the SBU including PMS, CRS, RMS and Sales & Catering system and ensure that these systems are leveraged to their full capacity in order to enhance ROI for Jumeirah and maximise SBU revenue.
- Champion the Revenue Management discipline within the SBU, ensuring that all personnel directly involved in the generation of rooms revenue understand essential Revenue Management principles and concepts. Provide requisite training and development, contributing to the development of a Revenue Management culture within the Jumeirah Group.
- Chair weekly and monthly Revenue Strategy meetings in order to formulate and disseminate strategies and tactics. Ensure that prior decisions are re-visited in this forum in order to evaluate their effectiveness and promote learning.
- Conduct price resistance analysis in order to gauge price elasticity of retail demand. Maintain awareness of competitors’ retail prices and observe their pricing strategies. Utilise gained knowledge from above to determine appropriate retail prices on an ongoing basis. Ensure that pricing within all non-retail market segments is correspondingly rationalised against retail rates.
- Based on observed demand patterns, apply appropriate inventory management, pricing strategies or other tactics to ensure that seasonal and day-of-week demand peaks are smoothed and shoulder period revenues thusly enhanced.
- Fully utilise the IDeaS RMS in relation to reporting and yielding capabilities and monitor the forecasting and resulting BAR recommendations closely. Ensure that range of rooms “products” distributed by SBU, including room types/classes, packages and promotions are scrutinised for strategic intent and rationality before reaching the marketplace. Continually monitor the effectiveness of all products and their application to particular market circumstances. Lead the SBU revenue team in the revision of existing products and creation of new products accordingly.
- Utilise the Jumeirah Group’s proprietary Market Intelligence platform to conduct critical analysis of SBU revenues and to monitor progress towards goals on key performance metrics. Ensure that key stakeholder in the SBU, including the General Manager and Director of Business Development, are appropriately familiar with the capabilities of this platform. Proliferate use of the platform in order to maximise Jumeirah’s ROI and grow SBU market share.
- Understand and utilise other Market Intelligence tools like STAR, Hotelligence and Market Vision to formulate appropriate pricing and channel optimisation strategies.
- Work with regional and corporate Revenue Management representatives to identify and capitalise on revenue generating opportunities for the SBU. Prepare for and lead property diagnostic sessions and standards audits as coordinated by the regional/corporate function.
- Actively develop all subordinates, ensuring that they have opportunities to grow their Revenue Management and leadership skill base through personal attention, internal/external training and participation in industry events.
- Create a Revenue Management succession plan in order to sustain the viability of the discipline for the SBU. Perform annual performance reviews of all direct reports and assist them to create personal development plans for career growth.
- Recruit and retain colleagues that are intent on Revenue Management as a career path, who through development will become the future leaders of the discipline for the Jumeirah Group.
- Consult with other SBU departments to ensure that Jumeirah Group standards pertaining to the optimisation of revenues are not circumvented, such as procedures for the collection of no-show and cancellation charges, early departure fees, etc.
- Ensure familiarity with and adherence to Jumeirah Group Revenue Management standards and guidelines throughout the SBU.
Perform other duties that management may from time to time reasonably require.
A Bachelor’s degree or equivalent diploma in Hotel Administration or Business Administration
You must also have at least 2 years in a position of direct responsibility for Revenue Management within a hotel/resort.
You should also have a highly developed revenue management set of skills with excellent verbal and technological skills.
Having earned an MBA or other post-graduate university education with strong understanding of hotel distribution and processing the knowledge/desire to leverage technology as a resource will be viewed as highly desirable.