Revenue Manager

SCOPE & GENERAL PURPOSE OF JOB: The Revenue Manager is responsible for optimizing and maximizing hotel revenue through strategic pricing and inventory management. By analysing data, forecasting demand, and adjusting strategies, the Revenue Manager ensures the hotel achieves maximum profitability while maintaining guest satisfaction. This role collaborates with the sales, marketing, and operations teams to align pricing strategies with overall business goals.

General:

·       Oversee the entire revenue & reservations process, including handling individual, group, and develop and implement revenue management strategies that optimize revenue across all channels, including direct bookings, OTAs, and group reservations.

·       Accurately forecast demand, room occupancy, and revenue, and contribute to the annual budgeting process.

·       Analyse performance data to understand demand trends, market conditions, competitor pricing, and customer booking behaviour's to make informed decisions

·       Adjust pricing strategies and manage room inventory based on market demand, seasonality, and competitor analysis.

·       Monitor and manage all distribution channels (OTAs, GDS, direct bookings) to ensure consistent pricing and availability across platforms.

·       Conduct ongoing market analysis and stay updated on industry trends to maintain competitive pricing strategies.

·       Produce regular reports on revenue performance, market trends, and forecast accuracy to present to senior management.

·       Oversee the effective use of revenue management software (PMS, RMS, CRS) and ensure data accuracy and system optimization.

·       Implement yield management techniques to adjust room rates and strategies dynamically based on real-time demand and occupancy levels.

·       Provide training and support to team members on revenue management best practices and strategies. Collaborate with the finance, sales and marketing teams to create targeted promotions and packages.

·       Prepare and present revenue forecasts and reports to senior management including dynamic forecast of expected results, variances, and budget comparisons.

·       Daily pick-up analysis, strategy adjustments and reporting.

·       Ensure web site booking process is maintained up-to-date and functional. 

·       Ensure relevant personnel are fully trained and competent in the use of all systems.

·       Conduct quarterly property performance review and develop strategic and tactical action.

·       Responsible for best practice standards to include competitor analysis; environmental scanning; market modelling; distribution yield management; business mix yield management;

length of stay yield management; inventory availability by channel; pricing control and new pricing concepts.

·       Evaluate performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…).

·       Prepare outline for and support the annual revenue budget process.

·       Inspire Hotel’s head of departments to further embed a revenue management culture. 

·       Any other reasonable requests made by management.

·       Maintain 12-36 month rolling demand calendar.