Revenue management responsibilities
Forecasting: Analyze historical data, market trends, and events to forecast demand and create a rolling demand calendar.
Pricing: Develop and implement dynamic pricing strategies for different market segments, channels, and seasons to maximize revenue.
Inventory Management: Manage room inventory across all distribution channels, balancing direct bookings with third-party platforms.
Reporting and Analysis: Track daily pick-up, conduct competitive benchmark studies, and provide weekly and monthly performance reports with recommendations for improvement.
Strategy: Collaborate with sales and marketing to align strategies and develop promotional campaigns.
Budgeting: Support the annual revenue budget process and set departmental goals.
Reservation responsibilities
System Management: Oversee and audit the reservations department's operations, ensuring systems are configured correctly and working to full capacity.
Data Quality: Regularly check the quality of data being entered into reservation systems.
Website Management: Ensure the hotel's website booking process is up-to-date and functional.
Team Training: Ensure hotel personnel are competent in using all reservation and revenue management systems.
Guest Support: Handle reservation requests and manage booking information accurately, often requiring direct guest and travel agent interaction.
Required skills
Strong analytical and data interpretation skills
Strategic thinking and planning
Proficiency with revenue management systems and software
Excellent communication and collaboration abilities
Knowledge of hospitality market trends and competitive landscape