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Revenue Manager

7 months ago

Jeddah, Saudi Arabia Novotel Jeddah Tahlia Street Full time

**Revenue Manager**

Drive Market share and revenue performance through proper pricing and business mix management

**What is in it for you**:

- Employee benefit card offering discounted rates in Accor worldwide
- Learning programs through our Academies
- Opportunity to develop your talent and grow within your property and across the world
- Ability to make a difference through our Corporate Social Responsibility activities, like Planet 21

**What you will be doing**:

- Analyze competitive reports and formulate appropriate strategies.
- Develop overall pricing strategy to include all market segments and distribution channels
- Provide guidance on corporate transient negotiated pricing, group pricing for each group, and wholesale pricing
- Ensure effective pricing strategies are in place to reflect asset strength relative to the competition in each market
- Ensure adherence to Novotel Pricing Policies of Rational Pricing and compliance to the Best Rate Guarantee (BRG)
- Effectively manage and be in control of all inventory (transient, group, wholesale allotments and other) and pricing strategy in all distribution channels including branded web, 3rd party sites, TARS, and the GDS
- Lead the Director of Sales & Marketing and General Manager in the decision making process of promotion participation, offline contracts and pricing thereof
- Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance
- Review and analyze data on an ongoing basis
- Includes but not limited to Rooms Rollup, Pace, Group Backlog, Geographic Data, Enterprise Channel Reports, PMS Reports.
- Responsible for effective implementation and compliance with Novotel Revenue Management Standards
- Maintain the accuracy and timely entry of all relevant data in the Revenue Systems
- Complete understanding and effective execution of current and new RM tools. Includes PMS, IPS, Sales & Catering System, Market Vision, Enterprise Channel Reports and any new/similar tools or reports developed in future years
- Take a key role in property PMS Conversions
- Take the lead role in property RMS Installations
- Compliance to Sofitel Standards for Rate Plans, Rate Categories, Market Segments, Profiles and all other PMS/IPS related RM functionalities
- Ensure accurate and timely entry of rate plans
- Ensure Best Rate Guarantee compliance
- Clearly communicate to hotel team the strategic vision and objectives on how to drive revenues and improve performance
- Ensure hotel team members understand the concept of Revenue Management and their role
- Provide the hotel team with regular updates on hotel performance to include market share, market segment roll ups, and channel metrics
- Educate the sales team on the effective use of Opera to improve profitability of group bookings
- Share best practices and key learning’s with peers, Regional Director of Revenue Management and Divisional RM team
- Identify and communicate to either Regional or Divisional RM team in addition to appropriate technical support bugs/enhancements affecting revenue management from all RM tools, including PMS, IPS, Channel Reports, and branded websites
- Lead the property’s weekly Revenue Management Meeting and contribute to the Daily Operations Meeting
- Provide Executive Committee with regular revenue management updates
- Contribute and provide Revenue Management strategic vision during all Regional and Divisional Property Reviews and/or Pricing Meetings
- Take a strong leadership role in the bi weekly/Monthly Forecasting Meetings
- Produce accurate forecast on weekly and monthly basis (as determined by the hotel controller)
- Produce all relevant components of the Budget pertaining to Revenue Management
- Validate comp set RevPAR forecast by month to ensure effective soft spot calendar planning
- Identify and develop soft participations/promotions and strategies
- Lead the DOSM and the Online executive in participation in online strategies
- Recruit, train and mentor (as applicable) the Reservations supervisor and/or a strong second with a view to contingency
- Assist in developing a career path for direct reports
- Other Duties:

- To assist in the building of an efficient team of employees by taking an active interest in their welfare, safety and development. To encourage the team to maintain good relationships with colleagues and all other departments.
- To ensure that all employees provide a friendly, courteous and professional service at all times.
- To assist in the training of employees ensuring that they have the necessary skills to perform their duties with the maximum efficiency and in the most productive manner.
- To supervise the employees within the department, ensuring that the correct standards and methods of service are maintained as stated in the Hotel and Department Operations Manual.
- To ensure that the Department's operational budget is strictly adhered to and that all costs are controlled and expenditures