Revenue Manager Job Summary
The Revenue Manager will be responsible for maximising revenue through effective pricing strategies, demand forecasting, inventory control, and market analysis. This role requires a strategic mindset, an analytical approach, and the ability to collaborate with sales, marketing, and operational teams.
Key Responsibilities:
* Develop and implement pricing strategies to optimise revenue for all hotel room types and related services.
* Continuously assess and adjust pricing strategies based on market conditions, competitor analysis, and business trends.
* Collaborate with the sales and marketing teams to create promotions, packages, and offers that drive both occupancy and average daily rate (ADR).
* Forecast demand, revenue, and occupancy patterns to help set budgets, targets, and financial goals.
* Monitor room availability and optimise inventory distribution across all channels (OTAs, direct bookings, corporate accounts, etc.).
* Work with the front office team to ensure that room allocations are in line with revenue optimisation goals.
* Oversee overbooking strategies to maximise occupancy while minimising the risk of guest dissatisfaction.
* Analyse historical data, booking trends, and market performance to inform pricing decisions.
* Regularly review and adjust revenue performance to meet financial objectives.
* Prepare and present reports on room revenue, occupancy, ADR, and RevPAR (Revenue per Available Room) to senior management.
* Stay informed of competitive hotel rates, occupancy levels, and market conditions.
* Track local events, holidays, and trends that could impact demand.
* Analyse the performance of different distribution channels and recommend improvements to maximise revenue.
* Work closely with the Sales & Marketing teams to ensure consistent pricing across all channels.
* Collaborate with the Front Desk and Operations teams to ensure that pricing, inventory, and promotions are correctly applied to guest bookings.
* Communicate with the Finance team to ensure revenue goals and forecasts align with financial projections.
* Provide accurate and timely forecasts for future demand, revenue, and occupancy.
* Assist in the preparation of budgets and revenue targets based on forecasted demand.
* Make recommendations on staffing levels, resource allocation, and other operational adjustments to maximise profitability.
Requirements:
* 2-5 years of experience in revenue management, pricing, or similar roles in the hospitality industry.
* Strong analytical and problem-solving skills.
* Proficient in revenue management systems (e.g., Delphi, STR, RMS).
* Knowledge of booking systems and online travel agencies (OTAs).
* Strong communication and collaboration skills.
* Ability to work under pressure and meet deadlines.
Benefits:
* Employee Assistance Program.
* Bike to Work Scheme.