Prince Waikiki: Director of Revenue Management (Salary)

DIRECTOR OF REVENUE MANAGEMENT

Primary Responsibilities: The Director of Revenue Management will be responsible for maximizing the hotel’s rooms and overall revenue and profitability by effectively managing the pricing, inventory, and distribution channels for the hotel. This role will develop and implement strategies to maximize all revenues and profits for the hotel while providing leadership, direction, and technical support to the Revenue Management Department. This position will be responsible for in depth data analysis, monitoring market trends, hotel performance, competitor pricing and providing accurate forecasts. This position will be a member of the hotel’s Executive Committee.

Essential Duties:

1. Execute all revenue management related critical path items including room type analysis, pricing, inventory, OTA contracting and maintenance/implementation of the CRS and PMS.
2. Effectively leverage, manage and maintain Revenue Management Systems and its daily operations to provide accurate forecasting/reporting.
3. Monitor hotel’s distribution and booking systems to ensure all revenue generating channels are working efficiently.
4. Facilitate training and support in all areas related to revenue management and distribution.
5. Analyze applicable revenue reports to make daily yield management decisions and update respective inventory/rate information directly through systems.
6. Analyze and review weekly/monthly STR report results understanding the gains/losses of the RevPAR Index and applying this knowledge to impact/develop proactive strategies to gain market share against the competition.
7. Analyze and review Demand 360 and other reports as needed to track industry/competitor pace and strategies in order to gain market share for hotel.
8. Manage all third-party OTA relationships and channels by working with market managers on all promotions as well as in conjunction with the marketing department on OTA marketing opportunities.
9. Partner with Sales, Marketing, Food & Beverage, Catering and Conference Services and the Hawaii Prince Golf Club to support and deploy revenue generation strategies.
10. Utilize the Revenue Management System to help support group sales in performing displacement strategies as well as booking pace/production for leisure sales and marketing.
11. Work with marketing department to set up/load all direct promotions on the booking engine on brand.com.
12. Work with the leisure sales team and its third-party partners (wholesale, OTA) to set up accounts/promotions through dynamic and static channels.
13. Work with the leisure and corporate sales team and their third-party partners to help set up negotiated accounts/offers in the GDS.
14. Work with the General Manager, Director of Sales and Marketing and Corporate Director of Revenue in setting annual rate, pricing and hotel revenue generation strategies.
15. Create performance expectations, manage processes, and hold revenue management team accountable for their activities and timelines.
16. Take ownership and act as a brand expert for revenue management and distribution related technology, ensure that the revenue management team are utilizing systems to their full potential and continuously monitor the systems to ensure accuracy.
17. Lead all revenue management and distribution system integrations and ensure all approved channels are connected/working efficiently.
18. Performs other related duties as assigned or required.

Other Duties:

1. Conduct weekly RevMax meetings.
2. Participate in monthly ownership meetings.
3. Attend all scheduled manager’s meeting and training sessions.
4. Provide and create reports as needed to make strategic revenue generating decisions.
5. Travel as needed/required.

Working Conditions:

• Office setting.
• Business travel as needed.

Work Hours:

• Must be able to work flexible schedules to meet goals.
• Must be able to work more than 40-hours per week.

Equipment Use:

• Strong understanding of how all hotel PMS, CRS and distribution channels work for an independent hotel required.
• Previous experience and strong working knowledge of various systems including Rainmaker/RevIntel/GroupRev, Amadeus/TravelClick, Opera and Delphi highly preferred.
• Previous experience in managing OTA accounts through it’s extranet/systems highly preferred.
• Intermediate or expert skill level in the use of computer and all office software including Excel, Word, PowerPoint, Zoom, Teams required.
• Ability to use various office equipment including but not limited to telephones, calculators, photocopiers, and facsimile machines.

Mental and Physical Demands:

• Must be able to multitask and work in a fast-paced environment.
• Strong organization and analytical skills required.
• Must be able to work with various technologies and systems.
• Ability to establish and maintain effective working relationships with internal colleagues as well as external customers.
• Ability to sit for extended periods of time to perform duties.
• Ability to input 40 words per minute on a computer keyboard.
• Ability to perform advanced mathematical calculations.
• Ability to sit in a confined area for the duration of an eight-hour shift and also be mobile.

Communication Demands:

• Ability to effectively communicate and lead a department.
• Ability to strategically negotiate opportunities as needed with clients/vendors.
• Ability to listen effectively and speak the English language clearly over the phone.
• Ability to teach skills learned to operate any new systems required for the revenue department.

Minimum Qualification Requirements:

• Minimum 3 years’ experience in similar role highly preferred.
• Knowledge of hotel industry and Hawaii/Oahu market required.
• Previous experience working in an independent upscale hotel highly preferred.
• Must be based on site or willing to relocate to Oahu.
• Bachelor’s degree highly preferred.