Portfolio Revenue Manager

PORTFOLIO REVENUE MANAGER
Job Overview:
As Revenue Manager, you will lead, drive and engage the team around you to optimise revenue streams, drive profitable decisions by creating a positive revenue generation culture within the centre and each hotel.
This role leads the revenue management function for a portfolio of hotels, across all brands, segments, and channels. As a leader in the Revenue Centre, you will lead cross functional decision making of sound, tactical and strategic initiatives. Commercial acumen is at the centre of the way Pro-invest runs their business, and therefore the role requires you to, accurately forecast demand and price accordingly as well as develop short, medium and long term strategies to achieve above market performance.
As a manager across a portfolio of hotels, you will lead revenue management and reservation colleagues across this portfolio, striving to deliver optimal performance where key commercial decisions are anchored through the Revenue Centre.
Duties and Responsibilities
FINANCIAL RETURNS

• Develop and execute key cross functional decision making within the Portfolio of sound, tactical and strategic initiatives
• Accurately anticipate revenue demand primarily in rooms accommodation, but as well, in other revenues streams such as food & beverage and conferencing.
• Devise and implement a pricing structure across all market segments commensurate to effectively drive revenue share shift into the Portfolio and maximise its profitability.
• Initiate sound revenue management actions to ensure that pricing, conversion and yield restrictions in hotel PMS or CRS (Central Reservation Systems) are appropriate to forecasted demand. (IHG Concerto & Accor TARS).
• Communicate regularly within the Portfolio, regarding hotel performance, opportunities and/or threats and ensure Portfolio is advised on decisions which may impact hotel operations, such as levels of overbooking, pricing changes and last-minute occupancy fluctuations.
• Ensure that inventory is balanced, and the daily operations of the revenue sales team and revenue systems are managed effectively.
• Support the Head of Revenue Centre to deliver engagement calls with hotels within the Portfolio, including but not limited to yield meetings, forecast sign off meetings and revenue generation meetings, that focus on optimising performance.
• Develop a culture of revenue management amongst the revenue sales team, to drive yield, upselling and profitable channel management. Support the team to maintain, update and share information, relevant to each hotel, with leaders in the areas a calendar of external events, competitor rate intelligence, RevPAR penetration, RGI natural/actual/forecast/stretch, arrival and spending patterns of key customer groups, denial reports, system contribution and trends in rooms by channel, segment and account.
• Work collaboratively with the Revenue Centre Operations Manager to ensure analysis of group activity, including denials, regrets, booking pace, wash and cut off enforcement.
• Implement group pricing and allocation parameters to assist the sales and revenue sales team in making the right, corroborated pricing and inventory decisions (group, sale discount and closed user group blocks).
• Lead the forecasting and budgeting process and ensure all respective stakeholders are informed in an accurate and timely manner.
• Utilise RMS / PERFORM/RMS forecast and hurdle points relevant to the forecast and if necessary, revise segment forecasting to ensure that product and inventory yielding, and length of stay is being managed appropriately.
• In conjunction with the Head of Revenue Centre, drive engagement of third-party tools, such as Agency 360, demand 360 or equivalent to drive superior market/account intelligence to procure new accounts.
• Monitor competitor pricing for rooms through third party tools like Rate Insights /Rate 360 and understand the dynamics of the local market and demand generators. Work with the wider revenue team to action appropriate strategies and changes relating to pricing, prospect accounts and market mix. Liaise with Head of Revenue Centre around actions undertaken and the result on hotel performances.
• Analyse and understand impact of channel delivery and be able to make decisions with regards to what needs to change to shift share understand how to manage these channels and the impact of effective channel management.
• Track and analyse group activity, including denials, regrets, booking pace, wash and cut off enforcement. Implement sales strategies for all group proposals, working closely with the sales team.
• Monitor and determine demand periods for function space through an analysis of historical data, current bookings, denials and regrets. Collaborate with the sales teams on the setting of rates for groups and conferences.
• In conjunction with your Revenue Centre colleagues, conduct rate loading and revenue management audits with a focus on continuous improvement.
• Champion special projects relating new hotels under the Pro-invest Hotels portfolio.

Forecasting / Budget:

• Update the room forecast files using relevant business insights tools (e.g. Duetto, SBRP or Biz Mix files) and share the file with the hotel.
• Consider and comment on economic, political, social activity and trends which are likely to influence business outcomes.
• Support the sales and marketing strategies and actions based on the forecast and budget communicated.
• Review demand forecast and yield restrictions relevant to optimizing RGI performance and if necessary, revise product and inventory yielding and length of stay to achieve optimized revenue share.
• Ensure forecasting accuracy for all market segments with focus on RevPAR however not limited to rooms revenue streams.
• Evaluate group acceptance and pricing, in line with forecasted demand
• Update and analyse denial and regret activity, proportional to demand and pricing.
• Recommend and implement channel and rooms segmentation targets, supported by data analysis as part of the annual budgeting process.

Our People

• Managing stakeholders - identify requirements and outline framework for meetings, communications, engagement, and alignment.
• Lead and develop key revenue & reservation resources
• Adhere to standards for presentation, grooming and punctuality.
• Attend and participate in department briefings, meetings, and training sessions as scheduled.
• Ensure the workspace is tidy and consider WH&S compliance.
• Perform detailed shift handover with oncoming shift where required.
• Develop and maintain cohesive working relationships within immediate team, and wider hotel teams.
• Actively participate in personal training and development, ensuring any pre/post-course activity is undertaken.

Guest Experience

• Assist in the efficient day-to-day operation of the Revenue Centre.
• Ensure all product information on brand websites, microsites and OTAs sites are accurate, appealing, and appropriate to business need. Coordinate with Revenue Centre Operations Manager where updates are necessary.
• Management of stakeholders, with regards to fostering collaboration through gaining alignment and through open communication with Hotel leaders, Revenue Centre and in field sales team.

Responsible Business

• Ensure the Revenue Centre office is compliant with all relevant Pro-invest Hotel's safety standards.
• Maintain exemplary department standards of behaviour and appearance and attitude as expected by Pro-invest Group's code of conduct.
• Assist with the property management systems (PMS) in emergency situations and ensure you consider the safety and security of team members and hotel guests as well as oneself.
• Maintain all procedures and adheres to them within the Pro-invest Hotels guidelines with emphasis on hotel credit policy.
• Develop awareness and reputation of the hotel and brand in the local community and promote team member involvement in community outreach efforts.
• Demonstrate awareness and understanding of WH&S policies and procedures.
• Assist the Emergency Response Team to prepare for emergency procedures upon advice from relevant authority that cover such emergencies as fire, power outrage, bomb threat, cyclone warnings, etc.
• Champion the identification and reporting of hazards, evaluation or risks, and design and implementation of hazard and control measures.
• Facilitate the reporting and investigation of injuries and illnesses arising from workplace activities, recommend and implemented corrective actions as required, to prevent or minimise the chance of
• recurrence.
• Ensure compliance to all Pro-invest security and safety standards. Including cyber/technology security such as password security.
• Strictly adhere to company policy concerning the Trade Practices Act, gifts & bribery & data privacy regulations.
• Clock in / clock out as per correct procedures, on a daily basis.
• Perform other duties as reasonably assigned.

ACCOUNTABILITY
Number of employees managed:

• Direct Reports - N/A

Reports to -

• Head of Revenue

Performance Metrics:

• Rooms Revenue outperformance of the portfolio relative to respective competitor set
• Successful set up of Revenue Centre and revenue growth and delivery to each hotel.
• Superior channel contribution driven to profitable channels
• Stakeholder engagement, collaborative, business outcome based engagement across the Portfolio

Decision making responsibilities (Key Decision Rights that the role actually owns):

• Hotels pricing and yielding decisions including sell strategies
• Hotel rooms revenue forecasts
• Content amendments
• Profitable channel optimization.

QUALIFICATIONS AND REQUIREMENTS
Education:

• University Degree or Hospitality Diploma/Degree
• Postgraduate in Hospitality, Sales & Marketing or related field is desirable

Experience:

• Overall experience of +5 years in Hospitality Industry
• Understanding of revenue management with a minimum of 3 years experience preferably in a reservations/yield management environment
• Management experience desirable

Technical Skills and Knowledge:

• Intimate knowledge of Central Reservation System (Concerto/Trust/Marsha etc), Property Management System (PMPro/Opera).
• Proven knowledge of Revenue Management Software Systems like Duetto, Ideas, RMS, Concerto / Perform.
• Hotel Management company's proprietary systems & tools knowledge will be ideal.
• Advanced Microsoft Office knowledge, particularly Excel.
• Excellent report writing and presentation skills.
• Previous hotel-based Revenue Management training (tools and processes).

KEY RELATIONSHIPS
INTERNAL RELATIONSHIPS

• Hotel leaders
• Portfolio Revenue Manager
• Head of Revenue Centre
• Revenue Sales Agents and Revenue Centre Operations Manager
• Sales teams
• Pro-invest central management including operational and finance teams
• Information Technology

External relationships

• Revenue management, distribution, and sales & marketing industry peer groups
• Professional associations