Peachtree Hotel
RVP Revenue
Peachtree Hotel, Atlanta, Georgia, United States, 30383
Job Summary
The Regional Vice President Revenue Management (RVPRM) plays a critical role in driving revenue growth and profitability by developing and executing effective strategies to an assigned region of hotels. The RVPRM will have an elevated responsibility in job tasks and accountability driving the hotels as close to proforma expectations as possible while performing at the top of market performance. The RVPRM reports to the SVP Revenue Generation.
Essential functions
1. Revenue Strategy Development: Develop and implement comprehensive revenue management strategies to optimize revenue across all business segments and regions.
2. Market Analysis: Conduct thorough market analysis to identify trends, opportunities, and threats that may impact revenue performance. Use data-driven insights to make informed decisions.
3. Price Optimization: Utilize pricing strategies to maximize revenue and profitability while ensuring competitiveness in the market.
4. Inventory Management: Oversee inventory management processes to effectively control supply and demand dynamics, ensuring optimal pricing and availability.
5. Forecasting and Budgeting: Develop accurate revenue forecasts and budgets based on historical data, market trends, and business objectives.
6. Performance Monitoring: Monitor key performance indicators (KPIs) related to revenue, occupancy, and average daily rate (ADR). Identify areas of improvement and implement corrective actions as needed.
7. Team Leadership: Provide leadership and guidance to a team of revenue management professionals. Foster a collaborative and high-performance culture to achieve revenue goals.
8. Cross-Functional Collaboration: Collaborate with sales, marketing, operations, and finance teams to align revenue strategies with overall business objectives and ensure seamless execution.
9. Technology Utilization: Leverage revenue management systems and tools to streamline processes, enhance efficiency, and drive revenue growth.
10. Compliance and Ethics: Ensure compliance with industry regulations and company policies related to revenue management practices. Uphold ethical standards in all revenue-related activities.
11. Training and Development: Provide training and development opportunities for RGS team members to enhance their skills and expertise in revenue management.
12. Stakeholder Communication: Effectively communicate revenue performance, strategies, and initiatives to senior leadership, Asset Management, stakeholders, and other relevant parties.
Core Tasks:
• Quarterly action plans for revenue management with measurables• Monthly review to Asset Management/PGHM Leadership on hotel performance and next 90 day projections• Weekly strategy review with SVP of Revenue Management• Monthly review of Digital and Marketing spend, ensuring the correct strategy is in place• Monthly touch point with brand representatives to ensure participation in all brand promotions and programs designed to enhance revenues
Competencies:
• Expert understanding of Star Report performance measures and overall Smith Travel guidelines to the reporting.• Remain current on industry trends and how they compare to PGHM performance.• Brand system expertise with the rate change process, property detail update, revenue management yield systems, reporting, pricing shop tool, group booking detail, channel booking structure.• Expertise in TravelClick Demand 360 and Agency 360 reporting. Experience with OTA insight preferred.• Ability to organize details for multiple hotels, multiple locations and multiple people. A strong multi-tasker.• Communicate in a clear and concise manner to VP's, Asset Management and Hotel team on direction and system detail.• Assertive manner to proactively work with RDRM team and ensure tasks are completed timely.
Travel required30% travel required for this position. Must be willing to travel at times for any team property visits, Regional Meetings, or in person revenue generation meetings. Required education and experience.The RVPRM should reside in close proximity to the Michigan area.
Preferred education and experience
• Industry certifications through various organizations.a. GRO and OY certified preferred.
• Minimum 5+ years of regional or above leadership experience required - revenue management, with multiple hotels and location assignments.• Minimum 4 years brand system specific experience in revenue management related position in at least 2 brands.a. Hilton, Marriott, Hyatt and IHG preferred.
Additional eligibility requirements
• Possess general understanding of hotel operations and how operations intersect with revenue/sales• Self-motivated with strong time management skills, keen abilities to set and achieve priorities• Strong problem-solving skills, ability to effectively manage multiple tasks simultaneously, function well under pressure, delegate effectively, ability to remain positive and constructive under stress• Excellent verbal and written communication, effective listening, and presentation skills• Must be able to work a flexible and adaptable schedule to include infrequent evening and/or weekend meetings• Must possess a valid driver's license and have reliable transportation
Peachtree Group Hospitality Management provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
The Regional Vice President Revenue Management (RVPRM) plays a critical role in driving revenue growth and profitability by developing and executing effective strategies to an assigned region of hotels. The RVPRM will have an elevated responsibility in job tasks and accountability driving the hotels as close to proforma expectations as possible while performing at the top of market performance. The RVPRM reports to the SVP Revenue Generation.
Essential functions
1. Revenue Strategy Development: Develop and implement comprehensive revenue management strategies to optimize revenue across all business segments and regions.
2. Market Analysis: Conduct thorough market analysis to identify trends, opportunities, and threats that may impact revenue performance. Use data-driven insights to make informed decisions.
3. Price Optimization: Utilize pricing strategies to maximize revenue and profitability while ensuring competitiveness in the market.
4. Inventory Management: Oversee inventory management processes to effectively control supply and demand dynamics, ensuring optimal pricing and availability.
5. Forecasting and Budgeting: Develop accurate revenue forecasts and budgets based on historical data, market trends, and business objectives.
6. Performance Monitoring: Monitor key performance indicators (KPIs) related to revenue, occupancy, and average daily rate (ADR). Identify areas of improvement and implement corrective actions as needed.
7. Team Leadership: Provide leadership and guidance to a team of revenue management professionals. Foster a collaborative and high-performance culture to achieve revenue goals.
8. Cross-Functional Collaboration: Collaborate with sales, marketing, operations, and finance teams to align revenue strategies with overall business objectives and ensure seamless execution.
9. Technology Utilization: Leverage revenue management systems and tools to streamline processes, enhance efficiency, and drive revenue growth.
10. Compliance and Ethics: Ensure compliance with industry regulations and company policies related to revenue management practices. Uphold ethical standards in all revenue-related activities.
11. Training and Development: Provide training and development opportunities for RGS team members to enhance their skills and expertise in revenue management.
12. Stakeholder Communication: Effectively communicate revenue performance, strategies, and initiatives to senior leadership, Asset Management, stakeholders, and other relevant parties.
Core Tasks:
• Quarterly action plans for revenue management with measurables• Monthly review to Asset Management/PGHM Leadership on hotel performance and next 90 day projections• Weekly strategy review with SVP of Revenue Management• Monthly review of Digital and Marketing spend, ensuring the correct strategy is in place• Monthly touch point with brand representatives to ensure participation in all brand promotions and programs designed to enhance revenues
Competencies:
• Expert understanding of Star Report performance measures and overall Smith Travel guidelines to the reporting.• Remain current on industry trends and how they compare to PGHM performance.• Brand system expertise with the rate change process, property detail update, revenue management yield systems, reporting, pricing shop tool, group booking detail, channel booking structure.• Expertise in TravelClick Demand 360 and Agency 360 reporting. Experience with OTA insight preferred.• Ability to organize details for multiple hotels, multiple locations and multiple people. A strong multi-tasker.• Communicate in a clear and concise manner to VP's, Asset Management and Hotel team on direction and system detail.• Assertive manner to proactively work with RDRM team and ensure tasks are completed timely.
Travel required30% travel required for this position. Must be willing to travel at times for any team property visits, Regional Meetings, or in person revenue generation meetings. Required education and experience.The RVPRM should reside in close proximity to the Michigan area.
Preferred education and experience
• Industry certifications through various organizations.a. GRO and OY certified preferred.
• Minimum 5+ years of regional or above leadership experience required - revenue management, with multiple hotels and location assignments.• Minimum 4 years brand system specific experience in revenue management related position in at least 2 brands.a. Hilton, Marriott, Hyatt and IHG preferred.
Additional eligibility requirements
• Possess general understanding of hotel operations and how operations intersect with revenue/sales• Self-motivated with strong time management skills, keen abilities to set and achieve priorities• Strong problem-solving skills, ability to effectively manage multiple tasks simultaneously, function well under pressure, delegate effectively, ability to remain positive and constructive under stress• Excellent verbal and written communication, effective listening, and presentation skills• Must be able to work a flexible and adaptable schedule to include infrequent evening and/or weekend meetings• Must possess a valid driver's license and have reliable transportation
Peachtree Group Hospitality Management provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.