To provide directional leadership in the development of revenue strategies which fulfill the mission and long–term strategic plan of the property under the general guidance and supervision of the Area Director of Sales & Marketing – Maldives for all the properties in the Maldives Cluster. The Area Manager, Revenue Management is responsible for the leadership and management of all aspects of revenue generation at the property to include pricing, distribution, promotions, group evaluation, leisure and corporate revenue production, food & beverage sales, market penetration, and for leading the reservation efforts.
Major Areas of Accountability
1. Exceed budgeted Occupancy, ARR and RevPAR expectations – consistently with growth of sales and optimization of ARR.
2. Implement key revenue strategies and actions, evaluate, and review results achieved.
3. Maintain a Forecast Accuracy of +/- 6% average for the next 30 day period.
4. Market Analysis – Competitive Set Analysis, Strategic Planning, and Market penetration.
5. Obtain required targeted results for online bookings through Optimization of Distribution Channels and effective yielding strategies.
6. Uphold revenue strategies used by the reservations team through coaching and training of Reservation Managers.
7. Coach and Council reservations team to effectively obtain required Mystery Shopper Scores in order to provide consistent customer service.
Revenue Management Strategies
1. Reviews financial reports on a regular basis, as the case may be (daily, weekly and at periodends).
2. Reviews the properties revenue goals with the individual department heads to ensure that each goal is achieved throughout the hotels/resorts.
3. Develops and monitors short and long term planning for the properties.
4. Keeps abreast with innovations and business orientations in the luxury hospitality industry.
5. Monitors current sector trends and concepts and makes recommendations to his/her superiors for appropriate implementation at the hotels/resorts.
6. Monitors the price-to-value ratio of the hotels/resorts and introduces changes where and when necessary.
7. Coordinates activities with the Area Director of Sales, General Manager, Hotel Manager, or Executive Assistant Manager in the evaluation of all group pieces of business
8. Actively involved in the creation of both forecasts and budgets.
9. Develop and maintain electronic distribution strategy to include 3rd party internet content and positioning, market manager relationships, and GDS distribution.
Budget and Financial Responsibilities
1. In coordination with Area Director of Sales, General Manager, Hotel Manager, or Executive Assistant Manager, prepares Annual Business Plan in the approved corporate format, including comparison analysis, variances and explanations.
2. Creates and monitors the price structure of the hotel, selling calendar and ensures that rates are in line with market expectations and sellable.
3. Prepares all price increases for the hotels/resorts for approval by General Manager, Hotel Manager, or Executive Assistant Manager.
4. Reviews the monthly financial results of the resort, prepares supporting commentary for review with General Manager, Hotel Manager, or Executive Assistant Manager.
5. Conduct weekly Revenue meetings involving strategies for the next year, competitive business analysis, financial room forecasts and budgets.
6. Produce daily, weekly, monthly core group of reports such as forecasts, market segmentation detail, channel distribution, and pace (group and transient).
1. Ensures that reservation training and development programs are implemented, in line with revenue management strategies and successfully accomplished.
2. Reviews reservation managers’ performance at least twice a year in line with the groups’ policy.
3. Is responsible for the recruitment of reservation department as well as mentoring of the reservations team
Other Areas of Responsibility
1. Chairs weekly revenue meetings.
2. Attends weekly/monthly sales meetings.
3. Attends monthly finance meetings.
4. Performs other assignments as defined by the specific needs of the properties or as directed by his/her superiors.
1. Emulate the Group’s Mission Statement to set the example for professional quality standards, communication, Ethics, works habits and practices and productivity.
2. Contributes to the morale and team spirit within the property by building and maintaining supportive and effective relationships with managers and associates alike, instilling confidence and demonstrating “chemistry”.
3. Provides leadership, motivation and training for managers and associates.
4. Provides the General Manager, Hotel Manager, or Assistant Executive Manager with regular forecasts and statistical information.
Performance Evaluation Criteria
1. Adherence to budget – Revenues
2. Flexibility and Interdepartmental cooperation
3. OCC, ARR, RevPAR and TORevPAR Growth exceeds expectations
4. Continued enhancement of property culture in accordance with property standards
5. Maintain a Forecast Accuracy of +/- 6% average for the next 30 day period