OverviewThe VP of Revenue Management & Distribution is responsible for the global strategy, as well as the day-to-day implementation of all revenue action plans aimed to maximize properties revenues and channel mix for optimal profitabiliy and market penetration. The VP of Revenue Management & Distribution will implement, oversee and manage all property revenue systems and programs to ensure established revenue goals are achieved. This role must harmonize the culture, mission, values and quality standards to ensure maximum potential is achieved. The VP is also responsible for fostering an exceptional climate of professional and personable service that ensures that long term satisfaction of employees, guests, clients, owners and investors.ResponsibilitiesBUSINESS RESULTS:Balance staffing levels and labor to achieve ideal employee, guest engagement and cost ratios.Create weekly forecasts and planning of operating staff and cost expenditures to correspond to forecasted sales and costs.Create a room revenue and expense budget to include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows and capital expenditures.Manage revenue stream and expenses to create the maximum return for partners, ensuring the long-term growth and success of the property.Manage releationship with Third Party Providers (OTA's, Wholesalers, etc.) and establish global and local strategies to maximize revenue and minimize costProtect and enhance the value of all property assets through appropriate programs and maintenance. Evaluate condition of equipment and property, conduct analysis for capital expenditure needs.Prepare annual budget and business plan, set financial goals and plan expenses to ensure the smooth operation.Monitor actual sales and revenues to determine variance and assess goal accomplishments. Adjust strategies and forecasts accordingly.Communicate a clear and consistent message during regular RevMAX meetings regarding business/department goals to produce desired results.Review and communicate financial and other reports according to policy and practice. Be prepared to support findings with analysis.Coordinate on-going research of the industry to detect market trends and related information for development of new marketing strategies. Make reasonable recommendations to improve potential business from various markets.Generate incremental revenue and brand awareness through the creation and implementation of brand relevant local events and promotions.Manage overall financial performance of the business by analyzing and reconciling financial reports, determining trends and areas of opportunity, advising others on cost control methods and resolving budgetary issues.Spearhead and coordinate revenue management strategies and plans with licensees for best global effectiveness LEADERSHIP & EXECUTION:Develop and execute comprehensive business plans in alignment with brand strategy. Monitor execution and results. Lead the property's analytical efforts, as applied to room sales.Translate strategy into specific business actions and individual accountabilities that achieve results. Maximize the potential and ensure proactive and accurate maintenance and management of all revenue driven systems.Work with a cross-functional team to establish, review and monitor brand standards, project milestones, resources requirements, as well as the systems and processes for monitoring performance. Communicate with leader regarding issues, risk and liability concerns, or other important business matters.Maintain presence during peak traffic periods. Monitor competitive set activities to properly adjust execution based on environment. Ensure all property policies and procedures are fully implemented in all departments, including health and safety guidelines.Operate ethically to protect the Company brand. Utilize programs designed to help Save The Planet. Create expectations, lead people, manage processes and hold people accountable for the agreed upon activities and timetables.Establish and build agreement among team members for project milestones, resources requirements and measures of success. Champion change, ensure brand and business initiatives are implemented. Collaborate with internal and external business partners.Consistently monitor Quality Assurance Program results, create and execute action plans where needed. GUEST ENGAGEMENT:Gather first hand guest information and use it for improvements in products and services. Act with guests in mind. Monitor guest satisfaction scores and review guest feedback with direct reports, ensuring appropriate corrective action is taken when necessary. Monitor online reviews and social content to identify revenue and customer service opportunitiesConduct property walk-through as necessary to build rapport, assess engagement, develop relationships and promote repeat business. Resolve guest complaints and implement change to prevent future issues. Maintain relationships with key clients, owners and investors.Promote the organization in and out of industry and at relevant trade associations.EMPLOYEE ENGAGEMENT:Adhere to the recruitment process. Hire the best talent available from inside or outside the organization. Promote a positive work environment for all employees, while ensuring that all employment related processes and documentation are in compliance with local laws and regulations. Provide analytical research documents and reports in support of the annual rate and budget processes as well as development of the sales and marketing plan.Train, supervise, coach, and counsel staff. Participate in the induction of new staff members to Company culture. Train and empower employees to exercise good judgment to make decisions regarding service, product quality, and guest satisfaction by adhering to company standards. Maintain effective communication, giving direction, support, timely feedback and recognition of performance. Create appropriate developmental plans that help individuals define career goals and identify the skills needed to achieve them. Set goals and expectations for employees using performance management tools. Hold employees accountable for successful performance. Conduct regular meetings with staff to communicate global programs, implement new products and procedures, and discuss areas of opportunities, special events, and other activities. Create a positive environment in which all employees have the ability to maximize their potential. Maintain low staff turnover rate and high morale.Foster open dialogue. LEARNING & APPLYING EXPERTISE:Manage overall financial performance of the business by analyzing and reconciling financial reports, determining trends and areas of opportunity, advising others on cost control methods and resolving budgetary issues. Make good decisions based upon a mixture of analysis, knowledge, experiences and judgment. Interpret results from reports and business intelligence data and apply it to day to day strategies.Contribute to the improvement of processes and implementation of strategies based on results from tests and campaigns.Challenge business norms and accepted thinking to improve effectiveness and drive results. Use technology effectively to communicate and manage throughout the business.Use business analysis, competitor and consumer insights to provide understanding, direction and guidance around key initiatives.This job description reflects management's assignment of essential functions, it does not prescribe or restrict the tasks that may be assigned. QualificationsMINIMUM (EDUCATION, EXPERIENCE, ATTRIBUTES & TRAVEL):Must have at least 10 years experience in hospitality management, including 5 years in revenue management.Must have a bachelor's degree in hospitality management or related field from an accredited institution.Deep understanding of lifestyle hotelsMust have extensive knowledge of electronic distribution systems and connectivity schemes.Must have extensive knowledge of supply and demand laws and competitive margin scenarios.Must be a self starter with an entrepreneurial spirit.Must be able to travel as required.SKILLS (LANGUAGE, MATHEMATICAL, RECHNICAL & REASONING):Comprehend and use technical or professional language, either written or spoken, to communicate complex ideas. Must possess superb communication and listening skills, excellent speaking, reading and writing. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization. Multiple language abilities preferred, fluency in English required.Perform complex quantitative calculations or reasoning using algebra, geometry, statistics, or abstract symbols. Deep understanding of mathematical concepts, algorithmic concepts and statistical pattern recognition is a must.Excellent Microsoft Office skills. Ability to effectively deal with internal and external customers and staff, some of whom will require high levels of patience, tact, and diplomacy.Use logic to define problem, collect information, establish facts, draw valid conclusions, interpret information and deal with abstract variables for unique or unfamiliar situations.
Website : http://www.execunet.com