Revenue Manager (Based in Bangkok)

2-4 years
2 months ago
Job Description

Job Description

Please note that this is not an exhaustive list of everything that needs to be done. Minor employees always find new ways to look after the business, their guests, and their colleagues. Within this, the key responsibilities for this position are:

  • To prepare weekly accurate 3 months forecast for hotel rooms revenue by Market Segment/Day.
  • To prepare monthly accurate 12 months forecast for hotel rooms revenue by Market Segment.
  • To actively participate in the production of the hotel's annual budget and to assist in the creation, update and evaluation of the hotel Sales and Marketing plan.
  • To set and effectively communicate the hotel pricing strategy by market segment with reference to market intelligence, buying patterns and pre determined seasonality.
  • To prepare and chair a weekly Revenue Meeting. Collate and distribute meeting minutes of notes on forecast and strategy changes, including weekly action plan.
  • To ensure compliance with brand, regional and owning company Processes and Procedures pertaining to Revenue Management.
  • To continuously manipulate availability & rates while ensuring parity across all distribution channels. This allows maximum flexibility to capture all market buying patterns while optimising REVPAR.
  • To introduce incremental revenue generators to maximise overall hotel revenue.
  • To provide the sales team with performance analysis of top producing accounts, thus providing required analysis to support pricing and re-contracting.
  • Set monthly targets of upselling revenue for front office and reservations department.
  • Monitor competitor availability and pricing on a daily basis, using all available tools such as Industry Reports, Internet, Ring Around, Dummy Bookings etc, and subsequently analyse & report actual performance versus competitive set.
  • Ensure available technology (PMS & RMS) is fully utilized and understood according to property specific business mix and requirements.
  • Ensure optimal use, and measure performance on all distribution channels, to ensure that fair market share is achieved if not surpassed, e.g. iHotelier, GDS, Minor Brands.com, Tour Operators, Small Luxury Hotels, Regional and Corporate Sales Offices.
  • Assist the Sales & Marketing Team in devising marketing campaigns, to ensure that the Hotel reaches the right people, at the right time, in the right place.
  • Maintaining high standards of data quality through system maintenance.
  • Responsible to drive maximum revenues through preferred booking channels by applying relevant pricing and inventory management.
  • Ensure weekly/monthly reporting to the regional/corporate office is adhered to in a timely manner.
  • Implement a database of historical data and supervise its continuous daily capture, and subsequently produce a calendar of events required for revenue and pricing decisions.
  • Carry out analysis of Booking Patterns & Market Trends, and ensure that these are recorded to facilitate future decisions.
  • Liaise with Corporate Marketing to ensure all promotion / programmes are fully understood andright for the business.
  • Understand the dynamics of the Global, National, Regional & Local Political and Economic Market, local Competitors and all demand generators for the destination.
  • Be responsible for all Recruitment & Selection into the Revenue/Reservation department.
  • Ensure an effective Training & Development Calendar is in place & adhered to, that all Team members have a Personal Development Plan and clearly defined objectives, and that a Succession Plan exists within the department.

Qualifications

  • Bachelor degree in hotel management or finance.
  • 2 years revenue and yield experience in the hospitality industry
  • Familiar with the hotel operations, available technology (PMS & RMS,IDeaS, SiteMinder, and all distribution channels).
  • Understand the dynamics of regional & local markets, as well as local competitors and events.
  • Certification of Revenue Management Executive from HSMAI Hospitality Sales & Marketing Association Institution is a plus.

Additional Information

Reporting into Hotel General Manager

Minor International is a Thai multi-national company based in Bangkok, Thailand. The three core businesses of Minor are hospitality, restaurants and lifestyle brands distribution, operated under subsidiary companies Minor Hotels, Minor Food, and Minor Lifestyle respectively