Hyatt Revenue Manager in LONDON, United Kingdom
The primary task of a Revenue Manager is to support Andaz London Liverpool Street with all tasks of revenue management, maximize overall hotel revenue, and practice room’s revenue management through the implementation of effective pricing and distribution strategies, inventory management, and optimization techniques. Outperform direct competitors and continuously strive to increase market share backed by targeted promotions and working closely with sales and marketing by implementing appropriate promotions and optimal distribution.
Manage and oversee revenue management analytic functions to produce reporting that support and evaluate hotel business strategies. Work with individual hotels sales and marketing teams to meet the needs of the hotel to promote in all relevant distribution mediums. Produce accurate revenue forecasts that help set hotel goals and outgrow the competition. Display leadership qualities to engage with key hotel executives, mentor and develop revenue personnel.
· Positioning of the hotel
· Optimal segmentation / Business Mix
· Strategic planning
- · Formulate transient and group inventory restrictions to effectively manage demand, and displace demand in a way that maximizes occupancy
- · Develop pricing and relevant strategies towards the goal of maximizing revenue market share and inducing growth in hotel’s revenues
- · Define the hotel's sales strategies and implement pricing recommendations across all channels, Hyatt revenue systems and market segments
- · Analyze results of strategies and tactics deployed on a monthly basis. Provide all communication necessary to Director of Revenue, hotel teams, and cluster teams
- · Responsible for executing Hyatt revenue management initiatives, and maintaining required Hyatt standards
- · Manage revenue-forecasting process for the hotels to ensure that the accuracy of each forecast falls within Hyatt standards. This includes the 11-day, Monthly and Annual forecast as needed.
- · Support the hotels in monthly forecasting, annual budgeting process
- · Collaborate with the Hotels to develop and implement group pricing and inventory strategies for the entire group-booking cycle, based on demand projections and competitive shops.
- · Partner with the Digital & Content Cluster Team to implement E-Commerce & SEO/SEM goals.
- · Facilitate Daily Business Review meetings in accordance with Hyatt Revenue Management standards. Review all booking that fall out of established booking guidelines and provide feedback and recommendations
- · Effectively manage and maintain Hyatt revenue management systems including PRIO, Reserve in accordance with Hyatt revenue management standards and conduct periodic audits for maximum efficiency
- · Coordinate with the on-property front office teams to maximize revenue from the following programs; Front Desk up-sell programs, No-show & Cancellation charges, as well as sell out management effectiveness.
- · Work closely with the Event and Group team to ensure that hotel meeting space is properly utilized to maximize room and food and beverage revenue potential.
- · Develop working relationships with managers in the Group Sales, Catering Sales, and Convention Service staff on all properties as well as within the Regional Sales team, providing consultation on strategies for booking optimal group and catering business
- · Gather appropriate market intelligence on a regular basis, and keep a regular check on competition and changing dynamics in the market.
- · Engage and conduct business planning and budgeting
- · Overlook and cover distribution analyst personnel
- · Define and implement strategic planning
Primary Location: GB-ENG-London
Organization: Andaz Liverpool Street
Job Level: Full-time
Job: Revenue Management/Reservations
Req ID: LON002503
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