Hyatt Space Revenue Manager in NASSAU, United States
At Hyatt, we believe our guests select Hyatt because of our caring and attentive associates who are focused on providing efficient service and meaningful experiences.
This position will be a strategic part of the hotel's revenue team. The responsibilities of this individual are designed to improve group revenues and enhance yielding of hotel function space and guest room inventory. The successes will be measured by increased top line revenues of banquet and rooms revenues. This individual will analyze short and long term forecasting as well as implement function space and guest room block controls to ensure effective yield of guest room and meeting room space.
- Position Summary: *
The responsibilities of this individual are to improve group and events revenues and enhance yielding management of the hotel’s function space. Success in this position will be measured by an increase in function space occupancy (via uncovering booking and space opportunities) and growth in top line banquet and catering revenues. This individual must be highly analytical to achieve the above objectives. This individual will need to analyze historical group and event demand trends, assess the hotel’s space utilization and compile short and long term forecasts. This person will work closely with Revenue, Sales and Events team to ensure that all three departments are strategically managing the hotel’s function space to ensure the maximization of top line catering and events revenue (including but not limited to food, beverage and rental revenue streams). Strong leadership, communication and training skills are required for this position. The individual will be required to present and produce accurate revenue reports on a daily, weekly and monthly basis to support their business decisions, audit current procedures in play and rollout new ones that will help the hotel hit their revenue goals.
Position Responsibilities/ Essential Functions: *
- Maintain a daily focus on properly placing business into the meeting space and maximize revenue received from that space.
- Complete function space audits to identify and resolve conflicts, track tight turns, maximize revenue and identify opportunities to reduce labor. The following should be reviewed during the audit; conflicts, holds, setup/teardown times, program due dates (past due), forecasted revenue and contracted minimums (food, beverage, rental)
- Manage the space release process by working with the EPM to obtain updated programs, revised space/room block needs and maximizing Meeting Room Rental opportunities for addition of space.
- Review contracted space before it goes out on all bookings based on hotel set guidelines. This should then be reviewed again as part of the definite turnover process. Bring any issues or concerns to the DOS/E, DOE, or DRM for further review.
- Review the F&B STR (based on availability) report weekly and report on recommendations for future weeks and months to improve performance as part of hotel’s strategy meetings.
- Assess and track space opportunities including revenue achieved and unrealized revenue potential.
- Complete a function space audits to resolve conflicts, maximize revenue and reduce labor/energy.
- Function space audit should include researching historical space usage and F&B spend.
- The time frame for completing the audits is below: o Daily function space audit for 60 day o Weekly function space audit for 90 o Monthly function space audit for 2 year booking window
- Support the revenue team with the completion of banquets monthly forecast and budget submissions.
- Work closely with the revenue team to develop and communicate pricing and space availability, need dates, and open patterns.
- Work closely with DOS/DOE and clean up annual repeat groups’ function space according to most recent contract, program or agenda.
- Review all bookings outside of booking guidelines to support the DBR process. Focus on appropriateness of space and make recommendations for food and beverage minimums and rental.
- When needed, assist sales and catering managers in reviewing tentative business.
- Review and track any lost/turn-down business due to space for discussion in Sales Meeting and/or Strategy
- Maintain and update the free sell calendar and utilize Envision tools.
- Conduct a quarterly historical analysis of meeting space performance (food, beverage, rental) and rooms/space ratios to improve business decision process.
- Review and attend the following meetings: DBR, tentative review, strategy meetings, forecast meeting as well as any sales and events meetings that are relevant.
Other responsibilities include but are not limited to:
- Conduct availability, pattern, pricing, and placement of guest rooms and function space.
- Manage turn down process including but not limited to customer communication, trace management for future opportunities and/or duplicate booking elimination.
- Monitor daily sales and catering activity with new leads/referrals as well as turn down/lost business to ensure compliance of booking guidelines; specifically response time standards, function space guidelines, catering free sell procedures, accurate lost and turn down reasons/comments and lost/turned down business due to function space availability.
- Monitor daily changes of function space within definite bookings to avoid excessive additions post approval/turn over.
- Complete function space audits to resolve future conflicts and consolidate to reduce energy and labor expense.
Work with Sales, Catering and Convention Services Managers to manage function space placement and maximize revenue.
- Group and Events revenue performance as measured against budget
- Improve banquets profitability by way of managing the forecast of meal periods and average check
- Improve meeting space revenue utilization
- Market share as measured on the STAR report
- Revenue per Occupied Space and Revenue per Available Space Core Competencies:
Teamwork – Fosters collaborative relationships with other managing committee members and department heads in the hotel to effectively implement a wide range of revenue strategies. Able to educate others on the hotel team on sound revenue management strategies and principles.
Oral and Written Communications – Communicates effectively at all levels both verbally and in writing; responds appropriately to verbal and non verbal cues; can succinctly get messages across that have the desired effect. Educates team members on the strategies and trends of the hotel and local lodging market as a whole. Leadership: Matches leadership style to the needs of individuals and teams; delegates and provides guidance and coaching accordingly; a nticipates and quickly addresses skill or behavioral gaps before they create performance issues; identifies and recognizes good performance; does not tolerate poor performance and works quickly to get employees back on track. Models and expects from others the behaviors identified in Hyatt’s core values and Code of Business Conduct and Ethics.
Hyatt associates work in an environment that demands exceptional performance yet reaps great rewards. Whether it's career opportunities, job enrichment or a supportive work environment, if you are ready for this challenge, then we are ready for you.
- A true desire to satisfy the needs of others in a fast paced environment.
- Refined verbal and written communication skills.
Prefer 1-2 years previous hotel experience.
Education, Certification & Licenses:
High School Diploma or equivalent required
Bachelor’s Degree preferred
Preferred 1 year as Revenue Analyst, Sales Manager, Events Manager (event floor experience) in hotel revenue management organization.
Minimum of 2 years of experience preferred with Excel and related data management systems.
- Computer Skills: *
Technically skilled in managing all systems related to Sales, Events and Revenue Management. These include but are not limited to Hotel Industry Revenue Management Systems, Property Management Systems, Sales and Catering Systems, Passkey and Cognos or another form of business intelligence tool
Intermediate or Expert skill level in the use of the Microsoft Office suite of applications such as Excel, Word, Access, Powerpoint and Outlook
- Work Conditions, Physical and Sensory Requirements: *
- Most work tasks are performed indoors. Temperature is controlled by building environmental systems
- Must be able to it at a desk for up to 6 hours per day Walking and standing are required for the remainder of the work day
- Must be able to lift up to 20 pounds on an occasional basis
- Requires grasping, writing, standing, sitting, walking, listening and hearing ability and visual acuity.
- Requires manual dexterity to use and operate all necessary equipment
Must have finger dexterity to be able to operate office equipment such as computers, printers, 10 key adding machines, telephones and other office equipment as needed
- Additional Information: *
Requires understanding and analysis of financial statements
- Ability to develop and deliver training materials
- Ability to develop and deliver effective presentations
- Ability to manage group and interpersonal conflict situations effectively
Primary Location: Caribbean Islands-BS-Nassau
Organization: Grand Hyatt Baha Mar
Pay Basis: Yearly
Job Level: Full-time
Req ID: NAS000230
Hyatt is an equal employment opportunity and affirmative action employer. We do not discriminate on the basis of race, color, gender, gender identity, sexual orientation, marital status, pregnancy, national origin, ancestry, age, religion, disability, veteran status, genetic information, citizenship status or any other group protected by law.