Director of Revenue Management - Sofitel Riyadh

Company Description

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Job Description

Main Responsibilities :

1. Play an active role in the strategic planning, marketing plan and budgeting processes, challenging the strategy with the General Manager & Director of Sales and Marketing.
2. Prepare the annual topline budget for approval and track achievement, across all revenue streams: rooms, F&B, MICE, Spa & other ancillaries.
3. Monitor transient and group book pace to determine pricing and availability controls for all reservation distribution sources.
4. Monitor key indicators of hotel performance. Chairing and preparing analysis & materials for the weekly revenue strategy meetings.
5. Track and analyze competitive set pricing and yield strategies, gaining the ability to predict the competitive set reaction to changes in the marketplace.
6. Produce and analyze current and historical demand including lost business turndown, rooms on the books, competitive set and market trends to aid in more accurate forecasting.
7. Monitor third party intelligence sources to identify revenue opportunities (OTA, GDS, market studies). Keep current with industry changes and how it may impact demand.
8. Work with Director of Sales and Director of Marketing teams to encourage strategic selection of the right piece of business, determine effective and engaging offers.
9. Work with Reservations and Front Desk to ensure the highest level of guest service is maintained while maximizing profit. Provides training on upselling and negotiating techniques.
10. Revenue Culture: Liaise with all teams to ensure revenue management principles are understood and followed. Provides guided learning so that all areas of the hotel that impact revenue are fully aware of the hotel Revenue Management strategies and understand their role in the plan.
11. Maintain and improve rate standards, policies, and procedures.
12. Lead/manage a team, whether functionally or hierarchically (“RM apprentices”, reservation, distribution desks).

Personal Competencies :

1. Communicates with impact, clearly and consistently to ensure understanding (in English and Arabic languages).
2. Seeks opportunities to self-develop and is detail minded, highly organized and time efficient to ensure goals are met.
3. Monitors market trends and understands their impact on the strategic plans of the business.
4. Provides practical solutions to complex operational problems.
5. Identifies opportunities for business improvement and change. Develops and implements change initiatives.
6. Understands financial data and the operations of their own and other departments.
7. Coordinates, directs, coaches and monitors team resources and activities to achieve goals.

Functional Competencies :

1. Looks for relevant information and builds understanding of events and economic issues impacting the room revenue of the hotel. Understands competition and can highlight La Maison offers differentiators from the competition.
2. Leads Revenue Management aspects of strategic planning, marketing planning, budgeting processes, and tactical initiatives across all profit centres (e.g., analyses for optimal customer mix and applies findings).
3. Optimizes the total revenue in the business scope, by creating accurate forecasts and monitoring the global revenue performance of the hotel (by distribution channel, segment, seasons, day patterns…).
4. Has a sound understanding of Accor/La Maison RM & Pricing offers in his business scope (specific region, brand, segment...) and beyond (global offers). Builds a RM & Pricing offers’ value proposition for all the hotel revenue streams of the hotel.
5. Has full command, administers and is recognized in the hotel as a master user/trainer of RM, Pricing & Distribution systems and data/analytics applications.
6. Promotes and acts as an ambassador of Revenue Management & Pricing practice and application in the hotel and beyond (external partners and stakeholders) through decision making, training, mentoring, and the delivery of key presentations.

Qualifications

1. At least 5 years of experience in a full-time Revenue Management position in hospitality or another industry.
2. Experience/exposure in the hotel operations and/or in luxury operations.
3. Graduate degree in university or school.
4. Analytical approach to problem solving, strategic thinker.
5. Strong numerical reasoning.
6. Strong business acumen.
7. Team leader, with the ability to inspire. Ability to work cohesively as part of a team.
8. Demonstrate strong communication skills both verbally and in writing.
9. Composed and confident in dealing with luxury clientele.
10. Command of PMS, CRS, RMS, GDS & channel management systems.
11. Good level in Excel and database management.
12. Strong knowledge of revenue, pricing, market intelligence digital platforms.