Director of Revenue Management
Nashville, Tennessee, United States of America
Full Time
1 week ago
Key skills
LeadershipStrategic PlanningBudgetingMentoringCommunicationSales
About this role
Omni Nashville Hotel
The Omni Nashville Hotel was specially created to be an authentic expression of Nashville’s vibrant music culture. Across from the Music City Center, the luxury hotel is a one-of-a-kind experience, fully integrated with an expansion of the Country Music Hall of Fame and Museum on four levels. Located on Fifth Avenue between Demonbreun and Korean Veterans Blvd. The Omni Nashville Hotel design is a modern expression of the city’s distinct character, incorporating natural materials, exposed steel and regional limestone. The multi-story hotel and expanded museum shares meeting and entertainment space and brings additional restaurants and retail venues to this dynamic destination in downtown Nashville.
The Omni Nashville Hotel’s associates enjoy a dynamic and exciting work environment, comprehensive training and mentoring, along with the pride that comes from working for a company with a reputation for exceptional service. We embody a culture of respect, gratitude and empowerment day in and day out. If you are a friendly, motivated person, with a passion to serve others, the Omni Nashville may be your perfect match.
Omni Nashville is seeking a highly skilled and experienced Director of Revenue Management to join the team. This role will strategically coordinate the revenue management processes and procedures for hotel’s guest room, F&B, meeting space, and ancillary departments’ revenues (Total Hotel Revenue Management). This is accomplished by managing and maintaining group and transient inventory controls, developing, monitoring, and adjusting sales and pricing strategies for all revenue areas, analyzing demand factors, forecasting, and budgeting, competitive analysis, and maintaining distribution channel data integrity.
Responsibilities
• Lead a consistent and robust revenue management program consistent with upscale, full-service hotels and resorts
• Provide strategic leadership to the Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments, contributing to superior revenue growth and overall profitability of the hotel
• Support the General Manager, Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments by providing pertinent information and tools to enhance the property’s sales and marketing efforts and decision-making processes
• Identify, communicate, and execute opportunities to increase incremental revenue based on historical demand, regional, seasonal, and competitive influences and market, group performance, price sensitivity by market segment, demand, and reservation costs across multiple sales channels
• This position, with assistance from the Director of Sales & Marketing, will provide short-term and long-term rooms revenue projections, including weekly, monthly, quarterly, and full-year projections
• Effectively incorporate Omni Hotels & Resorts revenue management philosophy in all aspects of sales, marketing, and operations, including training and information sessions on behalf of all revenue generating positions
• Conduct weekly revenue management meetings and as chair give synopsis of past strategies versus results. Lead the discussion on current/future issues. Stimulate discussions and analysis to determine effectiveness of selling, pricing and distribution strategies and determine the appropriate mix of business that will allow hotel to maximize both RevPAR and Market Share through appropriate mix management
• Superior knowledge of CRS, RMS, and PMS systems to manage and maintain group and transient inventory and pricing controls for designated hotels (including as needed on weekends)
• Responsible for the monitoring/maintenance of software programs including interfaces that support the management of room revenue
• Support the company in technical transitions aimed at supporting the management of room revenue as they occur
• Work with Convention Services and Reservations as needed to ensure effective and efficient management of group inventory daily – provide direction when needed on cutoff date extensions and additions to inventory
• Attend each hotel’s weekly group-pick-up meetings to ensure group inventory management is in place. Lead meetings when needed
• Coordinate and implement updates for Transient Protected in Sales System for the 1 – 5-year window
• Utilize Omni’s Space Demand system to analyze trends and provide insight for meeting space pricing and revenue optimization
• Lead development of key budgetary and forecast goals and objectives for Transient market segments with input on Group market segments. Develop budget to actual feedback and comparisons and report monthly achievements
• Prepare 30-60-90 Day Transient Revenue Forecast monthly for presentation. Develop, monitor, and maintain all short term and long-term forecasts as outlined by company standards with forecasting to be demand-based to coincide with pricing strategy
• Research, identify and develop revenue management opportunities, techniques and practices that contribute to superior RevPAR growth and market share increase
• Explore market mix variations that would stimulate revenues
• Analyze trends by market segment based on day of week, booking window and season to better develop pricing strategies
• Transform theoretical knowledge gained from analysis into the business cycle, booking cycle and long-term strategic planning
• Understand current Demand Generation climate and provide recommendations
• Review all daily, weekly, and monthly booking pace reports for analysis on pace to recommend strategy changes
• Monitor LOS and hurdle strategies recommended by RMS for market segments to maximize revenue contribution
• Review each property’s annual pricing configuration, provide recommendations, and implement
• Review hotel’s as well as competitions’ rate shops for multiple GDS, OTA and meta channels to ensure proper positioning of each hotel and assess competitive environment, along with maintaining parity
• Review Demand calendars, convention calendars and city event calendars to keep abreast of all demand generators. Ensure each property contact utilizes all necessary demand information when planning strategies
• Oversee development of pricing strategies for all local negotiated business, as well as global/GDS accounts based on market analysis in Agency360
• Analyze marketplace reports such as STR & Demand 360, Agency 360 and other available applications and present the revenue opportunities in the analysis
• Research and evaluation of secondary Distribution channels to identify strategic partnerships and affiliations to maximize distribution for the hotels or organization
• Demonstrate understanding of channel management and optimization through pricing and inventory management
• Manage inventory and rate structure in all channels to optimize revenues and margins
• Work with the field marketing and digital teams to optimize all channels and social networks with relevant and timely offers
Qualifications
• Excellent oral and written communication skills
• Excellent organization skills, manages time well, correctly prioritizes and is flexible
• Ability to work well under pressure and meet deadlines
• Ability to manage and collaborate with outside departments and agencies
• IDEAS experience preferred
• Strong interpersonal skills and possession of a full understanding of professional business ethics, decorum, and social skills
• Proficient in use of Microsoft Word, Excel, and PowerPoint
• Understands Revenue Management theory and practice for rooms, F&B, and other revenue streams
• Detail-oriented
• Ability to perform critical analysis
• Appropriate professional appearance and demeanor
• Demonstrates self-confidence, energy, and enthusiasm
• Ability to deliver presentations in a concise, well-organized manner
• Bachelor's degree preferred or equivalent combination of education and experience
• Minimum 3-5 years of experience as a Director of Revenue Management in full-service/upscale hotels
Omni Hotels & Resorts is an equal opportunity/AA/Disability/Veteran employer. The EEO is the Law poster is available using the following link:
EEOC is the Law Poster.
Omni Hotels & Resorts does not discriminate on the basis of any protected category with respect to the payment of wages.
If you are interested in applying for employment with Omni Hotels & Resorts and need special assistance to apply for a posted position, please send an email to: applicationassistance@omnihotels.com.
The Omni Nashville Hotel was specially created to be an authentic expression of Nashville’s vibrant music culture. Across from the Music City Center, the luxury hotel is a one-of-a-kind experience, fully integrated with an expansion of the Country Music Hall of Fame and Museum on four levels. Located on Fifth Avenue between Demonbreun and Korean Veterans Blvd. The Omni Nashville Hotel design is a modern expression of the city’s distinct character, incorporating natural materials, exposed steel and regional limestone. The multi-story hotel and expanded museum shares meeting and entertainment space and brings additional restaurants and retail venues to this dynamic destination in downtown Nashville.
The Omni Nashville Hotel’s associates enjoy a dynamic and exciting work environment, comprehensive training and mentoring, along with the pride that comes from working for a company with a reputation for exceptional service. We embody a culture of respect, gratitude and empowerment day in and day out. If you are a friendly, motivated person, with a passion to serve others, the Omni Nashville may be your perfect match.
Omni Nashville is seeking a highly skilled and experienced Director of Revenue Management to join the team. This role will strategically coordinate the revenue management processes and procedures for hotel’s guest room, F&B, meeting space, and ancillary departments’ revenues (Total Hotel Revenue Management). This is accomplished by managing and maintaining group and transient inventory controls, developing, monitoring, and adjusting sales and pricing strategies for all revenue areas, analyzing demand factors, forecasting, and budgeting, competitive analysis, and maintaining distribution channel data integrity.
Responsibilities
• Lead a consistent and robust revenue management program consistent with upscale, full-service hotels and resorts
• Provide strategic leadership to the Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments, contributing to superior revenue growth and overall profitability of the hotel
• Support the General Manager, Rooms, Hotel Sales & Marketing, Food & Beverage, and Other Departments by providing pertinent information and tools to enhance the property’s sales and marketing efforts and decision-making processes
• Identify, communicate, and execute opportunities to increase incremental revenue based on historical demand, regional, seasonal, and competitive influences and market, group performance, price sensitivity by market segment, demand, and reservation costs across multiple sales channels
• This position, with assistance from the Director of Sales & Marketing, will provide short-term and long-term rooms revenue projections, including weekly, monthly, quarterly, and full-year projections
• Effectively incorporate Omni Hotels & Resorts revenue management philosophy in all aspects of sales, marketing, and operations, including training and information sessions on behalf of all revenue generating positions
• Conduct weekly revenue management meetings and as chair give synopsis of past strategies versus results. Lead the discussion on current/future issues. Stimulate discussions and analysis to determine effectiveness of selling, pricing and distribution strategies and determine the appropriate mix of business that will allow hotel to maximize both RevPAR and Market Share through appropriate mix management
• Superior knowledge of CRS, RMS, and PMS systems to manage and maintain group and transient inventory and pricing controls for designated hotels (including as needed on weekends)
• Responsible for the monitoring/maintenance of software programs including interfaces that support the management of room revenue
• Support the company in technical transitions aimed at supporting the management of room revenue as they occur
• Work with Convention Services and Reservations as needed to ensure effective and efficient management of group inventory daily – provide direction when needed on cutoff date extensions and additions to inventory
• Attend each hotel’s weekly group-pick-up meetings to ensure group inventory management is in place. Lead meetings when needed
• Coordinate and implement updates for Transient Protected in Sales System for the 1 – 5-year window
• Utilize Omni’s Space Demand system to analyze trends and provide insight for meeting space pricing and revenue optimization
• Lead development of key budgetary and forecast goals and objectives for Transient market segments with input on Group market segments. Develop budget to actual feedback and comparisons and report monthly achievements
• Prepare 30-60-90 Day Transient Revenue Forecast monthly for presentation. Develop, monitor, and maintain all short term and long-term forecasts as outlined by company standards with forecasting to be demand-based to coincide with pricing strategy
• Research, identify and develop revenue management opportunities, techniques and practices that contribute to superior RevPAR growth and market share increase
• Explore market mix variations that would stimulate revenues
• Analyze trends by market segment based on day of week, booking window and season to better develop pricing strategies
• Transform theoretical knowledge gained from analysis into the business cycle, booking cycle and long-term strategic planning
• Understand current Demand Generation climate and provide recommendations
• Review all daily, weekly, and monthly booking pace reports for analysis on pace to recommend strategy changes
• Monitor LOS and hurdle strategies recommended by RMS for market segments to maximize revenue contribution
• Review each property’s annual pricing configuration, provide recommendations, and implement
• Review hotel’s as well as competitions’ rate shops for multiple GDS, OTA and meta channels to ensure proper positioning of each hotel and assess competitive environment, along with maintaining parity
• Review Demand calendars, convention calendars and city event calendars to keep abreast of all demand generators. Ensure each property contact utilizes all necessary demand information when planning strategies
• Oversee development of pricing strategies for all local negotiated business, as well as global/GDS accounts based on market analysis in Agency360
• Analyze marketplace reports such as STR & Demand 360, Agency 360 and other available applications and present the revenue opportunities in the analysis
• Research and evaluation of secondary Distribution channels to identify strategic partnerships and affiliations to maximize distribution for the hotels or organization
• Demonstrate understanding of channel management and optimization through pricing and inventory management
• Manage inventory and rate structure in all channels to optimize revenues and margins
• Work with the field marketing and digital teams to optimize all channels and social networks with relevant and timely offers
Qualifications
• Excellent oral and written communication skills
• Excellent organization skills, manages time well, correctly prioritizes and is flexible
• Ability to work well under pressure and meet deadlines
• Ability to manage and collaborate with outside departments and agencies
• IDEAS experience preferred
• Strong interpersonal skills and possession of a full understanding of professional business ethics, decorum, and social skills
• Proficient in use of Microsoft Word, Excel, and PowerPoint
• Understands Revenue Management theory and practice for rooms, F&B, and other revenue streams
• Detail-oriented
• Ability to perform critical analysis
• Appropriate professional appearance and demeanor
• Demonstrates self-confidence, energy, and enthusiasm
• Ability to deliver presentations in a concise, well-organized manner
• Bachelor's degree preferred or equivalent combination of education and experience
• Minimum 3-5 years of experience as a Director of Revenue Management in full-service/upscale hotels
Omni Hotels & Resorts is an equal opportunity/AA/Disability/Veteran employer. The EEO is the Law poster is available using the following link:
EEOC is the Law Poster.
Omni Hotels & Resorts does not discriminate on the basis of any protected category with respect to the payment of wages.
If you are interested in applying for employment with Omni Hotels & Resorts and need special assistance to apply for a posted position, please send an email to: applicationassistance@omnihotels.com.