Revenue Management is a discipline usually managed by Director of Sales working with Reservations Manager, Finance Manager & General Manager in strategic planning and overall business goals relating to the Revenue achievement:
> To ensure that all target market segments are developed for the long-term benefit of the hotel’s business
> To monitor in statistical format, the pick-up patterns, lead times and business trends
> To work with the team to promote internal sales and the up selling of all facilities
> To ensure that the Daily Selling Strategy is completed and checked before the morning meeting
> To work with the Group Revenue Manager in order to ensure that maximum benefit is obtained from all Electronic Distribution Systems
> To ensure that all Electronic Distribution Systems are up to date always to maximize distribution and accommodation yield.
> To ensure that close out and free-sale charts are up to date to gain maximum effect
> To carry out regular cross training between the Revenue Coordinators to ensure that everyone within the department can deal with all clients calls efficiently
> Ensure all daily, weekly and monthly revenue management reports are up to date and are completed in accordance with standardized company procedures
> Carry out ongoing refresher reservations training for all front office, and revenue staff on a regular basis, which is based around the effective implementation of the room’s management strategy
> Ensure that regular departmental meetings are planned, take place, and are minuted to ensure follow through
> Carry out regular team building events for the team to build on their individual strengths and ultimately on the team's strengths as a whole
> As part of the Business planning process, draw up a training plan for the department and implement along with scheduled team building activities for both the Revenue and House Departments
> Prepare the annual room statistics and assist in other sections on the Business Plan production
> To host weekly Revenue Strategy Meetings in order to communicate strategy and develop corrective action for dip date
> To be fully involved in the production of the business mix reports for the weekly rooms meeting, the monthly business meeting and the annual budgeting meetings
> Carry out regular Departmental meetings with your team to discuss and resolve any issues that may arise
> To participate fully in any training identified as beneficial to you and your role