Revenue Manager
Company: Hyatt Regency San Francisco Downtown SOMA
Location: Daly City
Posted on: September 12, 2023
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Job Description:
Highgate Hotels
Highgate is a leading real estate investment and hospitality
management company widely recognized as an innovator in the
industry. Highgate is the dominant player in major U.S. gateway
cities including New York, Boston, Miami, San Francisco and
Honolulu, with a growing Caribbean and Latin America footprint. The
hospitality forward company provides expert guidance through all
stages of the property cycle, from planning and development through
recapitalization or disposition. Highgate has a proven record of
developing its diverse portfolio of bespoke lifestyle hotel brands,
legacy brands, and independent hotels and resorts with contemporary
programming and digital acumen. The company utilizes
industry-leading revenue management tools that efficiently identify
and predict evolving market dynamics to drive outperformance and
maximize asset value. With an executive team consisting of some of
the most experienced hotel management leaders, the company is a
trusted partner for top ownership groups and major hotel brands.
Highgate maintains corporate offices in New York, Chicago, Dallas,
London, Miami, and Seattle. www.highgate.com .
Location
Hyatt Regency San Francisco Downtown SOMA is an artful blend of
chic design and exemplary service. The hotel is conveniently
located in the South of Market district and is within walking
distance to premier Union Square shops and designer boutiques,
trendy SOMA dining and lounge hot spots, the Powell Street Cable
Car Terminal and Market Street Vintage Trolley Car line. Explore
the Artisan shops at the Ferry Building and experience local
favorite's in Chinatown, Fisherman's Wharf. Mission District and
North Beach. This modern, ultra-chic hotel has 681 guestrooms.
Overview
The Revenue Manager is responsible for identifying and maximizing
all potential revenue opportunities for the hotel. In today's
lodging environment, understanding channel and yield management is
critical for maximizing revenues. The Revenue Manager is
responsible for formulating long and short-term Revenue Management
strategies and for overseeing their successful execution towards
the advancement of RevPAR market share. This includes the analysis
of revenue potential generated by the transient and group market
segments as well as the market segmentation within transient and
group. One will combine this with catering and space utilization as
well as other revenue considerations (i.e.: golf, spa, etc.) in
order to determine the appropriate mix of business to achieve
revenue potentials every day of every year.
Responsibilities
- Establish hotel pricing levels in all segments.
- Responsible for the daily room inventory management process and
daily pricing process.
- Monitor competitor rates, positioning, strategies and data;
maintain understanding of the dynamics of the local market and
demand generators and present appropriate action plans to
management.
- Monitor and communicate fluctuations in occupancy to operational
departments so they can effectively manage staffing requirements
and increase efficiency.
- Analyze local events and activities and project the effect of
opportunities they create.
- Understand the macro and micro-economic variables affecting
supply and demand in the local marketplace, and use this knowledge
to create accurate operational and financial room revenue
forecasts.
- Perform unconstrained demand analysis to determine optimal
business mix.
- Responsible for all short and long term forecasts including
Weekly Forecasts, 30 60 90 Forecasts, In the month forecasts, and
Full year forecasts.
- Oversee process for evaluating all opportunities for contracted
business (group, wholesale, corporate negotiated, etc.) presented
through the Sales department. Ensure that process enables high
speed of response while maximizing profits.
- Responsible for the maintenance of any software programs which
contribute to the management of rooms revenue, including the CRS,
RMS, PMS and Sales & Catering system.
- Monitor RevPAR index on STR report and provide critical analysis
of performance on weekly and monthly basis.
- Prepare annual Rooms revenue budget.
- Chair weekly Revenue Strategy meetings in order to formulate and
disseminate strategies and tactics. Ensure that prior decisions are
re-visited in this forum in order to evaluate their effectiveness
and promote learning.
- Prepare and present quarterly presentations to ownership.
- Ensure all distribution channels have correct content and
pricing.
- Develop and maintain a close relationship with the market manager
of Third Party Intermediaries to maximize the opportunities with
these channels.
- Develop and maintain relationships with other market revenue
managers and Directors of Revenue to create a network of peers in
your community
- Coordinate survey activities involving marketing and service
opportunities to further enhance revenue potential.
- Actively develop all subordinates, ensuring that they have
opportunities to grow their Revenue Management and leadership skill
base through personal attention, internal/external training and
participation in industry events.
- Responsible for Internet Marketing such as pay per click
campaigns, e-mail blasts, GDS advertising, etc.
- Establish and communicate sales strategy for day, week, month and
rolling 12 months.
- Communicate any strategy changes or update any calendars for the
sales team to use.
- Analyze prior night successes: Did the hotel sell out? Were the
right decisions made for overselling? Address the opportunities in
Highgate Hotel Business Review (HHBR) morning meeting.
- Place test calls to Central Reservation Office (CRO) and property
to ensure accuracy of rate quoting, restrictions and selling
approach.
- Manage and communicate group cut off dates. Run a group rooms
control log (GRC) as well as pick up report from Property
Management System (PMS) for 90 days. Verify pick up to actual
block, cut off date, and whether or not you should extend, etc.
- Update the Daily Market Segment Analysis (DMSA). Ensure accuracy
from the daily Flash Report. Review actual performance versus
Potential performance.
- Complete all required month end reports with detailed analysis.
If necessary, complete action plans for the property to follow to
create additional production/revenue.
- Review Hotelligence reports for trends, booking windows and
sources of business as well as rates compared to competition.
Keywords: Hyatt Regency San Francisco Downtown SOMA, Daly City , Revenue Manager, Executive , Daly City, California
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