Marriott Franchised Revenue Manager in Chicago, Illinois
Job Number 20058106
Job Category Revenue Management
Location Aloft Chicago Mag Mile, 243 East Ontario Street, Chicago, Illinois, United States VIEW ON MAP
Brand Aloft Hotels
Position Type Management
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Thank you for your interest in this position. It is a job opportunity with one of Marriott International’s franchisees.
Please apply via email at: firstname.lastname@example.org
Additional Information: This hotel is owned and operated by an independent franchisee, Tishman Hotel Corporation. The franchisee controls all aspects of the hotel’s employment policies and practices, including the selection and hiring process. If you accept a position at this hotel you will be employed by a franchisee and not by Marriott International.
Aloft Chicago Mag Mile is looking for a Revenue Manager!
In this position, the Revenue Manger will be charged with maximizing overall hotel revenue and profit through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data.
The Revenue Manager is also responsible for determining the optimal mix of business and managing distribution strategies on all channels to increase revenue and drive market share and communicating the revenue management strategic vision to the hotel leadership team.
EssentialResponsibilities (Avg. % of time):
DriveMarket Share and Revenue Performance through proper pricing, inventory controlsand mix management.
Develop overall pricing strategy to include all market segments anddistribution channels.
Provide guidance on corporate transient negotiated account pricing.
Provide guidance on group availability and pricing. Ensure Group SellGuidelines and Target Rates are updated on a regular basis.
Ensure effective pricing strategies are in place to reflect asset strengthrelative to the competition and specific market conditions.
Effectively manage inventory and pricing strategy on all distribution channelsincluding Branded Web, 3rd Party Sites (OTAs), Customer Contact Centers (CCC),and Global Distribution Systems (GDS).
Focus on lowering distribution costs and driving room nights to branded web.
Coordinate with Field Marketing/Online team for optimization opportunities forincremental revenue and market share growth.
Communicate with Field Marketing regarding soft spot needs in hotel.
Closely monitor competitive pricing and understand impact of relative pricingdecisions on property performance.
Conduct regular price elasticity tests (price testing) in various marketconditions, measure results, and share key learnings.
Review and analyze STR data on a weekly and monthly basis with Hotel Teams.Identify and implement strategies for future demand scenarios.
Compile Weekly Analysis Reports to analyze key drivers of market shareperformance and understand overall effectiveness of strategies.
Group Business – Consult with Sales Managers on rate/inventory suitability ofall potential group business. – Oversee the management of Group Block activity.Ensure that group cut-off dates, rooming lists, group block activity (i.e.,pickup, wash) are being well managed
Proactively identify and analyze business opportunities from a net profitstandpoint and make the appropriate business decisions e.g. comparing weddingbusiness with a business meeting with rooms
Proactively identify and analyze peak days and shoulder days talking intoconsideration past performance as well as new industry trends. Possiblestrategies include LOS restriction, price decisions (BAR and NLRA), room typeyielding, oversell etc.
Implementation and Standards (20%):
Completeunderstanding and effective execution of all current and future RM tools.Includes PMS (Lightspeed), OneYield, , RPO, GPO, MarketVision, CI/TY, SmithTravel reports, Channel Reports, Pace reports, Hotelligence Report, our CompanyReports and any new tools or reports developed.
Ensure compliance to brand Standards for Rate Plans, Rate Categories, MarketSegment set up, inventory classification etc.
Ensure Best Rate Guarantee Compliance and maintain Rate Parity Agreements withThird Party Partners.
Clearlycommunicate strategic vision and objectives to hotel team on how to driverevenues and improve performance.
Effectively communicate the current selling strategies and necessary updates toimpacted departments
Provide hotel team with regular updates on hotel performance at minimum toinclude market share, market segmentation, channel metrics, etc.
Share best practices and key learning’s with peers and Corporate RM team.
Analyze past and current trends to develop strategies that will be used tocapture market share and drive profitability; track performance of thesestrategies as they materialize to evaulate continued or future implementation.
Key Meetings (10%):
Lead the property’s weekly Revenue Management/Forecast Meeting.
Represent hotel while participating in associate, client, and industryfunctions.
Contribute and provide Revenue Management Strategic Vision during all PropertyReviews and/or Pricing Meetings.
Produce accurate forecast on weekly and monthly basis
Proactively identify soft spot/need periods and work in cooperation with Salesand Marketing, as well as regional and corporate resources.
Lead the budget process for the top line room revenue numbers and work togetherwith Sales and Marketing on the pricing and contracting strategy for the nextyear
Education: Bachelor’s Degree required
Experience: Required a minimum of 2 years of revenue management or relateddiscipline experience, additional hotel management experience a plus.
Preferred: Marriott revenue management experience
This company is an equal opportunity employer.
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