Director of Revenue Optimization

4 months ago

New Delhi, India Shangri-La Full time

CREATE MOMENTS OF JOY THAT TRULY MATTER:

Inspired by our Asian heritage, we obsess over the guest experience and seek to deliver hospitality from the heart. Our colleagues are our unique strength. We seek to hire and develop charismatic, dedicated and passionate individuals to make their dream career, a reality

Area of Responsibility

The position is responsible for a single hotel and based on property.

 Purpose

The purpose of this position is to allow the hotel to be fully focused on the optimization and profitability of all revenue streams and make pro-active, forward-looking and data-driven decisions about the commercial strategies.

The primary responsibility of the Director, Revenue Optimization is to lead the commercial strategy in the hotel as a business partner of the Sales and Marketing teams, and to build a culture to drive and optimize performance and market share.

DUTIES & RESPONSIBILITIES

Commercial Strategy

Maximize overall hotel revenues and drive market share, through the development and implementation of effective inventory, pricing and distribution strategies based on future demand forecasts, current trends and historic data. Make profitability a key factor in all decision-making processes. Develop inventory and pricing strategies for all market segments and channels, taking. Recommend actions to drive the most profitable business mix. Recommend on demand generating activities, tactical campaigns and marketing efforts to maximize performance on both low and high demand periods. Establish and own the effective rate structure for rooms and events across all market segments, in accordance with the corporate guidelines. Understand general market conditions and competitor's pricing strategies, react to any changes to maximize hotel performance and pricing accordingly. Understand the various distribution channels, including costs and connectivity. Effectively monitor and support rate parity, inventory- and data integrity across all channels. Lead inventory management and controls for rooms and function space, including room allocations, overbooking limit, optimize room type mix and utilization (paid/stayed) and displacement analysis. Participate in pricing for events, F&B menus, spa treatments and other operating departments.

Performance & Analytics

Monitor hotel performance, such as market share, segmentation and channel mix, forecasting accuracy, pace, channel profitability, etc to identify trends and coordinate actions accordingly. Produce an accurate 12-month rolling forecast for all revenue streams on monthly basis (day-byday forecast for rooms as minimum). Review and update the rooms forecast for the active booking window on a weekly basis. Communicate the forecast with key stakeholders for operational, financial and strategic purposes. Ensure hotel's competitive set remains relevant, recommend changes where applicable. Engage with the automated Business Intelligence tools provided, using the information available to take data-driven decisions and calculated risks to increase revenue and profitability. Share details about hotel performance with hotel and regional team on a monthly basis and provide them with insights and comments to interpret the results, highlighting risks and opportunities plus possible actions to take. Participate in business reviews and annual budget process. Lead the discussion related to revenue strategies, performance and market share.

Execution

Responsible for the effective implementation and compliance with all SLIM standards, policies and procedures related to RO or otherwise. Effective utilization and execution of all RO tools and systems. Ensure compliance with Best Rate Guarantee on internal channels. Maintain integrated pricing through all segments and channels. Act upon any instructions, forecasting, system configuration and other corporate requests within the deadline provided. Supervise and coordinate rate loading to be executed within the deadlines set.

 Revenue Optimization Culture & Leadership \

As a member of the hotel's Executive Committee, update the team on any RO related topics, performance, commercial strategies and market trends. Lead the hotel's weekly and monthly Revenue strategy meeting and participate in any commercial business review meetings. Clearly articulate the strategic vision and tailor the message to the relative audience. Act as a resource for hotel team, owner and asset management on RO related topics. Be a business partner for other disciplines, represent the value of RO and build bridges to inspire cross-collaboration. Engage and align with key stakeholders to create support for change. Share best practices with peers, Area Director RO, Regional VPRO and/or SLIM RO team. Represent Shangri-La, it's corporate values and Revenue Optimization philosophy in industry events.

 Talent Development

Recruit, train and retain any RO talent at the hotel. Be responsible for succession planning. Be a mentor to direct reports and create a development plan for each of them. Communicate high potentials to create career opportunities and create a culture of celebration of success. Engage with other departments and develop their skills on RO related topics where appropriate.

 Relationships

Hotel's Executive Committee and Department Heads Hotel's commercial and operational teams Regional team, including Regional VP, Revenue Optimization, Executive Vice President, VP Sales & Marketing/Regional Director of Sales & Marketing, Regional Director of Digital and other commercial stakeholders Owner and owner representative/asset management External partners, suppliers and channel representatives Peers at other hotel chains Schools, colleges and educational institutes

 JOB SPECIFICATIONS

Skill Sets & Competencies

Be a strategic leader, question the status quo and think outside the box. Focused on both the development and execution of the (long-term) commercial strategies. Good business, organizational and analytical skills. Be detail-oriented with the ability to translate results into understandable and actionable information. Be hands-on, with a focus on solution-driven actions. Ability to drive change. Knowledgeable and proficient in office and online tools and systems required for the function. Effectively communicate messages to different audiences, both written and verbally. Ability to facilitate discussion and present to diverse audiences in terms of size and experience level. Build and maintain relationships with all stakeholders. Ability to work independently and as part of a team, multi-task and work under pressure.

Experience & Qualification

Minimum 3 years' experience in Revenue Optimization roles. should have a past experience driving commercial strategies with focus on pricing, distribution and inventory optimization. College degree (Bachelor) in business, economics, marketing or strategy.

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