Hyatt Central Revenue Manager - Select in CHICAGO, Illinois
The Central Revenue Manager will identify and maximize all potential revenue opportunities for the hotels. 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. This position will report to the Corporate Director of Revenue Management and/or Vice President of Revenue Management. This positions oversees up to 9 hotels at a time.
The Central Revenue Manager will analyze various reports, provide written updates to the VP and Director of Revenue Management and CDRM and if necessary, complete action plans for the properties in order to create additional production/revenue. The Central Revenue Manager will also complete, analyze and report on Future Demand Strategy Analysis (PDSA). In addition, this position will review the Central Reservation System Daily, Denials, Call conversion reports, View Availability and Allotments. Key systems managed and utilized are: Reserve (Central Reservations System), Opera (Property Management System), PRIO (Revenue Management System), RMT (Rate Management Tool) and Cognos (reporting tool).
Daily • Review the PRIOProjectedDemand StrategyAnalysis (PDSA) for the next 4 weeks • Complete the Strategic Workflow Process for each hotel in the PRIO revenue management system. • Daily review of PRIO recommendations and implementation of room accommodation and rate inventory controls • Ensure group inventory is managed according to demand, by adjusting each Group’s pace, wash and growth in PRIO, as necessary • Implement strategies on 3rd party internet channels and ensure pricing is consistent and in parity for all distribution channels • Review and work with the hotel Sales Team on all Group Evaluations completed for groups. Group booking guidelines are to be followed.
Weekly • Conduct weekly strategy meetings with hotel strategy team at an agreed upon time • Send appropriate, relevant reporting and notes/follow up • Review of PRIO PDSAs for next 90 days; adjust strategies with inventory and rates as needed, as discussed with hotel strategy team • Review FPLOS for the next 90 days; adjust in PRIO as necessary • Review the FPLOS (Full Pattern Length of Stay) Settings report to ensure pricing is accurate for all 7 LOS’s • Review weekly 3rd party reports and make adjustments to strategies if needed • Conduct competitive set rate shops as needed. • Review rate shops with hotel strategy team - commenting on any noteworthy changes in comp set rates and identify selling strategies and market trends • Review Weekly STR (Smith Travel Research) report with hotel strategy team • Review Group pick-up numbers and cut-off dates • Assist with setting Pace, Wash and Growth in PRIO, for all Groups • Review Group forecasted numbers over compression/demand dates • Review Market segmentation production with hotel strategy team – discuss impact of future strategies based on trends and results • Review Booking source analysis with hotel strategy team
Monthly • Review the PRIO PDSAs for rolling 12 months • Ensure group strategies are in place for next 4-12 months out with hotel strategy team • Review Group guidelines and pricing with hotel Director of Sales • Review future months’ total Group forecast • Adjust pricing/inventory controls for 4-12 months out • Update RMT Pricing as needed in the RMT • Review the monthly Displacement report to review opportunity areas • Review negotiated account production – look for changes/tracking issues • Review TravelClick Hotelligence report opportunities as needed • Review historical month end statistics/segmentation
Annually • Assist with yearly Business Plan and strategic direction • Assist with Budgeting rooms revenue • Facilitate yearly rate review process for the next year • Participate in the Business Transient Strategy process
As Needed • Complete manual displacement analysis for crew or long term group business • Review additional PRIO reports as appropriate to assist with strategy direction and decisions
This is a work from home / remote support position.
• Minimum 4 years of revenue management experience in a hotel or a related field required. • Experience with multiple properties or multiple market experience is required • Must be able to work with and understand financial information and data • Previous supervisory responsibility required • Possess understanding of general hotel operations and the philosophy of yield management • Must be able to convey information and ideas clearly. • Must be able to evaluate and select among alternative courses of action quickly and accurately. • Must be able to work well in stressful, high-pressure situations, including ability to handle guest objections and disputes to satisfactory results. • Must be able to show initiative in job performance, including anticipating what needs to be done before it becomes a necessity. • Must maintain composure and objectivity under pressure. • Must be effective in handling problems in the workplace, including anticipating, preventing, identifying and solving problems as necessary. • Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust or modify to meet the constraints of the particular need. • Must be effective at listening to, understanding, and clarifying the concerns and issues raised by co-workers and revenue strategy teams at the hotels. • Must be able to work with and understand financial information and data, and basic arithmetic functions. • Understanding of general hotel operations and the philosophy of yield management • Ability to analyze and evaluate hotel performance data in order to develop and implement strategies to improve overall performance including improving resistance to occupancy ratios, production growth index, price elasticity etc. • Demonstrated experience and ability in the area of interpersonal skills and subject matter expertise to effectively influence key clients to endorse and implement market strategies at the hotel levels • Ability and proven experience in proactively cultivating and maintaining relationships with key internal and external stakeholders to gain support for revenue management initiatives. • Able to influence and get work done across multiple disciplines. • Demonstrated effective verbal and written communication skills for the purpose of providing information to clients, vendors, senior management and staff.
Required Education: • High school diploma required
Preferred Education: • Bachelor's Degree preferred
Required Computer Skills: • Must be proficient with Microsoft Office including Word and Excel, and be capable of creating documents, working charts, and spreadsheets
Additional Comments and Requirements • Must be able to evaluate and select among alternative courses of action quickly and accurately • Strong interpersonal and communication skills (verbal and written) • The ability to sell strategic decisions to gain optimal business mix • Ability to manage upward with good debate and consensus skills with objectivity • Must have the ability to travel as needed
This is a work from home / remote support position.
Primary Location: US-IL-Chicago
Organization: Hyatt Corporate Office
Pay Basis: Yearly
Job Level: Full-time
Req ID: CHI008470
Hyatt is an equal employment opportunity and affirmative action employer. We do not discriminate on the basis of race, color, gender, gender identity, sexual orientation, marital status, pregnancy, national origin, ancestry, age, religion, disability, veteran status, genetic information, citizenship status or any other group protected by law.