Revenue Manager

PARK REGIS INVESTMENTS PTE. LTD.; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A hospitality management company in Singapore is seeking a skilled Revenue Manager to maximize revenue through data analysis and pricing strategies. The role involves collaborating with various departments to enhance revenue performance and market competitiveness. Ideal candidates should have strong analytical skills and experience in revenue management.

Qualifications

• Proven experience in revenue management or related fields.
• Strong analytical and numerical skills.
• Excellent communication and interpersonal skills.

Responsibilities

• Analyse market trends to develop pricing strategies.
• Manage revenue optimization and financial forecasts.
• Collaborate with marketing for customer retention programs.

Job description

Job Summary

The Revenue Manager is responsible for maximising a company's revenue and profitability by analysing market trends, setting pricing strategies, and managing inventory. They use data and analytics to predict demand and optimise revenue across various channels. Their role is crucial in driving revenue growth and ensuring the company remains competitive.

Job Responsibilities

To be responsible for the revenue optimisation, including but not limited to the following:

• Gather and analyse competitive intelligence to derive insights about the competitive environment and business trends, improve competitive decision-making, and achieve marketing objectives.
• Analyse the demand forecast for the property and produce an accurate financial forecast for the property on a regular basis.
• Develop an overall pricing strategy for all market segments and distribution channels.
• Ensure consistent pricing across all channels through rate parity management.
• Manage the rate categories by implementing restrictions and controls to maximise revenue and profitability.
• Set and adjust room rates based on demand, seasonality, competitor pricing, and market trends.
• Manage room inventory allocations across different distribution channels.
• Manage and maintain packages, promo, and coupon codes.
• Directly responsible for managing distribution channels and revenue per available room (REVPAR) performance of the transient segment and all dynamic rates, and achieving budgeted targets.
• Ensure consistent pricing across all channels through rate parity management.
• Provide recommendations and quotes for Corporate and Leisure accounts.
• To assist in driving online business directly to the Hotel Brand website.
• Assist the sales team with rate creation on OPERA Cloud and rate loading to the GDS platform.
• Proactively provide data to the team to analyse and evaluate specific business segments.
• Liaison with the HQ Marketing and Brand Loyalty Team for global campaigns.
• Participate in planning and developing programs for attracting and retaining customers based on short—and long-term analyses of market conditions and hotel needs.
• Analyse market and competitor trends and key performance metrics and propose strategies and tactics accordingly.
• Collaborate with sales, reservations, and marketing to achieve optimal distribution channels, synergy, and cross-selling purposes.
• Participate in weekly yield meetings.
• Prepare all reports, including but not limited to the Daily Pick-Up Report, Weekly Reports, Monthly Reports & P&L Reports.
• Regular meetings with OTAs’ Market Managers on market trends and intelligence. Propose participating in seasonal/tactical campaigns to boost bookings over peak periods.
• Manage hotel revenue and be responsible for budget planning in collaboration with the general manager.