Revenue Manager

Job description

Job Summary:

As a Revenue Manager at Onyx Arjaan by Rotana, you will be responsible for maximizing revenue and profit through effective pricing and inventory management strategies.

You will oversee the revenue generation process, analyze market trends, and develop pricing strategies to optimize revenue across all revenue streams.
Job Responsibilities:

• Develop and implement revenue management strategies and tactics to drive revenue growth and increase market share.
• Conduct regular analysis of market trends, competitor pricing, and demand to forecast future revenue opportunities.
• Create and manage pricing strategies, including room rates, packages, and promotions, to optimize revenue and occupancy levels.
• Monitor and review competitor pricing and strategies to stay ahead of market trends and make necessary adjustments.
• Collaborate with sales, marketing, and reservations teams to develop effective revenue management strategies and achieve business objectives.
• Conduct regular revenue meetings with key stakeholders to discuss revenue opportunities, forecast potential challenges, and develop effective strategies.
• Utilize revenue management systems and tools to generate reports, analyze data, and make decisions.
• Monitor and analyze key performance indicators (KPIs) to measure the effectiveness of revenue management strategies and make necessary adjustments.
• Identify revenue leakage and implement corrective actions to ensure maximum revenue capture.
• Stay updated on industry trends, best practices and revenue management to continuously enhance revenue optimization efforts.
  Candidate Requirements:
  • Bachelor’s degree in Hospitality Management, Business Administration, or a related field.
  • Proven experience in revenue management, pricing, or similar roles within the hospitality industry.
  • Indepth knowledge of revenue management principles, strategies, and best practices.
  • Strong analytical skills with the ability to collect, analyze, and interpret complex data.
  • Proficiency in revenue management systems and tools, such as RMS, PMS, and CRS communication and interpersonal skills to effectively collaborate with crossfunctional teams.- problem-solving and decision-making abilities.
    • Attention to detail and ability to work effectively under pressure.
    • Flexibility to adapt to changing market conditions and business needs.
    • Ability to multitask and prioritize tasks to meet deadlines.
    • Knowledge of local market trends and competitor analysis is a plus.Skills

      Skills:

      • Strong analytical skills: A Revenue Manager at Onyx Arjaan by Rotana must possess strong analytical abilities to analyze market trends, competitor data, and historical performance to make informed revenue management decisions.
      • Excellent communication skills: Effective communication is essential for a Revenue Manager to interact with various departments within a hotel, including sales, marketing, and finance, as well as with external partners such as travel agencies and corporate clients.
      • Attention to detail: The Revenue Manager needs to have a keen eye for detail to ensure forecasting, pricing, and revenue optimization.
      • Financial acumen: A solid understanding of financial concepts and the ability to interpret financial reports is crucial for a Revenue Manager to maximize revenue and identify areas for improvement.
      • Knowledge of revenue management systems: Experience with revenue management systems such as RMS, CRS, and PMS is highly desirable for a Revenue Manager to effectively monitor and control inventory and pricing strategies.
      • Strong negotiation skills: The Revenue Manager will often engage in negotiations with travel agencies and corporate clients to secure profitable contracts, so strong negotiation skills are essential.solving ability: As a Revenue Manager, you will face various challenges related to pricing, inventory management, and demand forecasting. The ability to think critically and find creative solutions is key.
        • Team player: Collaboration with other departments and teamwork are vital in achieving revenue goals. The Revenue Manager should be able to work effectively in a team environment.
        • Knowledge of market trends and competition: Staying updated on market trends, competitor strategies, and industry developments is crucial for a Revenue Manager to identify opportunities and develop effective revenue strategies.
        • Strong organizational and time management skills: Managing multiple tasks, and priorities is an important aspect of the role. The Revenue Manager should be highly organized and skilled in time management to ensure efficient operations.