VP Revenue Strategy
ExecuNet in Atlanta, GA
- Industry: Accounting - Corporate Accounting - Senior
- Type: Full Time
- Compensation: $108,550.00 - 118,180.00 / Year*
Lead the overall revenue management strategy for COMPANY in order to provide competitive advantage, drive owner value, and delight our customers. Create and maintain a 5 year roadmap that brings together strategic plans for Pricing, Systems, Analytics, Services, and Revenue Services. Determine our value proposition and revenue opportunity for various initiatives. Serve as an innovation center for new ideas from industry. Define an COMPANY way of revenue management that determines appropriate on property and above property support. Align closely with Distribution, Sales, Loyalty, and Marketing to drive integrated plans and value. Define revenue management strategies for all brand type, regions, and customer segments. Work with Operations Teams and hotels on creating processes that integrate reservation and revenue management principles seamlessly for maximum effectiveness. This has significant impact on the overall use and effectiveness of our 21b system funds annually. Direct engagement of a team, and financial accountability of the function and of major capital efforts.
Essential Duties and Responsibilities
- Establish vision for business design for all revenue management processes and procedures, and their integration to Sales and Distribution, Brand, and other strategies, resulting in significant REvPAR and RGI growth.
- Collaborate with Leadership team on the development of comprehensive RM strategy; including components of pricing, inventory, selling strategy, etc., that drives commercial results.
- Activate strong partnerships in functional teams (Sales, Brands, Channels) to ensure pricing integrity at our hotels and offered to our consumers. Work with leadership of these teams to help create strong ARI vision.
- Drive implementation of tactical pricing in the regions, completing implementation work via our systems, creating implementation plans, ensuring appropriate visibility through the channels.
Your day to day
- Oversee analytics to support revenue management efforts, including consumer insights, metrics, benefits measurement, value propositions, and other methods to drive effectiveness.
- Create vision for segment mix, partnering with regions on effective ways to manage each of the segments. Work with key Commercial Leaders to ensure mix management to achieve strong commercial targets.
- Provide thought leadership on major distribution, metrics of OTAs, and connectivity plans.
- Work with Loyalty team leadership on the creation of loyalty packages and promotional offers to COMPANY Rewards Club Members
- Provide leadership to Marketing teams development of robust pricing strategies and provide leadership on proposed programs.
- Lead the creation of full business process designs for the Central Reservation System, including strategic and tactical elements that integrate the functionality into Operational effectiveness.
- Own the understanding and implementation of inventory strategies, including room types, attributes, positioning on specialty types like ADA, etc.
- In conjunction with Consumer analytics, lead efforts to understand drivers of consumer behavior that affect pricing, shopping, booking, and yielding, in order to develop a framework for effective business design.
- Lead the creation of all content and standards as related to our reservation and revenue systems. Drive processes throughout the business to ensure rate, inventory, and other components drive our Winning Model.
- Own the creation of integrated plans within the entire Sales and Distribution space, including channels, distribution, loyalty, Sales, and Revenue Management. Be a significant contributor to the annual planning process to join up regions and functions into a common vision.
- Partner with leaders of Product Management and the regions to ensure regional feedback is fed into our requirements design and development.
- Lead test-and-learn strategies to ensure our business process, content and standards, and planning alignment among systems resonate with our hotels and consumers, and drive true commercial performance.
- Monitor and analyze the competitive hotel market to proactively identify issues affecting the overall effectiveness of our reservations and revenue systems Drive long range plan for our systems and process to beat the competition. Report significant trends to Executive teams.
- Plan, organize, control and lead subordinate functions within established budgetary and manpower plans; establish goals, performance standards, and operating procedures for assigned functions. Assume co-ownership for large scale capital budget.
What we need from you
- Coach and develop team members; hire, fire, assess, discipline, document performance, recommend salary and classification changes. Act as an advisor to subordinate managers or staff to help meet established schedules and/or resolve technical or operational problems.
Bachelor's or Master's Degree in Business, Marketing, Science or a relevant field of work, or an equivalent combination of education and work-related experience.
15+ years progressive work-related experience in the travel industry or similar environment, with demonstrated proficiency in pricing and revenue management, as well as 5 to 7 years managing teams and/or significant complex projects.
TechnicalSkills and Knowledge
- Demonstrated ability to create short-and long term vision that drives commercial results.
- Strong organizational skills, with ability to lead large scale business transformation.
- Strong knowledge of pricing practices, techniques, and strategies, including development and implementation.
- Demonstrated project management experience in organizing, planning and executing large-scale projects from conception through implementation.
- Demonstrated experience in leading and developing people.
- Demonstrated knowledge of channel delivery technology, including core revenue systems, COMPANY proprietary web sites, third party web sites, and GDS.
- Strong knowledge of revenue management, including how rate and inventory is controlled and managed at the hotel level.
- Demonstrated effective verbal and written communication skills for the purpose of providing information to clients, vendors, and staff.
- Demonstrated knowledge of hotel operations and the hotel industry, and demonstrated ability to access relevant information and understand the competitive market.
- Demonstrated ability to operate and influence in a matrix management organization.
* Estimated salary
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