Location
Englewood, CO | United States
Job description
Are you ready to help shape the future of travel and hospitality? CoralTree is seeking an exceptional Area Director of Revenue to join our dynamic team supporting 3 Magnolia properties in Denver, St. Louis, and Houston. The Area Director of Revenue will play an integral part in the success of each hotel's overall business strategy and optimization. The position will be responsible for leading the overall property strategy in pricing, distribution, total revenue optimization, e-marketing, reservations, and yield management; all while focused on achieving top-line revenue objectives. We’re looking for a proven revenue executive that will focus on total profit management, group conversion, marketing, and exemplary guest service.
Analysis, Reporting and Strategy: Work jointly with the property ROC team(s) and CoralTree Home Office team to develop and execute a strategic (demand-based) pricing plan, as well as understand the hotel’s defined competitive market, comp sets and their relevance based on current/future market conditions and industry changes and fluctuations.
- Collaborate with the ROC and Home Office to turn daily metric analysis into dynamic, results-oriented action plans.
- Craft and implement a demand-driven pricing strategy across all room categories, leveraging essential tools like STR, TravelClick, and rate shopping for optimal pricing.
- Gain a deep understanding of the hotel's competitive landscape, comp sets, and their significance in evolving market and industry scenarios.
- Use our proprietary internal reporting to pinpoint trends and uncover future revenue opportunities.
- Conduct thorough evaluations of reservations for better conversion insights, analyzing regrets/denials, and call volume.
- Ensure precise and timely distribution of daily, weekly, and monthly resort forecasts.
- Consistently maintain rate parity across channels.
- Keep an eye on full-year pickup for identifying strategic risks and opportunities.
- Steer weekly pricing and optimization meetings, driving comprehensive resort ancillary strategies.
- Actively engage in optimizing pricing for all resort facets, including Spa, Catering/Banquets, menus, recreation, and parking.
- Work with sales leaders to manage group blocks effectively, ensuring optimal forecasting, yielding, and timely release.
- Manage same-day sellout strategies, focusing on rates and channel distribution.
- Annually, assist in crafting the business plan and budget, advising on business mix, ADR, rate positioning, and overall revenue strategies.
- Oversee the Reservations team, driving performance that surpasses both guest and hotel service expectations.
Group Optimization: Implement a group evaluation process to manage group inventory and rates based on key factors such as rooms/space ratio, pattern, ancillary contribution, etc.
- Efficiently administer a group block management program, guaranteeing that contracted blocks are meticulously maintained, accurately forecasted, dynamically yielded, and released at the most opportune moments.
- Conduct an in-depth daily business review, rigorously assessing each group business segment to maximize its contribution to the property's overall profitability.
Electronic Distribution: Develop and maintain electronic distribution strategy to include 3rd party internet content and positioning, market manager relationships, and GDS distribution
- Regularly monitor all electronic distribution sites to confirm that all transient rates and room types are accurately loaded and readily accessible.
- Join forces with the property ROC team and Home Office to activate effective short-term marketing plans, focusing on pricing and distribution strategies.
- Work closely with the marketing team to develop and execute innovative strategies in website optimization, search engine advertising, and online marketing to enhance digital presence and engagement.
- Engage with key partners to execute impactful action plans for high-demand periods and craft clever strategies to gain market share during lower-demand times.
Metrics: Conduct weekly ROC meetings involving strategies for the next 12-18 months, competitive business analysis, financial room forecasts and budgets. DORS is responsible to ensure all key stakeholders show active and consistent participation in the weekly meetings.
- Generate essential daily, weekly, and monthly reports, including detailed day-by-day forecasts, market segmentation, channel distribution, and pace analysis for both group and transient segments.
- Ensure the formulation and execution of effective, results-oriented action plans.
- Craft a detailed, segment-specific day-by-day hotel budget as an integral part of the annual marketing plan.
- Collaborate closely with heads of all ancillary revenue departments, using a set of core reports and regular meetings to drive the Revenue Optimization Community (ROC) towards meeting and exceeding revenue goals.
- Comprehensive understanding of demand evaluation and effective pricing.
- Ability to evaluate and execute a results-driven action plan.
- Highly technical and proficient in Marriott systems including Lightspeed, OneYield, and Marsha.
- A strong user of Excel and Power Point; Power BI knowledge is a must.
- Analytical approach to problem solving.
- Detail oriented with excellent time management skills.
- Articulate and provide clear direction of a strategy.
- Is a proactive, self-starter who can work well both independently and as part of a team.
As a valued member of the CoralTree team, you'll receive a comprehensive benefits package that includes:
- Group medical, dental, vision, life, and disability benefits.
- Participation in a pre-tax flexible benefit plan for healthcare and dependent care reimbursement
- An employee assistance program.
- Paid time off/sick time
- Participation in a 401(k) plan with a company match.
Join us in creating unforgettable experiences for our guests, building vibrant communities, and shaping the future of travel and hospitality.
Work location: Home Office, Englewood, CO.
Salary range: $140,000 - $160,000/yr. + bonus
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