Vp Of Revenue Management

The Hotel
Step inside a legendary revival at The Watergate Hotel, a luxurious urban resort located along the banks of the Potomac River. Here modern design blends with a storied past to redefine luxury. A place where travel and business are occasions worth celebrating, attention to every detail is the standard, and intrigue can be found just beyond every curve.
Location
The Watergate Hotel is centrally located in Washington, D.C., a city of political power, prestige, and elegance is culturally rich with theaters, museums, architectural splendors and unforgettable national memorials. The Watergate Hotel is situated within walking distance of the best the city has to offer.
Strategic Intent
Maximize overall hotel revenue through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data. The DORM is responsible for determining the optimal mix of customers and managing the distribution strategies on all channels to drive market share. Communicate revenue management strategic vision to leadership team at hotel. Participate in total hotel management as a member of the hotel Executive Committee.
Organizational Structure
The Director of Revenue Management will report to the Managing Director. S/he will oversee the Communications Center where Reservations Office, PBX, and In-Room Dining order taking is located. S/he will manage the Reservations Manager.
General Duties And Responsibilities

• Lead the property's weekly Revenue Management Meeting and Daily Business Review Meeting.
• Produce accurate forecast on weekly and monthly basis.
• Effective ability to supervise, motivate, and develop staff.
• Ability to develop and deliver effective presentations.
• Recruit, train and mentor Reservations Manager, Communications Center staff, and other staff members.
• Demonstrate self-confidence, energy and enthusiasm.
• Ensure effective pricing strategies are in place that reflects asset strength relative to the competition in each market.
• Analytical approach to problem solving
• Compile Weekly Performance Report on a weekly basis to analyze key drivers to market share performance and understand overall effectiveness of strategies.
• Requires excellent communication skills, both verbal and written.
• Relevant experience in Revenue Management. Hotel operations experience a plus.
• Strong interpersonal skills
• Drive market share and revenue performance through proper pricing and mix management.
• Develop overall pricing strategy to include all market segments and distribution channels.
• Closely monitor competitive pricing and understand impact of relative pricing decisions on property performance.
• Share best practices and key learning's with peers and hotel team.
• Conduct regular price elasticity tests in various market conditions, measure results and share key learnings.
• Educate sales team on effective use of IDeaS to improve profitability of group bookings.
• Provide Executive Committee with regular revenue management updates.
• Assist in developing a career path for direct reports.
• Team player
• To fill this position, the candidate must have strong leadership and analytical skills. Specific requirements include:
• Ability to analyze financial statements and market data
• Provide guidance on corporate transient negotiated pricing as well as group pricing. Ensure Group Sales Guidelines are updated on a regular basis.
• Review and analyze STR data on a weekly and monthly basis with Hotel Revenue Management Team.
• Clearly communicate to hotel team strategic vision and objectives on how to drive revenues and improve performance.
• Detail oriented and hands-on
• Focus on lowering distribution costs and driving room nights to branded web.
• Complete understanding and effective execution of current and new Revenue Management tools. Includes Opera, SynXis CRS, IDeaS, Rate Shopper, Smith Travel reports, Channel Reports, Pace reports.
• Effectively manage inventory and pricing strategy in all distribution channels including In-House Reservations, Branded Web, 3 rd Party Sites, Central Reservation Office (CRO), and Global Distribution system (GDS).
• Ensure Best Rate Guarantee Compliance.
• Six years hotel management experience with a minimum of four years of Revenue Management or related discipline experience required. Those with prior pre-opening luxury hotel experience are preferred.
• Must possess computer skills, including, but not limited to, Microsoft Excel, PowerPoint, Microsoft Word, Opera PMS, SynXis CRS, IDeaS RMS and Delphi.
• High School or equivalent education required. Bachelor's Degree preferred.