|The Senior Vice President, Revenue Optimization, is responsible for optimizing all revenue streams to the highest profitability for the resort. The SVP will lead cross-functional collaboration and decision-making across all revenue-generating departments, including Sales, Marketing, APV, Rooms, Marine Water Park, Banquet and Catering, Spa, Marina, and Retail. This individual will be responsible for gathering competitor and business intelligence regarding pricing, management of inventory, and/or the yield hurdle points and trends affecting business. They will identify technology tools and resources to assist in achieving revenue goals. Collaborates closely with senior leadership throughout the organization. Acts as project leader to achieve goals. Direct reports include VP of Revenue Management, Executive Director of Reservations, VP of Business Intelligence.
|Main Duties and Responsibilities
- Applies revenue science and optimization principles with industry expertise to transform data into accurate, automated, and actionable revenue-enhancing decisions. Focus areas include but are not limited to revenue streams such as rooms, food and beverage, banqueting and conference services, Marine Water Park, Golf, Retail, Marina, and other leisure activities in addition to optimizing distribution channels such as APV and Website in partnership with Marketing.
- Maintains, updates, and shares information in the areas of a master calendar of external events, competitor rate intelligence RevPar penetration (RPI/RGI), arrival and spending patterns of commercial accounts (RevPOR), denial reports, function space utilization (RevPOS), food and beverage profitability (ProPAST and ProPOST), ROGR, trends in rooms and non-rooms revenues by channel, segment, and account.
- Understand the composition of resort profitability and evaluate business from all existing and potential new sources, including business partners, to provide input and recommend future pricing of all products
- Establishes and implements methods for monitoring competitor pricing for all revenue- generating departments, understands the dynamics of all markets and demand generators, and recommends appropriate actions to the Revenue Team for pricing and market mix strategy.
- Facilitates the Rooms Revenue Team meetings and manages the team to generate reports and analyses needed for these meetings, reporting key facts/trends, STR, Hotelligence, booking curves, forecasting, etc.
- Leverage live demand, market data, predictive analytics, forward-looking data, and live insights using automated business intelligence (BI) solution that provides live on-demand reporting.
- Analytics and automation – simplify data-driven decisions by creating standardized, automated reporting. Develop revenue management automation tools for business intelligence, setting rates, rate shopping, and pricing tools across all revenue streams.
- Establishes and implements reliable methods for SVP Sales to monitor and determine demand periods for function space, rooms, and catering through an analysis of historical data, future demand, and current bookings. (Duetto, IDeaS, or Rainmaker).
- Collaborate with colleagues across the business and with the Data Science team to gather and assess internal and external information to generate revenue ideas and initiatives
- Lead financial modeling work, including analysis to support commercial initiatives, promotions, partnerships, or sponsorships.
- Regularly organizes and presents complex information and data clearly and concisely structured to senior management and key decision-makers, effectively articulating ideas and concepts via conversation, phone, email, and written presentations.
- Develop standard and ad-hoc reports, presentations, and analyses to support senior decision-makers. Drive implementation of new and changing strategies.
- Provide input to the annual budget process on all revenue aspects of the business.
- Responsible for leading revenue forecasting, market assessments, pricing analysis sizing of new revenue opportunities, long-range strategic planning, and partnership structures
- Provides medium-term revenue-based forecasts of required staffing levels to all departments.
- Participate in quarterly and annual revenue management reviews for all revenue-generating departments and distribution channels.
- Introduces the concept of dynamic pricing as appropriate as well as tools required to implement successfully.
- Keeps abreast of the latest technology, makes recommendations, and presents opportunities that advance goals and budgets across all revenue streams.
- Drives approved and relevant projects to completion on a timely basis.
- Champion all special projects relating to market research and operational optimization (resource planning, costing, key performance indicators)
- Oversee Revenue Systems and successful implementation and adoption, including the Central Reservations System (Switchfly), Revenue Management System (RMS) (Rainmaker, Duetto or IDeaS), Property Management System (LMS), Distribution Channel Manager (HBSi), Sales & Catering System (Ivvy) and activities scheduling and ticketing system (RTP)