Market Director of Revenue Strategy

Market Director of Revenue Strategy Westin Melbourne

Join the Westin Melbourne team as a Market Director of Revenue Strategy and benefit from career growth opportunities within a people-first environment. This is a full-time, onsite position based in Melbourne VIC.

Job Summary This role involves leading inventory management and analysis activities and staff within a designated hotel or multi-property market. Responsibilities include managing pricing, positioning, and inventory for hotels under your purview, and monitoring all processes related to demand, revenue, inventory, forecasting, and opportunity analysis. You will develop and recommend sales strategies for pricing across transient, wholesale, and group segments. The role also requires identifying new revenue opportunities and effectively communicating sales strategies and pricing to all key stakeholders. You will serve as the primary contact and maintain productive relationships with stakeholders, including hotel General Managers, sales leaders, franchisees, and owners.

Candidate Profile

• Education and Experience: A degree in a relevant business discipline is preferred, or demonstration of equivalent work experience.

Core Work Activities

Managing Revenue Management Projects and Strategy

• Determine sales strategy, evaluate its effectiveness, and prepare historical and future analysis of revenue and profit opportunities.
• Monitor the annual pricing process for transient, group, and catering rooms, as well as function space.
• Establish and maintain effective dynamic and rational pricing strategies for rooms and function space.
• Develop and execute the hotel(s) strategic plan(s).
• Prepare sales strategy meeting agendas, oversee the preparation of supporting documentation, and lead property meetings.
• Establish long-range objectives and specify the strategies and actions to achieve them.
• Collaborate closely with Sales and Marketing to identify business opportunities and increase organisational profitability.
• Manage room authorizations, rates, and restrictions.
• Utilise brand revenue management systems and tools to ensure revenue and profit are maximised.
• Prepare budgets for transient, group, and catering.
• Update market knowledge and align strategies and approaches accordingly.
• Act as a demand expert for team members, GMs, and regional stakeholders.
• Verify that sales strategies and rate restrictions are communicated, implemented, and modified as market conditions fluctuate.
• Promote and protect brand integrity and positioning.
• Participate in quarterly regional reviews.
• Utilise interpersonal and communication skills to lead, influence, and encourage others; advocate sound financial/business decision-making; demonstrate honesty/integrity; lead by example.
• Attend meetings to plan, organise, prioritise, coordinate, and manage activities and solutions.
• Verify that property diagnostic processes (PDP) are used to maximise revenue and profits.
• Demonstrate knowledge of job-relevant issues, products, systems, and processes.
• Explore opportunities that drive profit, create value for clients, and encourage innovation; challenge existing processes/systems/products to make improvements.
• Think creatively and practically to develop, execute, and implement new business plans.
• Develop 6-month, 12-month, and 2-year strategic action plans for the management of property room and catering revenues.
• Perform regular quality checks to verify strategies are implemented correctly and producing desired results, ensuring any gaps are identified and addressed.

Analyzing and Reporting Revenue Management Data

• Actively participate in weekly and long-range forecasts.
• Compile information, analyse, and monitor actual sales against projected sales.
• Identify the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Analyse information and evaluate results to choose the best solution and solve problems.
• Use computers and computer systems (including hardware and software) to set up functions, enter data, or process information.
• Generate and provide accurate and timely results in the form of reports, presentations, etc.
• Prepare forecasts of revenue, profit, demand, and occupancy for rooms for prescribed timeframes.
• Prepare revenue and profit opportunity analysis.
• Provide revenue analysis functional expertise and leadership to general managers, property leadership teams, and sales leaders.
• Compile information, analyse, and monitor actual sales against projected sales.
• Assist with the account diagnostics process and validate conclusions.
• Analyse period-end and other available systems data to identify trends, future need periods, and obstacles to achieving goals.
• Check distribution channels regularly for hotel positioning, information accuracy, and competitor positioning.

Building Successful Relationships

• Develop and manage internal and external key stakeholder relationships.
• Provide targeted and timely communication of results, achievements, and challenges to all stakeholders.
• Inform and/or update executives, peers, and subordinates on relevant information in a timely manner.
• Develop strong partnerships.