Vice President - Revenue Management

Job Description

General Purpose

The Vice President of Revenue Management oversees both the Revenue Management (RM) and Business Intelligence (BI) departments within the Strategic Marketing team. The VP of RM designs revenue management and marketing strategies to maximize enterprise profitability, working with the RM team to execute, monitor, yield and optimize them. The VP of RM also works with the BI department to provide insights and analysis to individuals and departments across the organization. This position is also responsible for providing leadership and direction to the team

Essential Duties & Tasks

• Responsible for overseeing the day-to-day operations of the Revenue Management and Business Intelligence teams, and managing a staff of analysts, managers and directors. The primary objectives of the teams are
• Maximize hotel occupancy, revenue, RevPAR, GOPPAR and ultimately EBITDA
• Yield hotel room rates, inventory, promotional offers, packages, and availability across multiple pricing tiers and distribution channels, in order to optimize customer mix and maximize profitability
• Monitor booking velocity and work with the marketing team to stimulate demand and identify/execute strategies to target low-demand periods
• Provide analytics and insights both proactively and reactively, on a recurring and ad-hoc basis to support and optimize decision making and operations throughout the organization
• Is aware of emerging trends, technologies, concepts and innovations in the Revenue Management & Business Intelligence fields, in order to stay up to date on best practices in the industry
• Develop, test and evaluate Strategic Marketing and Revenue Management strategies, always seeking further optimization of customer mix and profitability
• Is the liaison between Strategic Marketing and the Sales, Operations and Executive teams
• Work with Director of RM to prepare weekly hotel demand forecast by customer segment, property and room type
• Optimize customer mix by day and by market segment to maximize overall enterprise profitability
• Understand customer behavior by micro segment, including booking preferences, enterprise value, and price sensitivity
• Perform rigorous and recurring rate, availability and inventory audits
• Develop annual hotel occupancy budget by month, segment and room type, for use throughout the property to assist with business planning
• Manage/maintain distribution systems such as Web Booking Engine, HBSi, GDS, SynXis. Manage rates, availability and inventory for all third parties such as OTAs, Travel Agents, Wholesalers, and Meeting Planners. Ensure consistency, accuracy and parity in rates and availability across these channels
• Manage various systems to assist Revenue Management and Business Intelligence in their job functions. Ensure accuracy, timeliness and relevance of systems including Enterprise Data Warehouse, Rainmaker, SAS, Aprimo, NOR1, and Pricing Engine
• Bring on new systems/vendors as necessary, including identifying new opportunities, negotiating contracts and working with IT to implement
• Oversee the creation and maintenance of various types of reporting, including
• Customer behavior/holistic reporting and metrics
• Sales/Marketing performance and production
• Guest satisfaction/sentiment
• Trends within the organization and in the market overall
• Dashboards/forecasting models for other business units
• Search for and provide insights and recommendations to streamline any and all areas within Wynn and Encore. Look for opportunities to assist peers, guests, other departments or leaders at all times
• Works with the Director of RM/BI for all hiring and HR responsibilities, including interviewing, training and cultivating/developing new and existing talent
• Responsible for providing support to the Hotel Division as well as Property Executives, in terms of reporting, strategic recommendations and systems support
• Develop financial models for assisting in planning/evaluating projects at the departmental, property and corporate levels
• Responsible for financial planning, auditing and payment of invoices including professional outside services and managing payroll for the department
• Maintain a complete knowledge of industry through continuing education and training
  
  

• Secondary school or above.
  
  

• Requires a minimum of 5 years’ leadership experience to include global distribution and online distribution channels in addition to property management systems and revenue management systems preferably in a hotel/resort environment
• Knowledge of statistics required.
• Requires proficiency in Microsoft Office specifically Outlook, Word, Access & PowerPoint
• Mastery of Microsoft Excel required: charts/graphs, solver, pivot tables, ODBC connections, data tables, advanced formula creation, and data manipulation
• Prior knowledge of the following systems and databases is preferred: JMP, Matlab, SPSS, SAS, Kronos, MMS/Agilysis, HotSOS, Micros, IGT, Opera, SQL, My-SQL, Teradata
• Proven experience in managing multiple priorities simultaneously and meeting deadlines
• Must possess excellent communication skills, both verbal and written
• Must have problem negotiation, problem solving & decision making skills
• Must possess outstanding organizational, interpersonal, and administrative skills, as well as excellent attention to detail
• Must be able to work proficiently with deadlines and disciplined to work without constant guidance and supervision
• Must be available to work all shifts and be able to flex schedule based on business demands
• Candidate must be able to work efficiently within a team environment
• Must be able to work effectively in stressful, high-pressure situations
• Must have an open mind and willingness to learn new processes, concepts, and ways of approaching analysis
• Must have strong customer service skills. Ability to deal with problems involving guests and operational issues while maintaining a positive attitude
• Candidate must maintain the highest levels of confidentiality regarding guests and staff
• Must be able to satisfactorily communicate English with guests, management, and other employees to their understanding. Additional foreign language a plus