As a Revenue Manager, you will be responsible for maximizing the profitability of our serviced apartment portfolio. You will play a pivotal role in developing and executing strategies that optimize pricing, inventory management, and distribution channels to ensure maximum revenue generation. This is an exciting opportunity for a strategic thinker with a deep understanding of the hospitality and serviced apartment sectors.
Key Responsibilities:
- Develop and implement revenue management strategies for all serviced apartment properties, ensuring optimal pricing and availability.
- Analyse market trends, competitor performance, and demand forecasts to drive pricing decisions and inventory control.
- Monitor and adjust rates for different room types and stay lengths based on market conditions and internal targets.
- Work closely with the Sales and Marketing teams to align pricing strategies with promotional campaigns and distribution channels.
- Conduct regular data analysis and reporting on key performance metrics, including RevPAR, occupancy rates, average daily rate (ADR), and overall revenue performance.
- Develop accurate demand forecasts to support business planning and budgeting.
- Leverage revenue management systems and tools to automate and optimize pricing and inventory management processes.
- Build and maintain strong relationships with online travel agents (OTAs), corporate clients, and other distribution partners.
- Regularly review and update pricing structures to ensure competitiveness while maintaining profitability.
- Assist in the development of corporate pricing policies and strategies for group bookings, long-term stays, and corporate partnerships.
- Provide training and support to other teams on revenue management best practices and tools.
Skills & Qualifications:
- Proven experience in revenue management, preferably within the serviced apartment, hotel, or broader hospitality industry.
- Strong analytical skills with the ability to interpret data and market trends to inform decision-making.
- Familiarity with revenue management software, channel management platforms, and other relevant tools.
- Excellent understanding of pricing strategies, demand forecasting, and inventory control.
- Strong communication and interpersonal skills, with the ability to collaborate across teams.
- Proactive, solution-focused, and able to thrive in a fast-paced environment.
- A bachelor's degree in hospitality management, business, or a related field is preferred.