Residence Inn Philadelphia Center City - Revenue Manager-Hotel OEM
Job Overview
Employment Type
Full-time
Work Schedule
Standard Hours
Benefits
Dental Insurance
Food provided
401(k)
Employee assistance program
Disability insurance
Vision Insurance
Health Insurance
AD&D insurance
Paid Time Off
Job Description
Residence Inn Philadelphia Center City is a premium select service hotel ideally situated within walking distance of some of Philadelphia's most iconic landmarks such as Independence Hall, the Pennsylvania Convention Center, the Kimmel Center for the Performing Arts, and the Liberty Bell. This location provides guests with the perfect blend of work and leisure opportunities in the vibrant Center City area. The hotel boasts newly renovated rooms and suites equipped with complimentary high-speed Wi-Fi, fully equipped kitchens, and generous workstations, making it an ideal choice for both extended stays and short getaways. Guests can start their day with a free hot breakfast buffet, maintain their fitness routines in the well-equipped fitness center, and utilize the hotel's facilities for business engagements, including three meeting rooms outfitted with AV equipment and a business center. As part of Aimbridge Hospitality, Residence Inn Philadelphia Center City adheres to high standards of professionalism, safety, and service excellence, ensuring a welcoming environment for guests and associates alike.
The Revenue Manager role at Residence Inn Philadelphia Center City is a pivotal position focused on identifying and maximizing all potential revenue opportunities for this full-service hotel. This role is tasked with driving revenue growth by leading the revenue management processes tied to inventory management, pricing, business opportunity analysis, demand projections, and revenue forecasting. The incumbent will provide strategic direction and operational support to property teams to optimize RevPAR (Revenue per Available Room), RevPAR Index, profit margins, and market share. This involves close collaboration with various departments including the front office, sales, and marketing to ensure cohesive strategies that enhance both short-term and long-term revenue objectives. The Revenue Manager will be responsible for data analysis and crafting revenue strategies related to transient and group market segments, e-commerce, and room pricing in line with company policies and the hotel's strategic goals.
The role requires a comprehensive understanding of hotel operations, yield management principles, and the ability to interpret complex data from multiple sources to inform decision-making. The Revenue Manager will harness technology systems such as branded PMS (Property Management Systems), sales and revenue management software, and industry tools like Travelclick and STR reports to support daily operations and forecasting. Communication skills are essential as the role includes disseminating key information, facilitating meetings, and training team members. This position demands strong organizational capabilities to handle multiple responsibilities efficiently in a dynamic environment. By maintaining an analytical mindset and critical thinking skills, the Revenue Manager will adjust pricing strategies, manage group booking cut-offs, evaluate market trends, and optimize hotel inventory to capture maximum revenue. Additionally, the role includes participation in budgeting, forecasting, and financial reviews, often engaging with ownership and strategy teams to align financial targets with operational initiatives.
Exempt associates in this role are expected to manage their workload to meet job responsibilities, and overtime policies apply to eligible employees. The position is designed for professionals with a background in hospitality revenue management, offering a challenging yet rewarding opportunity to impact the financial success of a prominent hotel in one of Philadelphia’s most bustling neighborhoods. The hotel supports its associates with a comprehensive benefits package, including medical, dental, and vision coverage, disability income protection, life insurance, paid time off, employee assistance programs, and a 401k retirement plan. Furthermore, the hotel offers a unique daily pay option, reflecting its commitment to associate well-being and financial flexibility.
This job offers an excellent opportunity for motivated professionals to advance their careers in the hospitality industry while contributing to the success of a renowned property in Center City Philadelphia. Residents and visitors alike benefit from the dedicated efforts of the Revenue Manager to maintain competitive positioning and deliver exceptional guest experiences through effective revenue management and strategic planning.
The Revenue Manager role at Residence Inn Philadelphia Center City is a pivotal position focused on identifying and maximizing all potential revenue opportunities for this full-service hotel. This role is tasked with driving revenue growth by leading the revenue management processes tied to inventory management, pricing, business opportunity analysis, demand projections, and revenue forecasting. The incumbent will provide strategic direction and operational support to property teams to optimize RevPAR (Revenue per Available Room), RevPAR Index, profit margins, and market share. This involves close collaboration with various departments including the front office, sales, and marketing to ensure cohesive strategies that enhance both short-term and long-term revenue objectives. The Revenue Manager will be responsible for data analysis and crafting revenue strategies related to transient and group market segments, e-commerce, and room pricing in line with company policies and the hotel's strategic goals.
The role requires a comprehensive understanding of hotel operations, yield management principles, and the ability to interpret complex data from multiple sources to inform decision-making. The Revenue Manager will harness technology systems such as branded PMS (Property Management Systems), sales and revenue management software, and industry tools like Travelclick and STR reports to support daily operations and forecasting. Communication skills are essential as the role includes disseminating key information, facilitating meetings, and training team members. This position demands strong organizational capabilities to handle multiple responsibilities efficiently in a dynamic environment. By maintaining an analytical mindset and critical thinking skills, the Revenue Manager will adjust pricing strategies, manage group booking cut-offs, evaluate market trends, and optimize hotel inventory to capture maximum revenue. Additionally, the role includes participation in budgeting, forecasting, and financial reviews, often engaging with ownership and strategy teams to align financial targets with operational initiatives.
Exempt associates in this role are expected to manage their workload to meet job responsibilities, and overtime policies apply to eligible employees. The position is designed for professionals with a background in hospitality revenue management, offering a challenging yet rewarding opportunity to impact the financial success of a prominent hotel in one of Philadelphia’s most bustling neighborhoods. The hotel supports its associates with a comprehensive benefits package, including medical, dental, and vision coverage, disability income protection, life insurance, paid time off, employee assistance programs, and a 401k retirement plan. Furthermore, the hotel offers a unique daily pay option, reflecting its commitment to associate well-being and financial flexibility.
This job offers an excellent opportunity for motivated professionals to advance their careers in the hospitality industry while contributing to the success of a renowned property in Center City Philadelphia. Residents and visitors alike benefit from the dedicated efforts of the Revenue Manager to maintain competitive positioning and deliver exceptional guest experiences through effective revenue management and strategic planning.
Job Requirements
- High school diploma or equivalent
- at least 3 years of progressive experience in a hotel or related field or 4-year college degree in business statistics, revenue management, or hospitality and at least 1 year of related experience
- proficiency in Microsoft Office especially Excel
- understanding of hotel operations and yield management philosophy
- familiarity with PMS systems, internet and travel websites, Travelclick, and STR reports
- ability to analyze financial information and perform arithmetic functions
- critical thinking skills
- excellent communication skills
- strong organizational management
- ability to handle multiple responsibilities at once
- compliance with Aimbridge Hospitality standards and regulations
- friendly and service-oriented approach to owners, guests and associates
Job Qualifications
- High school diploma or equivalent
- at least 3 years of progressive experience in a hotel or a related field or a 4-year college degree in business statistics, revenue management, or hospitality and at least 1 year of related experience
- knowledge in Microsoft Office Products with a prerequisite in Excel formulating and reporting
- understanding of general hotel operations and the philosophy of yield management
- knowledge of branded or similar PMS system, internet and travel websites, and industry specific reports including Travelclick and STR desired
- ability to work with and understand financial information and data, and basic arithmetic functions
- ability to assimilate complex information, data, from disparate sources and consider, adjust or modify to meet the constraints of the particular need
- use critical thinking skills to investigate changes in demand, pace, production, and channel/source contribution
- excellent presentation, written and verbal communication skills
- strong organizational management and ability of handling multiple responsibilities
Job Duties
- Set, manage, and collaborate with GM/DOS to input appropriate yield controls to maximize hotel's revenue from all distribution channels
- coordinate with the front office team to maximize revenue through effective inventory management, upselling and sell-out efficiency
- collaborate with Sales and Marketing to provide consultation on strategies for negotiating and booking optimal group and catering business, as well as to ensure hotel meeting space is properly utilized to maximize room and food and beverage revenue potential
- manage brand/third-party channels and relationships by working with OTA market managers on promotions and market exposure
- follow up to analyze ROI on any paid placements or marketing programs to ensure the hotel is maximizing revenue
- clearly relay items/actions discussed during daily/weekly/monthly meetings and distribute meeting notes and applicable reports to all appropriate stakeholders in a timely manner
- facilitate meetings as required
- effectively leverage, manage and maintain the applicable Sales & Revenue Management system(s), daily operations, forecasting support, and reporting in accordance with hotel and brand Revenue Management Standards
- analyze applicable revenue reports to make Yield Management decisions and update respective inventory and rate information directly through the system(s)
- perform displacement analysis to support group sales decisions and communicate highlights and/or action plan recommendations to Revenue leadership
- place test calls to ensure accuracy of rate quoting, restrictions and selling approach
- ensure accurate preparation and analysis of market segmentation reports, production reports, source contribution analysis, daily pick-up reports, and pace summaries
- own the compilation, distribution, and interpretation of sales and revenue data
- analyze and review monthly and weekly STR Report results, understanding gains or losses of RevPAR Index and applying this knowledge to impact and predict future results and further help develop proactive strategies to gain share against the competition
- develop, monitor and adjust group pricing strategies, preferred patterns, and need periods where necessary
- serve as key contact for questions with regard to system use and/or revenue management principles and provide in-person training as required
- engage in the annual BT pricing process
- provide data analysis of production trends and pricing guidance to hotels to ensure alignment to annual revenue goals
- in partnership with the strategy team, execute daily, weekly and monthly 30-60-90 day forecast and annual budget and contribute to these processes
- participate in the monthly financial review (ownership invited), focused on sales, revenue, and P&L
- represent the hotel by participating in and/or conducting industry functions in the area
- manage and communicate group cut off dates
- monitor the status of the hotel throughout the day and adjust any inventory controls that need to be modified through the applicable Revenue System(s) and communicate to the strategy team
- perform special projects, participate on task force and/or committees, trainings, and other responsibilities as assigned
Job Criteria
Experience
Mid Level (3-7 years)
Job Location
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