hotel revenue management
anyone working or know of anyone who works in revenue management at a hotel? pls share more about the job. thanks
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Hi Valentine15,
My background is in hotels, mostly operations but my personal mentor was the director of Revenue management of many hotels and even won an award for rev manager of the year for a large hotel group. Although my background is not revenue mgmt, I learned a lot from him. My main points about revenue management:
It is about strategy -- how are you going to bring in more clients? What price will you offer? Different companies are given different rates and packages (Amex vs. Orbitz) Budgeting and forecasting how much business you will do next year, and constantly monitoring it to make sure you are hitting your targets You must be very organized -- you usually have many programs and software to use that assists with your revenue management. Weekly/daily meetings with executive teams to analyze trends and targets Work closely with sales teams to bring in corporate business
You usually start out in the reservations departments -> revenue analyst -> revenue manager -> -> revenue director -> revenue director for several hotels -> then you could go corporate.
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