Permanent Head Of Revenue Management
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Head of Revenue Management
Based near Derby, Derbyshire, our client is a successful hospitality business looking for their first Revenue Manager to join the business and help build the revenue management function as Head of Revenue Management.
This job would suit a strong revenue manager to be responsible for optimising contribution by leading cross functional decision-making on pricing, capacity and revenue management. This position will also require the revenue manager to create, improve and develop processes in the function to assist in this optimisation process.
Our client has seen significant growth in recent years and, although the last 12 months has introduced challenges, they have weathered the storm well and are confident of continued future growth. The business has a varied and complimentary portfolio of products with a varied customer base so there is plenty for the business to understand further in looking more strategically at its revenue management function.
The successful individual will have previous revenue management experience and should be able to demonstrate a strong knowledge of introducing new processes into the function whilst being hands on with decision-making yet understanding longer term strategic plans. The nature of the function means that there is no RMS in place so excellent Excel knowledge is required to manage all data through Excel until future systems can be implemented. You must demonstrate excellent communication skills and be able to be persuasive on complex subjects as this will be the first time in the business someone will be arguing for specific pricing decisions. The ideal candidate will be a self-starter with drive and energy to be able to succeed in a challenging environment whilst having great attention to detail.
Duties will include:
* Create and embed a clearly defined yield management approach across the business
* Monitor trading performance, gathering and analysing relevant information and data, including pricing, revenue management, booking patterns, promotional performance and market and customer trends.
* Lead weekly yield reviews with the Chief Commercial Officer, focusing on revenue management, booking velocity and load factors for fixed and variable products.
* Agree and implement a robust process for decision making relating to re-pricing and promotions to manage risks, optimise yield, and ensure delivery of budget and forecast performance.
* Enhance existing KPI reporting and develop new tools to improve efficiency and quality of information to enable fully informed decision making.
* Create an effective process to action pricing and yield decisions across the business engaging all effected stakeholders
Budgeting & Forecasting
* Lead the budgeting and forecasting processes for revenue, direct costs, gross profit providing robust challenge where necessary
* Set optimal pricing and promotional strategy by itinerary with clear objectives and targets of each ensuring alignment to business strategy and objectives.
* Monitor competitors’ pricing, promotions, and availability and develop recommendations to remain competitive in desired market positions
* Monitor and report net incremental contribution generated from yield management activity vs budget / forecast and drive actions to manage variances and deliver target performance.
For more information about this role or any other Revenue Manager or Head of Revenue Management jobs in Derby, Derbyshire, please contact me in confidence or visit our website.
Every application will receive a response as this is the recognised working practice at MRK Associates.
MRK Associates – AGY
Quality, Relevance & Reliability
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