Revenue Strategy Consultant – Employee
About the Company
TCRM (Total Customized Revenue Management) is a leading provider of revenue management services in the hospitality industry. We partner with hospitality professionals to help them gain market share and increase profitability. With our unmatched expertise, we optimize in every area and deliver outstanding results to our Clients, and we are able to do this because of our amazing team! We look for high performers who strive to reach their full potential while looking out for their fellow employees and providing excellent service to our Clients.
As a Revenue Strategy Consultant Contractor, you will be responsible for identifying and maximizing all potential revenue for one or more TCRM Client properties. At TCRM we strive to proactively guide our Clients with a personalized and comprehensive strategy.
- A minimum of 3-5 years in a role with dedicated Revenue Management leadership experience.
- Passion and commitment to the business at an ownership level.
- Ability to project high energy, professionalism, and confidence.
- Excellent interpersonal and communication skills and the ability to work adeptly with colleagues, Clients, and the public.
- Be a highly motivated and enthusiastic leader.
- Absolute professionalism and respect when dealing with Clients, team members, vendors and colleagues.
- Outstanding attention to detail and obsession with accuracy.
- Ability to successfully prioritize, organize, and multi-task.
- Diligence in monitoring global, national, and local economics to determine the impact on hotel revenues.
- In-depth understanding of tools, spreadsheets, and statistical methods for analyzing data.
- Ability to identify and utilize relevant data to draw inferences in regard to revenue impact on properties.
- Work well under pressure and meet or beat deadlines.
- Proficiency in branded or independent PMS, CRS, and RMS – expert level in at least one of each of those system types.
- Superior knowledge of TravelClick products including Demand 360, and Agency 360.
- Strong Microsoft Office skills, specifically Excel.
- Promote TCRM’s mission, vision, positioning, and values across the industry.
- Maintain the highest levels of Client satisfaction as measured by “Very Good”, “Excellent” and “Very Likely” or “Likely” results on post-service surveys.
- Maintain ROI for each Client, measured in year-over-year pace and revenue increases.
- Develop and maintain a close relationship with the market manager of the Third Party, Intermediaries and other industry partners to maximize the opportunities with these channels/products
- Work consistently with the highest performance and satisfaction of each Client in mind, and regularly provide feedback to TCRM via direct report as needed to enhance these areas.
- Collaborate with Client and TCRM team members to identify, prioritize and execute analytical work that enables a deep understanding of demand trends at the market level.
- Continuously tackle complex business problems by converting raw data into meaningful and actionable business insights.
Client Consulting Duties:
- Clearly communicate strategic vision and objectives on how to drive revenues and improve performance.
- Proactively identify challenges and opportunities for the Client, always offering solution options.
- Lead collaborative, engaged, productive, and efficient Weekly Strategy Meetings, following the TCRM agenda and Rotating Topics.
- Perform daily review of all assigned Clients including prior day and prior week pickup, market changes over the following 12 months, strategy adjustments that need to be implemented, etc. at a minimum, and communicate a clear daily strategy and recap to each Client.
- Perform weekly (at a minimum) review of pace, market changes, need periods, etc. for a full year (18 months for convention markets).
- Review and analyze STR data on a weekly and monthly basis with Hotel Revenue Management Teams, including analysis and key learnings in weekly and monthly reporting.
- Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance. Drive Market Share and Revenue Performance through proper pricing and mix management for all assigned Clients, and guide any direct reports in doing the same.
- Develop an overall pricing strategy to include all market segments and distribution channels. Provide guidance on corporate transient negotiated pricing as well as group pricing. Ensure Group Guidelines are updated on a regular basis. Ensure effective pricing strategies are in place that reflect asset strength relative to the competition in each market.
- Able to deal with frequent change, delays, or unexpected events, as well as able to change approach and method to best fit Client and environment.
- Quickly respond to Client requests and needs; keep a level head and professional demeanor in difficult or emotional client situations.
- Effectively manage inventory and pricing strategy in all distribution channels including Direct Web, 3rd Party Sites, Central Reservation Office (CRO), and Global Distribution System (GDS). Focus on lowering distribution costs and driving room nights to direct the web when appropriate.
- Continually monitor and shop in real time all pertinent travel-related websites to ensure competitive positioning and display.
- Coordinate with the Client operations team to maximize revenue through effective inventory management, upselling, and sell-out efficiency.
- Independently analyze and determine whether Clients are effectively marketing themselves across electronic distribution channels.
- As applicable, review benchmarking reports for trends, booking windows, and sources of business as well as rates compared to competition.
- Review volume account production with the Business Travel Sales Manager and Director of Sales, as appropriate.
- Conduct regular price elasticity tests for Clients across various market conditions, measure results, and share key learnings.
- Articulate key strategies that support driving topline revenues and bottom-line profits to Clients and TCRM team members.
- Assist Client teams in understanding the importance of net rate evaluations in an effective and holistic RM strategy.
- Create a roadmap to lead the hotel to an Optimal Business Mix which will support achieving Market Share results.
- Take responsibility for effective implementation of and compliance with all brand standards (as applicable) within guidelines of putting the Client’s needs and goals first.
- Ensure that all room statistics reports, including the Financial statement, and any other related reports are accurate and consistent.
- Maintain a complete understanding and effective execution of current and new RM tools with brands.
- Comply with brand and/or management company standards for Rate Plans, Rate Categories, Market Segment setup, etc.
- Complete all rate loading in PMS, CRS, RMS, and/or GDS as well as any extranets as assigned or requested by the Client.
- Spearhead troubleshooting and resolution of any GDS rate loading issues as they occur.
- Ensure Best Rate Guarantee Compliance and/or parity as assigned by Client guidelines.
- Provide value-added analysis above and beyond what a standard on-site DORM might do, consistently searching for new ways to add value to the services the Client has contracted.
- Partner with the sales team on the effective use of tools to improve the profitability of group bookings.
- Produce accurate forecasts on a weekly and monthly basis (frequency determined by Clients) for each hotel, along with completion of any operational or optimal forecasts as requested by Clients.