Forecasting and Budgeting:
- Actively take part of the Company’s Annual Budget and Business Plan preparation and presentation
- Produce an accurate Apartment Revenue forecast for the upcoming 12 months. Prepare the forecast at the day / segment level for upcoming 90 days.
- Hold a strong leadership role in the monthly Forecast Meeting
- Monitor and analyse Market conditions based on all available data source for both past and future.
- Monitor, analyse and comment on performance within the Market for current, past and future. Prepare month-end Comments, including Segmentation, Country statistics, Room Type optimization, upselling, Top producing account, GDS and website performance.
Strategy Setting and deployment:
- Pro-actively identify need period and adapt Sales & Pricing strategy accordingly
- Set Rate structure, Demand Calendar and Upsell strategy
- Ensure all systems (RMS, CRS, 3rd Party Sites…) are all maintained in the most optimized manner for the full booking window in terms of content and data.
- Implement and effectively manage the sales and pricing strategy, in all distribution channels including but not limited to branded website, 3rd parties and the GDS.
- Safeguard Rate integrity
- Ensure all reservation channels are returning the appropriate availability and rate for the upcoming 365 days.
- Manage inventory
- Follow up on lost business and bring information about them to the knowledge of the department superiors.
- Ensure all sellable contracted rates are loaded in all systems for ease of use by Reservations.
- Ensure all internal package breakdowns are loaded and in line with financial department.
- Ensure all cancellation and deposit policies are loaded in all systems according to strategy.
- Ensure Commission codes are correctly setup and commissions sent and followed up on a weekly basis as a minimum
Optimize opportunities and Reduce Risk
- Ensure all day arrivals are fully confirmed and guaranteed as well as perfectly accurate (Price, Rate code, Segment, Source, Profiles, Billing instructions, Guests request and comments…)
- Check the reservations made the previous day.
- Check of arrival tomorrow
- Check Deposit not received for arrival next week
- Control no show and late cancellation charges.
- Maintain all reservation standards.
- Keep department informed of all changes in systems or procedures.
- Ensure that the team is aware of the internal credit policy.
- Monitor reservation pick-up for the coming months – review data on an ongoing basis.
- Ensure Reservations Team is fully aware of all prices, promotions and packages available for each period within the available booking window.
- Ensure the system is setup in a way that displays the Rates to be proposed first, as well as all the relevant information on screen for reservation agents to be more efficient.
- Ensure Reservations Team has a perfect knowledge of the Units and Apartment Product as well as of the area and what is happening in town.
- Ensure Reservations Team is fully trained on Sales and Upselling techniques
- Maintain an internal upsell / cross sell programme for the Reservations department (benefits / team competition).
- Ensure offers are proactively followed up
- Ensure emails are being answered in a timely manner, as per Company Standard and on the approved templates.
- Ensure the necessary templates are available and reviewed on a regular basis.
Communication, Culture and development:
- Provide Leadership with regular Revenue Management updates.
- Lead the Weekly Revenue Meeting; clearly communicate the strategic vision and objectives on how to drive revenue and improve performance. Ensure the strategy is fully supported by all department.
- Organise regular educational and information meetings on Systems, data entry standard, RM concepts and KPIs for Reservations, Sales& Marketing, Bespoke Agents.
- Keep a close eye on market developments (renovation, special campaigns, theme events etc.) Share this information with colleagues.
- Stay up to date with system development, updates and enhancement as well as industry practises.
Data Quality & Compliance:
- Control Rate Report, Rate Override Report, Comp and House Rooms report and rebates on a daily basis. Spot check reservation made reports and calls.
- Ensure BI tool data is accurate
- Ensure all tasks covered in the Daily / Monthly / Yearly checklists are executed as per guidelines.
Leadership & Team Management
- Ensure there is a fully trained backup person for each of the tasks described in the checklist for Business continuity plan.
- Recruit, train and manage performance of direct reports.
- Set goals, mentor and motivate the team. Conduct regular performance evaluation.
- Assist in developing a career path for direct reports.