Chief Revenue Strategies Officer
Salisbury, MD (or Cranston, RI) - hybrid
Our client is one the most respected privately held real estate firms in the United States located just over an hour south of Boston. Founded in 1958, this second-generation real estate investment and management company has built a broad national platform that encompasses all sectors of real estate. Our client is a vertically integrated, diverse organization with multiple wholly owned, performance-driven operating companies delivering meaningful solutions to the unique demands of a complex industry. For over 50 years and through nearly 1,000 real estate transactions, our client has owned, developed, and managed hundreds of assets coast to coast, surpassing 60 million square feet of real estate with a historical portfolio valued in the billions.
The Chief Revenue Strategies Officer will be responsible for oversight of all revenue strategies, digital and e-commerce initiatives, sales & marketing, and business intelligence. This position will supervise the Vice President of Revenue Management, Vice President of Sales & Marketing, Vice President of E-Commerce and Vice President of Business Intelligence, and will work closely with the Revenue Management team, Regional Directors of Operations and Regional Directors of Sales to ensure budgeted revenue goals are achieved. The position will be responsible for oversight of centralized revenue management office, reservation call center and several property-based Directors of Revenue/Revenue Managers. Will interact with Brand personnel, external web vendors and other partners to ensure our client’s properties receive appropriate attention and full benefit of these resources. Provides information, guidance, and direction to corporate and hotel management in all areas related to eCommerce and social media. Will manage through the regional support structure to ensure all hotels under management are properly positioned to take full advantage of market trends and to achieve Company revenue objectives. Ensures all efforts are in alignment with the vision and direction of the Company, brand requirements, and local, state and national regulations. The Chief Revenue Strategies Officer articulates Company goals and demonstrates commitment to these goals through work ethic, integrity and respect for the Company
and its associates.
This position interacts with Brand representatives, property owners, investors, and other constituents, responding to inquiries and requests accordingly. Works directly with the Company’s corporate staff and responds to issues and needs including sales, asset management, accounting, human resources, and others.
- Revenue – Articulate the Company vision and strategy to achieve top line revenue goals. Provide oversight of all revenue, e-commerce, sales & marketing, and business intelligence functions for hotels serviced by the organization. Direct teams and develop action steps to improve REVPAR performance. Oversee all strategies to ensure STAR index gains that meet Company objectives. Review and recommend rooms and catering strategies, including pricing, inventory, and channel management, in order to achieve budgeted revenue and maximize market share. Ensure proper mix of business through the use of market data, historical information, inventory controls and pricing strategies. Review and approve displacement analyses with property revenue teams. Develop and implement property-specific action plans as necessary to address performance deficiencies. Maintain keen awareness and oversight of online real estate through updated and effective ecommerce/revenue initiatives. Ensure that all Brand paid search campaigns are optimized and are performing at desired levels.
- Ecommerce – Stay up to date on best practices surrounding ecommerce, digital marketing, and data collection. Make recommendations on a company and individual property level. Oversight of social media, strategies surrounding third party booking platforms, digital marketing efforts, and cross-marketing efforts.
- Financials / Reporting – Ensure revenue tracking and analysis tools are used per Company standard operation procedures. Review and approve bi-monthly forecasts, annual budgets, and strategic plans. Be able to understand and interpret market conditions, trends, and the competition by analyzing STAR, Hotelligence, and all other revenue management brand or third-party data. Ensure forecasting accuracy to meet Company objectives. Monitor forecasts regularly to identify and deter potential variances. Participate in annual budgeting process for applicable areas, in accordance with company guidelines and directives. Provide current and accurate financial information to corporate personnel as requested.
- Profitability – Ensure expenses, staffing levels and payroll costs are within budgeted guidelines. Ensure all accounting policies and procedures are being followed and hotels are in compliance. Investigate and oversee implementation of new and improved services to capture more guests and a larger share of the local market. Maintain a working knowledge of relevant trends and best practices in business management and finance, so business opportunities can be identified and capitalized on in the continually changing economic and business environment. Submit recommendations for changes and improvements to superiors.
- Operations – Participate in weekly strategy meetings for each hotel no less than once per month. Review strategy meeting notes weekly. Actively participate in revenue reviews and property visits, identifying and responding to critical need areas and trends. Provide ongoing training to revenue team members about Brand, Company and third-party revenue management tools, systems and strategies. Ensure timely and effective implementation of Brand and Corporate revenue initiatives. Participate in hotel acquisitions / dispositions as requested, working closely with appropriate corporate personnel. Serve on Brand advisory committees as appropriate.
- Human Resources – Clearly communicate Company standards and expectations to direct reports and property revenue teams. Ensure company policies and procedures are being followed in areas related to employment, discipline and wages. Coach, counsel, resolve conflicts, discipline and terminate as appropriate through fair treatment. Insist on a work environment that is free from harassment. Develop qualified candidate pool through networking
and interviews to minimize position vacancies. Train centralized RM associates and assist in property training initiatives as appropriate. Maintain ongoing awareness and understanding of Brand training programs.
- Leadership – Provide direction in a manner consistent with the requirements of the Company, management contract, franchise agreement, and local, state, and national regulations. Develop, coordinate and direct activities that foster effective business relations with brand management. Keep abreast of brand standards and the competition's products and strengths to continually improve revenues and profit margins while maintaining quality. Use
business/management knowledge, applications in the industry, and experiences to provide leadership, both internally and externally, to position the hotel as a market leader. Be a coach with a positive attitude. Ensure optimal levels of quality service and hospitality are provided to constituents. Regular and timely attendance with high standards of personal behavior, appearance, and grooming.
- Communication - Ensure all communication containing Company, hotel, brand and guest information is consistent with privacy policies, practices and regulations. Interact with and represent the revenue discipline to senior executives of the Company. Maintain a consistent professional and positive attitude when communicating with clients and associates. Maintain effective two-way communication that crosses departmental lines and reaches all levels of associates. Approach all encounters and actions with guests and associates in a friendly, service-oriented manner. Conduct regularly scheduled meetings with hotel revenue teams to provide organizational information and educate associates on changes and activities. Communicate hotel activities and plans with superiors and obtain appropriate consultation, guidance, and approval. Communicate and implement Brand initiatives in timely and effective manner.
- Life Safety/Risk Management - Promote culture of workplace safety and accident prevention to minimize liabilities and related expenses.
- Asset Management – Work collaboratively with the Corporate Office to ensure Company assets are accurately tracked and protected. Submit to superiors’ recommendations on changes and improvements.
- Administration – Compile and analyze various corporate and property reports to provide management with accurate information and to comply with corporate policies and procedures. Complete all required and requested reporting in a timely and accurate manner. Review Brand reports regularly. Perform special projects and other responsibilities as assigned. Participate in task forces and committees as requested.
- A college degree preferably in hotel management and/or business.
- At least three to five years of above-property Revenue, E-Commerce, and Sales & Marketing experience is required.
- Must be recognized within the hospitality industry as a person with integrity and ethical grounding.
Skills and Abilities:
This position requires a substantial and successful track record in all facets of revenue strategies within the hospitality or related industry, while maintaining integrity and professional bearing.
- Expert knowledge of all revenue strategy principles and practices in the hotel or related industry. Ability to anticipate and identify issues and exercise initiative to investigate, interpret and weigh alternatives to reach logical conclusions and make sound business decisions.
- Display consistent professional leadership while simultaneously handling competing and changing priorities and projects. Remain positive, resourceful and possess the ability to improvise while working in a fast-paced environment, sometimes under pressure.
- The ability to effectively and efficiently schedule, manage and delegate work. Appropriately and effectively interview, hire, motivate, develop, monitor and address staff performance matters. Possess excellent listening, verbal and written communication skills with professionalism, diplomacy and confidentiality.
- Computer proficiency in Microsoft office, brand reservations and revenue management specific tools, and property management systems. Must satisfy and comply with the legal requirements for employment within the jurisdiction.