Revenue / Yield Manager- Cape Town

1 month ago

Cape Town, South Africa HotelJobs.co.za Full time

**Job Purpose**:
**Key Responsibilities**:

- ** Revenue Strategy Development**:

- Develop and implement pricing strategies for the short letting business based on market demand, competitor rates, and historical performance.
- Maximize room revenue by optimizing the balance between room rates and occupancy through yield management techniques.
- Create and manage demand forecasting models to adjust rates and availability accordingly.
- ** Pricing and Inventory Management**:

- Set daily, weekly, and monthly room rates based on demand forecasts and occupancy trends.
- Monitor and adjust availability across various distribution channels, including online travel agencies (OTAs), the company’s website, and global distribution systems (GDS).
- Implement dynamic pricing models and adjust pricing strategies to optimize occupancy and revenue.
- ** Market Analysis & Competitor Benchmarking**:

- Analyze local market trends, competitor pricing, and demand patterns to make informed decisions.
- Monitor competitor pricing strategies and promotions, adjusting the hotel's pricing accordingly to remain competitive in the market.
- Conduct regular market research and maintain a competitive set analysis.
- ** Revenue Performance Monitoring**:

- Review daily, weekly, and monthly performance reports to track key metrics such as Average Daily Rate (ADR), Revenue per Available Room (RevPAR), and occupancy rates.
- Provide actionable insights and recommendations for revenue improvements and operational adjustments based on performance data.
- ** Channel Management**:

- Oversee room distribution across all sales channels to ensure optimal availability and rates.
- Work closely with the sales and marketing teams to manage direct bookings and third-party distribution channels, including OTAs and corporate accounts.
- Implement strategies to reduce dependence on high-commission channels, focusing on increasing direct bookings.
- ** Collaboration with Operations**:

- Collaborate with the front office and reservations teams to ensure seamless communication regarding room availability, rate changes, and booking patterns.
- Coordinate with the marketing team to create promotional offers, packages, and campaigns aimed at increasing bookings and revenue.
- Work with the finance department to ensure accurate revenue forecasting and budgeting.
- ** Forecasting & Budgeting**:

- Develop accurate short
- and long-term revenue forecasts and track actual performance against the budget.
- Analyze historical booking patterns to inform future planning and identify growth opportunities.
- ** Reporting & Analysis**:

- Generate daily, weekly, and monthly reports detailing revenue, occupancy, ADR, and other performance metrics.
- Prepare periodic reports and presentations for senior management to track business performance and recommend strategic actions.
- ** Customer Segmentation**:

- Identify and analyze customer segments to tailor pricing and promotional efforts.
- Work to optimize room rates and offer personalized packages for key market segments, including corporate clients, long-term stays, and leisure travelers.
- ** Continuous Improvement**:

- Stay current on industry trends, tools, and technology to enhance the revenue management process.
- Continuously evaluate and refine the yield management strategy to ensure maximum profitability and efficiency.

**Key Skills and Qualifications**:

- ** Education**: A bachelor’s degree in hospitality management, business, economics, or a related field is preferred.
- ** Experience**:

- Minimum of 3-5 years of experience in revenue or yield management within the hospitality or short-term rental industry.
- Experience managing pricing and inventory for large-scale operations (300-400 rooms).
- Proven track record of optimizing revenue performance through strategic pricing and distribution management.
- ** Skills**:

- Strong analytical skills with the ability to interpret data and generate actionable insights.
- Proficiency with revenue management software and property management systems (PMS).
- Knowledge of online travel agency (OTA) platforms and global distribution systems (GDS).
- Excellent communication and interpersonal skills to collaborate with internal teams and external partners.
- Ability to think strategically and execute on business objectives.
- ** Personal Attributes**:

- Detail-oriented with a strong focus on accuracy and quality.
- Proactive, results-driven, and capable of working under pressure.
- Flexible and adaptable to changing market conditions.

**Working Conditions**:

- Full-time position, typically 40 hours per week.
- May require some evening or weekend work, especially during peak demand periods or special events.
- Based in the office, with occasional visits to properties if applicable.

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