The Senior Vice President of Revenue Generation will be a key member of our executive team, responsible for developing and executing innovative revenue strategies to maximize profitability and achieve the hotel's financial goals. This role requires a strategic thinker with deep expertise in revenue management, sales, marketing, digital and business development, as well as a proven track record of driving revenue growth in the hospitality industry.
Essential functions
Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
- Brand Management: Work in tandem with Brands & Management Companies to develop and recommend pricing strategies to attract optimal business mix for either existing segmentation or new segmentation – The goal is to drive PGHM's portfolio market share to maximum performance levels.
- Sales Leadership: Providing visionary leadership to the sales leadership team, setting clear goals, and implementing strategies to achieve revenue targets and market growth objectives.
- Strategic Planning: Developing and executing strategic plans aligned with the company's overall business objectives, market trends, and competitive landscape.
- Team Management: Recruiting, training, coaching, and motivating a high-performing revenue generating team. Setting performance standards, conducting performance evaluations, and fostering a culture of accountability and continuous improvement.
- Sales Process Optimization: Continuously evaluating and optimizing the sales process to enhance efficiency, effectiveness, and customer satisfaction. Implementing best practices and leveraging technology to streamline workflows and drive results.
- Customer Relationship Management: Cultivating and maintaining strong relationships with key customers, partners, and stakeholders. Ensuring exceptional customer service and satisfaction throughout the sales process.
- Market Analysis and Insights: Monitoring market trends, customer needs, and competitor activities to identify opportunities for growth and innovation. Providing insights and recommendations to senior management to support strategic decision-making.
- Revenue Forecasting and Reporting: Analyzing sales data, pipeline metrics, and other key performance indicators to forecast revenue, track progress against targets, and report sales performance to executive leadership and stakeholders.
- Cross-Functional Collaboration: Collaborating closely with other departments such as investment, asset management, product development, finance, and operations to align sales efforts with overall business strategies and ensure seamless execution of sales initiatives.
- Budget Management: Developing and managing the revenue budget, allocating resources effectively, and optimizing return on investment in marketing and digital activities.
- Compliance and Ethics: Ensuring compliance with relevant laws, regulations, and company policies. Upholding high ethical standards in all sales activities and fostering a culture of integrity and professionalism within the sales organization.
- Strategic Leadership: Develop and implement comprehensive revenue generation strategies that align with the hotel's overall business objectives and market positioning.
- Revenue Management: Oversee all aspects of revenue management, including pricing strategies, inventory control, demand forecasting, and yield management to optimize revenue and profitability.
- Sales, Digital and Marketing Integration: Collaborate closely with sales and marketing teams to create and execute targeted campaigns, promotions, and initiatives that drive bookings and increase market share.
- Performance Analysis: Utilize data analytics and performance metrics to monitor and assess revenue performance, identify trends, and make data-driven recommendations for improvement.
- Partnership Development: Build and maintain strong relationships with key stakeholders, including corporate clients, travel agencies, and industry partners, to drive business opportunities and enhance revenue streams.
- Team Leadership: Lead and mentor the revenue generation team, fostering a culture of excellence, accountability, and continuous improvement.
- Market Research and Data Analytics: Stay abreast of industry trends, market conditions, and competitive landscape to inform strategy and maintain a competitive edge. Work with Analyst(s) to ensure accurate preparation and distribution of daily, weekly, monthly revenue reports.
Competencies
- Knowledge of all industry reports such as STR, Hotelligence, Revinate, P&L, Demand360, Market Vision, PMS data, etc.
- Knowledge of all industry systems: PMS, RMS, CRS &/or Sales Automation.
- Expert in Microsoft Excel, Word, PowerPoint.
- Working knowledge of statistical applications & principles.
- Ability to work quickly in a high-pressure & high-stress environment.
- Excellent time management skills
- Exceptional attention to detail and follow up ability.
- Strong analytical skills, ability to clean & interpret Big Data.
- Ability to develop robust new strategic, industry solution concepts that address key opportunity areas by brand, market and/or Management Company.
- Relationship-oriented.
- Excellent communication, interpersonal and persuasion skills required to sell the concept both within the company and within the lodging industry.
- Temperament and ability to lead projects from concept to approval to implementation.
Physical demands
- Must be able to meet the physical demands of remote working including but not limited to:
- Sitting for long periods of time
- Quick response to last minute changes
Travel required
- 30%-40% travel required for this position.
- Must be willing to travel at times for any team property visits, Industry and Brand events, Regional Meetings, or in person revenue generation meetings.
Required education and experience
- Bachelor's degree required or Equivalent Work Experience
- 4+ years in Revenue Management, Sales &/or E-Commerce in Hospitality.
- Ability to travel.
- Previous experience in a senior leadership role preferred.
Preferred education and experience
- Industry certifications through various organizations.
- GRO and OY certified preferred.
Additional eligibility requirements
- Possess general understanding of hotel operations and how operations intersect with revenue/sales
- Self-motivated with strong time management skills, keen abilities to set and achieve priorities
- Strong problem-solving skills, ability to effectively manage multiple tasks simultaneously, function well under pressure, delegate effectively, ability to remain positive and constructive under stress
- Excellent verbal and written communication, effective listening, and presentation skills
- Must be able to work a flexible and adaptable schedule to include infrequent evening and/or weekend meetings
- Must possess a valid driver's license and have reliable transportation
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