Revenue managers provide support and advice to finance managers, directors of sales, and general managers. They are responsible for strategic planning and helping meet a business' revenue goals. Revenue managers must be able to lead and coach team members in customer relations and focus on removing any barriers that would inhibit a good flow of revenue. They must be able to continuously work toward bettering the overall revenue and improve efficiency and productivity where they see fit. Revenue managers play a very important role in implementing policies, training, and processes of the administrative team. They must able to lead a team of supervisors, as well as team leaders. They must be able to prepare and hold regular meetings to push their team to do better, as well as cross-train with other members in the office.
Revenue Manager Tasks
Research the rates of comparable establishments to ensure the hotel remains competitive.
Predict the revenue hotel management can expect to earn in the near future and long term.
Analyze data on customer traffic at a hotel to determine the optimal rates to set for renting rooms.
Work with the marketing team to identify methods for increasing occupancy during slow times of the year.