Vice President of Revenue Management
Job Description
The Vice President of Revenue Management is responsible for forecasting, inventory optimization, availability rules, and yield optimization as well as a wide range of marketing automation activities including market research, strategy, and partnership with eCommerce and Digital Marketing to launch programs with the intention of converting, engaging, and retaining guests.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following and other duties may be assigned as necessary:
Conducts research, surveys, personal investigation and studies marketplace and territory in order to effectively capitalize on the casino’s strengths and competitor’s weaknesses
Responsible for recommending and development of hotel room revenue annual budget
Forecasts hotel demand at a daily, weekly, monthly, and annual basis
Maximizes revenue generated by the hotel in both cash and casino play
Recommends and implements changes to hotel pricing, as well as recommending pricing for group as well as other internal and external room blocks
Analyzes robust data sets from a variety of sources, including but not limited to: Slots, Table Games, F&B, Hotel revenue streams
Set and manage appropriate yield controls to maximize the hotel revenue from all distribution channels
Accurate preparation and analysis of market segmentation reports, production reports, source contribution analysis, daily pick-up reports, and pace summaries
Conducts audits to guarantee sell strategy is set correctly in all channels
Lead weekly revenue management meetings and prepare reports for all related meetings
Monitor and analyze the competition daily/weekly through shop reports and the internet to identify selling strategies and market trends
Solve inventory management issues and assist with PMS, RMS, & other systems technical issues, upgrades, and decisions
Ensures that sales strategies and rate restrictions are implemented, communicated, and modified as market conditions fluctuate
Bring new thinking and ways of doing things to the team, as appropriate, including analyzing and championing new metrics and performance indicators to help identify trends
Develop testing strategies, learning agenda, measurement plans, and KPIs, as well as design an experimentation roadmap and execute a rigorous A/B testing agenda to enhance campaign effectiveness
Design and build strategic plans that utilize audience insights and behaviors to inform direction
Develop consistent messaging in collaboration with brand marketing teams across channels
Drive retargeting efforts on and off our platform and ultimately ensure that audience segments are utilized to get our message to the right person at the right time through the right channels
Assist with management of our retention efforts, inclusive of campaigns designed to awaken cold and frozen customers and drive to desired betting behaviors
Collaborate with internal promotions team and provide thought leadership on best opportunities to reach our audiences
Act as a critical thought partner to the CMO, executive leadership, and department leadership across the organization
Promote a work environment that fosters creativity, innovation, and rational risk-taking
Temporary or permanent duties and responsibilities may be added to or modified as deemed necessary
QUALIFICATION REQUIREMENTS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be at least 21 years of age.
Bachelor’s Degree in business management, finance, or related field (MBA preferred) and/or equivalent combination of education and experience
Ten (10) years’ experience of Yield and Revenue Management expertise with a focus on strategic business analysis, strategy, and change management; previous experience in Hospitality preferred
Experience developing unconstrained demand forecast models, exception reporting and management tools, and tactical pricing decision support
Influencing and leadership skills; track record of successfully driving change in large organizations
Have strong project management skills including conceptualization, driving alignment, planning resources, managing deadlines and objectives, and delivering analysis and recommendations
Deep knowledge in customer segmentation as well as excellent analytical and quantitative skills
Experience with forecasting and ownership of P&L
Track record of leveraging technology to deliver results
Ability to distill complex topics and turn ideas into action
High standards as it pertains to accuracy and ethics – while maintaining a high sense of urgency
Ability to deal effectively with ambiguity, competing priorities, and tight deadlines
Must be highly motivated with the ability to learn quickly and thrive in a fast-paced environment
Attention to detail, a sense of urgency, and relentless follow through
Experience with Excel, SQL, Tableau, looker
Excellent personal management skills; time management, meeting deadlines, effective communication, and presentations skills.
Advanced computer skills, including proficiency in MS Office
Strong leadership skills and the ability to organize effectively, delegate responsibility, solve problems quickly and communicate clearly
Ability to provide leadership and direction contributing to the success of the organization through engaging, developing, and mentoring individuals and teams
SUPERVISORY RESPONSIBILITIES
This position supervises all positions in the Revenue Management and Group Room Reservation teams.
DIVERSITY COMMITMENT
Fontainebleau Las Vegas is committed to ensuring an inclusive space and sense of belonging for our Members. We believe our workforce should reflect the vast diversity of the communities we serve, and that diverse voices should be intentionally integrated into our work. We foster a culture of difference and diversity of identity, experience, and perspective, while actively striving for inclusive behaviors across our Company. By promoting these values and continuously pushing for better, we aim to create a positive work environment that encourages equality, inclusion, empowerment, and respect.
CERTIFICATES, LICENSES, REGISTRATIONS
Member must be able to qualify for licenses and permits required by federal, state, and local regulations.
LANGUAGE SKILLS
Ability to read and interpret documents in English, such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to read and communicate verbally in English. Written communication skills in English may also be required.
REASONING ABILITY
Ability to apply commonsense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by a Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the Member is regularly required to stand and use hands and fingers to handle or utilize objects, tools, or controls. The Member frequently is required to reach with hands and arms and talk or hear. Specific vision abilities required by this job include close vision and peripheral vision.
The Member must regularly lift and/or move up to 10 pounds, frequently lift and/or move up to 25 pounds, and occasionally lift and/or move up to 50 pounds, and must have the ability to push, pull, reach, bend, twist, stoop, stack, crouch, kneel and balance when performing job duties in varying work areas such as confined spaces.
WORK ENVIRONMENT
The work environment characteristics described here are representative of those a Member encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Member could be exposed to an environment containing unrestricted secondhand tobacco smoke.
PAY TRANSPARENCY
Fontainebleau Las Vegas believes in developing and supporting our talent into the future. Our compensation program is designed to attract, motivate, and retain talented Members who are the driving force behind the Company’s success. We strive to provide market-competitive compensation. Salary will be commensurate with experience and skill set, considering a candidate’s qualifications, skills, competencies, and experience, as well as internal equity and market data alignment.
In alignment with our Company culture, we will strive to communicate openly about the goals of the Company and the design of the compensation program. The compensation process is designed to be fair and simple so that all Members and managers understand the Company’s goals and future career development opportunities for upward mobility.
