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Overview:
Comprising of The First Group’s award-winning hotels and restaurants, The First Collection is an innovative lifestyle brand offering exciting hospitality services and unforgettable dining experiences.
The First Collection’s portfolio of five operational hotels are renowned for their world-class service and cutting-edge amenities designed to ease guests into their stay. The First Collection at JVC opened in September 2021 and is the first branded and managed hotel under the group. Grand Heights Hotel Apartments, offers comfortable studios and one-bedroom apartments in the heart of the city, and is owned and managed by The First Collection. Bringing to the market a range of franchised properties, the group also manages TRYP by Wyndham Dubai and Wyndham Dubai Marina, which are franchises of the Wyndham Group. While Citadines Metro Central Dubai, offers hotel apartments in a prime location and is a franchise of The Ascott Limited.
The First Collection’s restaurants offer exceptional and original dining experiences that focus on creating unique lifestyle-driven dining concepts with a strong emphasis on quality and affordability. The rapidly growing portfolio of restaurants, cafes and bars features a dynamic mix of homegrown brands and recognised International franchises, including MasterChef, the TV Experience – the world’s first restaurant based on the global TV phenomenon. With an emphasis on social dining, this exciting restaurant portfolio is helping establish the collection of upscale and upper midscale hotels among Dubai’s hottest gastronomic and lifestyle destinations.
With ambitious growth plans in the years ahead , The First Collection will be opening numerous upper scale hotels and a series of dining concepts throughout Dubai.
Job Description:
The Revenue Manager is responsible for the strategic oversight of revenue management across TFG Asset Management’s hotel portfolio. In this newly created role, the candidate will oversee the revenue management function from an asset management perspective by providing strategic guidance to support the hotels and ensuring that room revenue is maximised through effective pricing and inventory management. The candidate will also directly be involved in providing Revenue Management services to one of our hotel apartments and a four star hotel that will be opened in one year. The revenue manager is central to establishing revenue management expertise as part of the asset management team’s core offering. The candidate will represent the asset manager’s interest in revenue management at the property level by assessing the strategies proposed by each hotel and monitoring the execution. The role involves the implementation of ad-hoc projects, which are subject to the various requirements of each property.
Operator-Managed Hotels (Management)
- Represents TFGAM’s views to validate and analyse the revenue management strategies employed by the
hotels. - Provides revenue analysis functional expertise to the asset management team and hotel operators.
- Analyses and monitors the daily, weekly and monthly reports, communicating with the hotels to devise
weekly performance strategies. - Prepare internal weekly forecasts, monthly forecasts and 3 month forecasts.
- Initiate and support strategic and tactical changes to optimise room revenues.
- Participation in the monthly performance reviews of each hotel.
- Assist with the analysis of the annual budget and monthly revenue reports.
- Provides guidance on the segmentation strategy for feasibility studies on new projects.
Owner-Managed Hotel (Franchise)
- Develop overall pricing strategy to include all market segments and distribution channels.
- Formulate Retail Pricing Structure, provide guidance on corporate transient negotiated pricing, group
pricing for each group, wholesale pricing and acceptance. - Ensure effective pricing strategies are in place to reflect asset strength relative to the competition in market.
- Effectively manage inventory and pricing strategy in all distribution channels including branded web, 3rd party sites, and the GDS.
- Enforce logical leisure pricing hierarchy for marketing promotions.
- Closely monitor competitive pricing and understand the impact of relative pricing decisions on property performance. Set selective sell guidelines for groups and coordinate management of group business closely with the sales and banquet teams.
- Drive Market Share and Revenue Performance through proper pricing and mix management.
- Analyse competitive reports and formulate appropriate strategies through use of reports.
- Responsible for effective implementation and compliance with all standards, policies & procedures. (Rate Plans, Rate Categories, Market Segmentation and Smith travel Research (STR) reports, Profiles and all other PMS/IPS related RM functionality).
- All Rate Solicitations acted upon in a timely manner and rate plans maintained and extended as appropriate. The CRM has sole responsibility for the quality of all pricing setup in the PMS system.
- Responsible for administration of the online Revenue Plan and the accuracy of all room’s data as input into the system.
- Responsible for the preparation of 30-60-90 day fully updated Forecasts on a monthly basis. Also responsible for preparation of the ‘mid-month forecast by the 15th of each month.
- Forecasting Accuracy for the respective segmentation and overall rooms revenue in line with the KPI Guidelines.
- Responsible for preparation and presentation of Rooms Revenue Management elements as part of the annual budget process. (Market Analysis, Comp Pricing, Product Quality, Rooms Production etc.).
- Lead the property’s weekly Revenue Management/Strategy Meeting and contribute to the Daily Operations Meeting.
- Participate in the Talent Review and management process for Revenue executive / Revenue analyst / AM
- Complete understanding and effective execution of current and new Revenue Management systems and Tools.
- Initiate training requests where knowledge gaps exist, and secure the appropriate technology training for direct reports.
Desired Skill & Expertise:
- Practical working experience within hotel revenue management for a minimum of five years, with a minimum of 2 years in the UAE.
- Familiarity with all aspects of yield management, maximising room occupancy, rates and profits.
- Previous experience of developing budgets and forecasts.
- Operate effectively as team player who is able to work across multiple functions and disciplines.
- Ability to work independently as required.
- Good communication skills, strong in spoken and written English.
- Ability to work accurately and effectively under pressure.
