MGM Resorts International
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Director Revenue Management
at MGM Resorts International
Location:Las Vegas, Nevada
Become one of the stars behind the show and become part of the world’s most powerful entertainment brands. Our Company has one exciting mission: To entertain the human race.
It is the primary responsibility of the Director of Revenue Management to maximize overall hotel revenue through development and implementation of effective inventory and pricing strategies based on future demand forecasts, current trends and historical data. The Director of Revenue Management is also responsible for determining the optimal mix of customers and managing the distribution strategies on all channels to drive market share. Incumbent is also responsible for development and implementation of effective strategies to maximize total hotel revenue. All duties are to be performed in accordance with departmental policies, practices and procedures.
- Develop a forward-looking strategy, building connections between tactics and execution and strategy.
- Ability to guide large teams, multiple properties and multiple projects.
- Create teams for projects, set direction, plan and execute work, manage and delegate.
- Conduct meetings with Senior Leaders.
- Set prices, build forecasts and create budgets for large complex buildings.
- Ability to make technical/domain decisions with minimal supervision
- Optimize RevPAR by analyzing/forecasting demand and establishing effective selling strategies, oversell strategies, and optimal market mix.
- Develop and implement effective reports and analyses to optimize revenue in each market segment and Distribution Channel.
- Consolidate, prepare and communicate yield management data for senior management on a daily basis, offering recommendations for revenue maximization (Forecasts, rate changes, competitive impacts, and dilution and displacement analyses).
- Develop and implement a consistent and best of breed set of templates, reports and analyses.
- Conduct ongoing competitor price and product analyses to ensure proper rate positioning and product offering relative to competition.
- Responsible for all short and long-term forecasts including weekly forecasts, 30-60-90-120 forecasts, in-the- month forecasts, and the annual budget.
- Oversee the collection and data storage of key historical data to assist the properties in the ongoing daily implementation of rate strategies, analysis of reports, recommendations for continued revenue generation and efficiencies.
- Develop and maintain an evaluation program to determine results from consolidated Revenue Management Meeting decisions.
- Assist in the financial forecasts and evaluation of various marketing, value added, and pricing programs to ensure they are delivering the expected contributions to RevPAR and profits.
- Provide input and direction in the development and monitoring of fiscal budgets, division operations and marketing strategies to produce both short term and long-term profitability for the property.
- Investigate and identify new distribution channel opportunities and manages for optimum channel inventory access.
- Review and recommend all promotional opportunities, sponsorships, and strategic partnerships with various internal departments within the property and corporate.
- Continuously investigate new profit and growth opportunities. Consolidate, simplify and create new and existing reports for data analyzing.
- Understand the macro and micro-economic variables affecting supply and demand in the local marketplace, and use this knowledge to create accurate operational and financial room revenue forecasts.
- Monitor and communicate fluctuations in occupancy to operational departments so they can effectively manage staffing requirements and increase efficiency.
- Oversee process for evaluating all opportunities for contracted business (group, wholesale, corporate negotiated, etc.) presented through the Sales department. Ensure that process enables high speed of response while maximizing profits.
- Complete all required month end reports with detailed analysis. If necessary, complete action plans for the property to follow to create additional production/revenue.
- Oversee and ensure timely preparation of various monthly, quarterly and annual reports in accordance with established practices and procedures, distributing reports to management as appropriate.
- Participate in the development of the property pricing strategies to ensure corporate increased volume, market share, and hotel revenue, monitoring current booking trends and recommending marketing strategy modifications accordingly.
- Responsible for managing and developing the property’s Revenue Analyst to become a Revenue Manager.
- Performs other job-related duties as assigned.
- A Bachelor of Science degree in Hotel/Business Administration, with emphasis in Statistic, Finance, Accounting or Marketing is required.
- At least six (6) years relevant experience
- Experience in financial analysis, accounting principles and theories with the successful application of these concepts in a hotel/casino environment.
- Knowledge of an Automated Revenue Management system preferred.
- SAS or SQL knowledge.
- Previous experience working in a similar resort setting.
MGM Resorts International develops, builds and operates unique destination resorts designed to provide a total resort experience, including first-class accommodations and dining, world-class entertainment, state-of-the-art meeting and convention facilities, and high-quality retail and gaming experiences.
With 77,000+ employees, the Company is one of the world's leading global hospitality and entertainment companies with 23 resorts. We’re proud to be recognized for our commitment to being socially responsible, including an industry-leading diversity and inclusive culture, community engagement and philanthropy initiatives, and a commitment to environmentally sustainable approaches in development and operations.
While we operate leading resorts and amenities, ultimately it is the people of MGM Resorts who make the difference daily by providing the ultimate guest experience. We welcome you to join us.
If you are an individual with a disability and need a reasonable accommodation for any part of the application process, or in order to perform the essential functions of a position, please contact our Corporate Diversity and Disability Outreach department at email@example.com.