Resort Inventory & Revenue Manager II
Marriott Vacations Worldwide · Bangkok Owner Services
JOB SUMMARY
The Resort Inventory & Revenue Manager position is responsible for maximizing the usage of developer, owner and rental inventory by developing and implementing optimal restriction and allocation strategies, consistently. This position is responsible for utilizing existing historical data and sales pace forecasts to determine the appropriate level of inventory to allocate (based on resort specific guidelines) for owner and exchange usage to ensure we receive the highest Owner Satisfaction Survey results achievable.
This position also works closely with the Regional Preview Inventory team to establish the best strategy for supporting the inventory requirements of Sales & Marketing and then implementing and managing all inventory related activities associated with the agreed upon strategy. Responsibilities also include the on-going development of seasonally competitive rental strategies for the marketplace and the day-to-day management and execution of the strategy.
The Resort Inventory & Revenue Manager will collaborate with Rental Marketing team to develop, implement and monitor demand generating strategies for need times as identified in the on-going 12-month projection process. This position will also complete the required analysis to determine the overall impact of the marketing strategy on the rental segment and identify opportunities for improvement (if applicable) going forward.
Position will be required to continuously evaluate the “Best Use” of available inventory striking the appropriate balance between owner demand, preview needs and rental demand while achieving budgeted rental sales targets.
CORE WORK ACTIVITIES
May include but not limited to:
Ensures that owner, preview and rental inventory authorizations, restrictions and rates are consistently monitored and updated within MARSHA (Marriott’s Automated Reservation System for Hotel Accommodations) and other applicable systems.
Monitor owner, preview and rental booking patterns daily basis and modifies inventory authorizations to ensure straight-line availability and maximization of revenue potential as needed.
Monitor actual reservation bookings against 12-month projections daily to determine if assumptions are ahead or behind pace. Gather and analyze the appropriate data to proactively develop relevant short and long-term sales strategies for optimizing available inventory. Implement restriction and inventory strategies within MARSHA. As needed, communicate strategy changes to applicable stakeholders.
Work closely with the Inventory & Revenue Management (IRM) team responsible for preview inventory. On an on-going basis verify that existing preview inventory allocations will be achieved and if not, determine the best use of available inventory. Conversely, proactively convey any opportunities to increase preview inventory allocations.
Gather and analyze the appropriate data to develop a Bulk Deposit inventory allocation strategy that balances owner, preview and rental requirements with the opportunity to meet Internal International’s demand.
Gather and analyze the appropriate data to develop the appropriate Marriott Rental Inventory allocation and effectively manage all aspects of the program to ensure we consistently meet or exceed owner’s expectations.
Identify, develop and manage opportunities to increase revenues and decrease costs, preempting problems before they impact our business, anticipating future trends, and developing others as appropriate.
Maintain a thorough knowledge of existing data within the business and/or procure the required data on a timely basis to ensure that the immediate needs of our internal customers can be met consistently.
On an on-going basis identify trends, future needs and obstacles to achieving business goals. Surface viable solutions and implement as needed.
Support enterprise-wide initiatives such as Long-Range Planning (LRP) and Annual Budget process. Utilize all available tools and resources to develop requested forecasts and provide the AVP IRM Market Execution with high level summary to support assumptions. As needed, implement all approved forecast assumptions on a timely basis.
On a month/period basis utilize all available tools and resources to complete the 12-month projection process and provide AVP IRM Market Execution with high level summary to support assumptions. Implement all approved forecast assumptions on a timely basis.
Proactively communicate opportunities to increase demand for specified need times to the AVP IRM Market Execution and collaborate with the corporate rental marketing group. Identify viable cost effective/targeted solutions and when applicable implantation roles and responsibilities. Ensure that the required tools and processes are in place to effectively track promotion results and complete the appropriate analysis to quantify the impact of the promotion.
Proactively monitor on-going rental pricing activity within the market and project on a timely basis the potential impact associated with an upward or downward trend to the resort. Utilize data to develop on-going pricing recommendations, effective implementation of new pricing strategies and provide on-going analysis to monitor results as needed.
On a weekly basis utilize all available tools and resources to complete the weekly forecast process and provide required reporting to internal stakeholders on or before the day of week requirement.
Actively participate in on-going period/monthly regional reviews by; preparing the appropriate resources, providing updates regarding the resort and/or market that may impact other resorts within the region and sharing best practices.
Ensure proper understanding of all Inventory & Revenue Management philosophies and accurate and timely execution and ongoing management of departmental processes.
As requested, participate in the training and development of new Inventory & Revenue Management associates that may not directly work at your assigned resort. Also provide job shadowing opportunities to internal stakeholders who are interesting in learning about inventory and revenue management.
Effectively communicate Inventory & Revenue Management philosophies as they pertain to recommended strategies to property staff and other department stakeholders.
Ensure regular on-going communication is happening in all areas of responsibility to create awareness of business objectives and communicate expectations, recognize performance and produce desired business results.
CANDIDATE PROFILE
4+ years of relevant professional experience (travel industry, revenue management).
Degree preferred.
Strong problem solving, analytic, and decision-making skills. Ability to interpret data and trends, diagnose problems, and formulate effective action plans to resolve issues.
Highly developed and effective verbal and written communication skills.
Ability to explain complex ideas clearly and concisely in a manner appropriate to the audience.
Proven ability to develop and maintain effective relationships with a broad group of stakeholders.
High attention to detail and ability to effectively manage multiple projects at the same time. Successfully able to meet deadlines through effective multi-tasking and reprioritization.
Must possess strong leadership and teamwork skills, but must also be able to work independently.
Self-motivated.
Strong desire to continuously learn and develop.
Ability to travel 5-10% of time.
COMPETENCIES - Fundamental competencies required for accomplishing basic work activities
CRITICAL COMPETENCIES
Leadership
Adaptability - Determines how change impacts self and others; displays flexibility in adjusting priorities; and communicates both the reasons for change and how it impacts the workplace.
Communication - Customizes approach to conveying complex information and ideas to others in a convincing and engaging manner; appropriately interprets verbal and non-verbal behavior; and models active listening to ensure understanding.
Problem Solving and Decision Making - Models and coaches others on breaking complex issues into manageable parts, identifying and evaluating alternatives and their implications before making decisions, and involving and gaining agreement from others when making key decisions.
Professional Demeanor - Exhibits behavioral styles that convey confidence and command respect from others; makes a good first impression and represents the company in alignment with its values.
Managing Execution
Building and Contributing to Teams - Leads and participates as a member of a team to move the team toward the completion of common goals while fostering cohesion and collaboration among team members.
Driving for Results - Sets high standards of performance for self and/or others; assumes responsibility for work objectives; initiates, focuses, and monitors the efforts of self and/or others toward the accomplishment goals; proactively takes action and goes beyond what is required.
Planning and Organizing - Gathers information and resources required to set a plan of action for self and/or others; prioritizes and arranges work requirements for self and/or others to accomplish goals and ensure work is completed.
Building Relationships
Coworker Relationships - Interacts with others in a way that builds openness, trust, and confidence in the pursuit of organizational goals and lasting relationships.
Customer Relationships - Develops and sustains relationships based on an understanding of customer needs and actions consistent with the company’s service standards.
Global Mindset - Supports employees and business partners with diverse styles, abilities, motivations, and/or cultural perspectives; utilizes differences to drive innovation, engagement and enhance business results; and ensures employees are given the opportunity to contribute to their full potential.
Generating Talent and Organizational Capability
Organizational Capability - Evaluates and adapts the structure of team assignments and work processes to best fit the needs and/or support the goals of an organizational unit.
Talent Management - Provides guidance and feedback to help individuals develop and strengthen skills and abilities needed to accomplish work objectives.
Learning and Applying Professional Expertise
Applied Learning - Seeks and makes the most of learning opportunities to improve performance of self and/or others.
Business Acumen - Understands and utilizes business information to manage everyday operations and generate innovative solutions to approach team, business, and administrative challenges.
Technical Acumen - Understands and utilizes professional skills and knowledge in a specific functional area to conduct and manage everyday business operations and generate innovative solutions to approach function-specific work challenges
Personnel and Human Resources — Knowledge of principles and procedures for personnel recruitment, selection, training and development, compensation and benefits, labor relations and negotiation, and personnel information systems.
Compensation and Benefits - The knowledge of principles, regulatory laws, and application of human resources compensation and benefit methods, including workers compensation and work accident procedures.
Associate Relations - Knowledge of the broad range of relationships that could impact an employee, employer, or applicant. This includes knowledge of federal and state laws, company policies and practices, and ethical obligations to investigate, evaluate, and recommend an appropriate resolution to an employee or labor relations complaint.
Recruitment and Hiring - Ability to recruit, interview, and hire qualified candidates. This includes knowledge of best practices for each stage of the selection system.
Training - The ability to perform training needs assessment analysis, develop training programs, and effectively delivering training modules to employees.
Payroll - Knowledge of principles and application of human resources hourly and management payroll methods and practices.
Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Computer Skills - The ability to use HRIS Systems (working knowledge of tools and processes for monitoring and evaluating personnel data), ability to use PeopleSoft software, and ability to use Microsoft Office (excel, word, access, and outlook).
Basic Competencies - Fundamental competencies required for accomplishing basic work activities.
Basic Computer Skills - Uses basic computer hardware and software (e.g., personal computers, word processing software, Internet browsers, etc.).
Mathematical Reasoning - Demonstrates ability to add, subtract, multiply, or divide quickly, correctly, and in a way that allows one to solve work-related issues.
Oral Comprehension - Demonstrates ability to listen to and understand information and ideas presented through spoken words and sentences.
Reading Comprehension - Demonstrates understanding of written sentences and paragraphs in work-related documents.
Writing - Communicates effectively in writing as appropriate for the needs of the audience.
Marriott Vacations Worldwide is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture.