Revenue Manager
The Company
Caesars Entertainment Corporation is the world's largest casino entertainment company. Since its beginning in Reno, Nevada more than 70 years ago, Caesars has grown through development of new resorts and through expansions and acquisitions.
The company’s resorts operate primarily under the Harrah's, Caesars and Horseshoe brands. Caesars also manages the World Series of Poker and owns the London Clubs International family of casinos.
Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.
Caesars is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment.
Location
United States
Department Goal
Revenue Management is charged with yielding an inventory of hospitality assets and more than 40,000 hotel rooms across the company’s portfolio to maximize total Enterprise profit.
Job Overview
Caesars Entertainment operates properties across the country and generates over $1.4B in hotel revenue annually. Revenue management is charged with yielding our assets to ensure the enterprise is receiving maximum return on every unit sold based on : detailed forecasts of the multiple revenue streams of our customers, booking patterns by distribution outlets, seasonal and competitive dynamics impacting demand, and other key drivers of the business.
The revenue professionals in these roles work directly with Executives across all properties and departments to develop the strategies, tactics, and tools necessary to maximize the yield on each unit sold, including providing timely forecasts and recommendations to identify and maximize revenue opportunities.
The qualified candidate is a seasoned revenue management and analytics professional capable of building industry-leading tools and processes while leading an organization with broad geographic coverage.
Successful candidates also have strong executive presence, business acumen and presentation skills.
Primary Responsibilities
Support and Reporting
- Provide daily support to the Directors and VPs of Revenue Optimization
- Provide weekly and ad-hoc Revenue Management executive reports
- Research additional revenue-generating processes and implement new procedures
- Develop analytical skills and contribute to department’s continuous improvement
Business / Functional Results
- Manage hotel performance for a hotel or portfolio of hotels with goal to grow market share, beat cash revenue targets while maintaining lodging contribution to casino gaming targets.
- Must approach work in a structured manner to ensure ad-hoc requests or analyses do not interfere with execution of daily, weekly and monthly critical tasks for each hotel.
- Ensure full optimization and utilization of critical RM systems.
- Produce weekly forecast and ensure accuracy for effective segment yielding and pricing.
- Identify need times and partner with Casino, Hospitality Marketing to ensure profitable events and promotions are in place to drive incremental demand over need dates.
- Partner with group sales to align demand trends and To-Be targets to ensure targets are met.
- Ensure blocks for Group, NCM, and Tour segments are managed appropriately.
- Be the gatekeeper to prevent needless discounting that promotes trade down, cannibalization or displaces higher value customers.
Inform VP of Revenue Management of conflicts.
- Set criteria for casino discounting based on demand levels. Set NI criteria and work with casino marketing to ensure Event and DM offers map to demand needs.
- Monitor room pace and pricing; adjust and align strategy as needed to achieve goals.
- When hotel performance falls below expectations, identify root cause of shortfall; leverage other analytic groups as needed.
Socialize root cause and align stakeholders on mitigating strategies to correct performance problems.
- Develop annual lodging budgets and align stakeholders on budget strategy.
- Meet deadlines and communicate with VP pro-actively to renegotiate deadlines at risk.
Leadership / Managing Execution
- Anticipate Market demand environment and collaborate with VP of Revenue Management to develop strategies that deliver the most profitable mix of customers across Casino Comp, Casino Cash, FIT Retail, FIT Discount and Group segments.
- Ensure Casino, Marketing, Leisure Sales, Group and other critical departments are aligned on strategy to execute flawlessly.
Leverage VP of Revenue Management as needed to accomplish this task.
- Recognize shifts in market demand environment and pivot quickly to adjust strategies. Align critical departments to ensure flawless execution.
- Proactively communicate strategies with key stake holders to ensure alignment. Build comfort when taking risk, establish credibility and confidence in RM discipline.
Leverage VP of Revenue Management to accomplish this task.
Lead effective bi-weekly Hotel / Pod meetings to communicate performance, forecast risk / opportunity and actions needed to meet / exceed targets.
Building Relationships
- Foster strong relationships with key departments : casino marketing, hospitality marketing, marketing analytics, ecommerce, distribution, leisure sales, group sales.
- Build effective working relationships with property and pod leadership. Ensure leadership understand the value of revenue management activities and are aligned on strategies to achieve goals.
- Sell ideas persuasively and influence without direct authority.
- Keep VP of Revenue Management aware of conflicts and decisions that have material impact on results.
Learning / Applying Personal Expertise
- Actively pursue learning and self-development to enhance personal, and professional growth.
- Seek and welcome feedback. Take action to enhance performance based on experiences & coaching. Admit to and learn from mistakes.
Preferred Qualifications
- Knowledge of LMS / AS400 strongly preferred
- Experience with Microsoft Excel strongly preferred
- Ability to communicate effectively with a wide range of stakeholders, including Executive-level leaders
- Bachelor’s Degree in Business, Economics, Engineering, Finance, Revenue Management, Hospitality Administration or in another quantitative field preferred;
or equivalent work experience in a related field
Knowledge of casino resort hotels a plus
Background Check
As part of Caesars Entertainment’s employment process, candidates will be required to complete a background check prior to an offer being extended.
These background checks include :
- Prior Employment Verification
- Education Verification
- Social Security Trace
- Criminal Background Check
- Drug Screen
- Motor Vehicles Records (where required for position)
Caesars Entertainment supports workforce diversity.
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