Manager Revenue Management

Job description

Role Name: Manager – Revenue Management Job Purpose : 1. Ensure that revenue generation is optimized through the application of right pricing strategy and inventory allocation, for all distribution channels 2. Support on all issues relating to reservation/booking systems Key Accountabilities Strategic Activities 1. Design and own the revenue & route management strategy to optimize revenue generation, in line overall organizational targets 2. Prepare tactical, customized revenue management strategies for to suit different distribution channels Revenue & Route Management 1. Keep track of competitor revenue and route management metrics 2. Keep abreast of industry best practices on revenue management, best-in-class systems and tool, pricing analytics, etc. 3. Lead teams to track and monitor revenue and passenger metrics; follow-up with team and other departments (as necessary) in case targets are not met 4. Direct teams to periodically benchmark and monitor revenue & route strategy against competitors 5. Direct and enable team to take decisions on maximizing revenue per flight 6. Maintain routes in line with performance and budget expectations through the careful management of the fare-class system and provide input on inventory management of seat sales 7. Regularly identify areas of revenue leakage and build tactical strategies to close the same 8. Ensure revenue management, route & automation activities work in tandem to maximize revenue per flight in all scenarios 9. Collaborate and interact with other Commercial Function Heads to ensure revenue management activities are in line with overall sales / channel strategies Revenue Management System & Automation 1. Provide guidance to team on resolution and support for reservation and booking system related queries 2. Accountability for improving/automating revenue management process, pricing, forecasting models, systems, and tools; ascertain the implementation of AI/ML, predictive modelling, etc. in this area Team Management 1. Provide direction and tactical guidance on revenue & route management and automation decisions to the team as and when required 2. Support, nurture and develop the team members’ skills required for revenue management, route management & automation Any other additional responsibility could be assigned to the role holder from time to time as a standalone project or regular work. The same would be suitably represented in the Primary responsibilities and agreed between the incumbent, reporting officer and HR. Skills Required for the role: Financial Acumen Team Management Strong Communication skills Competitor Awareness Critical Thinking Strong analytical abilities Revenue management system expertise Market awareness of tools and systems available Key Interfaces Leadership Interfaces Senior Management • Prepare detailed reports and suggestions to the senior Management on change in revenue management strategy in accordance with needs and requirements Internal Interfaces Commercial • Collaborate and interact with other Commercial Function Heads to ensure revenue management and pricing activities are in line with overall sales / channel strategies External Interfaces Third Party Vendors/Suppliers • Lead and manage the airline’s RM services and system suppliers to deliver targeted performance outcomes Regulatory Authorities • Oversee all RM contracts and agreements; ensure compliance with regulatory requirements Educational and Experience Requirements Minimum Education Requirement Masters/MBA/PGDM/PGP/PG degree, preferably in Finance or Economics Minimum Requirement - 7 years of experience with Airlines or OTA .