Related Partners Revenue Manager (Luxury Residential) in New York, New York
SCOPE AND PURPOSE:
Work with the Senior Vice President and company leaders to ensure execution of strategies, processes and technology to optimize the performance of each property. Responsible for evaluating the performance of assets using the revenue management tools. Benchmark data to market reports, budgets or other established goals set by the firm. Prepare summaries, presentations, reports, recommendations and other interpretive reports to support business decisions.
DUTIES AND RESPONSIBILITIES:
The Revenue Manager is directly responsible for:
Required to maintain expert knowledge of the revenue management application and related business procedures for managing pricing and reporting results
Facilitate regular pricing calls to review data and provide insight into pricing recommendations
Ongoing review of new lease and renewal parameters, assigned amenity values, lease terms, competitor data and other rent optimization settings
Regular communication with Vice Presidents, Asset Managers, General Managers and Regional Managers regarding pricing changes, renewal rates or proposed adjustments at each property
Manage amenities and premiums based on supply and demand trends and identify focus areas for revenue optimization opportunities
Monitor adoption behavior by tracking pricing overrides and lease compliance
Monitors/enforces the use of set pricing structure by gaining buy in and maintaining a good rapport
Data compilation and configuration for new site revenue management implementations
Report on financial performance results and provide updates to executive team as requested
Deliver training presentations and update training materials related to revenue management software best practices
Seasonal parameter reviews and modification for optimal results
Mastery of the concept of revenue management and the role of driving revenues and improving operational efficiency
Ability to lead and build internal collaborative environment to drive analysis-driven change of management initiatives through the organization
Ability to communicate effectively at all levels of the organization through both verbal and written communication skills
Detail oriented, analytical and methodical
Friendly yet authoritative communication style
Strong interpersonal skills with the ability to influence, motivate and develop associates
Ability to multi-task and juggle various projects simultaneously
Possess strong organizational skills and sense of urgency
Works well independently, takes initiative and can effectively prioritize
Ability to develop and deliver effective presentations
Ability to work outside normal business hours on a regular basis due to the time sensitivity of revenue management
Strong analytical skills and ability to learn new systems quickly
Advanced technical software skills (Excel, Power Point and Word)
Ability to analyze financial statements and market data
Quarterly and monthly performance measurement analysis and reporting to senior management regarding financial results and market conditions.
Provide input and feedback regarding revenue management system features and functionality to provider for future enhancements.
Interpret and understand economic, demographic and supply demand trends for the U.S. and how they impact real estate fundamentals.
Minimum 3 years either as a Financial Analyst or Multifamily/Hotel Revenue Management experience
Revenue Management, Financial Analysis or related field experience
Prefer experience managing the LRO Revenue Management Application
Yardi experience preferred
#APCS1 #GLCS1 #LI-CS1 #CB #CB2
Related is an Equal Opportunity Employer
- Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.
External Company Name: Related Partners, Inc.
Street: 423 West 55th Street