With recent improvements in technology and a focus on acquisition cost, the defining characteristics of today’s ideal revenue manager have changed—and through our work at Charlestowne Hotels, we’ve identified a new wave of skill sets needed to hire industry-leading talent.
What was once focused on finding analytical entrepreneurs who were self-sufficient and data-oriented has now shifted to finding someone that is a cross-disciplined, inventive leader.
This traditionally introverted person now needs to step out from behind the Excel sheet and take the lead on implementing strategic change.
While we are interested in those who display an expertise in their subject matter, it’s imperative we look for a candidate who can also participate in a meeting that incorporates all disciplines.
Revenue managers don’t need to be asset managers, marketers, or a director of sales, but they should have a general understanding of each department inside the operation. The responsibility to generate revenue comes with the obligation of knowing how that demand was generated and how it flows to the bottom line.
Identifying this talent in an interview is probably the easiest, as you can often ask pointed questions regarding the candidate’s experience interacting with individual departments.
It’s not always a prerequisite that they’ve had this type of comprehensive interaction—especially if they measure up in all other hiring categories—as we are most interested in whether they at least show an interest in learning how these outside factors impact revenue.
What we don’t want to hear is, “They handle their department, and I’ll handle mine.”