A revenue manager generally works in hotels, motels, resorts, and other places of public accommodation. They review and refine pricing strategies, and predict revenue for the lodging establishments.
They help the sales teams, reception, and the establishments' general manager in the promotion, business planning, and pricing of services. Going as far as conducting analyses and studies to develop competitive prices and discounts, they make sure that their organization matches competitors in a fair game over the shifting trends in the hospitality industry. They have to coordinate with various departments to create and track a budget for business operations.
To be an effective revenue manager, analytical, customer service, and organizational skills are important. They excel in oral and written communication, and show great leadership and initiative to achieve the goals for the revenue.
Employers look at candidates' educational background related to hospitality and management for this line of work. In a report released by the U.S. Bureau of Labor Statistics, an eight-percent increase in employment opportunities for lodging managers is set between 2014 and 2024.