What does a revenue manager do?
A revenue manager is responsible for conducting price analysis and revenue strategies to support business development and improve marketing techniques. Revenue managers research on the current market trends, evaluate statistical data of resources, maintain reasonable rates, and match the competitiveness of other hotel industries. They also work closely with the marketing and public relations team on releasing press releases, managing media appearance, and publishing content on the digital platform. A revenue manager must have excellent communication and organizational skills, tracking business and financial transactions, and coordinating with potential clients for partnerships.
Revenue manager responsibilities
Here are examples of responsibilities from real revenue manager resumes:
- Manage room availability and rates on a daily basis within the PMS, OTA and CRS to maximize room revenue.
- Manage OTA channel partners and perform market analysis including monitoring trends, need periods, promotional opportunities and rate parities.
- Manage and oversee performance of all OTA and contract rates ensuring the hotel is positioned correctly base on changing demand.
- Maintain spreadsheets and ERP applications to analyze and manage collections for manufacturers regarding all aspects of receivables.
- Evaluate group booking opportunities for pattern and placement and provide pricing recommendations to ensure maximum revenue potential is achieved.
- Manage accounts receivable accountants performing monthly accounting closes, reconciliations, and revenue and billing subsystem adjustments and maintenance.
- Serve as CPT expert resource for department managers and patient accounts staff.
- Issue federal summonses for financial data and testimonial evidence.
- Create departmental and interdepartmental policies and procedures ensuring compliance with Medicare and Medicaid regulators.
- Interpret policy and assist divisions in attaining consistency and compliance with Medicaid and Medicare reimbursement requirements.
- Decrease DNFB AR days from 16.75 to 2.76 days.
- Issue summons, levies and collect on delinquent accounts.
- Review SAAS base contracts for confirming revenue and defer are GAAP complaint.
- Coordinate consolidation of one of the health system's hospitals into the CBO.
- Identify areas of concern and implement care plans per MDS and CAA summary.
Revenue manager skills and personality traits
We calculated that 11% of Revenue Managers are proficient in Revenue Cycle, Reservations, and Customer Service. They’re also known for soft skills such as Creativity, Organizational skills, and Communication skills.
We break down the percentage of Revenue Managers that have these skills listed on their resume here:
- Revenue Cycle, 11%
Hired initially as a billing representative to relocate revenue cycle operations from Minnesota to corporate headquarters in Rhode Island.
- Reservations, 8%
Supervised reservation functions in order to maximize hotel/resort profitability and customer satisfaction through effective yield management and timely reservations processing.
- Customer Service, 7%
Promoted quality customer service through commitment to serving our Veterans by reconciling concerns and communicating resolution both written and verbally.
- Patients, 6%
Lead project to determine feasibility of accepting prepayments from Ambulatory Surgery Center patients and full payments for cosmetic ENT surgery patients.
- Cycle Management, 6%
Implemented transition from traditional billing processes to Revenue Cycle Management and Metric Driven Protocols.
- Revenue Management, 5%
Developed relationships and strong communication between and within all levels of management to foster a competitive, performance-based revenue management/sales program.
"revenue cycle," "reservations," and "customer service" are among the most common skills that revenue managers use at work. You can find even more revenue manager responsibilities below, including:
Creativity. The most essential soft skill for a revenue manager to carry out their responsibilities is creativity. This skill is important for the role because "advertising, promotions, and marketing managers must be able to generate new and imaginative ideas." Additionally, a revenue manager resume shows how their duties depend on creativity: "allocate inventory and yield management according to proper airline fare and availability. "
Organizational skills. Another soft skill that's essential for fulfilling revenue manager duties is organizational skills. The role rewards competence in this skill because "advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members." According to a revenue manager resume, here's how revenue managers can utilize organizational skills in their job responsibilities: "provide expert financial analysis to contract owners and forecasts the financial impact of organizational and operational changes on contract revenue. "
Communication skills. Another skill that relates to the job responsibilities of revenue managers is communication skills. This skill is critical to many everyday revenue manager duties, as "managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process." This example from a resume shows how this skill is used: "managed the communications of the internal and external auditors. "
Analytical skills. For certain revenue manager responsibilities to be completed, the job requires competence in "analytical skills." The day-to-day duties of a revenue manager rely on this skill, as "advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization." For example, this snippet was taken directly from a resume about how this skill applies to what revenue managers do: "developed and administrated in-house data warehouse that contained key diagnostic information to generate financial reports. "
The three companies that hire the most revenue managers are:
- Change Healthcare121 revenue managers jobs
- Rocket Software51 revenue managers jobs
- Great Wolf Resorts40 revenue managers jobs
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Compare different revenue managers
Revenue manager vs. Manager, strategy
A strategy manager is an individual who reviews a company's objectives for growth and works with executives to formulate actionable plans to achieve these objectives. To make comprehensive recommendations, strategy managers must conduct data analysis of the organization as well as the overall industry. They must provide assessments of market trends and identify business threats and opportunities. Strategy managers should also work with department heads to develop individual team goals and break them down into actionable steps for the employees to complete.
There are some key differences in the responsibilities of each position. For example, revenue manager responsibilities require skills like "revenue cycle," "reservations," "patients," and "revenue management." Meanwhile a typical manager, strategy has skills in areas such as "project management," "portfolio," "client facing," and "business development." This difference in skills reveals the differences in what each career does.
Managers, strategy tend to make the most money working in the technology industry, where they earn an average salary of $116,769. In contrast, revenue managers make the biggest average salary, $99,553, in the technology industry.The education levels that managers, strategy earn slightly differ from revenue managers. In particular, managers, strategy are 15.6% more likely to graduate with a Master's Degree than a revenue manager. Additionally, they're 0.8% more likely to earn a Doctoral Degree.Revenue manager vs. Product marketing manager
A product marketing manager is responsible for managing the company's goods and services, promoting brand awareness, developing effective marketing campaigns to attract existing and potential clients, generating more revenues, and achieving its profitability goals. Product marketing managers must have excellent knowledge of the marketing industry, as well as broad ideas on the current industry trends to meet clients' demands and identify business opportunities. A product marketing manager should be highly communicative and display excellent leadership skills to work with other departments and respond to clients' inquiries and concerns timely and efficiently.
Each career also uses different skills, according to real revenue manager resumes. While revenue manager responsibilities can utilize skills like "revenue cycle," "reservations," "patients," and "revenue management," product marketing managers use skills like "digital marketing," "product management," "project management," and "marketing campaigns."
Product marketing managers may earn a higher salary than revenue managers, but product marketing managers earn the most pay in the technology industry with an average salary of $121,046. On the other hand, revenue managers receive higher pay in the technology industry, where they earn an average salary of $99,553.Average education levels between the two professions vary. Product marketing managers tend to reach similar levels of education than revenue managers. In fact, they're 3.9% more likely to graduate with a Master's Degree and 0.8% more likely to earn a Doctoral Degree.Revenue manager vs. Associate product manager
An associate product manager is someone who assists the product development teams in the development of new product features. The duties of an associate include formulation of product strategies, collection of quantitative product data, and interpretation of consumer feedback. The requirements to qualify for the position include a bachelor's degree in computer science, marketing, business management, or a related field, the ability to maintain strong customer relations, and excellent communication skills.
The required skills of the two careers differ considerably. For example, revenue managers are more likely to have skills like "revenue cycle," "reservations," "patients," and "revenue management." But a associate product manager is more likely to have skills like "product management," "project management," "user stories," and "market research."
Associate product managers earn the highest salary when working in the start-up industry, where they receive an average salary of $91,911. Comparatively, revenue managers have the highest earning potential in the technology industry, with an average salary of $99,553.When it comes to education, associate product managers tend to earn similar degree levels compared to revenue managers. In fact, they're 0.4% less likely to earn a Master's Degree, and 0.1% less likely to graduate with a Doctoral Degree.Revenue manager vs. Social media manager
Social media managers are responsible for representing the company's business through social media channels. They help the company grow by enhancing its presence via social networks. Primarily, they need to implement marketing plans and identify their target clients and create a content schedule. Their duties include implementing and strategizing digital marketing campaigns. They support the development of brand identity and promotional strategies. Candidates for the job must be excellent in communication skills, have in-depth knowledge of how social platforms work, and easily understand the target audience.
Types of revenue manager
Updated January 8, 2025
