There are many different career paths you can take in hospitality; you can start off as a dishwasher and work your way to a director of talent or start off as a server and become a food and beverage manager. Maybe sales and numbers are more your things, so you start in retail and become a revenue director.
Although there are almost endless possibilities for career paths, there are three main pillars that all of those positions fit into operations, sales and marketing, and revenue management.
Let’s take a look at the revenue management career path
If you decide to go into the revenue management side of hospitality, you will be analyzing data about the performance of the hotel property or restaurant to help more accurately predict demand and consumer behavior. These analytics help make decisions for pricing and distribution to maximize revenue and profit.
Below are positions you can have in the revenue management department ranging from entry, mid and senior levels.
Financial Analyst – Financial analysts are responsible for collecting and analyzing financial information to help provide financial advice for future decisions.
Senior Accountant – Senior accountants assist with the preparation of financial and departmental reports, budgets, and forecasts. This position typically supports the financial analyst positions and drives the implementation of reporting efficiencies.
Associate Director of Finance – Associate directors of finance work directly with the Directors of Finance in financial activities, like safeguarding all assets, preparing financial reports, monitor department expenditures, and schedule other financial department team members.
Director of Finance – Directors of Finance are responsible for providing leadership to the finance department. They are in charge of focusing on the profitability of the business, maintaining accurate and timely reporting, ensuring compliance with all federal, state, and local financial regulations.