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This role will play a crucial role in developing and implementing pricing strategies, revenue optimization initiatives, data-driven decision-making processes, and data visualization capabilities to drive revenue growth, improve market share, and enhance profitability of the Company.
Key Responsibilities:
- Revenue Strategy Development: Develop and implement comprehensive revenue management strategies that maximize income from our real estate assets while ensuring competitive market positioning.
- Data Analysis and Pricing Optimization: Manage pricing strategies across various asset types and locations. Conduct ongoing analysis of demand patterns, market trends, and competitive pricing to inform pricing decisions to maximize revenue opportunities.
- Performance Analysis: Monitor key performance indicators (KPIs) related to revenue and occupancy. Identify areas for improvement and implement corrective actions as necessary
- Budget Management: Collaborate with finance teams to set and manage revenue budgets and financial goals.
- Forecasting: Develop accurate revenue forecasts based on market dynamics and property performance.
- Data Visualization: Create compelling data visualizations and dashboards to effectively communicate revenue performance, market trends, and other key insights to stakeholders.
- Technology Integration: Oversee revenue management systems and technology solutions to enhance pricing and revenue optimization capabilities.
- Communication: Communicate revenue management strategies and results to senior leadership and other relevant stakeholders. Provide regular updates on market conditions and revenue performance.
- ·Team Leadership: Lead and mentor a team of revenue management professionals. Foster a collaborative and high-performance culture within the department.
- Inter-Department Collaboration: Collaborate with other departments, such as Marketing, Sales, and Operations, to ensure revenue management efforts are integrated across the organization.
Required Skills & Experience:
- Bachelor’s degree in Business, Finance, Real Estate, or a related field. MBA or relevant advanced degree preferred.
- Minimum of 5 years of progressive experience in revenue management, pricing strategy, or real estate finance, with at least 3 years in a leadership role.
- Strong understanding of real estate markets, property management, and leasing dynamics.
- Proficiency in data analysis and the use of revenue management software, data visualization tools, and technologies.
- Excellent leadership, communication, and interpersonal skills.
- Ability to make data-driven decisions and solve complex problems.
- Results-oriented mindset with a focus on revenue growth and profitability.
Working Conditions:
- Work is primarily conducted in an office setting. Requires sitting at a desk or workstation for extended periods. Involves the use of standard office equipment such as computers, phones, and printers.
- Requires the ability to work Monday through Friday. Entails in-person office requirements for a minimum of 3 days per the Company’s hybrid policy, located at Essex’s corporate office in Irvine or San Mateo.
- Requires the ability to sit or stand for extended periods. Minimal physical effort in the day-to-day tasks.
- Minimal travel may be required for occasional meetings, training, or conferences.
What You Will Bring To The Table:
- May be responsible for a mix of direct and matrix reports. Approves subordinate’s recommendations for staff recruitment, selection, promotion, advancement, corrective action and termination. Effectively recommends same for direct reports to next level management for review and approval.
- Monitors appropriate staffing levels and reports on utilization and deployment of human resources. Leads and supports staff in areas of staffing, selection, training, development, coaching, mentoring, measuring, appraising and rewarding performance and retention.
- Leads by example and models behaviors that are consistent with the company’s values.
Leads with a substantial impact on other departments. Effectively communicates and collaborates at a strategic level, contributing to organizational success. Skillful in managing by influence in complex organizational settings. - Ability to comprehend, analyze, and interpret complex documents. Ability to solve problems involving several options in situations. Requires advanced analytical and quantitative skills.
- Decisions made with in-depth understanding and interpretation of procedures, company policies and business practices to achieve general results. Responsible for setting department deadlines. Errors in judgment may cause long-term impact to co-workers, supervisor, department and/or line of business.
