In order to offer its members access to a wide variety of vacation destinations, Royal Holiday partners with more than 180 resorts in 52 countries around the world. The company’s portfolio management team takes on the responsibility of making sure that relationships with those resorts and other partners run smoothly. Day-to-day tasks in portfolio management at Royal Holiday include correctly applying frameworks for jobs ranging from billing and finance to sales and membership services.
Finance-related tasks in portfolio management at Royal Holiday often involve accounting principles. Beyond handling accounting of standard business items like accounts payable and receivable, Royal Holiday manages a separate system of points, which its members receive annually to book items like cruises and accommodations. In addition, members can purchase additional points, as well as roll points over from year to year. Given the complexity of the points system, some Royal Holiday employees spend a great deal of time handling points accounting. Employees involved in points accounting may be responsible for reconciling balance sheets and invoicing points. They may also run multiple reports every month and make suggestions for process improvements where they can.
At Royal Holiday’s resorts, other employees in portfolio management may be involved in cash accounting. Resort employees may have responsibility over daily audits of processes ranging from general cashiering and purchasing to handling of accounts receivable and accounts payable. They may be required to create reports in order to facilitate the overall monthly accounting of the company. They may take on collections and billing duties and handle deposits and sales tax filing. Some people with resort-level portfolio management jobs may also partner with members of the resort management team or the corporate accountant in order to prepare financial documents and ensure that the resort keeps in compliance with procedures for auditing and quality assurance. Individuals seeking resort-level accounting positions should possess some experience in the hospitality industry and a strict attention to both details and deadlines.
Other portfolio management employees at Royal Holiday may take on collections as a more regular part of their job. Collections tasks at Royal Holiday can involve using the phone to make contact with partners whose accounts are out of order. When necessary, collections personnel may negotiate on payment schedules and fees. As a result, they must be able to follow established practices and policies while making choices independently in order to satisfy the needs of partners and the company. Once they create a plan, people with jobs in collections will also be responsible for following up to make sure that the plan is followed. Collections work can be difficult, and potential employees searching for a collections-related position should possess the ability to work independently and to quickly build rapport over the phone. Their phone manners and communications skills should be excellent, and they should be able to multitask and use computer applications effectively.