Our company is in search of a highly motivated, creative and proactive professional to join our firm as an Associate Asset Manager. This individual will report to the Vice President of Asset Management & Principals of the company. The ideal candidate should be an accomplished detail-oriented professional with a proven track record, demonstrated leadership and ability to balance urgent demands while tackling numerous projects. Please note: experience in hospitality and/or real estate is a requirement.
Performance monitoring and optimization:
- Maximize revenue opportunities through close monitoring of Revenue Management and Sales & Marketing plans
- Identify, recommend and monitor cost containment opportunities
- Conduct analyses to identify value enhancement opportunities
- Identify and oversee creative approaches to maximize value and investment return of each hotel
- Utilize results of market and Company's benchmarking systems to drive best practices and operating results
- Monitor financial performance and forecasts
- Monitor compliance of leases, management agreements, franchise agreements, etc. to protect ownership rights
- Develop strategic plans highlighting value creation opportunities to be achieved through operational improvements and capital expenditures. Identify the proper hold vs. sell recommendation based on market fundamentals and future operating and capital considerations.
- Monitor and provide recommendations on capital plans and FF&E expenditures
- Provide support for special projects such as ROI analysis, acquisitions, dispositions, refinancing / recapitalizations and expansions.
Financial Planning & Reporting:
- Review, analyze and approve annual budgets and make recommendations on monthly financial statements
- Ensure accurate and timely preparation and delivery of ad-hoc and standard weekly, monthly, and quarterly market, financial, operational, and capital expenditure reporting
- Oversee real estate tax expense and engage third party tax consultants where appropriate.
Education & Professional Designations / Memberships
- Minimum of Bachelor's Degree or equivalent. Preferably major in Hospitality and/or Real-Estate Finance
- Graduate degree a plus but not required
- Strong financial acumen with solid understanding of hospitality finance & accounting
- Professional real-estate / hospitality / finance designations and memberships a plus
Experience and Professional / Industry Knowledge & Interest:
- Minimum of 2 years of relevant experience in hotel asset management or a minimum of 3 years of hotel operations or hotel real estate and finance experience.
- Prior management/franchise contract negotiations and/or investment/capital markets/financing experience a plus
- Thorough knowledge of and interest in the lodging and hospitality industry / trends as a whole and the US hospitality market and multiple sub-markets in particular. International experience a plus
- Industry relationships and a keen understanding of multiple management and franchise organizations a plus
- Ability to interface with legal, finance/accounting, construction and development professionals at all levels
- Understanding and application of real estate concepts such as: IRR, XIRR, Cash on Cash, Capital Stacks, etc.
Interpersonal skills & Communication:
- Team player with strong leadership and team spirit and positive attitude in dealing effectively with co-workers
- Strong interpersonal skills with ability to interact professionally with and create confidence amongst existing and prospective clients, and associates
- Strong ability to communicate clearly and concisely verbally with excellent writing skills
- Ability to maintain absolute confidentiality and discretion in dealing with confidential and sensitive matters
- Ability to travel frequently, and on short notice
- Strong personal and professional ethical standards
- Strong work ethics. Flexibility to work additional hours, including flexibility to work last minute over-time hours, if needed which is reciprocated with flexibility to manage personal life demands.
Information Systems Skills:
- Computer savvy with interest and ability to identify, learn and implement new technology tools
- Outstanding financial modeling skills and high degree of proficiency in Excel, PowerPoint, and Internet search engines
- High level of fluency in Outlook and Word