Economist, Hotels (Hybrid - Any U.S. City except in CO)

  • CBRE
  • Los Angeles (Downtown), California
  • Jun 22, 2022
Full time Other

Job Description



At Econometric Advisors (EA), we develop datasets, models, and software that provide historical perspectives and expert forward-looking outlooks on commercial real estate performance. Our subscription-based platform provides unmatched intelligence and differentiated access to market analytics that power the industry's forward-thinking ideas. EA's suite of interactive tools gives top investors and occupiers access to clearer insights on hotel performance to inform their biggest real estate investment decisions. This pursuit has been a priority at CBRE for many years and we could use your help in developing the next generation of datasets, models, and forecasts for the hotels industry.We are looking for a hotel economist to join a cross-functional team of experts. As a hotel economist, you will be required to use your skills in econometrics and applied economics to continuously improve EA hotels models designed to anticipate and illustrate the evolving and complex relationships between the economy and hotel supply, demand, revenues, profits, and cap rates. Your work will directly enhance EA's suite of tools leveraged by investors, owners, brands, managers, and CBRE transaction professionals as they make decisions or recommendations around managing real estate portfolios. You will be expected to demonstrate a working knowledge of economic principles and hotel dynamics including microeconomics, macroeconomics, consumer theory, market equilibrium, distortions of the market, market structure, externalities, fixed versus variable cost, flex/flow analyses, cap rate drivers and calculations, various hotel business models and key differences among asset types, price points, and locations. Successful candidates must be able to maintain quarterly forecasting workflows, apply regular tests to achieve continuous model improvement, analyze relevant data to make substantial contributions to EA's quarterly written hotels commentary, and be responsive to colleagues, clients, and other stakeholders about current and future hotel market dynamics. In this role, you will be expected to utilize your modelling, analytical, writing, and presentation skills. You will be called upon to participate in new data product development.

ESSENTIAL DUTIES AND RESPONSIBILITIES

•Monitor and interpret economic, demographic, and real estate indicators that inform CBRE's macroeconomic outlook scenarios used for hotel modeling/forecasting.•Work closely with the Hotels research team and act as a subject matter expert and present at client meetings, client events, and industry events. •Incorporate CBRE's macroeconomic scenarios and modeled supply as inputs into EA's proprietary real estate hotel models to produce preliminary forecasts in collaboration with data engineers.•Work closely with other economists, data scientists, and data engineers on research and development projects and continuous model improvement. •Incorporate sentiment gathered from key internal stakeholders. •Audit hotel forecasting outputs in collaboration with senior EA leadership and prepare them for publishing.•Author and co-author expert hotel commentary and insightful thought pieces that position CBRE as a leading voice in the industry guiding transformational outcome for investors and occupiers.•Keep current in the field of real estate economics and hotel market dynamics.•Maintain a backlog of research projects in collaboration with others. •Other duties may be assigned.

SUPERVISORY RESPONSIBILITIES

No formal supervisory responsibilities in this position. Provides informal assistance such as technical guidance, and/or training to co-workers. May lead project teams and/or plan, and supervise assignments of lower level employees.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and EXPERIENCE

•Bachelor's degree from a four-year university in Economics, plus a minimum of two years related experience or training.•Master's degree or PhD in economics is highly preferable.
CERTIFICATES and/or LICENSES

None.

COMMUNICATION SKILLS Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable, and courteous service to customers. Ability to effectively present information to both internal and external clients. FINANCIAL KNOWLEDGE Requires advanced to in-depth knowledge of financial terms and principles. Ability to calculate complex figures. Understanding of mathematical concepts and ability to apply them in the pursuit of practical situations. Ability to forecast and contribute to the preparation of budgets. Conducts financial/business analysis including the preparation of reports. Reasoning Ability Ability to solve advanced problems and deal with a variety of options in complex situations. Requires expert level analytical and quantitative skills with proven experience in developing strategic solutions for a growing matrix-based multi-industry sales environment. Draws upon the analysis of others and makes recommendations that have a direct impact on the company. Other Skills and Abilities Good knowledge of econometrics as evidenced by publications or projects. Good knowledge of computer software and hardware (i.e. Microsoft Office Suite Products) with proficient Excel skills. Ability to work well under pressure, with multiple/competing deadlines. Scope of Responsibility Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department. CBRE is an equal opportunity/affirmative action employer with a long-standing commitment to providing equal employment opportunity to all qualified applicants regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, pregnancy, age, citizenship, marital status, disability, veteran status, political belief, or any other basis protected by applicable law.

NOTE: An additional requirement for this role is the ability to comply with COVID-19 health and safety protocols, including COVID-19 vaccination proof and/or rigorous testing.