The Hotel Asset Manager provides an overview and detailed analysis of the company’s portfolio – they evaluate all the revenue generated by the different departments, outlets, and segments. They can then work on identifying ways to maximize revenue generated by the different services that the hotel offers while ensuring the profitability of the company. This person will provide a high level of accountability to the management and leadership of the company through budget review and commentary, ultimately ensuring balance and alignment between ownership and management.
POSITION REQUIREMENTS:
Minimum 5 years of hotel industry experience
Expertise in hotel revenue management, budgeting, financial analysis, and operations
A detailed understanding of hotel operations and the cause and effect relationships between operations, marketing, maintenance and CapEx.
Strong communication skills, both oral and written
Well-organized and assertive
Extremely proficient with appropriate technologies and financial applications and systems
Availability and dependability in meeting a heavy work load and some travel
SPECIFIC RESPONSIBILITIES:
Monitor the financial performance of each property at a granular, line item level using performance metrics, benchmarking results against property/portfolio trends as well as brand/industry norms.
Analyze and react to weekly and monthly Smith Travel Research reports.
Devise and implement regular data analysis and other reports for CEO.
Review and analyze hotel annual budgets and business plans and prepare recommendations for CEO.
Participate in asset business plans and update as required by CEO or market circumstances including recommendations for financial planning, CapEx, rebranding, expansion, operations and disposition strategies.
Assume a leadership role in developing short and long-term asset-level capital deployment strategies, and identify value enhancement opportunities.
Participate in the annual and long-term CapEx budgeting process with respect to reserve funding forecasting and adequacy.
Review asset positioning and make comparisons to market competitors.
Be intimately familiar with all franchise and management agreements.
Establish and maintain effective working relationships with Operations Staff.
Maintain a thorough understanding of all factors affecting markets and submarkets associated with assigned hotels.
Participate in CEO initiatives and assignments, as well as company and division-wide initiatives.
Other appropriate projects and tasks which may be assigned from time to time.
Monthly reviews with each property to discuss performance and strategies for improvement.
Review, evaluate and approve annually prepared business plans/budgets, including capital budgets, for each property. Provide any cost reduction and revenue enhancement guidance.
Ensure that all capital projects are completed on time and within budget and evaluate all ROI projects.
Provide internal reporting for use by senior management and for regulatory reporting.
Assist in acquisitions and/or dispositions of company assets and with special projects such as refinancings, brand and management changes, and hotel license renewals.
Provide support in underwriting and due diligence of new acquisition opportunities.
ESSENTIAL TRAITS:
Strong mathematical and data analysis skills
Sincere delight in using data analysis
Sincere desire to provide exceptional client services
High ethical standards
Ability to handle multiple tasks and demands simultaneously and professionally
Ability to respond to feedback and suggestions positively and without defensiveness
KEY RESULT INDICATORS:
Timely and accurate execution of tasks
Confidence of co-workers and clients
Supporting the achievement of the goals for each hotel.
Supporting individual business development goals while working in a team environment.
Timely, successful, and efficient project completion and other assignments.