Associate, Asset Management, Hospitality – New York, NY (onsite)
Vertically-integrated commercial real estate group is seeking an Associate, Asset Management. The Associate reports into the Vice President, Hospitality F&B, Asset Management and assists in all aspects of hotel F&B operating activities and strategies for the company’s lifestyle portfolio, which includes eight hotel properties in New York City, Miami and Los Angeles.
The ideal candidate has experience in F&B operations and hotel asset management, strong analytical skills, ability to decipher financial data to effectively review and evaluate operational and investment opportunities. Required to have the ability to assess and help drive the performance of hotels in the portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Some travel is required.
Essential Functions
- Review and analyze monthly financial and income statements, prepare benchmarking and/or other analyses related to maximizing revenues and minimizing expenses that lead to strategies to improve asset performance and value.
- Review and work with hotel operator revenue managers to ensure the portfolio hotels’ yield efforts are maximized, including but not limited to:
- Reviewing revenue potential
- Ensuring proactive and accurate management of all revenue management systems
- Confirming all segments and distribution channels are mined for revenue opportunities
- Validating all data required for effective revenue management
- Analyze and monitor the financial performance of properties, which entails:
- Maintaining financial models
- Analyzing for all potential cost savings; tracking implementation of initiatives
- Produce ad-hoc analyses to evaluate the performance of assets and drive decision-making
- Collect market data and conduct benchmarking analysis
- Regularly track and analyze factors affecting markets and submarkets associated with the portfolio, including demographics and changes in supply and demand.
- Coordinate and support in annual budget and underwriting process
- Prepare regular presentations for Executive Team and outside counterparties
- Collect market data and develop tools to assist in the determination of threats and opportunities facing the portfolio
- Analyze financial models to evaluate investment returns on proposed capital projects and acquisitions.
- Assist with asset management of portfolio, including periodic property visits and interfacing with third-party management companies, project managers, brand representatives, and other third-party vendors/resources.
Qualifications
- Minimum 3 years of asset management experience within hospitality
- BA or BS degree
- Familiarization of hotel operations, sales, and revenue management concepts and tools preferred
- Demonstrated aptitude for problem solving and problem identification
- Ability to collect, analyze and interpret operations and revenue performance data
- Must effectively manage and adhere to deadlines
- Extensive proficiency in Excel, Word, and PowerPoint required and ability to manipulate data essential
- Attention to detail required
- Ability to operate in a team environment
- Excellent written and verbal communication skills
- Excellent interpersonal skills and demonstrated professionalism
- Ability to manage multiple tasks
Compensation: $125-160K base salary commensurate with experience plus discretionary bonus.
