Vice President of Asset Management
The Vice President, Asset Management plays a key role in supporting the management and optimization of hospitality-related investments within the equity portfolio. This position is responsible for overseeing a geographically diverse portfolio of hotel assets within the company's holdings. The primary objective is to enhance the value of the company's lodging real estate by (i) providing strategic oversight of operations management to maximize net operating income and (ii) collaborating with operations teams to implement a cost-effective and efficient capital investment strategy.
Role and Responsibilities:
- Portfolio Analysis: Assist in evaluating the performance of hospitality assets within the portfolio, including hotels, any equity investment, and other related properties.
- Asset Management: Support in monitoring and managing the performance of hospitality assets, identifying areas for improvement, and implementing strategies to enhance value.
- Financial Modeling: Assist in developing financial models to assess investment opportunities, including revenue projections, expense forecasts, and investment returns.
- Reporting: Prepare reports and presentations for senior management and stakeholders on portfolio performance, investment recommendations, and market insights.
- Market Research: Conduct research on industry trends, market dynamics, and competitor analysis to inform investment decisions and asset strategies.
- Due Diligence: Participate in due diligence processes for potential investments, including property inspections, financial analysis, and risk assessments.
- Relationship Management: Collaborate with internal stakeholders, external stakeholders, and property operators to execute asset management strategies effectively to improve upon the investment business plan.
Qualifications and Education Requirements:
- Education: Bachelor's degree in finance, real estate, hospitality management, or a related field. A master's degree or CFA designation may be beneficial but not always required.
- Experience: 5+ years of experience required; 7+ years preferred
- Analytical Skills: Strong quantitative and analytical skills, including proficiency in financial modeling, Excel, and data analysis tools.
- Attention to Detail: Meticulous attention to detail and accuracy in financial analysis, reporting, and documentation.
- Communication: Excellent written and verbal communication skills, with the ability to present complex information clearly and effectively.
- Adaptability: Ability to thrive in a fast-paced, dynamic environment and adapt to changing priorities and deadlines.
- Summary of Skills: Business management, patience, ability to receive feedback, knowledge of real estate capital stack structures, joint ventures, preferred equity return modeling, understanding of major commercial real estate transaction documents (franchise agreement, management agreement, operating agreement, etc.), ability to use initiative, and be flexible and open to change.
- Team Player: Collaborative mindset with the ability to work effectively within a team environment and across different functional areas.
- Industry Knowledge: Understanding of the hospitality and/or lodging sector, including hotel operations, real estate, finance, capital market dynamics, and investment trends. Candidates should have a solid understanding of major hotel brands.
