AVP Asset Management
About Our Client
Our Client is a growing real estate private equity firm who own a large portfolio of hotel assets across the US. The firm is known for its entrepreneurial approach, leveraging extensive market knowledge to execute investments and developments across the US.
Job Description
Newly create Assistant Vice President of Asset Management will oversee the performance of a portfolio of hotel assets, ensuring operational efficiency and financial optimization.
Selected responsibilities:
- Participates and assists in formulating the annual business plan for the assigned assets
- Reviews, monitors, and reports on the portfolio's performance against budget and investment proforma by analyzing monthly operating and income statements, researching and taking appropriate actions to address variances, managing and monitoring cash flow, and preparing monthly and quarterly client portfolio/performance reports.
- Communicates with and closely interacts with the Principals of the firm and on-site team members to monitor the daily operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy, and revenue reports, addressing policies, procedures and compliance issues and developing strategies and programs that maximize the performance of the portfolio.
- Manages and oversees the portfolio's compliance with the established debt and equity providers, develops and provides reports to the investment principals and equity partners, monitors investment performance, returns and forecasts through financial modeling, and recommends ways for optimizing returns at the asset level.
- Works with the third party contractors to plan for rehab and other capital improvements, and reviews and monitors progress on existing project to ensure on-time and on-budget completion.
- Leads and executes the implementation of revenue-enhancing and expense containment programs and initiatives
MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.
The Successful Applicant- Bachelor's degree in Finance, Real Estate, Hospitality Management, or a related field (Master's degree or MBA preferred).
- 5-7 years of experience in asset management, real estate investment, or hospitality operations, with a focus on hotel assets.
- Analytical Skills: Strong financial modeling, valuation, and data analysis capabilities, with proficiency in tools like Excel, PowerPoint, and real estate-specific software (e.g., ARGUS).
- Industry Knowledge: In-depth understanding of hotel operations, brand standards, revenue management, and market dynamics.
- Interpersonal Skills: Excellent communication, negotiation, and relationship management abilities, with experience working with property managers, operators, and senior leadership.
Our client operate a flat organization structure and as such no job description is set in stone. They value individuals who have a "do what it takes" approach and are willing to contribute in multiple ways.
What's on Offer
Market driven base salary plus bonus potential along with benefits such as health insurance, etc. Targeting a base salary in the $150,000 to $200,000 range. This is a strategic position but while the portfolio grows the incumbent will need to be comfortable acting as a player-coach.