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As the Director Hotel Asset Management, you will join an experienced team of professionals focused solely on hotel investments located across the U.S. You will partner with the Head of Hotel Asset Management, Portfolio Managers, regional architects, and joint venture partners, and will be responsible for overseeing multiple hotel properties in the U.S. You will report to the Head of Hotel Asset Management, and travel to hotel assets across multiple regions. The successful candidate will be a proven team player with a high level of energy and motivation with a high priority on collaboration and teamwork.
How You’ll Help Us Build a Confident Future (Key Responsibilities):
Optimize asset performance inclusive of financial performance, market positioning, capital deployment and hold/sell execution for a portfolio of hotel assets.
- Financial Performance – Assist in preparing and reviewing annual operating budgets. Review monthly financial statements and make recommendations to hotel management teams concerning revenue strategies and cost control initiatives to ensure the achievement of budgeted results. Monitor monthly cash flow and partner distributions.
- Market Positioning – Monitor revenue strategies to achieve growth in RevPAR index, via participation with the management team. Review segmentation and brand contribution. Additionally, monitor the product and performance of the competitive set.
- Capital Deployment – Oversee the hotel’s annual capital plan and renovation programs. Identify and implement profit-improving/ROI projects.
- Maintain asset summaries, loan summaries, JV summaries, Management Agreement summaries, and investment models.
- Prepare monthly ownership reports and compile annual business plans and presentations.
- Develop a strong working relationship with the individual hotel management teams and corporate management teams in operations, accounting, sales, revenue management, and engineering to achieve results.
- Monitor guest satisfaction metrics, brand audits, and employee opinion surveys.
- Benchmark operating results.
- Manage acquisitions, dispositions, and refinancing transactions in tandem with regional offices and capital markets groups when appropriate.
- Manage fixed costs, including property tax appeals, and insurance renewals.
- Management of various leases at the properties.
- Participate in the planning and execution of the annual financial plan; update monthly projections to include MRI and EMS compliance and reporting.
- Prepare materials for and participate in meetings with senior company executives, hotel teams, and brand teams.
- Lead and or participate in legal-related issues including Hotel Management Agreements, Joint Venture agreements, Financing, Retail Leases, Parking Agreements, and Audio-Visual contracts.
- Understanding of hotel debt structuring and capital markets.
- Familiarity with debt fund operations/leverage facilities.
- Participate in the review of hotel lending opportunities.
- Support the MetLife Strategic Hotel Debt Fund as necessary.
What You Need to Succeed (Required Qualifications):
- Bachelor’s degree in hospitality management, real estate, finance, or a related field.
- A master’s degree in hospitality management, real estate, business management, or a related field is a plus.
- Seven to ten years of experience in the lodging industry, preferably in the areas of asset management, acquisitions, financial analysis, operations, or brokerage.
- A results-oriented professional with a track record of managing multiple projects and deadlines.
- Ability to work independently and as part of a team.
- A leader who enjoys building relationships and managing people and processes both within and outside an organization to move projects forward.
- Creative negotiator who focuses on finding solutions.
- Strong financial and analytical skills in the areas of investment analysis, real estate finance, and feasibility studies. Advanced knowledge of Excel.
- Excellent verbal and written communication skills
- Capacity to travel as needed to conduct hotel on-site reviews, attend meetings, and oversee projects and initiatives.
Source: MetLife Real Estate Career Page
