Manager, Asset Management

The Manager, Asset Management will oversee financial reporting, initiate and execute complex and unique portfolio projects and support all major processes in the Asset Management department and will be part of a larger asset management team that is responsible for creating stockholder value for the entire Host Hotels portfolio through aggressive asset management. Additionally, this individual will asset manage 2 to 4 properties that total from 500 to 2,000 guest rooms and approximately $100 to $300 million in total asset value. The individual is responsible for real estate value maximization through optimized operations, thoughtful and effective capital planning and ensuring value enhancement initiatives are executed and expected results are achieved. KEY RESPONSIBILITIES Asset Management Develop and implement short and long-term strategies, designed to sustain or improve the value of the portfolio through cash flow and long-term asset value enhancement initiatives. Explore and underwrite property level ROI opportunities in conjunction with strategy. Develop and maintain plans for improvement for each property within the assigned portfolio. Understand key contract terms to realize investment and capital planning opportunities; partner with various teams in Host to optimize contract renegotiation opportunities both at the property and third-party partner level. Maintain a thorough understanding of all factors affecting markets and submarkets associated with each property’s positioning including but not limited to supply and demand factors, industry and local market influencing organizations and competitive properties. Partner with management companies’ regional leadership and property leadership teams to realize operating goals and maximize Host’s return. Continuously build relationships at the property and market level by traveling to the property and spending time in market. Develop and maintain an investment plan for each property within the assigned portfolio. Understand key contract terms to realize investment and capital planning opportunities; partner with various teams in Host to optimize contract renegotiation opportunities both at the property and third-party partner level. Maintain a thorough understanding of the key factors affecting markets and submarkets associated with each property’s positioning including but not limited to supply and demand factors, industry and local market influencing organizations and competitive properties. Responsible for supporting both internal and external counsel, accountants, appraisers and other consultants in property specific issues that regularly occur. Ensure that property specific compliance requirements are completed including accounting and quarterly reporting of financial statements, requirements of ground lessors, third-party lender requirements, settlement agreements, local taxing and zoning authorities, Partner with Host’s internal design and construction team, third party contractors and property teams to ensure capital projects are properly scoped, approved, completed on time and within budget. Financial Reporting and Analysis Perform reviews on targeted assets. This may include an evaluation/benchmarking of an operating department, supply and demand analysis, repositioning strategies, marketing deployment or other special projects for the Host Hotels portfolio. Initiate and supervise execution of financial models that will help the asset management team to identify and track property and portfolio goals. Manage financial reporting, asset value enhancement projects, market area research, budgeting and forecasting processes, hotel operations analysis and other major projects across the Host Hotels portfolio. Develop and implement short and long-term strategies, designed to sustain or improve the value of the portfolio through cash flow and long-term asset value enhancement initiatives. Explore and underwrite property level ROI opportunities in conjunction with strategy. Audit existing and create new (if needed) portfolio reporting and financial analysis tools, such as FRS reports, Investment Plans, Budgets and ROI models among others. Provide full financial reporting training and onboarding assistance to new hotel management teams. Continuously work on improving reporting mechanisms to the senior management and increasing workflow efficiencies. Collaborate with colleagues on measurement and tracking of initiatives and reporting requirements that are needed monthly, quarterly and on an annual basis. Participate in special projects, as well as company and department-wide initiatives that may include evaluation (due diligence) of properties for acquisition or disposition among other recurring and non-recurring events. EDUCATION/EXPERIENCE Four-year degree is a requirement with degree preference in Real Estate and/or Hospitality Management. MBA or Master’s Degree is a plus. Emphasis placed on the strong financial background, advanced leadership and problem-solving skills. Position requires thorough knowledge of the lodging industry and markets, hospitality operations and accounting and real estate finance. No less than five years of relevant experience in the hotel finance and/or commercial/hotel real estate industries. Experience in a regional position overseeing a multi-unit operation is a plus. Asset management experience is a plus but not required. Real estate or financial industry designation (i.e. CPA, MAI, CHA, RPA, CCIM, RICS or CPM) is a plus. REQUIRED SKILLS Ability to initiate and execute complex and unique portfolio projects Advanced leadership and problem-solving skills Experience in self-directed management of projects and/or processes Advanced Excel modeling and IBM Cognos analysis skills Demonstrated evidence of strong financial and analytical acumen Excellent interpersonal skills and a professional manner Team player attitude and ability to manage and train others Excellent communication skills, both verbal and written Sensitivity to and respect for the confidential nature of the subject matter of the job and the department High energy, charisma, integrity and strong work ethic Demonstrated confidence, enthusiasm and energy Capacity to travel on an as-needed basis up to 50% It is the policy of Host Hotels & Resorts to provide equal employment opportunity (EEO) to all persons regardless of race, color, religion, national origin, gender, age, sexual orientation, gender identity, gender expression, ancestry, genetic information, disability, marital status, or veteran status, or any other characteristic protected by federal, state or local law. In addition, Host will provide reasonable accommodations for qualified individuals with disabilities. #J-18808-Ljbffr