Hospitality Associate

Business Title: Hospitality Associate
Business Vertical: Hospitality
Location: Work from Office: Downtown Atlanta, GA
Reports To: Manager, Hospitality
Category: Full-time
FLSA Status: Exempt

Founded by famed architect John Portman in the 1950s, Portman is a privately owned national real estate investment, development and management firm focused on delivering premier quality office, hospitality, residential, industrial, and mixed-use projects prioritizing occupant experience through first class execution. The diversified, full-service company has developed over 80 million square feet of landmark real estate assets and currently has over $3B in projects throughout eleven markets across the country employing an unequaled pedigree of experience, industry knowledge, and commitment to excellence. Portman has established a successful global network and has a proven track record with the world's top financial institutions. Teams in the company's national offices seamlessly connect to develop, finance, and manage a diverse portfolio in the key strategic and emerging markets throughout the country. Portman Holdings continues to achieve success through investor, partner and client relationships that deliver exceptional real estate assets and innovative, experiential places. For more information, visit:

SUMMARY:
The Hospitality Associate is a newly created role based in Atlanta, GA. Reporting to the Manager, Hospitality, the position is responsible for financial modeling and cash flow forecasts, financial and operating performance analysis, preparing owner/lender reports, and assisting with ad-hoc analysis related to operating hotels, as well as the hospitality platform's acquisition and development pipeline. Additional responsibilities include the collection and evaluation of monthly financials with variance analysis to budgets and underwriting. Portman's current hotel portfolio consists of eight hotels (4,152 rooms) in five North American markets: Hyatt Regency Salt Lake City; Westin Charlotte; Westin Cincinnati; InterContinental San Diego; SpringHill Suites / Residence Inn San Diego; Westin Peachtree Plaza Atlanta, Hotel Indigo Downtown Atlanta; Kimpton Sylvan Atlanta.

RESPONSIBILITIES:

• Support performance and value maximization of an operating portfolio of eight hospitality and mixed-use assets across the U.S.
• Support Asset Management through financial modeling of assigned assets, investment returns, asset budgets, and operating pro-formas.
• Develop dashboards for project performance and cross-project comparisons.

• Support performance and value maximization of the existing hospitality portfolio.

• Produce and maintain detailed forecasts of income and expenses.
• Manage the monthly and quarterly Lender and Investor reporting requirements.
• Track and monitor escrow reimbursement from lenders.
• Create and maintain investment models and cash flow forecasts including debt-service coverage ratio and other loan covenants.
• Attend Owner meetings with Operators and Property Managers with the Asset Manager, documenting key action items and following-up on their resolution.
• Create document abstracts for key contracts, leases, operating agreements, loan documents, etc., and ensure compliance with key provisions and deliverables.
• Assist with managing the annual property budget process working with accounting to ensure that the budget and master file data are properly established in the system and that correct reports are generated and communicated.
• Maintain and continuously improve upon functionality of Portman's Investment and Asset Management Budget models.
• Follow and control expenditures, including capital project coordination, to ensure assets are performing within budget.
• Provide asset details and support in report creation and standardization, and responding to ad hoc reporting requests of Portman entities, investors, lenders and joint venture partners.
• Support due diligence efforts and assist in the closing of capital events including dispositions, refinances, and partner buyouts.
• Any additional tasks as required in support of the Asset Management and greater Portman team's goals to maximize the investment returns of the projects and new developments.

REQUIRED EDUCATION, KNOWLEDGE, SKILLS & ABILITIES:

• Degree in real estate, engineering, finance, hospitality, or similar fields, preferred
• 2+ years of experience in the asset management of institutional real estate, with hospitality, office, and/or multifamily exposure strongly preferred
• Working understanding of key real estate agreements including leases, purchase and sale agreements, management and leasing agreements, partnership agreements and loan agreements.
• Strong demonstrated knowledge of financial modeling and accounting concepts
• Solid understanding of real estate investment returns, waterfalls and loan mechanics.
• Exceptional analytical skills with careful attention to detail and accuracy.
• Proficiency in Microsoft Office, particularly Excel.
• Yardi experience a plus
• Excellent organizational skills with the ability to plan, prioritize, and manage multiple tasks
• Ability to work independently with minimal direction and oversight
• Travel required up to 25% with overnight stay

Portman is deeply committed to building a workplace and global community where inclusion is not only valued but prioritized. We're proud to be an equal opportunity employer, seeking to create a welcoming and diverse environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, family status, marital status, sexual orientation, national origin, genetics, neurodiversity, disability, age, or veteran status, or any other non-merit based or legally protected grounds. Portman is committed to providing reasonable accommodations to qualified individuals with disabilities in the employment application process.