Colony NorthStar is seeking a Vice President – Hotel Asset Management for its Portfolio Management Group to assist in managing its portfolio of over 150 hotel properties. This position could be located in Los Angeles, New York, Dallas or Bethesda.
Actively asset-manage and be responsible for a portfolio of 50+ select-service and extended-stay hotels.
Conduct regularly scheduled calls with the hotel management teams to review operating performance.
Benchmark and analyze hotel- and portfolio-level financial data to identify areas of opportunity.
Provide oversight of renovation projects to ensure projects are completed on time, within budget, and with the least amount of revenue displacement.
Build relationships with the various hotel brands, management companies, and operating partners.
Review, understand and ensure compliance of various legal documents including management agreements, lease agreements, joint venture agreements, and loan documents.
Coordinate with lenders/servicers as needed to ensure loan compliance.
Review and manage operating budgets, capital budgets and marketing plans.
Travel to properties as needed to inspect the facilities, meet with management and tour the market areas and competitive set of hotels.
Prepare monthly, quarterly and year-end summary reports for senior management.
Drive improved operating performance to maximize asset values.
Identify, analyze, and recommend hold/sell, refinancing and restructuring strategies.
Keep informed of the supply and demand dynamics of each market area.
Maintain current knowledge of hotel industry trends and performance of comparable hotel companies.
Effectively interact with in-house departments including accounting, investments/acquisitions, capital markets, and legal to ensure a team oriented approach.
7-10 years of direct Hotel Asset Management experience
Strong analytical and financial analysis skills
Oversight of hotel renovations
Hotel real estate and valuation knowledge
Technical skills and experience in financial reporting
Comprehensive knowledge of hotel operations
Experience with financing and deal structuring
Strong relationships with Hotel brands such as Marriott, Hilton, Starwood and Hyatt
Ability to effectively interact with Senior Executives
Strong communication skills, well organized, self-started