Asset Manager, Hotel Asset Management

Job ID
2020-1664
Job Locations
US-MA-Newton
Department
Asset Management

Overview

The Asset Manager supports SVC’s objectives of enhancing asset value through product positioning, increasing net operating income and maximizing revenue, cost effective operations, and guest service guidance. Emphasis is placed on interacting with SVC senior management and hotel operators for the purpose of protecting SVC’s investment in the assets. As an integral member of the Company, the candidate must interact in a thoughtful and collaborative manner with external partners, senior leadership and hotel management and exemplify the highest standards of honesty, respect, integrity, and discretion. Service Properties Trust (NASDAQ: SVC) is a real estate investment trust which owns 329 hotels located throughout the United States, Ontario, Canada and Puerto Rico. SVC’s hotels include Marriott, Intercontinental Hotels Group, Hyatt, Wyndham, Sonesta and Radisson Hotel Group full service, select service and extended stay brands.

Responsibilities

  • Perform regular analysis and interpretation of demand generators, revenue management data, and financial reporting to assess the performance of each location and develop short and long-term strategies to improve performance where needed.
  • Conduct on-site property inspections and identify deficiencies in property condition, cleanliness, and service levels.
  • Lead and document hotel/portfolio level performance review calls on a recurring basis.
  • Identify and enhance asset/portfolio performance through suggested revenue, expense or capital initiatives.
  • Ensure accurate and timely preparation and delivery of standard weekly, monthly, and quarterly market and operations reporting.
  • Utilize current and create new benchmarking systems to drive best practices and operating results.
  • Keep current on all markets that impact the positioning and performance of assigned hotels. Maintain up-to-date knowledge of all factors including market dynamics and changes in supply and demand.
  • Ensure compliance with management and other agreements.
  • Review and analyze annual operating budgets and quarterly reporting. Assist accounting and finance team with monthly, quarterly and annual reporting.
  • Assist internal stakeholders with data requests/inquiries and special projects.
  • Complete ongoing and detailed profit and loss statement reviews for assigned assets.
  • Work collaboratively with SVC’s executive leadership team with respect to ongoing communications and development of hotel strategic plans.
  • Document, trace and speak regularly to the performance of the assigned assets and/or portfolio performance.

Qualifications

  • Bachelor’s degree – Minimum 3.0 GPA required. Preferred course of study hospitality, finance, or business. MBA preferred, but not required.
  • Combined 10+ years of hotel operations and asset management experience including senior level hotel management positions.
  • Candidates may also have multi-unit experience, finance, sales and revenue management experience.
  • Knowledge of market, feasibility analysis, and financial structures. Familiarity and knowledge of legal documents including tenant lease, easements and eminent domain proceedings.
  • Strong working knowledge of property-level financial statements and the ability to understand complex pro forma models.
  • Familiarity with capital expenditures and improvements.
  • The ability to organize and effectively implement asset management procedures, as well as the ability to reconcile perspectives and priorities associated with hotel ownership, hotel operations, and brand position.
  • Excellent verbal and written communication skills.
  • Industry relationships and a keen understanding of multiple management operations.
  • Self-motivated, detail-oriented, well-organized, and results-driven professional.
  • Ability to excel in a fast-paced, team-centered and results-driven environment.
  • Positive, creative, innovative approach to problem solving and the ability to exercise judgment and discretion.
  • Strong Microsoft-based computer skills with Word, Excel, PowerPoint and Outlook.
  • The ability to meet the national travel requirement of approximately 30%.

 

Company Overview

The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of December 31, 2019, The RMR Group LLC had approximately $32.2 billion of total assets under management, including over 2,100 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts. To learn more about The RMR Group, please visit www.rmrgroup.com.

 

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, citizenship, disability or protected veteran status.

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