Associate Director - Asset Management

Role:

The role will be responsible for supporting the Asset Management department in negotiating the various agreements with ,but not limited to, operators of hotels, restaurants and recreational facilities. The successful individual will have relevant experience with a real estate development company, hotel consulting firm, or hotel operator.

The position will be responsible for a portfolio of hotel assets and may include non-hospitality real estate assets ranging from 12-15 properties.  Position will function as a “player-coach” and have direct responsibility for a small number of more complex assets.  Number of assets in the specific portfolio may vary based on complexity and quantity.  The individual will be part of the larger TRSDC Asset Management team responsible for creating value for the entire portfolio.

Responsibilities:

• Play a leadership role in the Asset Management department in HMA and various operator negotiations
• Maintain a tracking document of terms / progress on negotiated agreements for internal and external stakeholders
• Provide real time support and analysis during the negotiations with operators
• Identify and engage with operators for non-hotel assets
• Follow up and ensure current documentation between TRSDC, outside legal counsel, and operators
• Interrogate pre-opening budgets provided by the operators, and ensure they are in line with market, brand norms and Owner’s internal budgets
• Manage the disbursement of funds for technical services agreements and pre-opening budgets approved
• Monitor operator deliverables under the hotel management agreements and technical services agreements (in conjunction with internal Technical Services Team) to ensure obligations are being met
• Monitor the performance of and liaise between the hotel management teams and TRSDC as the hotels are operating.
• Value preservation and enhancement of assets to maximize the value of the entire portfolio.
• Maintain a thorough understanding of all factors affecting markets and submarkets associated with the portfolio.
• Develop and implement short, intermediate, and long-term strategies, designed to sustain or improve the value of the portfolio.
• Assess, develop, and implement value enhancement opportunities for the assigned portfolio.
• Model complex cash flows and partnership structures to report asset performance.
• Support both internal and outside counsel, accountants, appraisers, and other consultants in property specific issues that regularly occur.
• Position will be a senior leader in the company and as such will be expected to train and mentor other employees.
• Ensure timely, useful, and accurate reports consistent with senior management and external third-party requirements.
• Traveling, domestically and internationally to visit real estate assets, companies and investors as needed.  Travel requires no less than 40% but could result in 60% travel.
• Other duties as assigned.

Qualifications, Skills & Experience:

• Bachelors degree from an accredited university is a requirement with a degree in Hospitality Management, Finance, Real Estate, Accounting or relevant study; advanced degree (i.e. MBA) is a plus
• Position requires knowledge of the lodging and hospitality industry as well as return on investment principles
• Minimum 10 years of relevant experience with hotel operators and/or commercial real estate experience
• Experience in other aspects of the lodging, hospitality, revenue management and/or real estate finance is highly desirable although not a requirement
• Understanding of lodging industry metrics; familiarity with hotel operations and processes strong analytical skills
• Experience as a multi-unit regional position, General Manager, or Director of Finance a plus
• Proficient financial modeling skills including forecasting, capitalization tables, IRR/NPV analysis, and real estate equity waterfall distributions
• Prior exposure to full HMA negotiations from inception to hotel opening including managing hotel operator pre-opening budgets
• High level of self-motivation and resilience and the ability to meet demanding targets and deadlines in a fast-changing, international travel organization
• Requires a team player attitude and the flexibility to provide assistance where needed
• Robust and articulate communication skills, both verbal and written
• Sensitivity to and respect for the confidential nature of the subject matter of the job and the department 

• Uncompromising level of personal integrity
• High energy, charisma, team oriented and strong work ethic
• Strong sense of personal motivation, responsibility, problem-solving capabilities and follow through
• Passion for the business and demonstrates confidence, enthusiasm, and energy
• Requires excellent interpersonal skills and a professional demeanour displaying a high level of executive presence

Before you apply for this job, please ensure you meet the above criteria.