Lowe
Vice President, Hospitality Asset Management
Lowe, Los Angeles, California, United States, 90079
Overview
Vice President of Hospitality Asset Management will oversee a portfolio of Lowe-owned hotels to create asset value through the execution of an investment strategy on a short, intermediate, and long-term basis. The Vice President will report to the Vice President overseeing Lowe’s hospitality asset management and will interact directly with the co-CEOs and other senior team members in the management of each investment. Responsibilities
Work in partnership with Lowe’s executive leadership and investment team to develop strategic plans for each hotel. Act as an owner on a daily basis to achieve the goals of each investment. Develop strong working relationships with executive leadership at each property and work closely with them to: Identify and execute value enhancement opportunities Develop sales and revenue management strategies Realize operating efficiencies and assist with hiring/staffing decisions Identify potential risks and lead efforts to mitigate such risks Regularly review, analyze, and benchmark each hotel’s KPIs, financials, and market data to assess performance and adjust short- and long-term strategies Research and analyze industry trends, market dynamics, demographics, and supply/demand drivers to assess their impact on the portfolio Analyze hold vs. sell scenarios and present well-supported recommendations to guide investment decisions Review and manage monthly, quarterly, and annual operating budgets, capital budgets and marketing plans Proactively manage and strengthen relationships across JV partners, operators, brands, and other deal constituents Develop and oversee capital improvement projects to ensure on-time, within-budget completion with minimal operational disruption and attractive ROI Complete regular property visits to proactively manage and facilitate strategy execution Review, understand and ensure compliance of management and franchise agreements and loan documents Work closely with the capital markets team to originate and refinance property financing Assist executive leadership and the investment team with developing and implementing overall hospitality investment strategy, including efforts to close acquisitions and transition assets Qualifications
10+ years of hotel asset management experience; experience working for the asset owner is a plus Comprehensive knowledge of hotel operations and P&Ls/financial statements Strong analytical and financial analysis skills; proficiency in MS Office with advanced Excel Strong organizational, problem-solving, and written/oral communication skills with attention to detail Strong presentation skills with the ability to communicate with ownership groups Team player who is self-motivated, ambitious, and able to multi-task and meet deadlines Experience with major brands such as Marriott, Hilton, Starwood and Hyatt Compensation
Compensation: $210,000 - $230,000 annually, plus eligibility for annual bonus. We offer a competitive benefits package for full-time, regular team members, including group medical, dental, vision, life, and disability benefits, as well as critical illness and accident insurance. We also offer participation in pre-tax flexible benefits plans that include healthcare and dependent care reimbursement, as well as an employee assistance program. We provide paid vacation, paid sick time, paid holidays, and a 401(k) plan with company match. Seniority level
Executive Employment type
Full-time Job function
Finance and Sales
#J-18808-Ljbffr
Vice President of Hospitality Asset Management will oversee a portfolio of Lowe-owned hotels to create asset value through the execution of an investment strategy on a short, intermediate, and long-term basis. The Vice President will report to the Vice President overseeing Lowe’s hospitality asset management and will interact directly with the co-CEOs and other senior team members in the management of each investment. Responsibilities
Work in partnership with Lowe’s executive leadership and investment team to develop strategic plans for each hotel. Act as an owner on a daily basis to achieve the goals of each investment. Develop strong working relationships with executive leadership at each property and work closely with them to: Identify and execute value enhancement opportunities Develop sales and revenue management strategies Realize operating efficiencies and assist with hiring/staffing decisions Identify potential risks and lead efforts to mitigate such risks Regularly review, analyze, and benchmark each hotel’s KPIs, financials, and market data to assess performance and adjust short- and long-term strategies Research and analyze industry trends, market dynamics, demographics, and supply/demand drivers to assess their impact on the portfolio Analyze hold vs. sell scenarios and present well-supported recommendations to guide investment decisions Review and manage monthly, quarterly, and annual operating budgets, capital budgets and marketing plans Proactively manage and strengthen relationships across JV partners, operators, brands, and other deal constituents Develop and oversee capital improvement projects to ensure on-time, within-budget completion with minimal operational disruption and attractive ROI Complete regular property visits to proactively manage and facilitate strategy execution Review, understand and ensure compliance of management and franchise agreements and loan documents Work closely with the capital markets team to originate and refinance property financing Assist executive leadership and the investment team with developing and implementing overall hospitality investment strategy, including efforts to close acquisitions and transition assets Qualifications
10+ years of hotel asset management experience; experience working for the asset owner is a plus Comprehensive knowledge of hotel operations and P&Ls/financial statements Strong analytical and financial analysis skills; proficiency in MS Office with advanced Excel Strong organizational, problem-solving, and written/oral communication skills with attention to detail Strong presentation skills with the ability to communicate with ownership groups Team player who is self-motivated, ambitious, and able to multi-task and meet deadlines Experience with major brands such as Marriott, Hilton, Starwood and Hyatt Compensation
Compensation: $210,000 - $230,000 annually, plus eligibility for annual bonus. We offer a competitive benefits package for full-time, regular team members, including group medical, dental, vision, life, and disability benefits, as well as critical illness and accident insurance. We also offer participation in pre-tax flexible benefits plans that include healthcare and dependent care reimbursement, as well as an employee assistance program. We provide paid vacation, paid sick time, paid holidays, and a 401(k) plan with company match. Seniority level
Executive Employment type
Full-time Job function
Finance and Sales
#J-18808-Ljbffr