Location

Atlanta - 1180 Peachtree St. NE, Suite 1575

Job Description

Brookfield is seeking a senior real estate professional to take a leading role in the asset management of a hospitality portfolio and also support assets Brookfield is in the process of acquiring. The successful candidate will be a discerning real estate professional with strong drive and passion for hospitality real estate. The ideal candidate should have deep experience in institutional asset management, development/re- development, and strategic asset planning. The ideal candidate will work as a key member of the team to maximize property valuation, optimize asset performance, ensure organizational effectiveness, implement high operational standards, and maintain strong operator relations.

This position will remotely-based, ideally near a major international airport, and this person will report to the Senior Vice President responsible for portfolio management activities for hospitality properties in North America. The team has a Chicago- based analyst pool and dedicated  resources with strong technical backgrounds in specific disciplines within the hospitality industry.

Responsibilities

Asset Management

Perform asset management activities, including development of capex, branding,  operational, management and repositioning strategies and adherence to the detailed business planAct as the owner representative in interactions with hotel brand and management teams to ensure owner strategies are effectively implementedProactively engage with hotel teams to create and implement operating models that maximize revenue and profitabilityPrepare and present weekly, monthly, quarterly, and annual asset management and portfolio reports, cash flow forecasts, and distribution analysesRevise strategies and the accompanying business plan to address changes in market and/or property conditions as well as any amended investment strategiesPerform detailed review of weekly forecasts and pace reports, monthly financial statements, STR reports, brand audits, guest surveys and revenue management strategies to identify weaknesses and inefficiencies as well as revenue enhancement opportunities.Provide recommended solutions to any operational issues that could impact the financial performance of an assetLead weekly revenue calls with hotel teams and identify and implement actions to gain market shareConduct regular expense reviews to ensure that the assets are meeting or exceeding operating targets, margins and flex / flow metricsConduct Monthly Operating Reviews with hotel and regional operations teams to review all areas of the operation; ensure that the asset is on track to meet or exceed business planReview and analyze each asset’s annual business plan, sales and marketing plan, and annual budget; engage with hotel teams to discuss risks and opportunities related to the annual plan and budgetTrack market activity to remain current on trends and events affecting the hospitality industry, as well as local market dynamics including supply and demand changes and trendsNegotiate and ensure compliance with third-party leases, franchise agreements,  management contracts property improvement plans, and other vendor related documents that impact hotel operationsPrepare and update 5-year forecasts for each asset on a quarterly basis to drive the quarterly valuation processEnsure that the physical integrity of the assets is maintained at an institutional quality level, via robust engineering, and preventive maintenance programsAssist in the underwriting process for new acquisitions, assess market risk and opportunities, conduct benchmarking analyses, identify and incorporate asset-level value add opportunities into the pro forma underwritingAnalyze and report on asset level performance compared to industry benchmarks and company key performance indicators as determined through the underwriting and business plan.
 

Portfolio Management

Coordinate with treasury and accounting teams to assess weekly property cash flow needs, capital requirements, and property-level distributionsCoordinate with internal teams and lenders on reporting, loan agreement compliance, debt covenant tracking, draw requests and cash management requirements.
 

Capex Management

Work closely with the internal project management team and consultants to create capital budgets that help maximize revenue and profitability, and enhance the long-term value of the assetMonitor the management and implementation of capital renovation projects and operating activities, and work with project management to ensure that capital projects are completed within the approved budget and timeline
 

Qualifications

At least 10 years of experience managing hospitality assets, preferably in real estate private equity or real estate asset management.Deep experience in institutional asset management, and strategic asset planning with a drive for excellence and a passion for the hospitality sectorBroad geographic asset management and operational expertiseProven track record of being lead on portfolio managementFamiliar with acquisitions, the underwriting process, and onboarding assets pre and post-closingExperience managing teams  as  well  as  coordinating  with  other  departments  and  external stakeholdersExceptional analytical skills and operational acumen to oversee and refine asset-level analysesEffective presentation skills, including strength in verbal and written communicationsAn entrepreneurial spirit, with strong work ethic and high degree of self-motivationA proactive, forward-looking approach to hospitality asset managementAbility to adapt to shifting market dynamics and develop innovative solutionsA collaborative nature, with a willingness to build and sustain productive working relationships with colleagues across various teamsAbility to influence hotel brands and operators, and create change at the asset levelProficiency in applicable softwareWillingness to travel significantly to various assets nationallyHotel operations experience a plusUndergraduate degree; MBA or other related graduate degree a plus

 

We are proud to create a diverse environment and are proud to be an equal opportunity employer. We are grateful for your interest in this position, however, only candidates selected for pre-screening will be contacted.

#BPUS