Task Force Director of Finance

Compensation Type

Yearly

Highgate is a premier real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco and Honolulu, with a rapidly expanding presence in Europe, Latin America, and the Caribbean. Highgate’s portfolio of global properties represents an aggregate asset value exceeding $20B and generates over $5B in cumulative revenues.

The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Highgate also has the creativity and bandwidth to develop bespoke hotel brands and utilizes industry-leading proprietary revenue management tools that identify and predict evolving market dynamics to drive out performance and maximize asset value. With an executive team consisting of some of the industry’s most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands.

Highgate maintains corporate offices in London, New York, Dallas, and Seattle.

The Director of Finance – Task Force is responsible for providing consistent leadership in the financial area of the hotel by supplying the accounting staff with guidance, leadership and training until a permanent Director of Finance is hired and trained.

This position is remote and requires significant travel across Highgate’s footprint. The Director of Finance - Task Force acts as a Hotel’s Director of Finance and is the senior Accounting/Finance person for hotels which are experiencing a vacancy in the Director of Finance’s position. The position is responsible for all aspects of fiscal management, financial controls, accounting, and financial reporting for the assigned property.

The position is also responsible for training the new Directors of Finance.

• Approach all encounters with guest and teammates in an attentive, friendly, courteous, and service-oriented manner.
• Always comply with Highgate Hotels’ standards and regulations to encourage safe and efficient hotel operations.
• Maximize efforts towards productivity, identify problem areas and assist in finding and implementing their solutions.
• Direct or prepare all financial reports in accordance with Highgate Hotels’ requirements, meeting various due dates and deadlines, i.e.:
  • Daily:
    Income Journal and daily routing packs
  • Weekly: A/R & A/P Aging, Revenue/Flash Reports, Payroll Reports, Revenue Updates
  • Monthly:
    Financial Statements, Forecasts, Cash Flow, Variance Analysis
• Annual:
  Budgets, 5-Year Plans, 5-Year Capital Plans
• Effectively manages and communicates cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds.
• Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines.
• Prepare and present Proration Schedules during a hotel transition (if required).
• Communicate with owners, asset managers, lenders, investors, and other stakeholders as well as the Highgate Operations team regarding financial performance of their assets and performance of hotel finance staff. Actively address their concerns and build a long-term relationship of trust.
• Ensure hotels’ compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Assist management in enforcing compliance on all these items.
• Understand and maintain all capital expenses at the assigned hotel.
• Analyzes financial data and operations to assist and advises management in maintaining the hotels’ financial objectives.
• Prepares financial analysis as requested. This may include minor “Returns on Investment” and labor strategies.
• Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations.
• Timely reviews and approval of all balance sheet…