Area Director of Finance

Description

Vinayaka Hospitality is seeking an experienced and strategic Area Director of Finance to oversee the financial operations of three premier downtown Chicago hotels:
The Blackstone Hotel (Marriott), Hampton Inn/Homewood Suites (Hilton), and The Westin Michigan Avenue (Marriott).

The Area Director of Finance will provide financial leadership, operational support, and strategic guidance across the portfolio while ensuring compliance with Marriott and Hilton brand standards, ownership objectives, accounting principles, and internal control requirements. This position serves as a key business partner to General Managers, corporate leadership, and ownership, driving financial performance, maximizing profitability, and developing high-performing finance teams.

The ideal candidate will possess significant hotel finance leadership experience, including multi-property oversight within Marriott and Hilton branded hotels
, strong analytical capabilities, and a proven track record of driving operational and financial excellence.

• Provide strategic financial leadership and oversight for all accounting and finance functions across the three-hotel portfolio.
• Partner with General Managers and executive leadership to develop strategies that improve revenue, profitability, cash flow, and asset value.
• Lead the annual budgeting process, long-range business plans, and monthly forecasting for each property.
• Prepare and present monthly, quarterly, and annual financial reviews to ownership and executive leadership.
• Analyze financial performance, market trends, labor costs, operating expenses, and profitability metrics to identify opportunities for improvement.
• Participate in owner meetings and provide actionable recommendations to achieve financial goals.

• Ensure the timely and accurate preparation of monthly financial statements and management reports.
• Oversee all month-end and year-end closing activities across the portfolio.
• Review general ledger activity, account reconciliations, journal entries, and financial analyses for accuracy and completeness.
• Maintain compliance with US GAAP, company accounting policies, and brand reporting requirements.
• Produce variance analyses comparing actual performance to budget, forecast, and prior-year results.
• Prepare quarterly owner reporting packages and cash flow projections.

• Establish, monitor, and maintain effective internal controls across all hotel operations.
• Ensure compliance with Marriott and Hilton financial standards, policies, and reporting requirements.
• Lead internal and external audits and coordinate implementation of audit recommendations.
• Monitor adherence to corporate policies, safeguarding company assets and minimizing risk exposure.
• Ensure compliance with all federal, state, and local tax reporting requirements.

• Oversee cash management, banking relationships, and treasury operations for the portfolio.
• Monitor daily cash positions and forecast cash flow requirements.
• Ensure timely completion of bank reconciliations and balance sheet reconciliations.
• Oversee cash handling procedures, credit card reconciliations, merchant processing, and fraud prevention controls.
• Manage debt service requirements, capital expenditures, and owner distributions as applicable.

• Partner with hotel operations leaders to manage labor productivity, departmental expenses, and profitability.
• Review and approve major contracts, capital expenditures, and purchasing initiatives.
• Oversee inventory controls and ensure accuracy of physical inventory counts.
• Evaluate financial impact of operational initiatives and provide recommendations to improve performance.
• Support revenue management efforts through analysis of occupancy, ADR, RevPAR, and market trends.

• Oversee Accounts Payable, Accounts Receivable, Income Audit, Payroll, General Ledger, and Cash Management functions across all properties.
• Ensure timely and accurate billing, collections, aging review, and cash application processes.
• Review significant AP invoices, capital…