Summer Intern, Asset Management - Moxy

Company

Description:

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 240 existing properties, Lightstone's over $12 billion portfolio currently includes over 16 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys.

Lightstone's development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

POSITION OVERVIEW:

Lightstone is seeking to hire one summer intern within the Asset Management - Moxy hotels department to help support the team further assists in all aspects of property-level operating activities and strategies for the Company's Moxy/AC Portfolio, which include 2,700 hotel room keys and 38 food & beverage venues across 8 properties in New York City, Miami and Los Angeles. Moxy operates in partnership with leading hospitality operators including, TAO Group and Houston Hospitality.

The ideal candidate will be highly motivated with strong analytical skills and a passion for real estate investments.

This is a full-time, non-exempt role running from approximately June 15th to August 14th.

If you thrive in an environment that is highly entrepreneurial, both strategic and creative, and requires rapid learning, multitasking and prioritizing under tight deadlines, joining Lightstone this summer is the experience you're looking for!

ESSENTIAL FUNCTIONS:

* Review and analyze monthly financial and income statements, prepare benchmarking and/or other analyses related to maximizing revenues and minimizing expenses that lead to strategies to improve asset performance and value

* Review and work with hotel operator revenue managers to ensure the portfolio hotels' yield efforts are maximized, including but not limited to:

* Reviewing revenue potential

* Ensuring proactive and accurate management of all revenue management systems

* Confirming all segments and distribution channels are mined for revenue opportunities

* Validating all data required for effective revenue management

* Analyze and monitor the financial performance of properties, which entails:

* Maintaining financial models

* Analyzing for all potential cost savings; tracking implementation of initiatives

* Produce ad-hoc analyses to evaluate the performance of assets and drive decision-making

* Collect market data and conduct benchmarking analysis

* Regularly track and analyze factors affecting markets and submarkets associated with the portfolio, including demographics and changes in supply and demand

* Coordinate and support in annual budget and underwriting process

* Prepare regular presentations for the Executive Team and outside counter parties

* Collect market data and develop tools to assist in the determination of threats and opportunities facing the portfolio

* Analyze financial models to evaluate investment returns on proposed capital projects and acquisitions

* Assist with asset management of portfolio, including periodic property visits and interfacing with third-party management companies, project managers, brand representatives, and other third-party vendors/resources

* Participate in hotel site visits and market tours to obtain firsthand knowledge of our hotels, competition and demand generators

COMPETENCIES AND

EXPERIENCE:

* Prior exposure to hotel/F&B operations a plus

* Familiarization of hotel operations, sales, and revenue management concepts and tools preferred

* Strong analytical and quantitative skills, including modeling and financial analysis skills

* Excellent working knowledge of Microsoft Office suite, with an expertise in Excel

* Capacity to work effectively in an environment where one needs to take initiative and anticipate requests

* Superior verbal, written communications and presentation skills

* Demonstrated ability to identify errors/opportunities and effectively problem solve

* Capable of managing competing priorities while meeting deadlines with dependability

* Ability to work both independently as well as collaboratively with a team