Asset Manager; Hospitality

Position: Asset Manager (Hospitality)
Job Overview

The Asset Manager, Hospitality acts as the primary representative for ownership, providing strategic oversight of third-party managed hotel assets. This role is responsible for maximizing the financial performance and long-term value of the hospitality portfolio. The individual will manage the relationship with third-party operators, lead financial underwriting for potential transactions, and coordinate joint venture relationships. By blending operational audit with high-level financial analysis, the Asset Manager ensures that each property aligns with ownership's investment objectives and the company's mission of delivering extraordinary experiences.

Key Responsibilities

Strategic Ownership Representation (Third-Party Managed)

• Act as the principal liaison between ownership and third-party hotel operators to ensure the execution of the approved business plan.
• Negotiate and monitor compliance with Hotel Management Agreements (HMAs), ensuring operators meet all contractual and financial obligations.
• Conduct monthly and quarterly performance audits, challenging operator assumptions and identifying opportunities for revenue growth or expense mitigation.
• Monitor key hospitality KPIs, including RevPAR Index, GOPPAR, and Flow-through/Retention.

Financial Stewardship & Underwriting

• Lead the financial analysis, reporting, and underwriting of potential hospitality transactions, acquisitions, and joint ventures.
• Review and approve annual operating budgets and monthly reforecasts.
• Perform complex sensitivity analysis, discounted cash flow (DCF) modeling, and Net Present Value (NPV) analysis for asset repositioning scenarios.
• Monitor and report on asset-level and portfolio-level performance to maximize returns for investors and JV partners.

Capital Planning & Asset Preservation

• Oversee the Capital Expenditure (Cap Ex) budget, ensuring that renovations and Property Improvement Plans (PIPs) are completed on time, within budget, and contribute to the asset's competitive positioning.
• Coordinate with third-party vendors and internal teams on major property-level projects, including facility maintenance and landscaping standards.

Leadership & JV Relations

• Produce timely and accurate internal and external communications for JV partners and senior executives.
• Supervise and mentor assigned Analysts, ensuring a high level of excellence in all financial modeling and reporting deliverables.
• Manage all aspects of transaction pursuit and due diligence, including the preparation of Investment Committee materials.

Qualifications

• 5-10 years of experience in hospitality asset management or hotel investment analysis.
• Bachelor's degree in Finance, Hotel Management, Real Estate, or a related field.
• Advanced skills in Microsoft Excel. Proficiency in Yardi Voyager and Argus Enterprise is required.
• Exceptional financial modeling skills with a deep understanding of hotel P&Ls, benchmark reporting (STR), and valuation techniques.
• Strong leadership and negotiation skills; ability to establish strong working relationships with third-party operators and joint venture partners.
• Excellent communication and leadership skills
• Strong organizational skills and attention to detail, with the ability to manage multiple priorities simultaneously.
• Proven ability to manage competing priorities and lead support staff

Benefits

Compensation:
- Competitive Salary with Bonus Potential
- Generous Benefit Package:
Medical, Dental, Vision, 401K Match, Life Insurance

Career Development
- Opportunities for Advancement within our expanding portfolio
- Annual Professional Development Funds to fuel your growth

Employee Perks (to name a few):
- Housing Discount
- Commuter Benefits
- Free Parking and EV charging
- Parental Leave Program
- Enjoy a Friendly Work Environment that values collaboration

Explore more perks and possibilities here for growing your career with Comstock Companies! Discover what sets us apart!