Vice President Of Asset Management

Company: HHM
Location: Philadelphia
Posted on: March 19, 2023

Job Description:

HHM has a stable and growing investment portfolio of approximately 30 hotels. In addition, HHM operates over 235 hotels across the United States and Canada. It provides turnkey hotel management, investment, and asset management for properties with leading brand affiliations through Marriott, Hilton, Hyatt and IHG. HHM also operates approximately 50 independent hotels ranging from The Rittenhouse Hotel, a Forbes Four-Star property in Philadelphia, to the Larkspur Landing hotels, all-suite extended stay properties in Northern California and the Pacific Northwest. -

The position will be responsible for supporting the Chief Financial Officer & Head of Investments in the management of HHM's growing portfolio of joint venture hotel investments. This includes monitoring portfolio performance and making recommendations for value maximization, conducting ROI and ad hoc analyses, cash management, and financial investment modeling. The individual will have direct exposure to the executive management team and will be expected to interact with capital partners, lenders, and brokerage firms as appropriate. HHM prioritizes career development, gives associates ownership of projects, and allows associates strategic runway to impact stakeholders. The position is located in the company's Philadelphia office.

Responsibilities:
--- Set strategic operational and capital initiatives across the owned portfolio and work with asset managers, operators, and capital projects team members to ensure successful completion.
--- Oversee generation of weekly and monthly portfolio performance reports in order to assist in developing successful strategies and decisions relative to revenue management, sales, operations, and expense management. -
--- Conduct analyses of individual hotel financial statements and operating performance, while challenging hotel operations management to respond where areas of opportunity exist.
--- Lead, hire, train, and mentor team of asset management professionals to analyze property income statements, conduct benchmarking analysis and prepare other ad hoc analyses related to portfolio performance to drive business outcomes and decisions.
--- Maintain investment models for the joint-venture portfolio, including recommendations for hold/sell and refinancing decisions.
--- Evaluate the impact of capital expenditure projects (annual and five-year) with the goal of finding the most cost-effective solution while still maintaining the highest guest satisfaction for the brand.
--- Assist with partners portfolio cash management, including cash forecasting, tracking, lender waterfalls and disbursements, and distribution recommendations.
--- Oversee capital planning and execution for the portfolio, including budget, schedule, and coordination with the project management team.
--- Maintain relationships with institutional investment partners, including weekly/monthly calls, reporting requirements and ad hoc requests.
--- Assist with potential opportunistic disposition activity including information gathering, broker/investor interactions and creation of ad hoc analyses.
--- Collect market data and maintain database of all factors affecting markets and submarkets for each hotel and/or portfolio, including demographics and changes in supply and demand.

Qualifications:
--- 8-10+ years of relevant experience in hotel asset management, preferably with assets in key gateway markets
--- A Bachelor's degree in business, finance, real estate, and/or hospitality. Preferred Master's degree in business or related field.
--- 5+ years of experience in hospitality operations, real estate, and/or consulting
--- Knowledge of hotel operations and investment principles, as well as market, feasibility analysis, and financial structures
--- Must be able to analyze financial statements and related performance metrics, including hotel STR reports, balance sheets, and cash flow statements
--- Mastery of Excel and PowerPoint
--- Superior communication skills, oral and written. Analytical, self-motivated, well-organized, and results-driven professional. Ability to work independently and prioritize multiple projects to meet deadlines
--- Strong computer modeling and business writing skills

About Company:
HHM is an award-winning hotel management and investment company that operates over 200 full-service and select-service hotels with 10,000 associates in markets across the country. -HHM is a leading manager of different brands, and also operates over 30 independent luxury and lifestyle hotels. The highly experienced and stable operating team is known for being nimble, accountable, and passionate in how they drive market-leading results for owners and best-in-class experiences for associates and guests.

Keywords: HHM, Philadelphia , Vice President Of Asset Management, Executive , Philadelphia, Pennsylvania