Vice President - Hotel Asset Management

Job ID

169366

Posted

20-Jun-2024

Service line

Advisory Segment

Role type

Full-time

Areas of Interest

Capital Markets

Location(s)

Los Angeles - California - United States of America

Are you ready to start an exciting career with CBRE?

About the Role:

As a CBRE Vice President - Hotel Asset Management, you will achieve strategic goals and deliverables for a client or set of clients. These clients will be within select service, boutique, full-service hotels and complex lodging assets and portfolios with various locations. The geographic area may be local, regional, national, and/or global markets. This position requires monthly/quarterly travel to location for on-site meetings and property inspections.

This job is part of the Global Hotel Asset Management practice, within the CBRE Hotels, Capital Markets vertical. The Global Asset Management practice offers third party asset management services and is responsible for the oversight of individual assets or a portfolio of hotels with the purpose of optimizing performance and maximizing the value of the real estate for our clients.

What You’ll Do:

• Actively manage a hospitality portfolio and identify value enhancement opportunities on behalf of clients/ownership groups.

• Gain an understanding of the clients’ investment goals and objectives for their assets/portfolio and own the performance of the assets/portfolio to ensure they are on track with the investors’ strategic plan.

• Perform hotel revenue management, cost and accounting/financial analyses and use industry benchmarks to analyze hotel operations, performance improvement plans, sales and marketing plans to develop strategic roadmaps to improve performance.

• Establish KPI's (Key Performance Indicators) for the assets/portfolio on behalf of ownership.

• Lead monthly/quarterly/annual operating performance reviews and interact with department heads and other operator/brand executives to identify future business direction and influence actionable corrective measures to achieve optimal performance and advance ownership’s objectives.

• Note growth, labor, and market changes that could impact real estate requirements. Provides insights for strategic and/or optimization-focused initiatives.

• Proactively identify and resolve performance, ownership, and management issues.

• Apply extensive and diversified knowledge of hospitality markets, supply and demand fundamentals and key performance drivers to anticipate changes that may impact the performance of the portfolio.

• Develop and use advanced techniques, and theories to create unprecedented solutions.

• Proactively oversee the implementation of preventive maintenance initiatives and ensure the effective deployment of capital expenditures and renovations of the portfolio.

• Review, opine and negotiate the operator/brand pre-opening and post-opening budgets and operating business plans.

• Develop and maintain financial analyses by department rooms, F&B, revenue management, etc.

• Participate in operator/brand selection processes and hotel management agreement negotiations.

• Write and deliver investment summaries, annual strategic plans, dashboards, monthly and/or quarterly performance reports and ad-analyses.

• Prepare hold vs. sell analysis and provide well-supported recommendations.

• Develop and track proactive initiatives and return on investment for the assets/portfolio.

• Showcase in-depth expertise in leading-edge theories, techniques, and/or technologies within own function.

• Use experience and knowledge of all job areas within a function, practical experience in several functional areas or businesses, or concentrated knowledge of a particular discipline to manage, coach and guide others.

• Actively participate and contribute to the growth of the Global Asset Management practice – assisting in pitches, business development and contributing with the development of tools and best practices to be rolled out globally.

• Lead by example and model behaviors that are consistent with CBRE RISE values. Negotiates with senior management, customers, regulators, or vendors to influence decisions of strategic importance. Anticipate potential objections, and persuade others, often at senior levels and of divergent interest, to adopt a different point of view.

• Drive the direction and resource allocation for programs, projects, or services.

• Significantly impact the design of policies and procedures. Provide moderate impact on the business direction through the development of innovative services or products.

What You’ll Need:

To perform this job successfully, an individual will need to perform each crucial duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

• Bachelor's Degree preferred with 10-15 years of relevant experience – relevant hospitality experience is a must, hotel finance and/or revenue management experience preferred.

• Multi-dimensional, conceptual, and innovative thinking to develop new solutions.

• Ability to identify and solves the most complex problems.

• Ability to review, understand and question financing reports – P&L, balance sheet, cash flow statements, trial balance, aging reports and other financial reports.

• Ability to prioritize and manage multiple projects/clients/tasks.

• Excellent written and verbal communication skills.

• Strong team player, self-motivated, results-driven individual with a high degree of professional maturity.

• In-depth knowledge of Microsoft Office products. Examples include Word, Excel, PowerPoint, Outlook, etc.

• Expert organizational skills with an unrivaled inquisitive mindset.

Why CBRE?

When you join CBRE you will have the support and resources of a global firm where an entrepreneurial mentality is encouraged. You'll realize your potential with exciting work, fast-paced assignments, an environment of constant learning and dedication to results! To enable your success, we provide the best tools, training and leaders in the industry.

Our culture is built on our RISE values and reflects the needs and perspectives of our clients and our people. Our work is guided by our North Star: Crafting the real estate solutions of tomorrow, so businesses and people thrive.

CBRE carefully considers multiple factors to determine compensation, including a candidate’s education, training, and experience. The minimum salary for the Investment Properties Senior Consultant position is $155,000 annually and the maximum salary for the Investment Properties Senior Consultant position is $175,000 annually. The compensation that is offered to a successful candidate will depend on the candidate’s skills, qualifications, and experience. Successful candidates will also be eligible for a discretionary bonus based on CBRE’s applicable benefit program. The application window is anticipated to close on June 24 and may be extended as needed. Or to express interest in similar roles, visit CBRE.com/careers

Equal Employment Opportunity: CBRE is an equal opportunity employer that values diversity. We have a long-standing commitment to providing equal employment opportunity to all qualified applicants regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, pregnancy, age, citizenship, marital status, disability, veteran status, political belief, or any other basis protected by applicable law.

Candidate Accommodations: CBRE values the differences of all current and prospective employees and recognizes how every employee contributes to our company’s success. CBRE provides reasonable accommodations in job application procedures for individuals with disabilities. If you require assistance due to a disability in the application or recruitment process, please submit a request via email at recruitingaccomodations@cbre.com or via telephone at +1 866 225 3099 (U.S.) and +1 866 388 4346 (Canada).

NOTE: Some, but not all, of our positions may have an additional requirement to comply with COVID-19 health and safety protocols, including COVID-19 vaccination proof and/or rigorous testing. If you have questions about the requirement(s) for this position, please inform your Recruiter.

CBRE, Inc. is an Equal Opportunity and Affirmative Action Employer (Women/Minorities/Persons with Disabilities/US Veterans)