Brookfield Properties · 2 days ago
Vice President, Asset Management (Remote)
United States
Full-time
Remote
Director/Executive
$225K/yr - $265K/yr
10+ years expBrookfield Properties is a global alternative asset manager with a strong presence in the real estate sector. They are seeking a senior real estate professional to lead asset management for a hospitality portfolio, focusing on maximizing property valuation and optimizing asset performance.
Commercial Real EstateConstructionCoworkingHospitalityLogisticsProperty DevelopmentProperty ManagementReal EstateResidentialRetail
Responsibilities
Perform asset management activities, including development of capex, branding, operational, management and repositioning strategies and adherence to the detailed business plan
Act as the owner representative in interactions with hotel brand and management teams to ensure owner strategies are effectively implemented
Proactively engage with hotel teams to create and implement operating models that maximize revenue and profitability
Prepare and present weekly, monthly, quarterly, and annual asset management and portfolio reports, cash flow forecasts, and distribution analyses
Revise strategies and the accompanying business plan to address changes in market and/or property conditions as well as any amended investment strategies
Perform detailed review of weekly forecasts and pace reports, monthly financial statements, STR reports, brand audits, guest surveys and revenue management strategies to identify weaknesses and inefficiencies as well as revenue enhancement opportunities
Provide recommended solutions to any operational issues that could impact the financial performance of an asset
Lead weekly revenue calls with hotel teams and identify and implement actions to gain market share
Conduct regular expense reviews to ensure that the assets are meeting or exceeding operating targets, margins and flex / flow metrics
Conduct Monthly Operating Reviews with hotel and regional operations teams to review all areas of the operation; ensure that the asset is on track to meet or exceed business plan
Review and analyze each asset’s annual business plan, sales and marketing plan, and annual budget; engage with hotel teams to discuss risks and opportunities related to the annual plan and budget
Track market activity to remain current on trends and events affecting the hospitality industry, as well as local market dynamics including supply and demand changes and trends
Negotiate and ensure compliance with third-party leases, franchise agreements, management contracts property improvement plans, and other vendor related documents that impact hotel operations
Prepare and update 5-year forecasts for each asset on a quarterly basis to drive the quarterly valuation process
Ensure that the physical integrity of the assets is maintained at an institutional quality level, via robust engineering, and preventive maintenance programs
Assist in the underwriting process for new acquisitions, assess market risk and opportunities, conduct benchmarking analyses, identify and incorporate asset-level value add opportunities into the pro forma underwriting
Analyze and report on asset level performance compared to industry benchmarks and company key performance indicators as determined through the underwriting and business plan
Coordinate with treasury and accounting teams to assess weekly property cash flow needs, capital requirements, and property-level distributions
Coordinate with internal teams and lenders on reporting, loan agreement compliance, debt covenant tracking, draw requests and cash management requirements
Work closely with the internal project management team and consultants to create capital budgets that help maximize revenue and profitability, and enhance the long-term value of the asset
Monitor the management and implementation of capital renovation projects and operating activities, and work with project management to ensure that capital projects are completed within the approved budget and timeline
Qualification
Required
At least 10 years of experience managing hospitality assets, preferably in real estate private equity or real estate asset management
Deep experience in institutional asset management, and strategic asset planning with a drive for excellence and a passion for the hospitality sector
Broad geographic asset management and operational expertise
Proven track record of being lead on portfolio management
Familiar with acquisitions, the underwriting process, and onboarding assets pre and post-closing
Experience managing teams as well as coordinating with other departments and external stakeholders
Exceptional analytical skills and operational acumen to oversee and refine asset-level analyses
Effective presentation skills, including strength in verbal and written communications
An entrepreneurial spirit, with strong work ethic and high degree of self-motivation
A proactive, forward-looking approach to hospitality asset management
Ability to adapt to shifting market dynamics and develop innovative solutions
A collaborative nature, with a willingness to build and sustain productive working relationships with colleagues across various teams
Ability to influence hotel brands and operators, and create change at the asset level
Proficiency in applicable software
Willingness to travel significantly to various assets nationally
Undergraduate degree
Preferred
Hotel operations experience a plus
MBA or other related graduate degree a plus
Benefits
Medical & Pharmacy Coverage: Yes, under Brookfield Medical Plan
Dental Coverage: Yes, under Brookfield Medical Plan
Vision Coverage: Yes, under Brookfield Medical Plan
Retirement: 401(k)
Insurance: Employer-paid life & short/long term disability
Company
Brookfield Properties
Brookfield Properties is a fully-integrated, global real estate services company
5001-10000 employees
H1B Sponsorship
Brookfield Properties has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2023 (1)
2021 (1)
Funding
Current Stage
Public CompanyTotal Funding
unknown1999-06-11IPO
Leadership Team
Scott Nenninger
Vice President, Business Development
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