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Senior Vice President, Asset Management - Hospitality

Join to apply for the Senior Vice President, Asset Management - Hospitality role at Brookfield Properties

Senior Vice President, Asset Management - Hospitality

Join to apply for the Senior Vice President, Asset Management - Hospitality role at Brookfield Properties

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Job Description

Vice President, Asset Management - Hospitality

Brookfield Asset Management (“Brookfield”) is a global alternative asset manager with over $385 billion in assets under management. With a 120-year heritage as owners and operators, Brookfield is invested in long-life, high-quality assets and businesses in more than 30 countries around the world. Brookfield leverages its operational expertise to enhance cash flows, increase the value of underlying assets, and generate superior returns for investors.

Location

Brookfield Place - 181 Bay Street

Job Description

Vice President, Asset Management - Hospitality

Brookfield Asset Management (“Brookfield”) is a global alternative asset manager with over $385 billion in assets under management. With a 120-year heritage as owners and operators, Brookfield is invested in long-life, high-quality assets and businesses in more than 30 countries around the world. Brookfield leverages its operational expertise to enhance cash flows, increase the value of underlying assets, and generate superior returns for investors.

As one of the world’s largest investors in real estate, with $194 billion in assets and 17,000 operating employees, Brookfield owns and operates iconic properties in the world’s most dynamic markets. Their global portfolio includes office, retail, multifamily, logistics, hospitality, self-storage, triple net lease, manufactured housing, and student housing assets.

Brookfield’s hospitality portfolio includes 25,000 rooms across 123 hotels including full service, select service and lifestyle hospitality assets in high-barrier destination markets around the world. Drawing on more than two decades of experience, their industry-leading hospitality team actively manages these assets and undertakes extensive capital improvements to boost operational performance and enhance location desirability.

About The Role

Brookfield is seeking a senior real estate professional to take a leading role in the asset management of a hospitality portfolio and also support assets Brookfield is in the process of acquiring. The successful candidate will be a discerning real estate professional with strong drive and passion for hospitality real estate. The ideal candidate should have deep experience in institutional asset management, development / re- development, and strategic asset planning. The ideal candidate will work as a key member of the team to maximize property valuation, optimize asset performance, ensure organizational effectiveness, implement high operational standards, and maintain strong operator relations.

This position will remotely-based, ideally near a major international airport, and this person will report to the Senior Vice President responsible for portfolio management activities for hospitality properties in North America. The team has a Chicago- based analyst pool and dedicated resources with strong technical backgrounds in specific disciplines within the hospitality industry.

Responsibilities

Asset Management

• 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.

Portfolio Management

Capex Management

Qualifications

Compensation & Location

We are proud to create a diverse environment and are proud to be an equal opportunity employer. Accordingly, we will accommodate the needs of all qualified applicants with disabilities during the recruitment and selection process in accordance with the Ontario Human Rights Code and Accessibility for Ontarians with Disabilities Act.

BPUS

Seniority level

Seniority level

Executive

Employment type

Employment type

Full-time

Job function

Job function

Finance and Sales

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