Executive Director - Asset Management (Hospitality)-20005478 (CDU911)

General Summary

As part of its development of Qiddiya City, Qiddiya Investment Company (“QIC”) will be developing a total of +120 hotels and serviced apartments with +41,000 keys over 20+ years with the initial assets scheduled to open Q4, 2026. The current business plan is for all hotels to be retained for long term investment by QIC. The Director – Asset Management (Hospitality) is a leadership role in the Asset Management hospitality team helping to shape and grow the team and the platform and ultimately focused on optimizing the overall performance of the QIC hotel portfolio.

Their accountabilities include:

• A senior role in the establishment and growth of the Hospitality Portfolio Management platform
• Managing the pre-opening, operational readiness, opening and stabilization of assigned assets
• Ensuring the hospitality portfolio delivers on Qiddiya City’s vision to be a world-class destination city which is home to the most innovative and immersive experiences.
• Achieving optimum financial and technical performance for each asset and the overall portfolio, contributing positively to the target return on investment and achieving long-term sustainable return
• Delivering QIC’s ESG vision and commitments for hospitality assets
• Maximizing the value of the QIC Hospitality portfolio.

Essential Duties and Responsibilities

• Assist in developing and implementing the Asset Management Framework for hospitality assets in Qiddiya including setting, monitoring and periodically refining a Hospitality Asset Management Strategy (“HAMS”) in conjunction with other Qiddiya City stakeholders.
• Assist the Asset Management (Hospitality) team structure and implement hiring in accordance with the HAMS.
• Proactively assist with operational readiness for the first hospitality assets scheduled for Q4 2026 completion
• Assist with creating and implementing Qiddiya Asset Management operational policies, standards and KPI’s for hospitality assets.
• Assist with the negotiation and execution of all hospitality management agreements (“HMA”) in conjunction with the Qiddiya Strategy and Development teams.
• Assist with all recruitment and procurement for hospitality assets in accordance with the HMA and Qiddiya policies.
• Assist with the asset handover, onboarding of all hotel operators and the pre-opening activities for all hotel assets in conjunction with the Qiddiya Development team.
• Assist with strategic relationships with all hotel operators and service providers.
• Engage and collaborate with other Asset Class colleagues to optimize overall Qiddiya customer experience, extract operating initiatives and synergies and asset performance including event management, security, transportation, marketing and communications, packages and pricing etc.
• In conjunction with the Asset Management – Facility Management team, develop and implement a Hospitality ESG Strategy for Qiddiya Asset Management which is aligned with the Qiddiya City approved ESG commitments.
• Oversee asset and portfolio reporting to the Executive Director - Asset Management (Hospitality) to:

1. Continually monitor and analyze asset and portfolio performance and risk across all target KPI’s
2. Develop and implement strategic responses to performance to ensure targets are consistently and reliably met or exceeded
3. Analyzing hotel operations, business plans, capital investments, sales & marketing plans and strategic alternatives
4. Formulating and make recommendations to the Head of Asset Management and required stakeholders for short and long-term strategic plans for the hotel assets
5. Research and remain close to all markets affecting the hospitality industry and specifically the markets in which the assets are situated, including supply and demand changes and trends
6. Examine and monitor the operating performance of the assets to ensure the return on investment in each asset is maximized
7. Meet with hotel executive teams to review monthly & quarterly operating performance, annual business plans and longer-term strategic plans
8. Proactively identify and resolve ownership issues to maintain the integrity of the assets
9. Ensure the effective deployment of capital by working with the hotel teams and third-party technical services consultants to execute and monitor each hotel's short and long-term capital plans
10. Prepare investment summaries and make recommendations for major hotel expenditures
11. Monitor and analyze return on investment for the assets as well as profit improving projects, either implemented or proposed
12. Identify value enhancement opportunities within the portfolio
13. Provide input to monthly, quarterly and annual internal reports to the Executive Committee for all assets in the hospitality portfolio