Director of Asset Management

Hersha Hospitality Management
Published
June 21, 2022
Location
Philadelphia, PA
Category
Job Type

Description

Position:

Director, Asset Management

Company & Employment Description:

HHM operates roughly 180 hotels across the United States. It provides turnkey hotel management, asset management and receivership for properties with leading brand affiliations through Marriott, Hilton, Hyatt and IHG. HHM also operates 28 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 Sr. Director of Asset Management and the Chief Development Officer in the management of HHM’s growing portfolio of JV hotel investments. Key functions include monitoring portfolio performance and making recommendations for value maximization, evaluating ROI opportunities, 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.

Position Responsibilities:

  • Oversee all aspects of the JV portfolio, including investment management, performance analysis, capital planning, hold/sell analyses and dispositions, and cash management
  • Work with the operations team to develop and execute strategies relative to revenue management, sales, operations, and expense management to grow market share and NOI
  • Maintain quarterly investment models for the portfolio, including recommendations for hold/sell and refinancing decisions
  • Oversee portfolio cash management, including cash forecasting, tracking, lender waterfalls and disbursements, and distribution recommendations
  • Help oversee capital planning and execution for the portfolio, including budget, schedule, and coordination with the project management team
  • Maintain relationships with our JV capital partners and lenders
  • Make recommendations for and manage potential opportunistic disposition activity

Position Requirements

  • A Bachelor’s degree in business, finance and/or hospitality
  • 5+ years of experience in hospitality operations, real estate, and/or consulting
  • Knowledge of hotel operations and investment principles
  • 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
  • Strong computer modeling and business writing skills
  • 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

HHM Benefits and Perks

  • Medical, Dental and Vision Health Insurance
  • Paid Time Off
  • 401k Company Match
  • Free Basic Life Insurance
  • Travel Discounts
  • Commuter Transit and Commuter Parking Benefits
  • Employee Assistance and Wellness Program
  • Educational/Professional Development
  • Technology Reimbursements

Work Environment and Context

  • Required to sit for extended periods, lift up to 10 pounds, bend, reach, use hands and fingers to operate keyboard.

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