Market Vice President | Bethesda Magazine

Market Vice President

Host Hotels & Resorts

Business/Management, Project Management | Senior-level | Full-time
Date posted: 06-30-19

SUMMARY OF POSITION

The Market Vice President, Asset Management will be responsible for a portfolio of first-class hotel assets ranging from 9 to 13 properties that total from 5,000 to 10,000 guest rooms and approximately $2 to $6 billion in total asset value. The position is responsible for maximizing real estate value through optimized hotel operations, keen capital planning and value enhancement initiatives. The individual will partner with the best operators and industry talent to grow total shareholder return.

KEY RESPONSIBILITIES

  • Develop and implement short and long-term strategies, designed to sustain or improve the value of the portfolio through cash flow and long-term asset value enhancement initiatives. Explore and underwrite property level ROI opportunities consistent with strategy.
  • Develop and maintain an investment plan for each property within the assigned portfolio. Understand key contract terms to realize investment and capital planning opportunities; partner with various team members to optimize contract renegotiation opportunities both at the property and third-party partner level.
  • Maintain a thorough understanding of all factors affecting markets and sub-markets associated with each property’s positioning including but not limited to supply and demand factors, industry and local market influencing organizations and competitive properties.
  • Partner with management companies’ regional leadership and property leadership teams to realize operating goals and maximize the investment return. Build and maintain relationships at the property and in market level by touring the property and engaging key stakeholders.
  • Responsible for supporting both internal and external counsel, accountants, appraisers and other consultants in property specific issues that regularly occur. Ensure that property specific compliance requirements are completed including accounting and quarterly reporting of financial statements, requirements of ground lessors, third-party lender requirements, settlement agreements, local taxing and zoning authorities.
  • Partner with Host’s internal design and construction team, third party contractors and property teams to ensure capital projects are completed on time and within budget.
  • Collaborate with colleagues on measurement and tracking of initiatives and reporting requirements that are needed monthly, quarterly and on an annual basis.
  • Participate in special projects, as well as company and department-wide initiatives that may include evaluation (due diligence) of properties for acquisition or disposition among other recurring and non-recurring events.

EDUCATION/EXPERIENCE

  • Undergraduate degree from accredited university required with hospitality management focus. Masters degree a plus.
  • Minimum 12-15 years of relevant experience in the hotel and/or commercial real estate industries, with 6 years in a leadership capacity overseeing high value assets.
  • Experience in other aspects of the lodging, hospitality and/or real estate finance is highly desirable.
  • Experience in a regional position overseeing a multi-unit operation is a plus.
  • Hotel Asset management experience is required.

REQUIRED SKILLS

  • Excellent interpersonal skills and a professional manner;
  • Ability to work independently and prioritize projects is critical;
  • Team oriented and the flexibility to provide assistance where needed;
  • Strong communication skills, both verbal and written;
  • Demonstrated evidence of strong financial and analytical acumen;
  • Sensitivity to and respect for the confidential nature of the subject matter of the job;
  • Capacity to travel on an as-needed basis up to 40%

It is the policy of Host Hotels & Resorts to provide equal employment opportunity (EEO) to all persons regardless of race, color, religion, national origin, gender, age, sexual orientation, gender identity, gender expression, ancestry, genetic information, disability, marital status, or veteran status, or any other characteristic protected by federal, state or local law. In addition, Host will provide reasonable accommodations for qualified individuals with disabilities.

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