Come for a JOB, stay for a CAREER.
Asset Manager
Waterford Hotel Group - Corporate Office
914 Hartford Turnpike
Waterford,
CT
06385
Corporate Office
Managed By
Waterford Hotel Group
Full-Time
ABOUT US
At Waterford Hotel Group we pride ourselves on cultivating a workplace that feels like home and brings out the best in you, each and every day. We will celebrate your successes, appreciate your strengths, and offer an environment where each of us can truly be ourselves. We provide competitive compensation and benefits, a tight-knit and supportive work environment, plus numerous opportunities for professional development and advancement. Come for a JOB, stay for a CAREER.
The Ideal Candidate for this Position
The Asset Manager will focus primarily on supporting the performance of as well as recommending strategic, value-added initiatives related to the portfolio that the principals of Waterford Hotel Group have ownership in.
Job Responsibilities
- Negotiating key contracts and agreements including loan documents, HMAs, leases, etc.
- Helping to drive portfolio strategy with ownership and managers as the team manages the properties through impending loan maturities, capital projects, operating performance recovery, franchise expirations, etc.
- Modeling complex cash flows and partnership structures to report asset performance and prepare quarterly valuations to Waterford Asset Management executive team and investors.
- Preparing hold/sell recommendations and ongoing asset status reports.
- Researching competitive properties and real estate markets and providing asset performance analysis based on market conditions.
- Interacting with management partners to effectively identify asset performance issues and collectively determine successful action plans.
- Conducting monthly P&L reviews to identify both positive and negative variances and working with managers to exploit opportunities.
- Reviewing booking pace, STR reports, market segmentation and revenue management strategy to ensure topline goals are met.
- Traveling, domestically to visit real estate assets, companies and existing partners.
- Assisting with underwriting potential real estate and structured finance acquisitions.
- Developing capital improvement plans and any potential revenue displacement and monitoring ongoing capital projects.
- Tracking and identifying opportunities to improve guest satisfaction experiences and online reputation.
- Perform other related duties as assigned.
Job Requirements
- 2-3 years relevant industry experience preferred, including real estate acquisitions, asset management, construction management/budgeting, hotel operations
- Strong communication skills (both written and oral).
- Development and/or real estate cash flow modeling experience.
- Strong quantitative and technical/computer skills (including proficiency in Microsoft Excel and PowerPoint).
- Strong understanding of hotel finances including Profit and Loss statements and Balance Sheets.
- Bachelor’s degree in hospitality management, real estate, finance, business or related area.
- Asset Manager experience in a similarly situated company would be considered a real plus.
- A true self-starter capable of accomplishing complicated tasks with limited supervision.
- Authorization to work in the United States is required
- Must be able to pass a background check.
Benefits
WATERFORD HEALTH AND WELLNESS
Health Insurance is available on the first of the month after hire!
We value the health and wellness of you and your family. Full time associates can enroll in medical, dental and vision coverage and part-time associates averaging 17.5 hours a week can enroll in dental and vision coverage. Everyone’s needs are different and there is something for everyone with numerous supplemental insurances to choose from.
We know that life gets in the way, and YOU deserve to recharge.
Full-time associates receive paid time off within the first 90 days of employment. We also offer paid holidays for eligible associates. If you stick with us for five years or more, enjoy paid days off for your Birthday and Employment Anniversary date!
EXCITING EXTRAS
On Demand Pay- Why wait for pay day – get your pay when you need it24/7.
Pet Insurance- We cover the whole family, and all associates are eligible for discounted pet insurance.
401k Plan- Nobody wants to work forever, start planning for your future now.
Hotel Discounts- It’s one of the biggest industry perks.
Shoes for Crews- All associates are eligible for a shoe subsidy through Shoes for Crews.
For more information, please visit our website at waterfordhotelgroup.com
EOE/M/F/D/V
Posted March 10, 2024
Waterford Hotel Group - Corporate Office
Company Description
Waterford Hotel Group manages properties in 9 states with more than 6,200 rooms. Our portfolio includes limited-service and full-service hotels, conference centers, all-suite and resort hotels, all of which are franchised or independently owned properties.
Why People Like to Work for Us
Waterford Hotel Group believes that the quality of our staff directly translates into operational excellence and overall guest satisfaction. The quality of our staff is reflected through the high levels of associate satisfaction, continuously motivated by a passion for excellence, integrity and fairness. This is achieved through on-going training, an emphasis on teamwork, an intimate knowledge of our properties and a thorough understanding of the needs of our customers, guests, and the communities we serve.
Waterford Hotel Group offers a wide range of benefits to eligible associates, which include medical, dental, life, and disability insurance, 401 (k) retirement plan, paid holidays, personal days, vacation time, educational assistance programs, and associate room discount.