Director of Asset Management

Hiring Director of Asset Management for one of our clients in RAK.

The DoAM is responsible for the Asset Management of the portfolio of hotels. Specifically, the role calls for the oversight of Operator compliance with the Hotel Management Agreements and safeguarding of the company’s assets and their valuations. Additionally, the role is responsible for the commercial and fiscal oversight of the portfolio and relevant reporting to the C-Suite, the Board and the Stakeholders. The DoAM will be the direct linkage between the company and the hotel management and finance teams, and will also be responsible for the financial reporting, accuracy and planning of the owners’ accounts, supporting the CFO with project financing and bank financing.

Principles and Standards

Analyse and recommend the application of accounting/operating principles in collaboration with Finance and Business Support

Coordinate and manage the company’s external and internal audit processes in relation to hotel assets.

Keep updated on required compliance and regulatory framework knowledge to perform his duties

Compliance with Policies and Procedures/Governance

Monitor compliance with the company’s policies and procedures in order to minimize fraud and other financial loss

Utilize the General Counsel where issues in relation to reputation arise

Financial Planning & Budgeting

Oversee and consolidate the Annual operating budgets for assets in collaboration with the Finance and Business Support team

Assist C-Suite in the development and refinement of the 5-year business plan of the company

Monitor and report on the implementation of the long-term business plan of the company

Manage the quarterly forecasting process for all hotel assets and operator consolidation in collaboration with the Finance and Business Support team.

Propose improvements and automation to the compliance monitoring, financial planning, and budgeting process, wherever possible

Commercial Oversite

Review of annual commercial plan and ensure meets Group’s long-term strategy.

Quarterly commercial review to ensure strategies and performance are being adhered to and met.

Oversee revenue management, sales and marketing and distribution strategy of the Group’s hotels.

Regular review of business on-the-books, pricing, segmentation, and strategy, making recommendations for any adjustments required.

Perform competitive benchmark studies and follow market trends.

Analyse monthly hotel performance and provide a summary report with recommendations to improve long-term strategies.

Oversite of best practice standards to include: competitor analysis; channel and distribution channels; business mix yield management; length of stay; and room types

Evaluate the performance of distribution partners and contracted rates (OTA, FIT, tour operator, corporate, consortia, crew, groups, etc…).

Analysis and Reporting

Direct, supervise and review the daily, weekly, monthly, quarterly and annual reporting process to stakeholders

Lead monthly Trading Reviews with the hotel operators

Detailed review of monthly operator financial results and reporting of proposed actions

Provide analysis on the financial and commercial performance of company’s assets that is meaningful and insightful

Preparation of a written monthly C-Suite and Board Report highlighting KPI’s, areas of strategic focus, Capex and operational performance.

Balance Sheet reviews of each asset at least once a year with reports to be submitted to Operator and C-Suite

Treasury Management (in conjunction with CFO)

Monitor cash balances cash and flow forecasts

Seek opportunities to invest funds on deposit

Responsible for compliance with banking governance and covenants in Hotel Management Agreements (as applicable)

Support and review project costing and monitoring in conjunction with Director of Technical Services

Process and Cost Efficiency

Identify and discuss with Operator areas of improvement when compared to operational best practices

Address issues raised by Operators an provide solutions or feedback within reasonable timeframes. Align with COO on the presented solutions

Preferred Qualifications

1. Professional accreditation e.g. ACA, ACCA, CPA, etc.
2. Bachelor’s degree in Commerce / Business / Accounting or similar.

Minimum Experience

1. 10+ years of experience demonstrating a track record of success in hospitality management roles.
2. 3+ years in director responsibility roles

Job-Specific Skills

1. Knowledge of and experience in the hospitality sector
2. Detail orientation
3. Methodical and organized personality