About Hospitality Investors Trust, Inc.
Hospitality Investors Trust, Inc. (“HIT REIT”) is a publicly registered non-traded real estate investment trust (“REIT”) which owns a diversified portfolio of strategically-located hotel properties throughout North America within the select service and full-service markets of the hospitality sector. Hospitality Investors Trust, Inc., through its operating partnership in Hospitality Investors Trust Operating Partnership, L.P., acquires and owns hotels in North America. As of March 31, 2018, the Company had acquired or had an interest in a total of 144 hotels with a total of 17,316 guest rooms located in 33 states. All but one of these hotels operated under a franchise or license agreement with a national brand owned by one of Hilton Worldwide, Inc., Marriott International, Inc., Hyatt Hotels Corporation, and Intercontinental Hotels Group or one of their respective subsidiaries or affiliates. 79 of the hotel assets the Company has acquired were managed by Crestline and 65 of the hotel assets the Company has acquired were managed by other property managers like Hilton, InnVentures, McKibbon Hotel Management, and Larry Blumberg & Associates (aka. LBA)
The primary purpose of this position is to support the Asset Management department and work closely with the Vice President(s) jointly representing the company’s financial and strategic interest for a portfolio of primarily Select Service Hotels. This position will interact closely with the department analysts and the capex team to maximize the return on investment. This position will study individual hotel performance as well as the performance of the portfolio. This position will also be involved in or lead operational enhancement programs and be heavily involved the annual operating budget process. Analysis of value added capital improvement and repositioning initiatives for individual assets may be required as needed. The Manager, Asset Management will participate in projects as needed and provide ad hoc reporting as needed or assigned by Senior Management.
To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations may be made to help enable qualified individuals with disabilities to perform the essential functions.
Essential Functions Statement(s)
· Assist in the preparation for and participate in property management company (PMC’s) monthly performance review calls/meetings as well as quarterly reviews as necessary.
· Benchmark reporting by brand to identify areas of cost savings or incremental revenue opportunities.
· Assist in the preparation for in-depth property visits and assist in the development of strategic action plans in coordination with the management team, which results in revenue, marginal profit and guest service improvements. This will require a detailed action plan and measurement process which will be used on follow-up visits.
· Maintain financial reports on a weekly/monthly/quarterly/annual basis for accurate tracking of revenues, profits, Flex/Flow, rate, occupancy, RevPAR, Quality Assurance and Guest Satisfaction for the portfolio.
· Monitor sales, revenue management and ecommerce strategies as directed to ensure optimal property performance and develop and implement plans and actions for improvement.
· Assist in the development of a comprehensive score card to rank owned assets.
· Participate in weekly revenue management strategy meetings as held by PMC’s for focus hotels.
· Analyze pace and rate/strategy position reports and identify areas for improvement.
· Assist with business evaluation, comp set analysis and price positioning as necessary.
· Complete brand revenue management system training for reporting and analysis.
· Develop and maintain trend reporting as necessary relating to revenue, market penetration or guest satisfaction scores.
·This position will interact with the Management companies to ensure that the Quality Assurance process and Guest Service tracking scores meet all Brand Standards and requirements and participate in Improvement Planner action plans as needed.
· Ensure properties are providing accurate 30, 60, 90-day revenue forecast twice monthly. Review and work with the managers to improve the deficiencies.
· Maintain a thorough understanding of factors affecting hotel markets and submarkets associated with the portfolio.
· Assist in efforts to complete due diligence as assigned for acquisitions including property site inspections, zoning, environmental, legal requirements, property capital requirements, feasibility studies, brand recommendations and conversion costs.
· Assist in the preparation and delivery of written presentations to Senior Management and or Board of Directors for final approval on Return On Investment analysis of significant projects as assigned. This may include lease tenant contracts or Food and Beverage leases for national brands, parking garage contracts, cell tower leases or retail leases to improve and maximize the assets’ current profitability.
· Stay current regarding industry trends in product development, FF&E, amenities and services, Operations and Design and Construction will contribute to the success of this position.
· Provide ad hoc reporting as required
SKILLS & ABILITIES