Job OverviewThe Asset Manager, Hospitality acts as the primary representative for ownership, providing strategic oversight of third-party managed hotel assets. This role is responsible for maximizing the financial performance and long-term value of the hospitality portfolio. The individual will manage the relationship with third-party operators, lead financial underwriting for potential transactions, and coordinate joint venture relationships. By blending operational audit with high-level financial analysis, the Asset Manager ensures that each property aligns with ownership's investment objectives and the company's mission of delivering extraordinary experiences.
Key ResponsibilitiesStrategic Ownership Representation (Third-Party Managed)- Act as the principal liaison between ownership and third-party hotel operators to ensure the execution of the approved business plan.
- Negotiate and monitor compliance with Hotel Management Agreements (HMAs), ensuring operators meet all contractual and financial obligations.
- Conduct monthly and quarterly performance audits, challenging operator assumptions and identifying opportunities for revenue growth or expense mitigation.
- Monitor key hospitality KPIs, including RevPAR Index, GOPPAR, and Flow-through/Retention.
Financial Stewardship & Underwriting- Lead the financial analysis, reporting, and underwriting of potential hospitality transactions, acquisitions, and joint ventures.
- Review and approve annual operating budgets and monthly reforecasts.
- Perform complex sensitivity analysis, discounted cash flow (DCF) modeling, and Net Present Value (NPV) analysis for asset repositioning scenarios.
- Monitor and report on asset-level and portfolio-level performance to maximize returns for investors and JV partners.
Capital Planning & Asset Preservation- Oversee the Capital Expenditure (CapEx) budget, ensuring that renovations and Property Improvement Plans (PIPs) are completed on time, within budget, and contribute to the asset's competitive positioning.
- Coordinate with third-party vendors and internal teams on major property-level projects, including facility maintenance and landscaping standards.
Leadership & JV Relations- Produce timely and accurate internal and external communications for JV partners and senior executives.
- Supervise and mentor assigned Analysts, ensuring a high level of excellence in all financial modeling and reporting deliverables.
- Manage all aspects of transaction pursuit and due diligence, including the preparation of Investment Committee materials.
Qualifications- 5-10 years of experience in hospitality asset management or hotel investment analysis.
- Bachelor's degree in Finance, Hotel Management, Real Estate, or a related field.
- Advanced skills in Microsoft Excel. Proficiency in Yardi Voyager and Argus Enterprise is required.
- Exceptional financial modeling skills with a deep understanding of hotel P&Ls, benchmark reporting (STR), and valuation techniques.
- Strong leadership and negotiation skills; ability to establish strong working relationships with third-party operators and joint venture partners.
- Excellent communication and leadership skills
- Strong organizational skills and attention to detail, with the ability to manage multiple priorities simultaneously.
- Proven ability to manage competing priorities and lead support staff
BenefitsCompensation:
- Competitive Salary with Bonus Potential
- Generous Benefit Package: Medical, Dental, Vision, 401K Match, Life Insurance
Career Development
- Opportunities for Advancement within our expanding portfolio
- Annual Professional Development Funds to fuel your growth
Employee Perks (to name a few):
- Housing Discount
- Commuter Benefits
- Free Parking and EV charging
- Parental Leave Program
- Enjoy a Friendly Work Environment that values collaboration
Explore more perks and possibilities here for growing your career with Comstock Companies! Discover what sets us apart!
The wage range listed for this position reflects a reasonable estimate and considers multiple factors that influence compensation decisions. These may include, but are not limited to, your skills, experience, training, licensure, certifications, and the specific needs of the organization. The posted range does not reflect adjustments for geographic differentials tied to where the role may be filled.
At Comstock, it is not typical for a new hire to start at or near the top of the posted range. Compensation is determined based on the unique circumstances of each candidate.
You may also be eligible to participate in a discretionary annual incentive program. Any award under this program is subject to its rules and may depend on individual and organizational performance.
Virginia Compensation Range
$150,000-$180,000 USD
