Best Western

Director of Finance

Best Western • $120K — $150K *
New York, NY 10025In-Person
Hospitality & Recreation
5 - 7 years of experience
1 month ago
Job Overview by Ladders

Qualifications

  • 5+ years of experience in Hospitality Finance/Accounting
  • Prior experience as a Controller or Director of Finance in a premium-branded hotel
  • Strong verbal and written communication skills
  • Bachelor's degree in Finance or Accounting required
  • Experience supervising a team of 2 or more
  • Proficient in Windows, spreadsheets, and hotel-specific systems

Responsibilities

  • Manage and communicate cash flow issues with timely financial statements
  • Monitor hotel revenues and expenses for accuracy and compliance
  • Create annual budgets and conduct variance analysis with practical improvements
  • Ensure regulatory compliance for licenses, contracts, and taxes
  • Analyze financial data to guide management in financial objectives
  • Review and approve balance sheet accounts and reconciliations
  • Audit internal financial controls across all operational areas
  • Coordinate with auditors for financial reviews
  • Supervise and develop finance staff, providing training and coaching
  • Prepare all financial reports on schedule, meeting Highgate Hotels' standards

Benefits

  • Health, dental, and vision insurance options
  • Paid time off and holiday pay
  • 401(k) retirement plan with company match
  • Employee discounts on hotel stays and services
  • Opportunities for professional development and advancement
Full Job Description
Compensation Type

Yearly

Overview

The Director of Finance is responsible for providing consistent leadership in the financial area of the hotel by focusing on the profitability of the business; maintaining accurate and timely financial reporting; ensuring acceptable levels on internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels 's Standard Operating Procedures; and safeguarding owners/investors assets.

Responsibilities

  • Effectively manage and communicate cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds.
  • Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines. Monitors and controls Hotel's cash flow and operating forecast.
  • Creates annual budgets and monthly variance analysis. Investigates and critiques variances to budget or to prior year and offer practical improvement methodologies to management.
  • Ensure hotels' compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Provide assistance to management in enforcing compliance on all these items.
  • Analyze financial data and operations in order to assist and advise management in maintaining the hotels' financial objectives.
  • Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations
  • Timely reviews and approval of all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations.
  • Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records.
  • Successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis.
  • Hire, train, supervise and develop staff, including coaching, counseling and discipline.
  • Maintain compliance with Highgate Hotels' standards and regulations to ensure safe and efficient operation of the hotel.
  • Directs or prepares all financial reports in accordance with Highgate Hotels' requirements, meeting various due dates and deadlines, i.e:
    • Weekly: A/R & A/P Aging, Flash Reports, Payroll Reports, Revenue Updates
    • Monthly: Financial Statements, Forecasting KeyStatistics Report, Cash Flow
    • Annual: Budgets, 5-Year Plans, 5-Year Capital Plans
  • Timely interacts with Executive Committee members to assure that property operations are on track and under control at all times.
  • Monitor hotels' compliance in meeting required report deadlines and due dates and react accordingly.
  • Monitor the accurate production of the hotel daily operating report.
  • Executes other special projects and responsibilities as assigned.


Qualifications

  • At least 5 or more years of Hospitality Finance/Accounting experience.
  • Prior Controller or Director of Finance experience, preferably at a premium-branded Hotel.
  • Excellent verbal and written communication skills.
  • Bachelor's degree required preferably in Finance or Accounting.
  • Must supervise 2 or more employees
  • Must be proficient in Windows, Company approved spreadsheets and word processing and in the operation of all hotel-specific systems.

About Best Western

Best Western International, Inc. is a hotel chain with over 4,700 hotels in over 100 countries. The chain, with its corporate headquarters in Phoenix, Arizona, operates 17 brands of hotels, each suited to different market segments. Best Western has a long history dating back to 1946 when it was founded by M.K. Guertin. The company has grown to become one of the largest hotel chains in the world. Best Western is known for its commitment to providing quality accommodations and exceptional customer service. The company has won numerous awards for its hotels and its loyalty program, Best Western Rewards.
Learn more about Best Western
Size
4,381 employees
Market Cap
$45.2 million
Industry
Hospitality & Recreation
Net Income
-$2 billion
5 Year Trend
+5.3%
Revenue
$31.8 billion
NASDAQ
BEST
* Ladders Estimates

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