• Actively asset-manage a portfolio hotel by regularly interacting with hotel management teams.
• Develop sales and revenue management strategies, drive improved performance, and maximize asset value.
• Review, benchmark and analyze hotel- and portfolio-level financial data and keep informed of the dynamics of each market area to develop a strong understanding of the hotels and their respective markets.
• Prepare monthly, quarterly and year-end summary reports for Board of Directors.
• Review, understand and ensure compliance of management agreements and loan documents.
• Identify, analyze and implement opportunities for increased revenues and expense savings.
• Review and manage operating budgets, capital budgets and marketing plans.
• Travel to the properties as needed to inspect the facilities, meet with management and tour the market areas and competitive set of hotels.
• Build relationships with the various hotel brands, management companies, and partners.
• Effectively interact with in-house departments including but not limited to investments/acquisitions, accounting, capital markets, and legal to ensure a consistent understanding of the performance and any potential issues of the hotels.
• Provide oversight of renovation projects to ensure projects are completed on time, within budget, and with the least amount of financial impact to the hotel.