Hospitality Asset Manager

Company Description

Singerman Real Estate, LLC, is a Chicago-based opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies.  Since its inception in 2010, SRE has sourced and executed, with partners, over $1.5 billion of investments across all major property classes. SRE is currently investing on behalf of SRE Opportunity Fund III, L.P., a $500 million fully discretionary fund capitalized by institutional investors as well as an associated discretionary co-investment vehicle. With less than 20 total team members, SRE is a well-regarded institutional firm providing strong growth potential.

Our office is seeking an individual to join our growing Asset Management team. The successful candidate will be a self-starter, who is highly collaborative, analytical and has a strong interest in real estate. This position will be primarily responsible for supporting SRE’s hospitality portfolio, which consists of resort, full-service and limited-service assets. In addition, the position will support other complementary asset classes with similar operating characteristics. The position holder will be responsible for assessing the current and projected performance of properties while supporting all asset management duties such as analysis, tracking and reporting.

The responsibilities the role includes, but is not limited to:

• Supporting the implementation of asset management strategies for a diverse portfolio of hospitality assets, including income and expense forecasting, capital budgeting, value creation activities and risk-return analysis for assets
• Perform monthly budget and variance analysis review to support asset-level decision-making
• Perform weekly and monthly review of Smith Travel Accommodations Reports (STARs)
• Participate in weekly revenue and management calls
• Compile and submit property loan compliance reporting and loan draws
• Review of third-party contracts
• Monitor and track costs and timeline for capital expenditures
• Provide distribution and contribution analysis with recommendations for appropriate working capital and funding levels at each property
• Assist Manager of Portfolio Reporting in reviewing and compiling required periodic reporting for portfolio, including for quarterly asset management meeting with executive team
• Develop inputs and complete financial model updates required for quarterly valuation of each asset
• Review and provide insights to annual operating budgets, capital budgets and marketing plans for each asset
• Collaborate with property teams and operating partners on budget revisions
• Support underwriting team on an ad hoc basis for acquisitions similar to existing portfolio assets

We are seeking an individual who meets the following criteria:

• 3-7 years of experience in hospitality operations and/or asset management is strongly preferred
• Bachelor’s Degree in real estate, business, finance, or accounting strongly preferred
• Confident communicator with a high level of maturity and the presence necessary to interact with senior management, as well as, joint venture or operating partners  
• Well-organized, detail oriented and deadline driven
• Driven, entrepreneurial, and results-oriented
• Excellent financial modeling skills and strong proficiency in Excel, Word and PowerPoint
• Enjoys working in a dynamic and collaborative team environment

Compensation

• Competitive with market based on experience