Senior Asset Manager

About the position

The Senior Asset Manager will be a key member of the Asset Management team, responsible for managing a diverse portfolio of operating hotels, commercial office buildings, and residential properties primarily located in the Washington, DC area. This role involves supporting the Asset Management team in creating and executing asset-specific business plans to maximize value and manage risk. The position requires collaboration across various disciplines within the company, including property management, construction services, development, finance, accounting, and legal.

Responsibilities

• Assist in preparing and reviewing annual operating budgets.
• Review monthly financial statements and recommend revenue strategies and cost control initiatives to hotel management teams.
• Monitor monthly cash flow and partner distributions.
• Monitor revenue strategies for hotels to achieve growth in RevPAR share in the local market.
• Oversee leasing strategies for offices to meet occupancy targets.
• Organize hotel renovation programs and identify profit-improving projects.
• Prepare and maintain monthly and quarterly asset summaries, loan summaries, and ownership reports.
• Compile annual business plans and presentations.
• Assist in preparing and approving annual operating and capital budgets.
• Monitor FF&E reserve funds and major repair and maintenance projects at hotels.
• Prepare and evaluate office lease recommendations and legal documents.
• Coordinate and manage internal and external resources, including attorneys and consultants.
• Create and maintain Excel and Argus financial models for each asset from acquisition through disposition.
• Re-forecast future cash flows and narrate variances.
• Develop strong working relationships with hotel and office management teams in operations, accounting, sales, revenue management, and engineering.
• Monitor guest/tenant satisfaction metrics, brand audits, and employee opinion surveys.
• Assist Finance and Accounting teams with acquisitions, dispositions, and refinancing transactions.
• Manage fixed costs, including property tax appeals, insurance renewals, and various leases.

Requirements

• Bachelor’s degree in finance, accounting, hospitality management, or real estate.
• MBA or Master’s in Real Estate is a plus.
• 3-5 years of experience in hospitality management or commercial real estate, preferably with finance, accounting, or revenue management experience.
• Results-oriented professional with experience managing multiple projects and deadlines.
• Strong leadership skills with the ability to build relationships and manage people and processes.
• Proficiency in Microsoft Office, especially Excel.
• Strong analytical and quantitative skills.
• Experience with Argus is a plus.
• Self-motivated, detail-oriented, reliable, and flexible.
• Excellent written and verbal communication skills.
• Capacity to travel locally is needed to conduct on-site asset reviews, attend meetings, and oversee projects and initiatives.

Nice-to-haves

• MBA or Master’s in Real Estate.
• Experience with Argus.

Benefits

• 401(k) with company match
• Steady schedule — Core business hours are 9am - 6pm M-F
• Opportunity for growth within the organization