Asset Management Associate

4 weeks ago

Philadelphia, United States Hersha Hotels & Resorts Full time

Position

Senior Analyst/Associate, Asset Management

Hersha Hotels and Resorts

Philadelphia, PA


Company Description

Hersha Hotels and Resorts, a KSL Capital portfolio company, owns and operates luxury and lifestyle hotels in urban gateway and regional resort markets. The Company’s 23 hotels totaling 3,572 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. Hersha’s portfolio consists of high RevPAR and high EBITDA growth hotels in innovation-driven gateway markets and high barrier resort locations. The company’s segmented local clusters provide immediate operational advantage and local knowledge to drive outperformance in each of its core markets. The portfolio boasts a unique combination of category-killing branded hotels and independent lifestyle hotels in the most valuable markets in the U.S. True to its owner-operator roots, Hersha meticulously monitors the Company’s operations at the property level, always pursuing opportunities to add value, increase efficiencies and drive performance. Hersha’s asset management track record includes strategic new development and capital expenditures that position the portfolio for growth. For more information, visit .


Hersha Values

  • People Are Our Capability: Each of our guests, associates, and partners are important to our continued success. Encourage personal and professional growth. Celebrate individuals and the stories they share.
  • Hearts That Serve: Revel in the art and dignity of service. Inspire each other and give back to our communities. Act humbly and treat everyone graciously.
  • Only Excellence: Pursue greatness, distinction and always seek to exceed expectations. Passion and teamwork drive our advantage. Recognize achievements large and small.
  • Stay Nimble: We are quick to embrace change and innovation. Communicate and listen to ideas openly and suggest thoughtful solutions. Find opportunities that make us bigger, better, and stronger.
  • Own It: Do the right thing – we keep our promises and act with integrity. Everyone is accountable and shares outcomes honestly and directly. We roll up our sleeves and get the job done.


Position Description

This position will gain valuable experience across many facets of the hospitality and broader real estate industry, working closely across major disciplines including, but not limited to, asset management, investments, corporate finance, and sustainability. The company prioritizes career development, gives associates ownership of projects, and allows associates strategic runway to impact stakeholders. The individual will be an integral part of a small, dynamic team and will have direct exposure to senior executives. The individual will be expected to interact with other ownership groups, third party operators, brands, brokerage firms and private equity firms as appropriate.


Reporting

This role will be located in the company’s Philadelphia office and may require travel within the United States. This position is not eligible for remote work. This role reports directly to the Senior Vice President of Asset Management.


Primary Responsibilities

  • Assist Hersha’s Asset Management Team in driving performance across a portfolio of hotels with the goal of optimizing asset value and achieving investment objectives.
  • Work in collaboration with the hotels’ executive teams and above-property leaders to review performance and business plans, assess results, and suggest revenue enhancement/cost reduction initiatives.
  • Utilize Excel to analyze property income statements, conduct benchmarking analysis and prepare other analyses to assess and maximize hotel performance.
  • Analyze and assess value creation initiatives including the development of a detailed financial model, ROI calculations and presentation materials
  • Collect market data and maintain database of all factors affecting markets and submarkets for each hotel and/or portfolio, including demographics and changes in supply and demand.
  • Provide market research in our key urban markets as well as new strategic target markets to determine local supply characteristics and demand generators.
  • Potential to support the Investment Team in underwriting hotel acquisition opportunities and information gathering for potential opportunistic disposition activity.
  • Assist with preparation of materials for senior executives and for monthly, quarterly, and ad hoc board meetings, including slide decks summarizing hotel industry trends and outlook, key portfolio updates, investment pipeline, and corporate strategy.
  • Participate in periodic on-site property reviews and market tours as appropriate. Some overnight travel may be required.


Position Requirements

  • A Bachelor’s degree in business, finance and/or hospitality.
  • 1-3 years of experience in hospitality operations, asset management, real estate, and/or consulting.
  • Passion for the travel and lodging industry and knowledge of investment principles. Experience in other aspects of lodging, hospitality and real estate finance is highly desirable.
  • Ability to analyze financial statements and related performance metrics, including hotel STR reports, balance sheets, and cash flow statements.
  • Mastery of Excel and PowerPoint.
  • Possess superior communication skills, oral and written. Analytical, self-motivated, well-organized, and results-driven professional. Ability to meet deadlines. Strong attention to detail.
  • Strong computer modeling and business writing skills.
  • Required to sit for extended periods, lift up to 10 pounds, bend, reach, use hands and fingers to operate keyboard.


Career Growth Potential

This position can grow into a role of greater responsibility and accountability within the organization, with the potential to earn full asset management responsibility for a collection of properties in the portfolio, from initial acquisition to transition/ramp up, to business plan execution, and eventual divestment.

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