Asset Manager (Hospitality) at Comstock

<p><strong>Job Overview</strong></p> <p>The Asset Manager, Hospitality acts as the primary representative for ownership, providing strategic oversight of third-party managed hotel assets. This role is responsible for maximizing the financial performance and long-term value of the hospitality portfolio. The individual will manage the relationship with third-party operators, lead financial underwriting for potential transactions, and coordinate joint venture relationships. By blending operational audit with high-level financial analysis, the Asset Manager ensures that each property aligns with ownership’s investment objectives and the company’s mission of delivering extraordinary experiences.</p> <p><strong>Key Responsibilities</strong></p> <p><strong>Strategic Ownership Representation (Third-Party Managed)</strong></p> <ul> <li>Act as the principal liaison between ownership and third-party hotel operators to ensure the execution of the approved business plan.</li> <li>Negotiate and monitor compliance with Hotel Management Agreements (HMAs), ensuring operators meet all contractual and financial obligations.</li> <li>Conduct monthly and quarterly performance audits, challenging operator assumptions and identifying opportunities for revenue growth or expense mitigation.</li> <li>Monitor key hospitality KPIs, including RevPAR Index, GOPPAR, and Flow-through/Retention.</li> </ul> <p><strong>Financial Stewardship &amp; Underwriting</strong></p> <ul> <li>Lead the financial analysis, reporting, and underwriting of potential hospitality transactions, acquisitions, and joint ventures.</li> <li>Review and approve annual operating budgets and monthly reforecasts.</li> <li>Perform complex sensitivity analysis, discounted cash flow (DCF) modeling, and Net Present Value (NPV) analysis for asset repositioning scenarios.</li> <li>Monitor and report on asset-level and portfolio-level performance to maximize returns for investors and JV partners.</li> </ul> <p><strong>Capital Planning &amp; Asset Preservation</strong></p> <ul> <li>Oversee the Capital Expenditure (CapEx) budget, ensuring that renovations and Property Improvement Plans (PIPs) are completed on time, within budget, and contribute to the asset’s competitive positioning.</li> <li>Coordinate with third-party vendors and internal teams on major property-level projects, including facility maintenance and landscaping standards.</li> </ul> <p><strong>Leadership &amp; JV Relations</strong></p> <ul> <li>Produce timely and accurate internal and external communications for JV partners and senior executives.</li> <li>Supervise and mentor assigned Analysts, ensuring a high level of excellence in all financial modeling and reporting deliverables.</li> <li>Manage all aspects of transaction pursuit and due diligence, including the preparation of Investment Committee materials.</li> </ul> <p><strong>Qualifications</strong></p> <ul> <li>5–10 years of experience in hospitality asset management or hotel investment analysis.</li> <li>Bachelor’s degree in Finance, Hotel Management, Real Estate, or a related field.</li> <li>Advanced skills in Microsoft Excel. Proficiency in Yardi Voyager and Argus Enterprise is required.</li> <li>Exceptional financial modeling skills with a deep understanding of hotel P&amp;Ls, benchmark reporting (STR), and valuation techniques.</li> <li>Strong leadership and negotiation skills; ability to establish strong working relationships with third-party operators and joint venture partners.</li> <li>Excellent communication and leadership skills</li> <li>Strong organizational skills and attention to detail, with the ability to manage multiple priorities simultaneously.</li> <li>Proven ability to manage competing priorities and lead support staff</li> </ul> <p><strong>Benefits</strong></p> <p>Compensation:<br>- Competitive Salary with Bonus Potential<br>- Generous Benefit Package: Medical, Dental, Vision, 401K Match, Life Insurance<br><br>Career Development<br>- Opportunities for Advancement within our expanding portfolio<br>- Annual Professional Development Funds to fuel your growth<br><br>Employee Perks (to name a few):<br>- Housing Discount<br>- Commuter Benefits<br>- Free Parking and EV charging<br>- Parental Leave Program<br>- Enjoy a Friendly Work Environment that values collaboration<br><br>Explore more perks and possibilities&nbsp;<a href="https://careers.comstock.com/benefits">here&nbsp;</a>for growing your career with Comstock Companies! Discover what sets us apart!</p>