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Area Director of Finance

Company: Highgate Hotels L.P.
Location: Bethesda
Posted on: September 12, 2020

Job Description:

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Highgate is a premier real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco and Honolulu. Highgate also has a key presence in Barcelona. Highgate’s portfolio of global properties represents an aggregate asset value exceeding $10B and generates over $2B in cumulative revenues. The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Highgate also has the creativity and bandwidth to develop bespoke hotel brands and utilizes industry leading proprietary revenue management tools that identify and predict evolving market dynamics to drive out performance and maximize asset value. With an executive team consisting of some of the industry’s most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in London, New York, Dallas, and Seattle.

Location Hyatt Regency Bethesda is an iconic hotel located in the heart of downtown Bethesda. Nestled above the Bethesda Metro Red Line, the hotel offers easy access to Washington DC’s famous museums, monuments and zoo and is only minutes from Bethesda Row, which offers unlimited shopping, dining, and entertainment. The Hotel offers 393 modern guestrooms with upscale amenities.

Employment Status Full-Time

Overview The Area Director of Finance is responsible for providing consistent leadership in the financial area of the hotels assigned to them by focusing on the profitability of the business; maintaining accurate and timely financial reporting; ensuring acceptable levels of internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels ‘s Standard Operating Procedures; and safeguarding owners/investors assets. The Area Director of Finance will be based out of the Hyatt Regency Bethesda and expected to travel as needed to other Highgate hotels in the DMV area.

Responsibilities Effectively manage and communicate cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds.

Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines. Monitors and controls Hotel’s cash flow and operating forecast.

Creates annual budgets and monthly variance analysis. Investigates and critiques variances to budget or to prior year and offer practical improvement methodologies to management.

Ensure hotels’ compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Provide assistance to management in enforcing compliance on all these items.

Analyze financial data and operations in order to assist and advise management in maintaining the hotels’ financial objectives.

Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations

Timely reviews and approval of all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations.

Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records.

Successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis.

Hire, train, supervise and develop staff, including coaching, counseling and discipline.

Maintain compliance with Highgate Hotels’ standards and regulations to ensure safe and efficient operation of the hotel.

Directs or prepares all financial reports in accordance with Highgate Hotels’ requirements, meeting various due dates and deadlines, i.e:

Annual: Budgets, 5-Year Plans, 5-Year Capital Plans

Timely interacts with Executive Committee members to assure that property operations are on track and under control at all times.

Monitor hotels’ compliance in meeting required report deadlines and due dates and react accordingly.

Monitor the accurate production of the hotel daily operating report.

Executes other special projects and responsibilities as assigned.

Qualifications At least 5 or more years of Hospitality Finance/Accounting experience.

Prior Controller or Director of Finance experience, preferably at a premium-branded hotel.

Experience overseeing mutiple hotels at one time.

Excellent verbal and written communication skills.

Bachelor’s degree required preferably in Finance or Accounting.

Must supervise multiple employees.

Must be proficient in Windows, Company approved spreadsheets and word processing and in the operation of all hotel-specific systems.

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Keywords: Highgate Hotels L.P., Bethesda , Area Director of Finance, Other , Bethesda, Maryland

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