Director of Asset Management in Atlanta

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Job Description

Role Summary

With more than $6.0 billion invested in travel and hospitality real estate over the past three decades, Noble brings scale, consistency, and focus to one of the most dynamic sectors of the U.S. economy. As a fiduciary for globally recognized institutional investors, including pension plans, endowments, foundations, wealth managers, and insurance companies, Noble is entrusted to preserve and compound capital across cycles. Recognized among PERE’s Top 200 Global Investment Managers and as a Best Place to Work by Pensions & Investments and the Atlanta Business Chronicle , Noble’s track record reflects enduring performance, partnership, and purpose.

Learn more at www.nobleinvestment.com.

Opportunity

Noble is seeking a Director of Asset Management to work with the asset management team and third-party managers to maximize the performance and value of our hotels and institutional real estate funds. The Director of Asset Management will lead a portfolio of select-service and extended-stay hotels based in the continental United States. The role is approximately 40% travel.

Reporting Relationships

The candidate will report to the Managing Principal and Head of Asset Management and work closely alongside a team of asset management professionals at the Noble headquarters in Atlanta, Georgia.

Duties and Responsibilities

The Director of Asset Management role will have primary responsibility for the following :

• \tAccountable for working with third-party management companies on all aspects of each hotel's performance.
• \tPerformance tracking and ongoing review of all data and documents such as STR data, revenue management data, forecast, and financial statements.
• \tPerform monthly reviews with all hotels to discuss monthly data and the strategies to improve performance.
• \tConduct regular visits to each property.
• \tAssess, develop, and implement value enhancement opportunities for each hotel.
• \tEvaluate the physical condition and anticipated capital requirements for each hotel.
• \tMaintain a thorough understanding of all factors affecting hotel markets and submarkets associated with the portfolio.
• \tTrack occupancy and average rate trends for the sub-markets / competitive sets.
• \tTrack new properties being considered for development.
• \tMonitor demand generators for significant increases / decreases.
• \tEnsure legal compliance (health codes, life safety, employment, ADA, etc.)
• \tDevelop and implement short-term, intermediate, and long-term strategies to improve the value of the portfolio.
• \tMaximize NOI through annual budgeting and business planning, financial and strategy reviews, planning and executing of capital projects, and executing agreed-upon strategies.
• \tProvide performance reporting, including trip visits, internal communication and presentations, and external communication and follow up to management groups.
• \tMonitor property and portfolio financial performance from an operational perspective.
• \tConduct monthly reviews with each property to discuss performance and strategies for improvement.
• \tReview, evaluate, and approve annually prepared business plans / budgets, including capital budgets, for each property. Provide any cost reduction and revenue enhancement guidance.
• \tWork with Noble's project development team to ensure that all capital projects are completed on time, and within budget, and evaluate all ROI projects.
• \tProvide support in underwriting and due diligence of new acquisition opportunities.

Qualifications

The desired candidate should have 7+ years of experience in Hospitality Asset Management and / or related operation or finance. A track record of success, integrity, and academic achievement, supported by the strong recommendation of industry peers, is required. Other qualifications required are :

Compensation

Total compensation will be commensurate with experience and include a base salary and bonus.

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