| Hospitality Finance Manager – Al Futtaim Group Real Estate | |
| Al Futtaim Group Dubai, UAE Ref: HP698-4057 |
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The RoleThe RoleAl-Futtaim Group Real Estate (AFGRE) is the real estate development and operations arm of Al-Futtaim group which is headquartered in Dubai. AFGRE is responsible for the origination, conception, development, procurement and construction of mega projects and the leasing, sales and operation of these projects after completion. In addition, AFGRE develops and operates an extensive multi-million dollar portfolio of individual corporate real estate and investment assets across the MENA region. The two current flagship mixed use urban communities under the Festival City brand are the award winning, Dubai Festival City (5.2 million square metres) and Cairo Festival City (3 million square metres). A key component of the business development of a Festival City is the hospitality offering. To build and incorporate a luxury hotels product is an integral part of any Festival City. The offerings may include a 5 Star hotel product as well as an extended stay residence suites. Dubai Festival City currently include the following components in their hospitality offerings with more projects being talked about for the future: * Intercontinental Hotel, 498 room and suites. Managed by Intercontinental Hotels Group. * Crowne Plaza, 316 room and suites, Managed by Intercontinental Hotels Group. * Intercontinental Residence Suites, 212 suites made of one, two and three bedrooms suites. Managed by Intercontinental Hotels Group. * Al Badia Golf Club, a spectacular 18 holes Golf Course with Iconic Club House. Managed also by Intercontinental Hotels Group.   The responsibility of the Hospitality function within the organization of Al Futtaim Group Real Estate is mainly focused on Asset Management and new projects Hospitality Development. The Asset Management function is responsible for managing existing assets in conjunction with the operator to achieve the strategic goals as set by the owner and improve performance/ profitability. The development function is to work on the development of new assets and ensure that we do plan new development with a lot of due care to local market conditions. We are currently recruiting for a Finance Manager to be based in our Dubai operation. Reporting to the Director of hospitality, you will be responsible for providing timely financial analysis and performance evaluation across the hospitality division. This includes monthly financial statements, budgets, forecasts and monthly variance analysis. You shall also ensure that the Accounting Policies of Al Futtaim are upheld and that all reporting is in accordance with International Financial Reporting Standards. Your key responsibilities will include: Expense Control: Review the payment above 50k, PARs, capital expenditure while ensuring proposed payments are cheaper and as per DOA and perform cost benefit analysis thereby achieving lower operating expenditures. Control of Capital Expenditures: Review FF&E expenses, inventory and asset registry to implement all necessary controls to safeguard hotel assets and ensuring assets are procured at a competitive price. Financial Reporting: Comprehensive analysis of monthly financial statements and ensuring financials are reported as per Uniform of System of Accounts to perform ratio analysis as to achieve higher profitability ratios. Perform monthly credit review analysis. Executive Reporting: Provide financial information to management as tools for maximizing profits, planning for the future and for effective and efficient decision making. Budgeting & Forecasting: Detailed analysis of budgets to ensure reliability of the key assumptions. Control and monitoring of operating budget, investigating variances where necessary. Responsible for quarterly forecasting recommending upward or downward adjustments to the budget in light of market conditions and business requirements. Relationship: Establish healthy and working relationship with IHG finance and admin staff and other stake holders to ensure good flow of information and reports thereby achieving business objectives. |
RequirementsRequirementsThe successful candidate must have an extensive working knowledge of financial management and Accounting systems and must have a minimum qualification of CA/CPA/CIMA/ACCA/CFA. You will have at least 7 years of experience in Financial and Management accounting, preferably with experience in hotel / hospitality accounting (either directly or as consultant/auditor), business development and process improvement. It is essential that you have an extensive knowledge of SAP Financial package and/or other ERP and it is preferred that you have experience with discounted cash flow valuations/purchase price allocation. |
About the CompanyAbout the CompanyEstablished in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt. The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Group’s continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery. The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Group’s belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility. |
This Position is closed or expired
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