Job closed
Ref: OP548-88
Job description / Role
Job Summary:
* Supports the management of the P&L and BS of hospitality and leisure assets
* Periodic reporting of hospitality and leisure asset performance
* Interface with other AMs and external parties on asset synergies and marketing
Roles and Responsibilities:
* Maintain a thorough understanding of all drivers and market trends affecting the hospitality and leisure sector:
* Receive constant updates from hospitality and leisure operators on asset performance and update Head of Hospitality and Leisure
* Ongoing monitoring, review and pooling of all research documents and source data such as hospitality and leisure databases and reports, STAR information, historical financials, management accounts, forecast P&L etc.
* Creation of reports/presentations on outlooks and trends within the hospitality and leisure sector (UAE, GCC and globally if required)Financial performance tracking and monitoring of KPIs (occupancy, ADRs, P&L, B/S), including periodic reviews with all asset operators
* Review annual budgets and other CAPEX budgets of the hospitality/leisure assets submitted by operators
* Perform in-depth financial forecasting and analysis (IRR, ROE, ROI etc.) on existing portfolio and competitor peer set to assess ongoing asset performance
* Prepare detailed P&L for each asset and consolidation of the combined assets; quarterly reporting of financial statements
* Help to develop and implement financial strategies to improve the value of the portfolio
* Create/modify financial models and feasibility studies and undertake sensitivity analysis for asset acquisitions/disposals/renovations/expansions
* Undertake financial due diligence of properties for acquisition/divestment
* Coordinate with other AMs to develop and recommend synergies between various assets
* Provide input to Director of Hospitality and Leisure on asset marketing strategy for Yas Island and future master developments, including ensuring execution of cross-portfolio tactics and initiatives
* Liaise with other AMs and hospitality and leisure asset operators on portfolio positioning and branding
Reporting Lines:
* Report to: Director of Hospitality & Leisure Asset Management
* Report From: Hospitality and leisure operators
Requirements
* Bachelor degree in hospitality/property management, engineering, business or economics
* P & L responsibility with minimum of 10 years' experience in asset manage-ment with exposure to managing multiple hotel/leisure assets with other brands/operators; hotels, services apartments, theme/amusement parks etc.
* marketing and resort/destination management
* Exceptional analytical/financial modeling skills
Interpersonal skills:
* Effective relationship management with external service providers and customers
* Effective conflict resolution / managements planning and organizational skills
* Ability to train and mentor junior colleagues
Key Performance Indicators:
* Periodic and annual growth in hospitality and leisure KPIs (occupancy, ADRs, P&L, B/S)
* Realized hospitality and leisure NOI as % of target/budgeted profits
* Revenue and NOI growth of assets versus previous year
* Annual change in values of existing hospitality and leisure assets
* Success of marketing coordination (awards, recognition in industry publications)
* Leisure and hospitality customer satisfaction (NPS or equivalent)
About the Company
The company has developed some of Abu Dhabi's most iconic and complex projects, from the Formula 1 facilities on Yas Island to the thriving new Shams Abu Dhabi community on Reem Island. Its property portfolio is diversified and balanced, with residential communities accounting for around half of assets, retail property representing a third, and the remainder split between commercial and hospitality.
With a land bank of over 77 million square metres, 90 percent of which is in special investment zones, Aldar Properties is focused on serving the growing demand in the UAE for high-quality and professionally managed property.
Aldar Properties is a strong partner of the Abu Dhabi government, which is a major shareholder. The business is aligned with the Emirates Vision 2030 strategy of economic diversification and social infrastructure development.