• Job Description

  Req#: 451bbd55-a1c3-46f6-9e5d-903f63582c86

  Position Title: Portfolio Asset and Purchasing Manager
  

  Labor Category: Exempt
  

  Position Type: Full Time

  
  

  SCOPE OF WORK

  Under general supervision, the Portfolio Asset and Purchasing Manager provides an overview and detailed analysis of the A&R Group's portfolio by evaluating, commenting, and providing feedback on all revenue and expenses allocated by the different departments, outlets, and segments. The Portfolio Asset and Purchasing Manager also manages the purchasing program and process that aligns with A&R Hospitality’s business strategies and objectives . The Manager will be responsible for identifying ways to maximize revenue generated by the additional services, create efficiency and other expense reduction measures, and provide strategic oversight of purchasing processes while ensuring the profitability for each of the portfolio assets . The Manager will provide a high level of accountability to the management and leadership through budget review and commentary, enhance overall purchasing processes, streamline property purchasing programs, work thoroughly with our purchasing partners to ensure the best value, ultimately ensuring balance and alignment between ownership and management.

  
  

  RESPONSIBILITIES

  
  

  Portfolio Asset Management:
  

  • Monitor the financial performance of each property at a granular, line-item level, using performance metrics, benchmarking results against property and portfolio trends, and cross-referencing them with brand and industry norms and Key Performance Indicators (KPI’s).
  • Analyze and react to weekly and monthly Smith Travel Research reports.
  • Devise, implement and oversee regular data analysis and other KPI reports.
  • Review and analyze annual hotel budgets and business plans and prepare recommendations for leadership and ownership.
  • Participate in portfolio asset strategic business plan creation and update as required by the president of A&R Development, or as market circumstances dictate, including recommendations for financial planning, capital expenditures, rebranding, expansion, operations, disposition strategies, etc.
  • Assume a leadership role in developing short-term and long-term portfolio asset-level capital deployment strategies and identify value enhancement opportunities for each individual portfolio asset.
  • Participate in the annual and long-term Capital Expenditure budgeting process concerning reserve funding forecasting and adequacy.
  • Review asset positioning and make comparisons to market competitors and other comparable set benchmarks.
  • Be intimately familiar with all franchise and management agreements for each individual portfolio asset.
  • Establish and maintain effective working relationships with operations staff of the other Strategic Business Units (SPUs) owned and operated by the A&R Group of companies.
  • Maintain a thorough understanding of all factors affecting markets and submarkets associated with the portfolio assets.
  • Participate in initiatives and assignments as directed by A&R initiatives.
  • Prepare and perform monthly reviews with other SBUs to discuss performance and strategies for improvement.
  • Review, evaluate and approve annually prepared strategic business plans and operating budgets, including capital budgets, for each portfolio asset property, and offer any cost reduction and revenue enhancement guidance.
  • Coordinate and ensure that all capital projects for each portfolio asset are completed on time and within budget, and thereafter, evaluate the Return on Investment for each such capital investment.
  • Provide internal reporting for use by all levels of management and ensure timely regulatory reporting.
  • Assist in acquisitions and disposition of portfolio assets and special projects such as refinancing, brand and management changes, and hotel license renewals.
  • Provide support in underwriting and due diligence of new acquisition opportunities.
  • Ensure alignment between teams.
  • Consistently strive for improvement in both team and self.

  • Other duties as assigned.

  
  

  Purchasing Management:

  • Consult and collaborate with relevant stakeholders to clearly define requirements and execute on purchasing objectives.
  • Coach core team leaders and sponsors, establishing and coordinating responsibilities and procedures among collaborating disciplines to drive the development and launch of the purchasing processes.
  • Design and coordinate field communication with various disciplines regarding purchasing.
  • Manage all aspects of the purchasing program for A&R Group, Hospitality Division.
  • Verify purchase requisitions and prepare purchase orders.
  • Build and maintain relationships with vendors.
  • Assist the facilities department with obtaining bids for upcoming projects.
  • Proactively identify areas of opportunity within the centralized purchasing functions, and create, implement, and execute solutions.
  • Acts as the company representative in negotiating prices and contracts with vendors.
  • Oversee the maintenance of procurement records and files associated with the centralized procurement activity.
    

  
  

  QUALIFICATIONS
  

  • Minimum of five (5) years of asset management experience.
  • Prior hotel knowledge is required.
  • Possess expertise in hotel revenue management, budgeting, and financial analysis.
  • Command a detailed understanding of hotel operations.
  • Prior experience with M3 Accounting Software is a PLUS
  • Exhibits strong financial acumen needed to be a successful P&L executive.
  • Able to identify and mark trends and adjust business strategy accordingly.
  • Be dependable to meet a heavy workload.
  • Illustrate multitasking and analytical skills.
  • Negotiation skills.
  • Research and analytical skills.
  • Possess attention to detail, confidentiality, integrity, and the ability to maintain a high level of professionalism in a fast-paced, dynamic environment.
  • Must possess attention to detail, confidentiality, integrity, and the ability to maintain a high level of professionalism in a fast-paced, dynamic environment.
  • Excellent interpersonal and communication skills, with the ability to interact effectively with employees at all levels.
  • Strong organizational skills, attention to detail, and the ability to manage multiple priorities.
  • Ability to prioritize and manage multiple projects to reach specific deadlines.
  • Critical thinking and problem-solving skills.
  • Possess a natural high degree of Emotional Intelligence (EQ) along with self-awareness, social adeptness, self-confidence, discipline, and strong relationship management skills.
  • Exhibits great poise in difficult or stressful situations.
  • Cultivates an environment of readiness and alertness.

  • Projects a positive company image to the public.

  
  

  WORKING CONDITIONS

  • Regularly required to operate a variety of automated office machines which includes a computer, printer, facsimile machine, copy machine, calculator, telephone, etc.

  • Must be able to use body members to work, move or carry objects or materials.

  • Must be able to exert up to twenty pounds of force occasionally and up to ten pounds of force frequently.

  • Physical demand requirements are at levels of those for sedentary work.

  • Regularly required to use written and oral communication skills; read and interpret data, information and documents; analyze and solve problems; use math and mathematical reasoning; observe and interpret situations; learn and apply new information or skills; and interact with staff, other organizations and the public.

  • Must be able to travel to properties as needed

  
  

  A&R Group provides equal employment opportunities to all employees and applicants for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing, or service in the military. Equal employment opportunity applies to all terms and conditions of employment, including hiring, placement, promotion, termination, layoff, recall, transfer, leave of absence, compensation, and training.

  To ensure equal employment opportunities to qualified individuals with a disability, A&R Group will make reasonable accommodations for the known disability of an otherwise qualified individual, unless undue hardship on the operation of the business would result. Employees who may require a reasonable accommodation should contact the Human Resources Department to begin the ADA interactive process.

  The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, and skills required for the job.

• About the company

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