What are the responsibilities and job description for the Manager, Hospitality Finance position at Adventurous Journeys LLC?
Department : Accounting and Finance
Reports to : Principal, Hospitality Finance
Location : Chicago, IL
This role will be performed onsite in the Chicago office.
Adventurous Journeys Capital Partners ("AJCP") is seeking a Manager, Hospitality Finance to join the firm's real estate finance and accounting team, which includes a joint venture collaboration with industry-leading Schulte Hospitality Group ("SHG"), and support AJCP's and SHG's rapid growth across multiple investment platforms, including Graduate by Hilton® Hotels and Marine & Lawn Hotels and Resorts®.
ABOUT AJCP
Adventurous Journeys ("AJCP") Capital Partners is a vertically integrated real estate investment manager founded in 2008. The firm repositions real estate to build timeless, scalable businesses and brand platforms. We deliver returns on transformative real estate by applying placemaking, inspired design, and hospitality principles to spaces overlooked or undervalued by traditional investment firms. The firm's current portfolio includes $5.3 billion of assets across 100 properties and 50 geographic markets. With a mission to humanize hospitality through handcrafted projects made by people for people, AJCP delivers spaces that evoke emotional connections and become backdrops for enriching life experiences. Our headquarters are in Nashville, with offices in Chicago, London, Miami, New York, San Francisco, and New Orleans. For more information on AJCP, please visit www.ajcpt.com .
ABOUT THE ROLE
The Manager, Hospitality Finance will be responsible for financial reporting and analysis and will contribute to the ultimate operational and financial success of multiple hospitality assets across AJCP's portfolio of investments, including Graduate by Hilton® Hotels, Marine & Lawn Hotels & Resorts, and additional platforms as the firm scales. This role will have an operational focus but also require in-depth technical knowledge of hotel and real estate fund accounting concepts. From this seat, the Manager, Hospitality Finance will lead a team of four, fully dedicated accountants at our outsourced accounting partner plus an internal financial analyst. He or she will also work closely with members of the AJ Investments and Capital Markets teams, and the SHG accounting team, to ensure our financial reporting can drive operating performance and bottom-line growth.
WHAT YOU WILL DO
Financial Reporting Responsibilities
- Work in close partnership with the entire SHG team to ensure the accurate and timely reporting of financial information for a portfolio of 40 hotels across the Graduate by Hilton® and Marine & Lawn Hotels & Resorts® platforms.
- Review monthly reporting packages (trial balance, balance sheet, and income statements) prepared by SHG staff accountants for the hotels (OpCos) to ensure books and records are kept in accordance with U.S. GAAP and USALI. Specific tasks include, but are not limited to, the following :
- Review bank and balance sheet reconciliations for completeness and accuracy
- Maintain the reconciliation between the respective property-level intercompany balance sheet accounts (due to / from Owner)
- Perform cash analysis and calculate cash available for intercompany REIT rent payments
- Review accruals to ensure completeness and accuracy
- Review tenant lease income to ensure agreement with the rent roll and monitor A / R for outstanding rent payments. Update budgets and forecasts for changes in the tenant lease rent roll
- Manage the budgeting, forecasting, and record the expense recognition for ground and building leases
- Review management and franchise fee calculations
- Conduct flux analysis on both balance sheet and income statement accounts to identify significant variances or trends
- Manage SHG corporate overhead allocations and intercompany accounts (leveraging our outsourced accounting partner). Specific tasks include, but are not limited to the following :
- Voucher and approve shared / allocated corporate invoices to individual hotels
- Reconcile the books for the SHG intercompany allocation entity (AJ9999), which allocates corporate and / or shared costs amongst AJCP properties.
- Reconcile intercompany payable accounts between the corporate allocation entity, hotels, and owner accounts.
- Manage intercompany receivables between Highgate-managed properties and the M&L portfolio recorded in AJ9999.
- Preparing invoices and supporting documentation.
- Applying payments against the receivable
- Following up on outstanding invoices
- Prepare reporting packages for lenders and ensure timely delivery of required reports on a monthly, quarterly, and annual basis; coordinate any follow-up questions from outside parties on external reporting or investment performance
- Assist with the annual audit and tax reporting and compliance processes as needed
Operational / Investment Management Responsibilities
Other Responsibilities
Requirements
WHO YOU ARE
AJCP is seeking a highly motivated individual who enjoys working in a fast-paced, but disciplined, entrepreneurial environment. The ideal candidate will have extensive experience with hotel and real estate accounting and finance concepts, including experience working for a private equity firm or investment advisor with significant hospitality exposure. The ideal candidate will know how to turn insights into action by providing teams with clear, useful, and timely financial reporting and analysis to drive growth. This role also requires the following capabilities :
YOUR QUALIFICATIONS
Required
Preferred
Equal Employment Opportunity :
AJCP is an equal employment opportunity employer and complies with all applicable laws prohibiting discrimination based on an individual's race, color, religion, religious creed, national origin, ancestry, citizenship, physical or mental disability, medical condition, genetic information, marital status, reproductive health decision-making, sex, gender, age, sexual orientation, veteran and / or military status, protected medical leaves, domestic violence victim status, political affiliation, or any other status protected by federal, state, or local laws. AJCP is dedicated to the fulfillment of this policy in regard to all aspects of employment, including, but not limited to, recruiting, hiring, placement, transfer, training, promotion, rates of pay, other compensation, termination, and all other terms, conditions, and privileges of employment.
