What are the responsibilities and job description for the Sr. Asset Manager (VP), Hospitality position at The Church of Jesus Christ of Latter-day Saints?
Job Description
The Sr. Asset Manager for the Hotel Portfolio is responsible for overseeing and optimizing the performance of a portfolio of hotel assets. This role involves strategic planning, financial oversight, and collaboration with property management teams to achieve and exceed investment goals. The Sr. Asset Manager will serve as a critical liaison between ownership and on-site operations, driving value creation and operational excellence.
At Property Reserve, our people, values, and work come together to build something greater. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. In the spirit of time-tested self-reliance principles, Property Reserve creates sustainable cash flow for future needs.
As caretakers of sacred funds, we invest in income-generating properties and land to support the Church’s mission. Our focus is on the acquisition, build-to-hold development, and portfolio-level management of office, industrial, multi-family, build-to-rent, hospitality, and retail properties.
Property Reserve provides a diverse range of investment experiences, interacting with a seasoned leadership team. Working in a highly collaborative environment, each Property Reserve team member has the chance to contribute meaningfully and frequently to the company culture. Headquartered in downtown Salt Lake City, we offer a locale with a unique blend of world-class outdoor recreation, a thriving culture & arts scene, and diverse housing options with convenient commutes.
Responsibilities
Portfolio Management:
About Us
Church employees find joy and satisfaction in using their unique talents and abilities to further the Lord’s work. From the IT professional who develops an app that sends the gospel message worldwide, to the facilities manager who maintains our buildings— giving Church members places to worship, teach, learn, and receive sacred ordinances—our employees seek innovative ways to share the gospel of Jesus Christ with the world. They are literally working in His kingdom.
Only members of the Church who are worthy of a temple recommend qualify for employment. Apart from this, the Church is an equal opportunity employer and does not discriminate in its employment decisions on any basis that would violate U.S. or local law.
Qualified applicants will be considered for employment without regard to race, national origin, color, gender, pregnancy, marital status, age, disability, genetic information, veteran status, or other legally protected categories that apply to the Church. The Church will make reasonable accommodations for qualified individuals with known disabilities.
The Sr. Asset Manager for the Hotel Portfolio is responsible for overseeing and optimizing the performance of a portfolio of hotel assets. This role involves strategic planning, financial oversight, and collaboration with property management teams to achieve and exceed investment goals. The Sr. Asset Manager will serve as a critical liaison between ownership and on-site operations, driving value creation and operational excellence.
At Property Reserve, our people, values, and work come together to build something greater. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. In the spirit of time-tested self-reliance principles, Property Reserve creates sustainable cash flow for future needs.
As caretakers of sacred funds, we invest in income-generating properties and land to support the Church’s mission. Our focus is on the acquisition, build-to-hold development, and portfolio-level management of office, industrial, multi-family, build-to-rent, hospitality, and retail properties.
Property Reserve provides a diverse range of investment experiences, interacting with a seasoned leadership team. Working in a highly collaborative environment, each Property Reserve team member has the chance to contribute meaningfully and frequently to the company culture. Headquartered in downtown Salt Lake City, we offer a locale with a unique blend of world-class outdoor recreation, a thriving culture & arts scene, and diverse housing options with convenient commutes.
Responsibilities
Portfolio Management:
- Actively manage a portfolio of hotels by engaging with hotel management teams to monitor performance and ensure alignment with asset goals.
- Develop and execute asset management strategies to maximize asset value and achieve investment objectives.
- Conduct property site visits to evaluate operations, assess capital needs, and refine asset-level strategies.
- Monitor key performance indicators (KPIs), including RevPAR, occupancy rates, ADR, GOP, and NOI.
- Analyze financial statements, budgets, and forecasts to identify trends and opportunities for improvement.
- Prepare financial valuations, cash flow models, and ROI analyses to support strategic decisions and business plans.
- Ensure accurate monthly financial reporting and evaluate variances from budgets and forecasts.
- Develop and execute business plans for each asset, identifying opportunities for revenue growth and cost efficiency.
- Evaluate and justify capital expenditures, ensuring alignment with long-term asset goals.
- Evaluate management performance of third-party operators and brand/franchise partners.
- Provide strategic recommendations to improve service quality and operational efficiency.
- Conduct regular site visits to monitor operations, identify challenges, and ensure alignment with brand standards.
- Maintain current knowledge of market demographics, demand generators, supply/demand dynamics, and competitive positioning.
- Incorporate market insights into revenue strategies and asset repositioning plans.
- Manage relationships with third-party operators, brand/franchise representatives, and other service providers.
- Recommend strategies to optimize asset utilization and, when necessary, identify potential disposition opportunities.
- Present performance updates and recommendations to executives and investors.
- Maintain a centralized system for contracts, management reports, financial documentation, and other critical materials.
- Ensure the organization follows approved policies and procedures.
- Membership:Member of the Church of Jesus Christ of Latter-day Saints and currently temple worthy.
- Education: Bachelor’s degree in Real Estate, Finance, Hospitality Management, or a related field (Master’s degree preferred).
- Experience:
- Minimum of 8 years of experience in hotel asset management, hospitality operations, or related fields.
- Demonstrated track record of improving hotel performance and maximizing asset value.
- Strategic Thinking: Ability to design and execute long-term strategies to maximize value.
- Financial Acumen: Expertise in financial modeling, ROI assessments, and understanding hospitality-specific metrics.
- Analytical Problem-Solving: Skill in interpreting complex financial and operational data to inform decision-making.
- Market Awareness: Knowledge of market trends, demand drivers, and competitive positioning.
- Negotiation and Influence: Proven ability to manage and align third-party operators and stakeholders with ownership objectives.
- Operational Expertise: Understanding of hotel operations and brand standards to provide guidance and oversight.
- Communication and Presentation Skills: Excellence in delivering clear and impactful presentations and reports.
- Relationship Management: Building and maintaining effective partnerships with stakeholders, including property managers and brand representatives.
- Preferred Certifications:
- CHAM (Certified Hotel Asset Manager)
- CFA (Chartered Financial Analyst)
- Travel Requirements:Ability to travel regularly for site visits and meetings with stakeholders.
About Us
Church employees find joy and satisfaction in using their unique talents and abilities to further the Lord’s work. From the IT professional who develops an app that sends the gospel message worldwide, to the facilities manager who maintains our buildings— giving Church members places to worship, teach, learn, and receive sacred ordinances—our employees seek innovative ways to share the gospel of Jesus Christ with the world. They are literally working in His kingdom.
Only members of the Church who are worthy of a temple recommend qualify for employment. Apart from this, the Church is an equal opportunity employer and does not discriminate in its employment decisions on any basis that would violate U.S. or local law.
Qualified applicants will be considered for employment without regard to race, national origin, color, gender, pregnancy, marital status, age, disability, genetic information, veteran status, or other legally protected categories that apply to the Church. The Church will make reasonable accommodations for qualified individuals with known disabilities.
