Manager, Hospitality Accounting

About Waterton

Waterton has grown from very humble beginnings with one phone and two desks to the successful, nationally recognized real estate investment and management firm it is today. As Waterton has evolved and grown, one thing has remained constant - the drive to achieve results by exceeding expectations.  For 25 years Waterton remains passionate about delivering an incredible Resident Experience, which we believe is made possible by offering an extraordinary experience for our talented associates.  We value performance that delivers experiences that exceed expectations, coupled with an unwavering commitment to Investor, Guest, and Resident service excellence.  Overall we are a collection of people who strive daily to “find the good and leave it better”. 

Job Summary

The Hospitality Accounting Manager will manage portfolio level accounting responsibilities for private equity hospitality real estate investments and perform portfolio level accounting functions, as needed.

Your Impact and Job Responsibilities

• Manage relationship with third party property manager’s accounting teams.
• Review monthly property operating reporting packages provided by affiliates, perform variance analysis, and approve final reports.
• Prepare portfolio financial reports, including preparation of the month end close and monthly financial statement reporting package for owner level entities (joint ventures, funds, and Corporate ownership entities), and the hospitality Corporate departments on either a fair value or historical cost GAAP basis.
• Manage monthly intercompany billing between Corporate and hospitality assets and manage processing hospitality Corporate department invoices.
• Monitor hotel and joint venture level cash and process all joint venture level cash disbursements including renovation disbursements.
• Prepare and analyze monthly property and portfolio level cash projections to determine recommendation for distributions or capital calls to and from investors. Prepare quarterly distributions and capital call notices to and from investors as needed.
• Prepare quarterly net asset value entries for the hospitality portfolio including the application of fair value based accounting rules to owner, joint venture and fund entities.
• Prepare quarterly performance returns (IRRs) for individual assets and portfolios, and update hospitality portfolio historical track record.
• Manage annual audits, coordinating efforts with affiliated and third party operators and accounting services firms. Includes preparation of the financial reports & footnote disclosures and coordinating audit inquires with services providers.
• Manage annual tax return preparation, coordinating efforts with affiliated and third party operators and accounting services firms. Review, file, and distribute annual tax returns to investors as required.
• Assist with the annual budgeting and forecasting process for the hospitality portfolio, including the preparation of portfolio level budgets and review of property operating budgets.
• Assist with the acquisition and disposition process of hospitality assets: record closing statements, review accounting requirements for loan documents, management agreements, operating agreements, etc.
• Assist affiliated and third party operators with property on-boarding and off-boarding processes for hotel acquisitions and dispositions: banking transition, accounting transition, etc. 
• Prepare required equity and lender draws.
• Prepare lender documentation requests, as needed.
• Manage weekly all accounting adjustments to hospitality renovation budgets and approval of renovation payments in coordination with the Corporate Construction & Design and Construction Accounting teams.
• Document and update policies, procedures and internal controls.
• Manage and/or participate in special projects which may involve working with multiple departments or multiple hotel locations.

What You’ll Bring- Desired Skills and Experience

• Bachelor's Degree in Accounting (preferred) or Finance, or equivalent work experience
• Minimum of five (5) years, preferably seven (7) years, of real estate accounting experience in a Hospitality environment; Fund Accounting experience is a plus
• Minimum of three (3) years, preferably five (5) years, of management experience 
• CPA or pursuit of CPA preferred 
• Proficiency in Yardi, ProfitSword, or similar property management/accounting software
• Excellent organization skills with ability to prioritize
• Proficient in Microsoft Office, to include Excel and Word
• Excellent verbal and written communication skills
• Excellent customer service skills while maintaining the highest standards of professionalism
• Ability to adapt quickly to changing circumstances
• Excellent verbal and written communication skills

How we will recognize and reward you:

At Waterton, we recognize that compensation and benefits are important not only to our associates but to their families as well. We offer a wide variety of rewards to meet everyone’s needs including:

• Competitive compensation and incentive program participation
• Full suite of benefits, including Medical, Dental, Life, Disability, and even pet insurance
• 401k match
• Generous paid time off, volunteer time off, paid holidays, and parental leave
• A commitment to life-long learning through learning plans that include internal and external trainings, as well as consideration for tuition reimbursement
• Employee discounts and wellness initiatives, like an onsite gym
• Hybrid work environment (based on business or position needs)

The typical base salary hiring range for this role is $95,000.00-$130,000.00 per year, plus bonus program participation. 

The pay range is a base pay only and does not include any additional compensation or bonuses that this position may be eligible for. The pay range is approximate and the actual pay may vary depending on related work experience, certifications, education, and other job related factors. 

Waterton welcomes all.

Waterton is an equal opportunity employer.  Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, or disability status.  

Salary : $95,000 - $130,000