VICE PRESIDENT, ASSET MANAGEMENT
Chicago, IL, United States
Summary
The Opportunity
Hyatt seeks an enthusiastic Vice President to join our Asset Management group where you’ll join a team of 11 field professionals who love what they do. In this role, you will be collaborating closely with the broader Operations and Capital Strategy teams where you’ll be instrumental in continuing to make Hyatt a leading hospitality company. You will be part of a team passionate about diversity, equity, and inclusion, committed to nurturing curiosity and new skills and building connections across the organization with stakeholders, colleagues, and guests.
Who We Are
At Hyatt, we believe in the power of belonging and creating a culture of care, where our colleagues become family. Since 1957, our colleagues and guests have been at the heart of our business and helped Hyatt become one of the world's best and fastest-growing hospitality brands. Our transformative growth and the addition of new hotels, brands, and business lines can open the door for exciting career and growth opportunities for our colleagues.
As we continue to grow, we never lose sight of what’s most important: People. We turn trips into journeys, encounters into experiences, and jobs into careers.
Why Now?
This is an exciting time to be at Hyatt. We are growing rapidly and are looking for passionate changemakers to be a part of our journey. The hospitality industry is resilient and continues to offer dynamic opportunities for upward mobility, and Hyatt is no exception.
How We Care for Our People
Our purpose sets us apart—to care for people so they can be their best. Every business decision is made through the lens of our purpose, and it informs how we have and will continue to support each other as members of the Hyatt family. Our care for our colleagues is the key to our success. We’re proud to have earned a place on Fortune’s prestigious 100 Best Companies to Work For list for the last ten years. This recognition is a testament to the tremendous way our Hyatt family continues to come together to care for one another, our commitment to a culture of inclusivity, empathy, and respect, and making sure everyone feels like they belong.
We’re proud to offer exceptional corporate benefits which include:
Annual allotment of free hotel stays at Hyatt hotels globally
Flexible work schedules
Work-life benefits including well-being initiatives such as a complimentary Headspace subscription, and a discount at the on-site fitness center
A global family assistance policy with paid time off following the birth or adoption of a child as well as financial assistance for adoption
Paid Time Off, Medical, Dental, Vision, 401K with company match
Our Commitment to Diversity, Equity, and Inclusion
Our success is underpinned by our diverse, equitable, and inclusive culture and we are committed to diversity across the board—from whom we hire and develop, the organizations we support, and whom we buy from and work with.
Being part of Hyatt means always having space to be you. Our global teams are a mosaic of cultures, ethnicities, genders, ages, abilities, and identities. We constantly strive to reflect the world we care for with teams that achieve and grow together. To learn more about our commitments to DE&I, please visit the Why Hyatt section of the Hyatt career page.
Who You Are
As our ideal candidate, you understand the power and purpose of our Culture of Care and embody our core values of Empathy, Inclusion, Integrity, Experimentation, Respect, and Well-being. You enjoy working with others, are results-driven, and are looking for various opportunities to develop personally and professionally.
The Role
This position will be responsible for strategic planning and ownership oversight for hotels that are wholly owned by Hyatt. The focus is on maximizing revenue, improving efficiencies and EBITDA, and planning and implementing capital investments.
This individual will oversee and manage ~$200 - $250M of Capital Spending in our wholly owned hotels, as well as the monitoring of Capex spend in our hotels under development. They will oversee the individual that coordinates the preparation of monthly Capex cash flows, the annual Capital planning process, and the oversite of Capex spending in all wholly owned hotels and those under development.
This individual will be accountable for 10-15 wholly owned hotels that are either open-and-operation or under construction.
This individual will be the primary point of contact for Operations executives throughout the organization with respect to their portfolio of hotels for the following items:
Operating budget recommendations.
Routine capital approvals.
Oversight of specialized internal and external resources (tax, legal, insurance, etc.)
Input and process management for strategic decision making (e.g., asset repositioning, major capital expenditures, disposition, and other value optimizing strategic initiatives)
Advanced modeling to provide recommendations that support the company’s goals for growth and optimize resource efficiency for their portfolio of hotels.
Insight and analysis provided to senior management on monthly, quarterly, and annual operating results.
Periodic phone calls, or periodic in-person meetings, with the hotel General Manager and field leaders in every hotel they manage for the purpose of understanding and optimizing financial performance.
Evaluating value enhancement opportunities for their assets, supported by ROI analyses as appropriate.
Management of the real estate tax, assessment, and appeals process for their hotels.
Working with the SVP – Profitability initiatives on establishing and deploying “Best Practices” with respect to tracking and monitoring our performance.
Partnering with Capital Strategy to create an “asset strategy” for each hotel (e.g., long term hold and invest, medium term hold, short term sale, etc.)
Overseeing the acquisition process or disposition due diligence process.
Preparing Asset Management Committee memos, as necessary, for major capital expenditures.
Qualifications
Experience Required:
10-15 years of experience in hotel operations, accounting, finance, or statistical/financial analysis
Bachelor’s degree in business, Accounting, Finance or Hospitality required
Experience Preferred:
Experience with both hotel operations and corporate oversight is preferred
MBA preferred
The position responsibilities outlined above are in no way to be construed as all-encompassing. Other duties, responsibilities, and qualifications may be required and/or assigned as necessary.
We welcome you:
Research shows that women, people of color, and other historically excluded groups, tend to apply to jobs, only if they meet all the listed job qualifications. Unsure if you check every box, but feeling inspired to enhance your career? Apply. We’d love to consider your unique experiences and how you could make Hyatt even better.
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