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Form of work
SalaryCompany Overview
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 212 existing properties, Lightstone’s over $7.5 billion portfolio currently includes over 12.5 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,300 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
Position Overview
The Senior Analyst/Associate reports into the Vice President, Hospitality Asset Management and assists in all aspects of property-level operating activities and strategies for the Company’s Moxy/AC Portfolio, which include 2,700 hotel room keys and 38 food & beverage venues across 8 properties in New York City, Miami and Los Angeles. Moxy operates in partnership with leading hospitality operators including, TAO Group and Houston Hospitality.
Responsibilities include financial review and reporting, revenue management, budget preparation, and assisting with oversight of third-party property management firms. The ideal candidate has experience in hotel operations and/or hotel Asset Management, strong analytical skills, ability to decipher financial data to effectively review and evaluate operational and investment opportunities. Required to have the ability to assess and help drive the performance of hotels in Lightstone’s portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Some travel is required.
Essential Functions
- Review and analyze monthly financial and income statements, prepare benchmarking and/or other analyses related to maximizing revenues and minimizing expenses that lead to strategies to improve asset performance and value.
- Review and work with hotel operator revenue managers to ensure the portfolio hotels’ yield efforts are maximized, including but not limited to:
o Reviewing revenue potential
o Ensuring proactive and accurate management of all revenue management systems
o Confirming all segments and distribution channels are mined for revenue opportunities
o Validating all data required for effective revenue management
- Analyze and monitor the financial performance of properties, which entails:
o Maintaining financial models
o Analyzing for all potential cost savings; tracking implementation of initiatives
o Produce ad-hoc analyses to evaluate the performance of assets and drive decision-making
o Collect market data and conduct benchmarking analysis
o Regularly track and analyze factors affecting markets and submarkets associated with the portfolio, including demographics and changes in supply and demand.
- Coordinate and support in annual budget and underwriting process
- Prepare regular presentations for Executive Team and outside counterparties
- Collect market data and develop tools to assist in the determination of threats and opportunities facing the portfolio
- Analyze financial models to evaluate investment returns on proposed capital projects and acquisitions.
- Assist with Asset Management of portfolio, including periodic property visits and interfacing with third-party management companies, project managers, brand representatives, and other third-party vendors/resources.
o Participate in hotel site visits and market tours to obtain firsthand knowledge of our hotels, competition and demand generators.
Qualifications
- Minimum 2 (ideal 3-6) years related Analyst experience
- BA or BS degree
- Familiarization of hotel operations, sales, and revenue management concepts and tools preferred
- Demonstrated aptitude for problem solving and problem identification
- Ability to collect, analyze and interpret operations and revenue performance data
- Must effectively manage and adhere to deadlines
- Extensive proficiency in Excel, Word, and PowerPoint required and ability to manipulate data essential
- Attention to detail required
- Ability to operate in a team environment
- Excellent written and verbal communication skills
- Excellent interpersonal skills and demonstrated professionalism
- Ability to manage multiple tasks
