Asset Manager

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Job description

Butler Hospitality - Asset Manager

About Butler

Butler Hospitality works with hotel developers, owners, and operators to increase the efficiency of hotel food and beverage operations. Butler leases restaurants inside of full-service hotels, taking over front-of-house operations while transforming back-of-house space into a delivery hub for virtual room service and catering to nearby limited and select service hotels. Currently serving over 250 hotels and 40,000 keys in NYC, Chicago, Miami, Washington DC, Denver, and San Francisco, Butler will expand to ten additional markets by the end of 2022.

About the Role

As the Asset Manager within Butler, you will oversee the financial and operational performance of hotel restaurants within our growing real estate portfolio, leading performance optimization initiatives and investment strategy execution.

The Asset Manager is based in NYC, works from the Butler HQ in NoMad, and will travel extensively throughout the United States. This is not a remote position. The Asset Manager reports directly to the VP of Real Estate.

Responsibilities

• Manage the real estate component of Butler's hotel restaurant portfolio, with a focus on ensuring compliance with all aspects of restaurant leases
• Drive innovation in processes and controls for lease management systems
• Provide monthly reporting and commentary on key financial and operational performance metrics (i.e. monthly occupancy, revenue, revenue splits, etc.) of existing assets to ensure alignment with budgetary goals
• Develop understanding of market demand drivers that impact revenue performance for each market
• Apply data from company benchmarking systems to identify areas of opportunity and lead in the creation of strategies to improve operating results
• Coordinate with Brand and Operations teams to drive successful new location openings, organize weekly property status updates, and manage capital budgets and timelines for renovations/repairs
• Work with Butler's Account Management team to monitor ownership, brand partner, and customer satisfaction of Butler services across the portfolio
• Act as liaison to strengthen relationships between Butler and existing landlords/management companies

Ideal Candidate:

• Minimum five (5) years of experience in real estate acquisitions, operations, and/or asset management in retail and hospitality; hospitality start-up experience a plus.
• Strong familiarity with commercial lease structures, as well as knowledge of hotel operations.
• Ability to develop and implement asset management procedures effectively.
• Excellent problem-solving skills and ability to drive decision-making based upon available information.
• Ability to reconcile priorities and balance objectives of internal and external stakeholders, including operations, branding, and hotel management and ownership groups.
• Proven ability to succeed in a team-centered, fast-paced, and results-driven environment.
• Advanced real estate and quantitative modeling skills with a strong understanding of hotel P&L statements and balance sheets.
• Strong quantitative and technical/computer skills (including proficiency in Microsoft Excel and PowerPoint)
• Strong written and oral communication skills.
• Bachelors degree required, MBA/Master's degree preferred