Senior Manager - Dubai, United Arab Emirates - The First Group

Description

Overview

Headquartered in Dubai, UAE, The First Group is a dynamic, integrated global property developer with a fast-growing portfolio of upscale hotels, residential properties, F&B brands and real estate asset management services. Since our launch in 2005, we have carved a highly successful niche offering unrivalled property investment opportunities in high-growth markets to clients from more than 70 countries worldwide.

We were among the first developers to identify the tremendous potential in providing private investors the opportunity to purchase hotel guestrooms, suites and serviced apartments in our collection of upscale properties located in highly popular locations across Dubai. We back up our success with a list of International Property awards along with strategic partnerships with companies such as Wyndham Hotel group, Millennium Hotels, Emirates Airlines and Jumeirah Hotels and Resorts.

To successful candidates, we offer a diverse progressive corporate working environment with clear growth potential along with award winning sales & marketing tools, a state of the art showroom featuring Dubai's only virtual helicopter tour and endorsements from a number of international sporting celebrities.

Job Description

The Senior / Asset Manager (Revenue) – Hotel Asset Management is responsible for a portfolio of hotels to create asset value through the execution of an investment strategy with a profound focus on revenue management. The candidate will support the revenue management function for the asset management department by providing strategic guidance to support hotels and ensuring room revenue is maximized through effective pricing and inventory management. The candidate will act as an Owner Rep and represent the asset manager's interest in revenue management at the property level by assessing the strategies proposed by each hotel and by monitoring the execution. The role also involves the implementation of ad-hoc projects, subject to each property and the company's requirements.

Revenue Management  

• Design and control a continuous pro-active, selling strategy and action plan, which will drive the optimization of hotel profits.
• Thorough understanding of all factors affecting markets and submarkets and the impact on the portfolio including a strong understanding of demand generators, revenue management, sales process, and yield strategies to maximize top-line performance.
• Prepare and deliver standard market and operations reports weekly, monthly, and quarterly and ensure they are accurate and done timely.
• Maintain current information on demographics; changes in demand and supply, and all markets that impact the performance and positioning of the hotels.
• Support hospitality assets yield efforts, via analysis and reporting that ensure that all segments and distribution channels are mined for revenue opportunities based on budget, forecast, pace, and market demand.
• Understand market dynamics and monitor competitor pricing to grow revenue.
• Review generated revenue forecasts for all assets and challenge property revenue team.
• Understand, investigate, and extract data from any relevant system needed for problem-solving and analysis.
• Collaborate with the hotel revenue management team to ensure aligned direction.
• Ensure revenue growth and achievement of budgeted targets in RevPAR and RGI market penetration.
• Assess strategy for all 3^rd party distribution.
• Provide a weekly BOB analysis, dynamic forecast of expected results, variances, and budget comparisons analysis with recommendations to improve strategies.
• Prepare and deliver standard market and operations reports weekly, monthly, and quarterly and ensure they are accurate and done timely.
• Evaluate the performance of distribution partners and contracted rates.
• Conduct monthly property business performance reviews to develop an action plan.
• Prepare necessary data required for the asset management team to review operator yearly budgets.
• Review and critique operator yearly revenue budgets.

Asset Management

• Review and analyze reporting and operating budgets.
• Conclude review on ongoing and detailed loss and profit statement reports on assigned assets.
• Demonstrated ability to act as an owner daily to achieve each investment's goals.
• Lead and execute the investment strategy and take ownership of how to best execute that strategy.
• Review and manage operating budgets, capital budgets, and marketing plans.
• Drive operating partners and hold them accountable in efforts to maximize profitability.
• Identify and execute value enhancement opportunities.
• Develop and lead capital improvement projects that provide attractive returns on investment.
• Identify risks to the portfolio and lead efforts to mitigate such risks.
• Regular property visits to proactively manage and facilitate strategy execution.
• Keep informed of hotel industry trends and how such trends may impact the company's portfolio of hotels.
• Perform revenue projections, financial forecasts, and due diligence for potential acquisitions.

Desired Skill & Expertise

 Qualifications:

• Current experience in a senior revenue management position with responsibility for multiple properties. Experience in asset management is a plus.
• Strong Revenue Management experience (6+ years).
• Strong data analytics, reporting, and digitally capable professional.
• Ability to manage multiple team members.
• Exceptional negotiation skills.
• Strong team player who collaborates well with all TFG constituents.
• Exposure to 4-star and 5-star properties.
• Experience with large inventory properties.
• UAE work experience and Dubai market exposure is a must.

Desired Skill & Expertise

• Proven and strong analytical and technical skills with high proficiency in Excel and other Microsoft Office programs.
• Strong knowledge of market dynamics and hotel technology including Revenue Management Systems, Hotel Reservation Systems, and Distribution Systems.
• General understanding of hotel operations, the lodging industry, real estate markets, trends, and the important metrics that define them.
• Possess practical experience in the revenue management function and exposure to the GCC markets.
• Must possess very good written and verbal communication skills as well as can produce quality reports.
• Excellent individual initiative and objective-oriented drive with a strong propensity for attention to detail.
• Be able to work well as part of a team as well as independently.
• Proven ability to succeed in a team-centered, fast-paced, and result-driven environment.
• Must possess excellent interpersonal communication, organization, and time management skills.
• Strong ability to challenge operators and have the know-how.
• Be motivated to progress in their career.