Asset Manager job Luxury suites group

Asset Manager jobs at Luxury suites group

  • Salary $80K. More for exceptional candidates
  • Several open positions
  • suits Building Managers
  • properties in 15 states
  • current openings in NYC and NJ more in CA soon

Global Luxury Suites Regional Management Protocol

  1. Overview: This document covers the responsibilities and role of the Global Luxury Suites Asset Management. Each property will be assigned to a property manager who will oversee that all the departments that are handling various aspects of the property are informed and communicating as per expectations. Additionally the Asset Manager will make recommendations from time to time on which area can be improved.
  2. Property Components
    1. Rent
    2. Payroll Expenses
    3. Operation expenses
    4. Utilities
    5. Rates
    6. Occupancy
    7. Listings
    8. Sales
    9. Customer Service
    10. Reviews
    11. Social Media
    12. Refunds
    13. Billing
    14. Furnishings and housewares
    15. Turnovers
    16. Building Management complaints
    17. Building Maintenance
    18. Additional Revenue Drivers
    19. Atmosphere
  3. Role: The Assets Manager is the one who knows the full picture about any particular property. The Asset Manager is the point person who can coordinate between any department and management / ownership if there is any issues that need intervention or are not being properly handled. Additionally, they will have the ability to customize rules and policies to the needs of the particular property.
  4. Responsibilities: the Asset Manager is responsible to keep a handle on the goings on of the property and analogize the available data to guide and instruct each team in the chosen direction to drive the NOI. The Asset Manager will be responsible to review all expenses with eye to reduce them as much as possible without reducing guest experience.
  5. Timeline: The Asset Manager may get involved as early as lease negotiation during which they will provide comments and direction on potential concerns and direction that may come up during the term of the lease. In most case they will take building that are under-performing or already live and to ensure that best experience for guest which will in turn ensure that the NOI is high
  6. Day to Day: the Asset manager will have ensure that for each of the departments servicing the property the following in being done:
    1. Rent – Ensure that rent is paid on time and make a determination if any rent credit is due. Ensure that the building responsibilities are kept and if needed find alternate responsibilities at the cost of the building – Once a month OFFICE
    2. Payroll Expenses – ensure that proper staffing is in the building as required. Ensure the performance of the personnel at the building. Review the work being done to determine if the staffing should be adjusted or of the hours required on site needs to be reduced. 2-3 times a month per building – ONSITE
    3. Operation expenses – monitor and approve all expenses related to the operation of the building and make determination of expenses that need further review and work to find alternatives. – every two weeks review and on demand – OFFICE
    4. Utilities – ensure that all utilities are set up, bills are paid and the utilities performance is up the specifications provided. Ensure that specials are being looked at as a manner to reduce the cost for all utilities. Ensure that that the phones within the apartments are utilizing IP and not costing extra. Once a year – OFFICE
    5. Rates – Ensure that the rates are competitive based on the other hotels and apartments in the area. Review the rates YoY to ensure that the building is on par with the market and increasing accordingly. Daily Spot check – Once a month analysis – OFFICE
    6. Occupancy – Review on a consistent basis the OCC in comparison to the market and YoY. Be proactive to know when the upcoming downturns will be to recommend specials. Ensure that the OCC is at the highest level that it can be. Daily Spot check – Once a month analysis – OFFICE
    7. Listings – review all listings on a consistent basis to ensure that the content is accurate, the rates are correct, and the ranking is high – if any of these is not correct, direct the appropriate teams to correct or make recommendations to improve rankings Daily Spot check – Once a month analysis – OFFICE
    8. Sales – ensure that the sales team has accurate information about the building, they are informed about the selling points and are confident in providing good information about the building. Direct the sales team to promote specials or specific rooms or otherwise in an effort to increase ADR, OCC and NOI. Quarterly – OFFICE
    9. Customer Service – Be on top on all customer service requests to ensure they are properly handled in a courteous and polite manner. In addition ensure that a proper resolution is carried out to the requests. If something is not getting done then step in and direct the correct person to do resolve. The Asset manager should also learn from the customer service requests what can be improved at the building (and direct the effort to carry it out) so there issues do not become repeat issues. For those that are repeat issues work to determine and fix the root cause or provide a method for alleviative the effect if the root cause cannot be addressed. Daily Spot check – Once a month analysis – OFFICE
    10. Reviews – Review all the reviews to ensure they are responded to. Ensure that those people that left review are happy to try to get the most positive reviews. For negative review direct the effort to ensure that the review is removed by the reviewer and if needed the host site. They should also learn from the reviews requests what can be improved at the building (and direct the effort to carry it out) so there issues do not become repeat issues. For those that are repeat issues work to determine and fix the root cause or provide a method for alleviative the effect if the root cause cannot be addressed. Daily Spot check – Once a month analysis – OFFICE
    11. Social media – Ensure that posts are posted on a consistent basis with good content, positive review, and specials. For all posted reviews follow the review procedure. Daily Spot check – Once a month analysis – OFFICE
    12. Refunds – review all cases of refund requests, the resolution, those that were and were not refunded compare with reviews and customer experience and make determinations of policies need to be adjusted for the building. In the case of building maintenance or known issues be proactive in informing the departments of the temporary refund process with an expiration. Daily Spot check – Once a month analysis – OFFICE
    13. Billing – review all cases of chargebacks or upgrades, extensions and other billing cases to ensure the best guest experience and maximize the revenue. Ensure the billing staff are knowledgeable about the building so they can help guide the customers to a fair resolution. Daily Spot check – Once a month analysis – OFFICE
    14. Furnishings and housewares – Ensure the integrity of the furniture and houseware which included, knowing what inventory is in the building and when new inventory is set ensure that it is accounted for. Ensure that furniture replacement and touchups are done as needed in a timely fashion and ensure that guest expectations are met. Once a Month review – ONSITE
    15. Turnovers – Ensure the turnovers are being done timely and in a fashion that ensures the guest check in time is honored and the quality of the turnover is up to expectation. Ensure the turnover staff has the materials they need to properly turn over the apartment and ensure that all laundry is properly returned and accounted for. Once a Month review – ONSITE & OFFICE
    16. Building Management complaints – Be in touch with the building management to ensure the relationship is always positive and direct any effort that needs to be done to correct any real or perceived issues. Visit the building on a quarterly basis and meet with the building management to ensure the relationship is solid. Quarterly ONSITE Larger issues on Demand – OFFICE
    17. Building Maintenance – ensure that all building maintenance and repairs are done in a timely fashion and when a credit is due ensure that such credit is deducted. For repairs not being complete ensure that the proper building staff are made aware of the issues and they are properly addressed. As needed – Monthly review – OFFICE – as needed for outstanding issues ONSITE
    18. Additional Revenue Drivers – determine and direct implementation of additional items that can be used to drive revenue including Dry Cleaning / Laundry services, Dry Mini Bar, Food Service, Grocery etc. Review monthly OFFICE – Implementation review monthly – ONSITE
    19. Atmosphere – set a standard and ensure that it is maintained to include all common areas and apartments for aromas, décor, background music, uniforms etc. Quarterly ONSITE
  7. Expected reports: On a monthly basis there will be a report that must be filled out that lists each of the Building components that will have entries for rating, listing concerns, steps taken and impact of the items. OFFICE
  8. Performance Metrics: performance will be measured in multiple manners including but not limited to YoY revenue, YoY OCC, YoY NOI, our revenue OCC and NOI against the market, review score, customer satisfaction and building relationships.
  9. Other Duties: As the Asset Manager will be the boots on the ground they will expected to maintain a relationship with the Property Owners and Management to the extent that will provide us with additional properties and be positive references for other property owners. Asset managers are also expected to know the surrounding areas and note to the Real Estate team any new projects udder development and any further info that can provide regarding the development.

To APPLY eMail your Resume to Luxury Hotel Recruiter Emmanuel Plaza or, luxury Asset Manager recruiter Modris Reinbergs Mobile 310-691-2586 or, hospitality Recruiter Guada Costillas

For MORE Hospitality Asset Manager jobs in the USA, join our USA/Canada Hospitality jobs group on LinkedIN

Follow our website:

Join our Corporate Housing and Relocation Industry group on LinkedIn.

For more Hospitality Jobs in NYC join our New York City Hospitality jobs group on LinkedIn.

end of Asset Manager career jobs Luxury suites group.