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Hotel Asset Manager

Dallas

Credit Funds

Ref#: 2277

Date published: 22-Feb-2019

About Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $42.1 billion of assets under management as of September 30, 2018. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.

About Commercial Real Estate
Fortress’s Real Estate Loans & Equity teams are focused on investing in distressed real estate loan acquisitions, special situation equity investments and recapitalizations, opportunistic lending, REIT debt and commercial real estate structured products.  The teams have long-standing distressed investing and asset management experience with a fully tested and integrated origination, acquisition, underwriting, and asset and risk management infrastructure.

About The Position
Fortress’s Dallas office has an opening for a Hotel Asset Manager to join the commercial real estate team, specifically focused on principle equity.  The position will be responsible for creating and executing individualized asset business plans in order to achieve the fund’s return objectives.   The candidate will directly report to the Managing Director of Asset Management and Portfolio Manager, and have close interaction with the investment team, senior fund managers, fellow asset managers, and supporting analysts.     

Responsibilities 
  • Development and implementation of action steps and strategies to maximize the value of underperforming assets, including undercapitalized, litigation, foreclosure, bankruptcy, and distressed partnerships
  • Review, benchmark, and analyze hotel financials and keep informed of market dynamics and key factors affecting current and future performance 
  • Prepare monthly, quarterly, and annual asset status reports for senior management
  • Drive operating partners and hold them accountable in efforts to maximize profitability 
  • Create and lead value-add capital improvement plans 
  • Identify and take the lead in mitigating risks to the portfolio
  • Effectively interact with in-house departments including but not limited to acquisition team, capital formation group, accounting, and legal to ensure a consistent understanding of performance expectations and efficient use of resources 
  • Review and become knowledgeable of the transaction documents, with specific emphasis on compliance with performance criteria.
  • Develop strong relationships and effective lines of communication with various brands, colleagues, operating partners, and third parties 
  • Conduct periodic site visits to review physical condition and compliance standards
  • Assist in modeling assumptions for underwriting of new hotel acquisition opportunities
  • Business plan development including market analysis, operations and renovations
  • Negotiating loan documents, franchise agreements, property management agreements
Qualifications 
  • 7 - 10 years of direct and hands on experience in commercial real estate retail investing and asset management, preferably in a Hospitality REIT or other hotel ownership environment
  • A Bachelor’s degree in accounting, finance or real estate  
  • Experience in distressed, opportunistic, repositioning and value add hospitality investments a huge plus 
  • Prior revenue yield management, property management and construction oversight experience also a plus
  • Strong modeling and analytical skills including regular use of Excel and MS Office programs 
  • Developed relationships with brokers and, ideally, owners and brands throughout the county 
  • Acute attention to detail, ability to multitask, and strong organizational skills
  • Outstanding written and verbal communication
  • Self-starter, able to work independently or in a team environment 
  • Demonstrated flexibility to handle multiple projects in a fast-paced environment
  • Unquestionable integrity and ethics
  • A Bachelor’s degree in accounting, finance or real estate  

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Fortress Investment Group LLC collectively with its subsidiaries and operating affiliates is an equal opportunity employer and considers all applicants for employment without regard to race, religion, creed, color, sex, age, national origin, citizenship status, disability, genetic information, protected veteran status, marital status, sexual orientation, gender identity, or any other status protected by federal, state or local law.