Watermark Capital Partners, LLC

Opportunity:

Asset Management Professional with Leading Hotel Investment Management Firm

The firm is seeking candidates in our Chicago office who will work with our senior management team and third-party managers to maximize the performance and related value of our lodging and lodging related assets. The candidates will also participate in other activities such as acquisition and disposition due diligence and portfolio analysis and reporting. The qualified candidates will have the opportunity to be part of a highly regarded and professional organization that is also entrepreneurial and provides significant opportunities for growth. This unique position allows for involvement and in all aspects of the investment life cycle working with the most complex of assets and a highly skilled team.

The Company:

Watermark Capital Partners, LLC (Watermark) is an established andrapidly growing Chicago, IL based real estate investment management firm that concentrates its activities on assets that benefit from specialized marketing and value enhancement strategies and demographic shifts including hotels and resorts; resort residential products; recreational uses including golf and club ownership programs; and new-urbanism and mixed-use projects. The Watermark team is led by Michael G. Medzigian, who is also CEO of Carey Watermark Investors Incorporated (CWI 1) and Carey Watermark Investors 2 Incorporated (CWI 2), both publicly registered real estate investment trusts, and who has been responsible for over $17 billion of real estate investments in his over 35 years of experience in the real estate industry.

Watermark’s lodging activities are focused on CWI 1 and CWI 2. Affiliates of Watermark and W. P. Carey Inc. advise the REIT and manage its overall portfolio. Additional information regarding Watermark, CWI 1, CWI 2, and W. P. Carey, is available at respectively.

Reporting Relationships:

The Asset Management Professional will report to theSenior Vice President of Watermark Capital Partners, LLC, and will be located in the Watermark offices in Chicago, IL working closely alongside a team of hotel acquisitions and asset management professionals.

Professional Qualifications:

The desired candidate should have 3+ years of experience in hospitality asset management and/or related accounting, finance or operations. A track record of success, integrity and academic achievement supported by the strong recommendation of industry peers is required as are:

  • Undergraduate degree with preferred course curriculum focused in finance, business, or hospitality.
  • Fluency in the strategic, operational, financial and capital investment aspects of asset value creation.
  • Best-in-class analytic and modeling skills with strong competency in written and oral communication.
  • Strong natural hotel instincts and working knowledge of property-level financial statements.

Personal Qualifications:

As an integral member of the company’s staff, the candidate must exemplify the highest standards of honesty, integrity and discretion. The individual should be energetic, highly confident of their abilities and be considered a detail-oriented person who can tackle complex assignments, must be task oriented and possess a record of meeting deadlines and goals. The candidate must be highly numerate and analytical. S/he will need to be a consummate team player with excellent interpersonal and communication skills up and down the organizational chart. The candidate must possess an entrepreneurial desire for success, a high energy personality, and must be a motivated self-starter with the ability to work under pressure independently and as part of a team.

Duties/Responsibilities:

The Hotel Asset Manager will have primary responsibility for the following, but it’s envisioned to be a dynamic position that will grow and change over time:

Property asset management:

  • Coordinate, align and manage relationships with joint venture partners, lenders, hotel management companies, accounting, and third-party service providers.
  • NOI maximization including seamless ownership transitions, annual budgeting and business planning, financial and strategy reviews, planning and execution of capital projectsand executing on agreed upon strategies.
  • Performance reporting including monthly asset management reports and board presentations.
  • Assist in acquisition due diligence and/or dispositions and with special projects such as refinancings, brand and management changes, and hotel license renewals.
  • Align and manage relationships with our partners, lenders, and hotel management companies.
  • Monitor property and portfolio financial performance from an operational perspective.
  • Monthly reviews with each property to discuss performance and strategies for improvement.
  • Review, evaluate and approve annually prepared business plans/budgets, including capital budgets, for each property. Provide any cost reduction and revenue enhancement guidance.
  • Ensure that all capital projects are completed on time and within budget and evaluate all ROI projects.
  • Roll-up and monitor internal accounting for the portfolio.
  • Provide internal reporting for use by senior management and for regulatory reporting.
  • Assist in acquisitions and/or dispositions of company assets and with special projects such as refinancings, brand and management changes, and hotel license renewals.
  • Provide support in underwriting and due diligence of new acquisition opportunities.

Compensation:

Total compensation will be commensurate with experience and will include a base salary, bonus and long-term incentives including a stock program and appropriate executive perquisites.

Contact:

Christine Isfan

Watermark Capital Partners

150 N Riverside Plaza

Suite 4200

Chicago, IL 60606

847-482-8600

150 N Riverside Plaza, Suite 4200, Chicago, IL 60606׀TEL (847) 482-8600 ׀FAX (847) 482-8696