AVP, Accounting - Hospitality

Who We Are

What We Value: Our Culture

• Achievers – We expect high standards for ourselves and enable the success of our teams
• Enthusiasts - We face challenges with optimism and believe anything is possible
• Leaders - We commit to continuously improve our performance
• Learners – We learn from our challenges and successes
• Partners - We deliver value and positive impact to our partners

Why This Role Is Valuable

The role of AVP, Accounting – Hospitality, oversees all activities related to supervising and managing the hospitality investments owned by Blackstone, managed by BRE Hotels, and held within the BREIT and BREP Funds. The role is responsible for overseeing a team for preparing, analyzing, and reporting on the financial and operating results of the hospitality investments at the asset level, investment level and a consolidated level (BRE Hotels overall or Fund level). A successful AVP, Accounting is knowledgeable about real estate principles (GAAP, SEC), has a strong business acumen, and an ability to multitask internal and external requests.

This role is based out of Revantage’s headquarters in Chicago, IL.

• Manage and oversee the daily operations of Hospitality Investment Reporting including overseeing and reviewing the month-end, quarter-end, and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness.
• Directly supervise Senior Associate level professionals.
• Review and analyze accounting data and produce Monthly Operating Reports such as P&L’s, Balance Sheets, Budgets, and Forecasts at the individual asset level and the consolidated portfolio level for the hospitality assets (BRE Hotels).
• Review monthly portfolio forecasts and individual forecasts in conjunction with the BRE Hotels FPA team and/or Blackstone asset manager.
• Review and load the portfolio annual budgets and individual property budgets in conjunction with the BRE Hotels FP&A team and/or Blackstone asset manager.
• Provide variance reporting to assess property performance relative to budgets or forecast.
• Lead onboarding and wind down efforts of acquisitions, dispositions, and change of operators.
• Instrumental in the preparation of certain due diligence reports for potential dispositions or acquisitions.
• Conduct on site visits as necessary when onboarding or disposing a property.
• Review all capex draw requests and debt yield calculations prior to distribution to the lender.
• Review projects assigned to staff to ensure compliance, reporting accuracy, and timeliness such as the debt reporting and the FF&E Draw submission.
• Serve as liaison with property operators and establishes meeting cadence to discuss important and timely topics.
• Ensure all hospitality property invoices paid at the corporate level are processed and paid timely.
• Enforce proper accounting methods, policies and principles.
• Provide recommendations to improve systems and procedures and initiate corrective actions.
• Ensure direct reports are handling processes in a like and efficient manner.
• Construct reliable cash models to project an asset’s future performance.
• Establish and maintain fiscal files and records to document transactions.
• Assist in the preparation and review results of annual audit findings.
• Assist with developing and documenting business processes and accounting policies to maintain and strengthen internal controls.
• Interact with internal Revantage staff (e.g., Insurance, Tax, and Treasury) and external service providers to complete assigned responsibilities.
• Incorporate anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future.
• Assess and react to changing business conditions, in terms of their impact the organization they lead.
• Ensure team’s processes and procedures support the department’s goals according to guidelines and policies.
• Partner with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third party accounting departments and third-party operators accounting teams.
• Assist other portfolio companies during Project initiatives on an as-needed basis.

• Bachelor’s Degree with a major in Finance, Accounting, or closely related field
• 6+ years of experience in cost accounting, financial analysis and general accounting
• 3+ years people management experience
• Must have hospitality accounting experience
• Must have knowledge of US GAAP
• Extensive experience with accounting ERP systems and other accounting software
• Strong working knowledge of MS Office, accounting software, and databases
• Requires understanding of financial models, corporate financials and regulatory market
• Passion for making business processes more efficient and successful
• Experience with systems integrations preferred
• Excellent communication, problem solving and interpersonal skills necessary
• Ability to multi-task and manage shifting priorities in a fast-paced environment
• Strong attention to detail and ability to work both independently and in a team environment

Preferred:

• Master’s Degree
• CPA certification

• Competitive salary, overall compensation, and 401(k)
• Work-life balance offerings include:
  • Remote Work Policy
  • Productivity Hours – weekly meeting-free work time
  • Summer Fridays
  • Work From Anywhere Month
• In-house and external learning & development opportunities
• Generous health insurance and wellness benefits