Description and Requirements
Position: Director / Hotel Asset Management, MetLife Investment Management - Real Estate
Job Location: Whippany, NJ
Setting: Hybrid
Reports to: Head of Hotel Asset Management, MetLife Investment Management
The Team You Will Join:
MetLife Investment Management
Based in Whippany, New Jersey, MetLife Investment Management (MIM) is one of the largest institutional investors and asset managers in the world, with nearly $600.8 billion in combined managed assets, and has consistently generated superior returns for both policyholders and shareholders. The enterprise has more than 850 dedicated professionals with extensive experience and expertise in all asset classes, with a strength in public and private fixed income and private assets, including real estate. Visit us at www.metlife.com/investments to learn more.
MIM's Global Real Estate and Agricultural Investments maintains a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. In addition to sourcing and managing these investments, the groups are responsible for developing and maintaining relationships with key industry contacts and referral sources. The mortgage portfolio and equity portfolio units are organized according to specialty, and they actively manage MetLife's portfolio of mortgage loans and equity investments in agricultural, office, apartment, retail, industrial, and hotel properties. The portfolio units are responsible for overall portfolio strategy, pricing, transaction approval and credit approval on new loans, as well as the active management of the overall mortgage and equity portfolios. Real Estate Investments sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City and Santiago.
The Opportunity
As the Director Hotel Asset Management, you will join an experienced team of professionals focused solely on hotel investments located across the U.S. You will partner with the Head of Hotel Asset Management, Portfolio Managers, regional architects, and joint venture partners, and will be responsible for overseeing multiple hotel properties in the U.S. You will report to the Head of Hotel Asset Management, and travel to hotel assets across multiple regions. The successful candidate will be a proven team player with a high level of energy and motivation with a high priority on collaboration and teamwork.
How You'll Help Us Build a Confident Future (Key Responsibilities):
Optimize asset performance inclusive of financial performance, market positioning, capital deployment and hold/sell execution for a portfolio of hotel assets.
- Financial Performance - Assist in preparing and reviewing annual operating budgets. Review monthly financial statements and make recommendations to hotel management teams concerning revenue strategies and cost control initiatives to ensure the achievement of budgeted results. Monitor monthly cash flow and partner distributions.
- Market Positioning - Monitor revenue strategies to achieve growth in RevPAR index, via participation with the management team. Review segmentation and brand contribution. Additionally, monitor the product and performance of the competitive set.
- Capital Deployment - Oversee the hotel's annual capital plan and renovation programs. Identify and implement profit-improving/ROI projects.
- Maintain asset summaries, loan summaries, JV summaries, Management Agreement summaries, and investment models.
- Prepare monthly ownership reports and compile annual business plans and presentations.
- Develop a strong working relationship with the individual hotel management teams and corporate management teams in operations, accounting, sales, revenue management, and engineering to achieve results.
- Monitor guest satisfaction metrics, brand audits, and employee opinion surveys.
- Benchmark operating results.
- Manage acquisitions, dispositions, and refinancing transactions in tandem with regional offices and capital markets groups when appropriate.
- Manage fixed costs, including property tax appeals, and insurance renewals.
- Management of various leases at the properties.
- Participate in the planning and execution of the annual financial plan; update monthly projections to include MRI and EMS compliance and reporting.
- Prepare materials for and participate in meetings with senior company executives, hotel teams, and brand teams.
- Lead and or participate in legal-related issues including Hotel Management Agreements, Joint Venture agreements, Financing, Retail Leases, Parking Agreements, and Audio-Visual contracts.
- Understanding of hotel debt structuring and capital markets.
- Familiarity with debt fund operations/leverage facilities.
- Participate in the review of hotel lending opportunities.
- Support the MetLife Strategic Hotel Debt Fund as necessary.
What You Need to Succeed (Required Qualifications):
- Bachelor's degree in hospitality management, real estate, finance, or a related field.
- A master's degree in hospitality management, real estate, business management, or a related field is a plus.
- Seven to ten years of experience in the lodging industry, preferably in the areas of asset management, acquisitions, financial analysis, operations, or brokerage.
- A results-oriented professional with a track record of managing multiple projects and deadlines.
- Ability to work independently and as part of a team.
- A leader who enjoys building relationships and managing people and processes both within and outside an organization to move projects forward.
- Creative negotiator who focuses on finding solutions.
- Strong financial and analytical skills in the areas of investment analysis, real estate finance, and feasibility studies. Advanced knowledge of Excel.
- Excellent verbal and written communication skills
- Capacity to travel as needed to conduct hotel on-site reviews, attend meetings, and oversee projects and initiatives.
#MIM
The salary range for applicants for this position is $165,000 to $180,000.
Benefits We Offer
Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability. We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, volunteer time off, tuition assistance and much more!
About MetLife
Recognized on Fortune magazine's list of the 2024 "World's Most Admired Companies", Fortune World's 25 Best Workplaces™ for 2024, as well as the 2024 Fortune 100 Best Companies to Work For ®, MetLife , through its subsidiaries and affiliates, is one of the world's leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.
Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we're inspired to transform the next century in financial services. At MetLife, it's #AllTogetherPossible . Join us!
Equal Employment Opportunity/Disability/Veterans
If you need an accommodation due to a disability, please email us at [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.
$165,000 to $180,000
#BI-Hybrid
What We Do
Named one of Fortune’s “World’s Most Admired Companies,” MetLife is leading the global transformation of an industry we’ve defined for more than 150 years. At MetLife, every innovation and line of code is a lifeline for our customers and their families—from victims of natural disasters to people living with disabilities and beyond. With operations in more than 40 markets and leading positions across the globe, MetLife’s building a workforce of diverse and empowered voices that all belong. Join our remarkable journey—one in which you help write the next century of innovation in financial services—because with MetLife, making the world a better place is All Together Possible.
Why Work With Us
At MetLife, you’ll be working for a company whose purpose is to help customers throughout their life’s journey, and often in their most critical time of need. You’ll be a part of developing leading-edge platforms that will have a lasting impact on the lives and well-being of tens of millions of customers.
Gallery
MetLife Teams
MetLife Offices
Hybrid Workspace
Employees engage in a combination of remote and on-site work.
MetLife's current workplace policies classify roles as Office, Hybrid or Virtual based on the nature of work, encouraging new ways of working together