Senior Director - Asset Management (COR722)

Overview:

As part of its development of Qiddiya City, Qiddiya Investment Company will be developing hotels in the coming years. The Senior Director – Asset Management is responsible for leading an Asset Management hospitality portfolio team overseeing multiple hotels tasked with the smooth opening and optimizing the performance of the QIC hotel portfolio.

Responsibilities:

1. Assist in developing and implementing the Asset Management Framework for hospitality assets in Qiddiya including setting, monitoring and periodically refining a Hospitality Asset Management Strategy (“HAMS”).
2. Assist in designing the Asset Management (Hospitality) team structure and implement hiring in accordance with the HAMS.
3. Have input into and implement Qiddiya Asset Management operational policies, standards and KPI’s for hospitality assets.
4. Manage the negotiation and execution of all hospitality management agreements (“HMA”) in conjunction with the Qiddiya Strategy and Development teams.
5. Manage the asset handover, onboarding of all hotel operators and the pre-opening activities, budgets, business plans etc. for all hotel assets in conjunction with the Qiddiya Development team.
6. Develop strategic relationships with all hotel operators and service providers.
7. In conjunction with the Asset Management – Facility Management team, develop and implement a Hospitality ESG Strategy for Qiddiya Asset Management which is aligned with the Qiddiya City approved ESG commitments.
8. Engage and collaborate with other Asset Class leads to optimize overall Qiddiya customer experience, extract operating initiatives and synergies and asset performance including event management, security, transportation, marketing and communications, packages and pricing etc.
9. Continually monitor and analyze asset and portfolio performance and risk across all target KPI’s.
10. Develop and implement strategic responses to performance to ensure targets are consistently and reliably met or exceeded.
11. Analyze hotel operations, business plans, capital investments, sales & marketing plans and strategic alternatives.
12. Formulate and make recommendations to the Head of Asset Management and required stakeholders for short and long-term strategic plans for the hotel assets.
13. Research and remain close to all markets affecting the hospitality industry and specifically the markets in which the assets are situated, including supply and demand changes and trends.
14. Examine and monitor the operating performance of the assets to ensure the return on investment in each asset is maximized.
15. Meet with hotel executive teams to review monthly & quarterly operating performance, annual business plans and longer-term strategic plans.
16. Proactively identify and resolve ownership issues to maintain the integrity of the assets.
17. Ensure the effective deployment of capital by working with the hotel teams and third-party technical services consultants to execute and monitor each hotel's short and long-term capital plans.
18. Prepare investment summaries and make recommendations for major hotel expenditures.
19. Monitor and analyze return on investment for the assets as well as profit improving projects, either implemented or proposed.
20. Identify value enhancement opportunities within the portfolio.
21. Provide input to monthly, quarterly and annual internal reports to the Executive Committee for all assets in the hospitality portfolio.