KEY RESPONSIBILITIES :
1.Monitor property financial performance
• Communicate ownership expectations and objectives to properties
• Review proposed budgets, business strategy plans (marketing & operating), and capital expenditure plans for property’s compliance with ownership expectations.
• Review actual financial performance compared to budget, forecast, and prior years. Also compare against financial benchmark of the industry and competitors.
• Review all charges payable to the property management company including management fees and program fees.
• Review and rationalize rolling monthly forecasts, and performance against quarterly and annual financial budget, including monitoring of Cash Flow status in relation to AR, AP, and Loan repayment obligations.
• Monitor and pursue for results from property’s strategic action plan to achieve quarterly and annual financial targets.
• Identify and implement opportunities for improvements in financial performance through additional revenue and cost savings.
2. Monitor the competitive market
• Obtain situational awareness of overall market trends, demand and supply conditions, market segment analysis, and demand generators.
• Review occupancy, ADR, and RevPar trends and other market data reports based on property types
• Review competitive set, rationalize relevance of the competitors, and communicate with property on need for adjustment of competitors for performance comparison.
• Anticipate significant changes in future market demand and communicate with property on potential strategy adjustments as needed.
• Monitor pricing and distribution activity, and product improvement/expansion activity of direct competitors.
3. Monitor physical assets and control capital expenditures
• Regularly evaluate physical condition of the property and anticipate capital expenditure required to maintain property competitiveness.
• Develop and follow through on long-term CAPEX plan developed together with the operation team.
• Review and rationalize CAPEX purchase requests on necessity and suitability to property operation, appropriate specifications of the purchase items, and price quotation.
• Review and evaluate disposal, sale, or transfer of replaced or damaged operating equipment.
• Stay updated on working conditions of major building system and other infrastructures through routine audits by consultants.
4. Monitor compliances to license, permits and insurance
• Monitor and ensure property has obtained valid and up-to-date compliance to licenses and permits following requirements of local law and government authorities.
• Ensure property has obtained insurance coverage as required by owning company.
5. Development and coordination of property investment plan
• Involve in coordination of property investment plan by acting as a central controller between property team, property management company, owning company, and project consultants.
• Involve in rationalization of Property Improvement Plan, Property Performa, and project investment cost.
• Monitor and ensure property investment project proceed within schedule, investment budget, and property performance according to Performa used for investment feasibility.
6. Coordination with support teams and service providers
• Lead coordination with internal support teams and external service providers in relation to Human Resources, Legal & Government Affairs, IT systems, Project and Construction Management, to carry out asset management duties.
• Lead local office team members at designated countries by delegating, empowering, and appointing accountability on asset management and other duties.
7. Administration
• Prepare management paper to obtain approval from management and ownership on major decisions with an impact to property performance or legal and financial obligations.
• Coordinate company board meetings with board secretary and prepare presentations.
• Maintain database and digital files of information related to property operation, asset, and asset management responsibilities.
• Prepare regular reports pertaining key issues, tactics, and outstanding tasks related to the propertys under assignment.