Finance Director

THE COMPANY

Our client operates a distinguished portfolio comprising a collection of exceptional ultra luxury hospitality establishments. Each property within the portfolio offers a bespoke experience that seamlessly integrates the essence of its locale. As one of the fastest growing ultra luxury hospitality operators, their portfolio spans across multiple continents. Our client’s properties invite guests to create memorable experiences in the most desirable destinations.

THE POSITION

We have been retained to search for a Finance Director to oversee financial operations for a top ultra luxury resort and residential complex. This pivotal role involves managing finances for both the resort and residential components, ensuring adherence to industry standards while driving profitability. The Finance Director will be responsible for budget management, financial reporting, risk assessment, and strategic planning. The ideal candidate will possess extensive experience in property finance leadership, a deep understanding of financial standards, and proficiency in reporting systems. Strong analytical skills, risk management expertise, and complete understanding of residential/HOA finance are essential. The Finance Director will lead a dedicated team, collaborate cross-functionally, and uphold the highest standards of integrity and professionalism within the property.

MAIN RESPONSIBILITIES

Financial Planning and Analysis:

• Develop comprehensive financial plans, budgets, and forecasts for both the resort and residence components, aligned with the hotel’s strategic goals.
• Conduct regular financial analysis to identify trends, risks, and opportunities for improvement in both areas.
• Provide strategic recommendations to the executive team based on financial insights from both the resort and residential operations.

Budget Management:

• Lead the annual budgeting process for the resort and residence areas, working closely with department heads to establish accurate and achievable budgets for each component.
• Monitor and control expenses in both areas to ensure adherence to budgetary guidelines.
• Implement cost-saving initiatives without compromising the quality of service or resident experience in the luxury residence.

Financial Reporting:

• Prepare accurate and timely financial reports for both the resort and residence components, including monthly, quarterly, and annual statements.
• Present financial performance to the executive team and stakeholders, highlighting key metrics and variances for each area.
• Ensure compliance with accounting standards, regulations, and internal policies in both the resort and residential operations.

Cash Flow Management:

• Manage cash flow effectively in both the resort and residence areas to meet operational needs and optimize liquidity.
• Implement strategies to maximize revenue collection and minimize outstanding receivables, particularly within the HOA component of the luxury residence.
• Oversee cash handling procedures in both areas and maintain banking relationships to support financial activities.

Risk Management:

• Identify and assess financial risks in both the resort and residence components, developing strategies to mitigate them effectively.
• Implement robust internal controls to safeguard assets and prevent fraud across both areas.
• Stay informed about industry trends, economic factors, and regulatory changes that may impact financial stability in both the resort and residential operations.

Tax and Compliance:

• Ensure compliance with local, state, and federal tax regulations for both the resort and residential operations, filing accurate and timely returns for each component.
• Coordinate with external auditors and tax advisors to facilitate audits and resolve any issues related to both areas.
• Stay updated on tax laws and regulations to optimize tax planning strategies for both the resort and residence components.

Team Leadership and Development:

• Lead and mentor the finance team, fostering a culture of excellence, collaboration, and continuous improvement across both the resort and residential operations.
• Provide guidance and training to develop team members’ skills and capabilities, ensuring proficiency in managing finances for both areas.
• Delegate tasks effectively, empowering team members to take ownership of their responsibilities in both the resort and residence components.

Strategic Partnerships:

• Collaborate with other departments, including Sales, Marketing, and Operations, to drive revenue growth and enhance profitability in both the resort and residential areas.
• Partner with vendors and suppliers to negotiate favorable terms and optimize procurement processes for both components.
• Build strong relationships with external stakeholders, including investors, homeowners, and regulatory agencies, particularly within the HOA component of the luxury residence.

THE CANDIDATE

• Industry Experience: Brings prior experience as a property finance leader, ideally within the dynamic environment of a complex hotel, showcasing the ability to navigate the unique challenges and intricacies of luxury hospitality operations.
• Leadership and Communication Skills: Exhibits excellent leadership abilities with a proven track record of building high-performing teams, along with exceptional communication and interpersonal skills essential for influencing and collaborating effectively at all levels of the organization, fostering a culture of integrity, ethics, and professionalism in financial management.
• Residential/HOA Finance Expertise: Brings complete understanding of residential/HOA finance, demonstrating full knowledge of the unique financial dynamics and considerations associated with managing both ultra luxury resort and residential components within the property. Residential HOA expertise must include presenting financial statements, oversight of operating expenses (security, maintenance, utilities, etc.), preparing the budget and forecast, evaluating and overseeing new projects, and presenting to property owners.
• Financial Standards Mastery: Possesses an excellent understanding of the Uniform System of Accounts, ensuring adherence to industry-standard practices and facilitating accurate financial reporting across all hotel segments.
• Technological Proficiency: Demonstrates total proficiency in the Microsoft Office Suite and accounting software, enabling efficient management of financial data and streamlined reporting processes.
• Financial Reporting Expertise: Offers deep experience with hotel financial reporting systems, policies, and procedures, along with comprehensive knowledge of management agreements, ensuring compliance and optimization of financial performance.
• Risk Management Skills: Exhibits experience with operating and financial agreements, showcasing a track record of success in evaluating risks and developing proactive strategies to mitigate business issues, ensuring financial stability and growth.
• Analytical Proficiency: Possesses strong qualitative and quantitative analytical skills, enabling the ability to process large volumes of complex information and distill key insights for presentation to senior management and owners in a clear and concise manner.
• Educational Background: Holds a bachelor’s degree in accounting, Finance, or a related discipline, demonstrating a strong foundation in financial principles and practices essential for effective leadership in the hospitality industry. Ideally holds an advanced degree such as an MBA or CPA, further enhancing expertise and credibility in financial management and leadership roles within the hospitality sector.