Director of Finance

Company: Highgate Hotels L.P.
Location: New York
Posted on: April 3, 2025

Job Description:

Compensation TypeYearlyHighgate HotelsHighgate is a premier real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco and Honolulu, with a rapidly expanding presence in Europe, Latin America, and the Caribbean. Highgate's portfolio of global properties represents an aggregate asset value exceeding $20B and generates over $5B in cumulative revenues. The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Highgate also has the creativity and bandwidth to develop bespoke hotel brands and utilizes industry-leading proprietary revenue management tools that identify and predict evolving market dynamics to drive out performance and maximize asset value. With an executive team consisting of some of the industry's most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in London, New York, Dallas, and Seattle.LocationLe M--ridien NYC Park CentralTap into the inimitable energy of Midtown Manhattan at Le M--ridien New York, Central Park, where iconic attractions and world-class cultural experiences beckon. Exquisitely designed to reflect the ethos of the city - bold, vibrant and authentic - our hotel is located in the heart of Midtown, on West 57th Street between 6th and 7th Avenues. From this enviable vantage point, guests may discover Central Park, Carnegie Hall, Rockefeller Center, MoMA and Columbus Circle. Ascend to our rooftop bar, LiFE Rooftop, and enjoy panoramic views of Central Park as you enjoy handcrafted cocktails and delicious bites from our carefully curated menu. Indulge in shared plates, fresh seasonal seafood and innovative rolls at Kumi Japanese Restaurant + Bar. With modern event spaces enhanced by thoughtful Le M--ridien service, we provide an inspiring destination for events; when it's time to relax, intuitively designed hotel rooms and suites encourage tranquility. We await your arrival at Le M--ridien New York, Central Park.OverviewThe Director of Finance is responsible for providing consistent leadership in the financial area of the hotel by focusing on the profitability of the business; maintaining accurate and timely financial reporting; ensuring acceptable levels on internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels' Standard Operating Procedures; and safeguarding owners/investors assets.Responsibilities

• Effectively manage and communicate cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds.
• Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines. Monitors and controls Hotel's cash flow and operating forecast.
• Create annual budgets and monthly variance analysis. Investigate and critique variances to budget or to prior year and offer practical improvement methodologies to management.
• Ensure hotels' compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Provide assistance to management in enforcing compliance on all these items.
• Analyze financial data and operations in order to assist and advise management in maintaining the hotels' financial objectives.
• Comply with Standard Accounting policies and procedures and internal controls for finance and accounting operations.
• Timely review and approval of all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations.
• Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records.
• Successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis.
• Hire, train, supervise and develop staff, including coaching, counseling and discipline.
• Maintain compliance with Highgate Hotels' standards and regulations to ensure safe and efficient operation of the hotel.
• Direct or prepare all financial reports in accordance with Highgate Hotels' requirements, meeting various due dates and deadlines, i.e:
  • Weekly: A/R & A/P Aging, Flash Reports, Payroll Reports, Revenue Updates
  • Monthly: Financial Statements, Forecasting Key Statistics Report, Cash Flow
  • Annual: Budgets, 5-Year Plans, 5-Year Capital Plans
  • Timely interact with Executive Committee members to assure that property operations are on track and under control at all times.
  • Monitor hotels' compliance in meeting required report deadlines and due dates and react accordingly.
  • Monitor the accurate production of the hotel daily operating report.
  • Execute other special projects and responsibilities as assigned.Qualifications
    • At least 5 or more years of Hospitality Finance/Accounting experience.
    • Prior Controller or Director of Finance experience, preferably at a premium-branded Hotel.
    • Excellent verbal and written communication skills.
    • Bachelor's degree required, preferably in Finance or Accounting.
    • Must supervise 2 or more employees.
    • Must be proficient in Windows, Company approved spreadsheets and word processing and in the operation of all hotel-specific systems.
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Keywords: Highgate Hotels L.P., New York , Director of Finance, Accounting, Auditing , New York, New York