Controller

Hotel 57•New York, NY

About The Position

Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America. With a 30-year track record as an innovator in the hospitality industry, this forward-thinking company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate continues to demonstrate success in developing a diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts, featuring contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team of seasoned hospitality leaders and corporate offices worldwide, Highgate is a trusted partner for top ownership groups and major hotel brands. www.highgate.com Location Hotel 57 is a contemporary 17-story hotel perfectly situated on Lexington Avenue at the corner of 57th Street, steps from Central Park, Fifth Avenue and Bloomingdales while walking distance to Radio City Music Hall, Rockefeller Center, The Museum of Modern Art and many boutiques and restaurants. All major public transportation (bus and subway lines) are within a few blocks. The hotel offers 205 guestrooms (including 19 suites) which are tastefully appointed with modern décor and upscale amenities. Overview The Controller 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 of internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels' Standard Operating Procedures; and safeguarding owners/investors assets.

Requirements

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.

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 and payables, control mechanisms, and timely deposits of all funds.
Monitor hotel revenues and expenses and ensure accurate recording in accordance with Highgate Hotels' established guidelines. Monitors and controls the hotel's cash flow and operating forecast.
Creates annual budgets and monthly variance analysis. Investigate and critique variances from the budget or the prior year, and offer practical improvement methodologies to management.
Ensure hotels' compliance with all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Assist in management in enforcing compliance with all these items.
Analyze financial data and operations to assist and advise management in maintaining the hotels' financial objectives.
Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations
Timely reviews 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 the hotel's safe and efficient operation.
Directs or prepares 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 KeyStatistics Report, Cash Flow Annual: Budgets, 5-Year Plans, 5-Year Capital Plans
Timely interacts with Executive Committee members to ensure that property operations are on track and under control at all times.
Monitor hotels' compliance with required report deadlines and respond accordingly.
Monitor the accurate production of the hotel's daily operating report.
Executes other special projects and responsibilities as assigned.