Corporate Controller - Ownership
Highgate Hotels Corporate Office TX
Irving, TX
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:
Highgate Corporate Offices Irving, TX
Overview:The Corporate Ownership Controller is the senior financial and accounting person for each group of ownership entities for which he/she has responsibility. The position is responsible for all aspects of financial management, financial control, accounting and financial reporting for a portfolio of assigned hotel ownership entities. The Corporate Ownership Controller’s responsibilities include, but are not limited to, timely, responsive and accurate completion of the job responsibilities below.
Responsibilities:
- Establishment, documentation, maintenance and compliance with the Company’s systems of accounting and financial reporting, and internal operating, accounting and financial reporting controls
- Technical compliance with U.S. GAAP (“GAAP”), inclusive of research and memo writing (or review of such) for timely conclusion of non-routine and other transactions covering multiple complex technical accounting U.S. GAAP issues.
- Management of financial and accounting aspects of purchases, sales, transaction closings, takeovers and exits of properties
- Management of the initial set up of new entities, including identifying and managing GAAP and other compliance, control and reporting issues
- Understanding and compliance with all corporate, partnership, debt and other contractual documents for all hotel related entities
- Timely review of monthly financial statements of all hotel properties and related entities including corporate consolidation and reporting of hotel properties and ownership entities
- Coordination of all financial communications with owners
- Management of debt, construction and other financing and capital transactions
- Monitoring of consolidating cash, cash flow, accounts receivable and operating forecasts of all hotel related entities
- Spot review of bank reconciliations and G/L reconciliations
- Review, approval and processing of certain disbursements
- Involvement with insurance and property tax administration of hotel properties
- Successful completion of internal and external financial audits, including coordinating and monitoring work of CPA firms and the assigned Corporate Assistant Ownership Controller, as well as delivering information requested by auditors on a timely basis. This includes delivery of GAAP or other required basis financial statements to auditors.
- Preparation of consolidating and consolidated operating, cash, receivables and other reports for owners
- Preparation of any special reports, statements, etc., as requested
- Other special projects and responsibilities as assigned
- Cash flow projection monitoring
- 7-10 + years of Public Accounting and/or corporate/ownership related financial management, financial reporting and accounting experience required.
- Bachelor’s Degree in Accounting required.
- Strong PC skills including Excel, Word and financial accounting systems
- Strong organizational, analytical, verbal and written communication skills.
- Ability to travel and work overtime as necessary to complete assigned duties
- CPA required
- Public Accounting Manager or Senior Manager experience preferred
- Oracle accounting system experience preferred
- Strong knowledge of U.S. GAAP as it applies to the real estate industry, which would ideally include, but not necessarily limited to:
- Asset impairment issues
- Debt modifications
- Asset Acquisitions
- Business Combinations
- REIT structures
- VIE structures
- Asset Recapitalizations
- Real Estate sale transactions
- Significant Renovations
- Cash flow statements
- Familiarity with Uniform System of Accounts for the Lodging Industry (11th edition)
- Strong desire to adhere to U.S. GAAP financial accounting and reporting standards
- Strong technical accounting research skills preferred with an ability to write and/or review technical accounting position papers with supporting calculations to support technical accounting conclusions
- Ability to draft and/or review U.S. GAAP financial statements with footnotes for non-public entities based on research performed and completion of the applicable U.S. GAAP financial statement disclosure checklist.