Vice President Portfolio Management

4 weeks ago


London, United Kingdom Mandarin Oriental Hotel Full time

Vice President Portfolio Management

Apply now Position: Vice President Portfolio Management (Full time #539382)
Property / Office: Corporate Office, London
Location: London, United Kingdom

POSITION SUMMARY

The newly created role encompasses supporting our pipeline projects and portfolio occurrences (commercial issues with our existing hotels) by leading the core teams, ensuring internal alignment on key issues, and escalating concerns/solutions to hotel owners and the Global Leadership Team.

This executive oversees all projects at the intersection of Development, Legal, Technical Services and Operations, providing consistency of views, effective project management and ensuring coordination between all the various disciplines of Mandarin Oriental.

This role interacts with many stakeholders: Hotel Owners or asset managers, Development team, Legal team, Technical Services team, Operations team, including functional leaders (F&B, wellness, Quality…), General Managers, and Residences team, when relevant.

To note, in order to support the role, we suggest having at least one manager (located in an alternative geography than VP) to help deliver the significant tasks of the newly required function.

Mandate and Mission Statement

Delivery of pipeline projects by collaborating with internal and external stakeholders; and

Recommendations and responses related to portfolio occurrences.

ESSENTIAL DUTIES AND RESPONSIBILITIES

DEVELOPMENT MANAGEMENT/PIPELINE DELIVERY

Transition smoothly from Development Officer to take the leadership in project pipeline globally. Provide governance throughout the various phases of a project life, including constant interactions with owners and their team on key issues. Lead integration efforts across the organization by working with relevant internal stakeholders involved in pipeline projects, such as food and beverage, wellness, Area Vice presidents, technical services and design team. Act as project timekeeper to ensure appropriate resources are spent on the right projects, maximizing impact of MO team members and reducing costs for MO and owners. Improve, track and own project management system (Smart Sheet) to ensure all information is relevant. Schedule and lead portfolio regional calls to ensure monthly tracking and discussion of key issues around pipeline. Manage all relevant contractual obligations (payments, deadlines) arising from management agreements, and negotiate with support from Development Officer and Legal changes in agreements. Be the key point of contact in the organization for asset managers/owners, and help transition to Operations. Lead project update presentations to CEO, CFO and shareholders, and ensure that MO’s CDO and leadership team are properly informed on key development issues.

Pre-Opening Transition

Ensure appropriate reflection of project status to facilitate transition to pre-opening phase with hiring of general manager. Support presentation and discussion of pre-opening budget and ensure consistency across different regions and departments to maximize efficiency. Brief and ensure understanding from GM and ExCo of key elements of management agreement.

Portfolio Management

Monitor management agreements status and negotiate extensions if needed, with support from legal team (include amendment of key commercial terms, performance tests and milestone date revisions). Ensure existing asset strategy, is reflected in asset management, and help determine based on property status, relevance in the portfolio and brand strategy when it is appropriate to discuss major renovations or changes in strategy. Monitor owners’ status in terms of debt obligations, changes in financial circumstances, changes in ownership structure and reflect and negotiate with appropriate team. Support GM and technical services in providing a clear and understood renovation project to owners with reasonable financial metrics and proper returns. Collaborate with operations, technical services and finance team on strategy and investment papers for projects that are owned or co-owned by MOHG. Capex and renovation agreements support and co-ordination.

Additional Duties to Include:

30% travel (varies throughout the year and project lifecycle) can be higher than 30% depending on the project needs. Additional duties as assigned by CDO.

EDUCATION AND EXPERIENCE

The qualified candidate has the following: 10-15 years’ experience in asset management, legal or hotel operations. 5-10 years’ experience at a senior level working with Owners. Understanding of hotel agreements, lifecycle and key financial metrics of an asset.

Advertised: 17 May 2024 GMT Daylight Time
Applications close:

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