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Chief Accounting Officer - Hotel/REIT

Memphis, TN
Chief Accounting Officer - Hotel/REIT industry

**THIS OPPORTUNITY IS LOCATED IN PHOENIX, AZ**

Our Southwest US-based client is one of the largest, fastest growing and privately held hotel investment and real estate owner/operators in the United States. Headquartered in Phoenix, AZ, our client owns and operates 20,000 keys and 80+ properties located in 29 states, among other hospitality and real estate interests. Their hotel portfolio carries major brands, including those of Hilton, Marriott, and IHG.  With a diverse selection of real estate interests, this client is seeking a confident, experienced Chief Accounting Officer (“CAO”) to lead and build out its financial reporting and technical accounting functions.  Based on the company’s growth and ongoing investments, they expect to consider a multitude of near-future transactions where the CAO will play an integral role.



POSITION OVERVIEW:
The Chief Accounting Officer will lead the Company’s Accounting function and will be a key member of the Company’s management team.  He/she should expect to interact extensively with the Company’s other departments, Board of Directors, bankers/investment bankers, and other expert outside advisors. 



KEY RESPONSIBILITIES:
  • Lead Company’s efforts to enhance/formalize the operations of the Accounting function to facilitate the Company’s ability to execute a variety of strategic transactions, potentially including an initial public offering. 
  • Partner with CEO/CFO to review staffing and build REIT finance and accounting teams capable of supporting a variety of strategic initiatives
  • Lead efforts with respect to all facets of financial reporting, including establishing well-documented systems of internal controls, drafting and reviewing GAAP financials, overseeing systems, etc.
  • Ensure that implemented controls, systems, financial statements, and disclosures all facilitate the ability of the Company to convert to a REIT structure and potentially a public company format.
  • Review accounting systems and determine any enhancements that would improve controls, efficiencies, and ability to report results.  Lead efforts to implement any changes/upgrades.
  • Collaborate with other Senior Executive team members to analyze accounting and tax implications for all material business transactions/decisions (e.g., acquisitions/dispositions, consolidation, impairment analysis, purchase accounting, FFO/AFFO calculations, etc.).  Document related accounting positions and coordinate with external auditors. 
  • Establish efficient processes and procedures that facilitate timely reporting to management and would also enable the Company to meet strict  reporting timelines.
  • Coordinate with VP of Finance to oversee treasury management, loan compliance and reporting, major agreement reporting and compliance functions.  Provide support, as needed, for financing transactions.
  • Coordinate with VP of Tax to oversee REIT and partnership tax compliance/planning, and transaction structuring.
  • Manage audit process and ensure that quarterly reviews and year-end audits are executed efficiently and cost-effectively. 
  • Assist with closely related hospitality entity’s transition to SOC 1 compliance.
  • Monitor technical accounting, regulatory, and financial reporting developments to ensure Company maintains compliance with current and developing standards and regulations.  Represent the Company in industry groups (e.g., NAREIT, etc.) as appropriate and required.
  • Maintain dialogue with Board of Directors regarding accounting and other financial management issues.  If required, participate in formation of Audit Committee and drafting of related charter. 

EDUCATION/EXPERIENCE:
  • BS in Accounting or related major with strong accounting content.
  • Demonstrated experience with real estate investment accounting and managing an accounting function.
  • Big-4 Accounting training highly preferred
  • Substantial experience with public companies and related SEC filings
  • CPA required
  • Master’s in Accounting or MBA preferred, but not required

REQUIRED SKILLS & TRAINING:
  • Strong understanding of good accounting processes and controls;
  • Strong technical expertise and problem-solving skills;
  • Demonstrated understanding of public company accounting and reporting requirements;
  • Experience with real estate investment entities.  Hotel experience preferred;
  • Good understanding of real estate and other GAAP/Tax differences;
  • Solid understanding of IT systems and capabilities with the ability to recognize and implement opportunities for processing and/or reporting improvements;
  • High intellectual curiosity – Interest in understanding the business and its drivers as well as understanding new transactions and their impact on the business. Innovative and open to new tasks;
  • Leadership – able to build and develop a strong team.  Able to work across functions to achieve strategic objectives.  Collaborative and transparent.
  • Demonstrated high integrity;
  • Strong work ethic;
  • Ability to work independently and prioritize projects that are mission critical;
  • Experience in self-directed management of projects and/or processes;
  • Excellent interpersonal skills and a professional manner;
  • Team player attitude and ability to train and mentor others;
  • Confidence, enthusiasm and high energy;
  • Great communication skills, both verbal and written;
  • Sensitivity to and respect for the confidential nature of the subject matter of the organization;

COMPENSATION AND RELOCATION:
CORDIA can share more details, but the client will be providing a highly competitive compensation, benefits and relocation package for the chosen candidate.


CONTACT INFORMATION:
Nat Jones, Partner @ CORDIA Resources
njones@cordiaresources.com
Cell: 703-994-1697



 

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