Revantage

AVP, Accounting (Hospitality)

Job Locations US-Chicago

Who We Are

Revantage is a Corporate Services affiliate of The Blackstone Group, the world’s largest alternative investment firm.  Revantage provides a highly skilled employee base, best-in-class processes, and state-of-the-art technology to multiple Blackstone real estate portfolio companies.  Sectors include Hospitality, Industrial, Multi-Family, Office, Retail, Senior Housing, Manufactured Homes, Data Centers, Self-Storage, and Student Housing.

 

Revantage, headquartered in Chicago, is one of three global offices that includes Revantage Asia and Revantage Europe.

 

What We Value: Our Culture

Creating a culture that inspires change and momentum require the right team.  We know what it takes to lead an industry, and are looking for leaders who seek constant growth, want to excel, and continuously improve upon themselves and the industry.  The culture at Revantage is built on our shared core values and commitment to be:

 

  • Achievers – We expect high standards for ourselves and enable the success of our teams.
  • Enthusiasts - We face challenges with optimism and believe anything is possible.
  • Leaders - We commit to continuously improve our performance.
  • Learners – We learn from our challenges and successes.
  • Partners - We deliver value and positive impact to our partners.

 

Why This Role Is Valuable 

The role of AVP, Accounting – Hospitality, oversees all activities related to supervising and managing the hospitality investments owned by Blackstone, managed by BRE Hotels, and held within the BREIT and BREP Funds. The role is responsible for overseeing a team for preparing, analyzing and reporting on the financial and operating results of the hospitality investments at the asset level, investment level and a consolidated level (BRE Hotels overall or Fund level). A successful Manager of Accounting is knowledgeable about real estate principles (GAAP, SEC), has a strong business acumen and an ability to multitask internal and external requests. This role is based out of Revantage’s headquarters in Chicago, IL.

How You Add Value

  • Manages and oversees the daily operations of Hospitality Investment Reporting including overseeing and reviewing the month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness.
  • Directly supervises the following positions: Senior Accountants, Accountants, Associates and Interns
  • Reviews and analyzes accounting data and produces Monthly Operating Reports such as P&L’s, Balance Sheets, Budgets and Forecasts at the individual asset level and the consolidated portfolio level for the hospitality assets (BRE Hotels).
  • Reviews monthly portfolio forecasts and individual forecasts in conjunction with the BRE Hotels FPA team and/or BX asset manager.
  • Reviews and loads the portfolio annual budgets and individual property budgets to X in conjunction with the BRE Hotels FP&A team and/or BX asset manager.
  • Provides variance reporting to assess property performance relative to budgets or forecast.
  • Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators
  • Instrumental in the preparation of certain due diligence reports for potential dispositions or acquisitions.
  • Conducts on site visits as necessary when onboarding or disposing a property.
  • Reviews all capex draw requests and debt yield calculations prior to distribution to the lender.
  • Reviews projects assigned to staff to ensure compliance, reporting accuracy and timeliness such as the debt reporting and the FF&E Draw submission.
  • Serves as liaison with property operators and establishes meeting cadence to discuss important and timely topics.
  • Ensures all hospitality property invoices paid at the corporate level are processed and paid timely.
  • Enforces proper accounting methods, policies and principles.
  • Provides recommendations to improve systems and procedures and initiate corrective actions. Ensures direct reports are handling processes in a like and efficient manner.
  • Constructs reliable cash models to project an asset’s future performance
  • Establishes and maintains fiscal files and records to document transactions
  • Assists in the preparation and review results of annual audit findings
  • Assists with developing and documenting business processes and accounting policies to maintain and strengthen internal controls
  • Interacts with internal Revantage staff, (such as Insurance, Tax and Treasury) and external service providers to complete assigned responsibilities.
  • Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
  • Assesses and reacts to changing business conditions, in terms of their impact the organization they lead.
  • Ensures team’s processes and procedures support the department’s goals according to guidelines and policies
  • Partners with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third party accounting departments and third-party operators accounting teams.
  • Assists other PC’s during Project initiatives on an as-needed basis.

What You Bring To The Role

Required:

  • Bachelor’s Degree with a major in Finance, Accounting or closely related field
  • Minimum 6 years of experience in cost accounting, financial analysis and general accounting
  • Minimum 3 years people management experience
  • Must have hospitality accounting experience
  • Extensive experience with accounting ERP systems and other accounting software
  • Must have knowledge of US GAAP
  • Strong working knowledge of MS Office, accounting software and databases
  • Requires understanding of financial models, corporate financials and regulatory market. Drive and desire to learn new technologies and grow technical and functional skill sets
  • Passion for making business processes more efficient and successful
  • Experience with systems integrations preferred
  • Excellent communication, problem solving and interpersonal skills necessary
  • Ability to multi-task and manage shifting priorities in a fast-paced environment
  • Strong attention to detail and ability to work both independently and in a team environment

 Preferred:

  • Master’s Degree
  • Real estate knowledge
  • CPA certification

 

Perks for You

  • Competitive salary, overall compensation and 401(k)
  • Work-life balance offerings include:
  • Remote work policy
  • Productivity Hours – weekly meeting-free work time
  • Bi-weekly Summer Fridays
  • In-house and external learning & development opportunities
  • Generous health insurance and wellness benefits

 

EEO Statement

Our company is proud to be an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email talent@revantage.com.

 

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