Director of Finance
Loews Hotels has recently acquired the Hotel 1000, our first property in Seattle, and we are currently seeking a Director of Finance to join the Executive Team. Finance will play a pivotal role in the successful transition of the hotel. We will transition the property as Hotel 1000, operated by Loews Hotels and Resorts, while planning lobby and guest room renovations.
Hotel 1000 consists of 120 guest rooms, approximately 12,000 square feet of meeting space, a full-service spa, virtual Golf Club, and popular BOKA Restaurant + Bar. The property is located in the heart of downtown Seattle, steps from the waterfront along Elliott Bay, and conveniently centered near Pike Place Market, Seattle Art Museum, the business district and lively and historic Pioneer Square.
The Director of Finance is responsible for overseeing and performing all financial processes for Hotel 1000.
• Financial Statements; Responsible for the preparation of the monthly financial statements, coordinates monthly closing activities, prepares and distributes financial reports including: P&L, supplemental reporting to Loews, ownership, and lenders, Also interprets and analyzes monthly financial statements and presents to management, monitors the revenues/expenses and ensures accurate recording of information in accordance with Loews established guidelines, evaluates and determines course of action to improve hotel’s performance on scorecard.
• Monthly forecasting: Responsible for the preparation of the 30/60/90 day forecast each month. Revises future projections based on the latest key performance indicators. Makes recommendations to the General Manager in achieving the highest level of financial performance while balancing service standards.
• Budget Planning: Responsible for the preparation of the operating and capital budget plans, commentary, analysis. Provides guidance and direction to all department and division heads in the preparation of their respective budgets ensuring that the submission to ownership meets expectations.
• Responds to all financial requests and inquiries and serves as the liaison to the property on all matters related to the hotel.
• Manages the accounting functions to ensure optimal efficiency of financial operations and adherence to Loews SOPs, Interviews, selects, trains, appraises, coaches, counsels and disciplines department Team Members according to Loews standards and follows New Hire Training and on-going Star Service Competency programs in accordance with hotel policy, also evaluates individual TM performance, determines areas in need of improvement or requirements for advancement, establishes goals, objectives and training needs required to achieve department and/or property specific targets.
• Manages following aspects of the Accounts Payable Function to include: approval and routing of all invoices in doc-link , approval of new vendor requests, approval of wire transfer requests, researches all invoice discrepancies, monitors invoices through the processing cycle, handles multiple vendor inquiries, monitors receiving workflows and vendor aging.
• Labor Reporting: ensures the integrity and accuracy of Daily Labor Report distributed, prepares the Executive Labor Summary for Property Management, produces necessary labor reports for Weekly Labor Management Meetings and makes recommendations to the General Manager and Regional Director of Finance as required.
• Audit/Financial Controls: establishes and oversees all audit and internal financial controls to include purchasing, cash handling, receipts, disbursements, expendable/fixed asset inventories, payroll and employee records to insure policies are enforced according to Loews standards.
• Manages F&B Cost Analyst in oversight of F&B Cost Control: responsible for oversight of F&B Cost Analyst assisting Chefs in monitoring food/beverage costs by ensuring necessary inventory reports are available to management, oversight of physical inventory procedures, review integrity of data in ADACO, investigates discrepancies and cost variances to budget and adjusts Micros POS menu and pricing in keeping with changes requests
• Compliance / General Accounting: approves all purchase orders, payroll submittals, accounts payable invoices, manual checks, balance sheet and bank reconciliations, month end journal entries, bad debt write offs, all Home Office corporate intercompany and inter-hotel charges.
• Promotes and applies teamwork skills at all times
• Notifies appropriate individual promptly and fully of problems and/or unusual matters of significance
• Executes emergency procedures in accordance with hotel standards
• Complies with required safety regulations and procedures
• Attends appropriate hotel meetings and training sessions (may be required to work varying schedules to reflect business needs)
• Complies with hotel standards, policies and rules
• Recycles whenever possible
• Remains current with hotel information and changes
• Complies with hotel uniform and grooming standards
• Other duties as assigned
Loews Hotels is a vibrant collection of one-of-a-kind hotels with distinct personalities. Each hotel and resort offers high-quality accommodations, impressive surroundings, personalized service, and thoughtful amenities for a luxurious guest experience. As a company we care about our guests, our community and our team members.
Headquartered in New York City, Loews Hotels manages properties in most major markets in the U.S. and Canada. Each property goes beyond Four Diamond standards to provide guests with a supremely comfortable, uniquely local travel experience at a great value. Loews Hotels boast prime locations in the cities of New York, Washington DC, Denver, Los Angeles, Nashville, Philadelphia, Annapolis, Montreal, and Quebec City, as well as world-renowned vacation destinations such as Miami's South Beach, Universal Orlando, New Orleans, Tucson, St. Pete Beach, and California's Coronado Island. Loews has established some of the industry's most innovative and successful travel programs, including Loews Loves Kids for families and Loews Loves Pets for discerning animals on the road.
At Loews Hotels, our team members' commitment to our guests and dedication to our communities is cherished. We seek genuine individuals who are able to engage and delight our guests by providing Four Diamond AND MORE service. We invest in training and development opportunities for all team members, so they may grow and develop as individuals. We embrace diversity at our core and offer the opportunity for all team members to reach their potential as professionals. At Loews Hotels, we seek to create a dynamic culture that makes work interesting, challenging, fulfilling and fun.
As part of our commitment to our team members, Loews Hotels is proud to offer competitive compensation and benefit plans tailored to each marketplace. These include:
- Pay that meets or exceeds area standards
- Retirement (401-K) and incentive plans
- Medical and dental coverage
- Short and long-term disability
- Life insurance
- Holiday and vacation pay
- Team member assistance plans
- Career development programs
- Tuition reimbursement programs
Loews Hotels is an Equal Opportunity Employer committed to a diverse work culture, M/F/D/V