VP Hospitality Asset Management, MSD Real Estate Partners

Firm Description

MSD Partners, L.P. (“MSD Partners”), an SEC-registered investment adviser, was formed in 2009 by the partners of MSD Capital, L.P., which was established in 1998 to exclusively manage the assets of Michael S. Dell and his family. MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments in the debt and equity of public and private companies, real estate, and other asset classes. Michael Dell and his family are substantial clients of MSD Partners. MSD Partners is headquartered in New York, with offices in Santa Monica and West Palm Beach.

MSD’s real estate group, MSD Real Estate Partners, maintains a fundamental, value-oriented approach to its real estate investments, generally seeking high-quality assets with significant barriers to entry and strong long-term growth characteristics. Since its founding in 2004, the group has committed in excess of $3.0b of equity into more than 30 real estate and real estate-related transactions.

Hospitality is a key strategy for MSD’s real estate group and its portfolio includes Four Seasons Resort Maui, which it has held since 2004, Four Seasons Resort Hualalai and Fairmont Miramar Hotel & Bungalows, both of which it has held since 2006. In June 2019, MSD acquired the 1,047-key The Boca Raton and has since launched a comprehensive transformation of the iconic property. In October 2021, MSD acquired the Naples Beach Club Florida and will soon commence construction of a mixed-use residential resort community anchored by a 216-room Four Seasons hotel. Additionally, MSD is in the early stages of developing a luxury lifestyle Auberge Resorts hotel and condominiums on Knox Street in Dallas as part of a large multi-phase development.

Please view further information about MSD at www.msdpartners.com

Description

The Vice President, Asset Management will be involved in overseeing the firm’s hospitality investments and developments. The individual will play a vital role on the hospitality investment team and be responsible for executing strategic initiatives and driving asset level performance. Specific position duties and responsibilities include, but are not limited to:

• Tracking and analyzing the performance of the underlying properties/businesses.
• Spending time (likely one week per month) in Hawaii on site with property teams, driving business plans.
• Overseeing and improving upon existing portfolio analytics and processes.
• Monitoring loan covenants and borrower compliance with investment terms.
• Making strategic recommendations based on portfolio performance.
• Maximizing synergies between Hawaii properties.
• Evaluating and overseeing capital improvement projects, including financial analysis, driving project budgets and timelines.
• Drafting materials for MSD Partners investment committee and investor communication.
• Working with external advisors such as servicers, accountants, tax experts, attorneys, and consultants.
• Interfacing with property management as well as all appropriate external constituents and the investment team to drive execution strategy and value creation.
• Representing MSD with asset-level partners, including operators, club members, and employees.
• Driving residential and club experiences and operations.
• Driving strategy and tactics around key development and redevelopment asset management priorities.

Experience

The desired candidate is likely to possess a bachelor’s degree or equivalent level qualification and/or experience in the real estate and/or hospitality industries. Expertise in hotel real estate asset management, investor relations, and finance, and an in-depth understanding of the hospitality sector are critical characteristics. It is most likely this person will have a strong background with a high caliber institutional investment management firm, hotel owner/developer, hotel operating company, or a REIT. This individual must possess a track record of value creation within the hospitality space. Specific qualifications include:

• 10+ years of demonstrated hospitality investment, operational, and asset management experience.
• Significant experience in oversight and asset management of luxury hotels, resort destinations, member’s club (golf, tennis, residential).
• Ability to oversee and drive asset level financial performance, including monthly P&L reviews and annual budget process, strong understanding of hotel operations, and hotel P&L statements.
• Demonstrated track record of creating value through the ownership of assets and/or hotel portfolios.
• Prior experience driving renovations and Property Improvement Plans, including creation of ROI analyses, financial models, and budgets; ability to oversee renovation execution and work in cross-functional teams with development, construction, and design professionals.
• Broad tool kit that brings transaction, operation, brand, and management experiences.
• Experience evaluating competitive market information and establishing performance benchmarks and best practices.
• Extensive background in reviewing, analyzing, and sensitizing financial reports and communicating results.
• Experience working with various legal documents (HMAs, Ground Leases, Loan Documents, RMAs).

Skills

In addition to the above the successful candidate will also possess the following attributes:

• Ability to perform at a high-level within a fast-paced, entrepreneurial culture with a focus on excellence.
• High emotional intelligence and interpersonal skills.
• Ability to foster strong relationships and build trust with operating and other partners.
• Strong business acumen and analytical skills.
• Motivated team player with ability to work independently, take initiative, and deliver results.
• Cultural awareness.
• Excellent communication skills.
• Highly collaborative nature.
• The highest level of integrity.
• Demonstrates high energy, intensity, discipline, and attention to detail.
• Results-driven orientation; entrepreneurial, hands-on, self-starter, who is not afraid to roll up his/her shirt sleeves.