Director of Finance - Terranea Resort

Property: Terranea Resort Rancho Palos Verdes, CA	Managed by: Destination Hotels & Resorts Englewood, CO

Scope of this Position

• THE RESORT
• Rising from the magnificent bluffs on the wildly romantic Palos Verdes Peninsula is Terranea Resort, an exquisite resort, featuring world-class amenities including a 25,000 sq. ft. spa, executive golf academy, meeting & event facility, gourmet dining and interactive children's center.
• Located within the resort is a limited collection of Ocean Villa, Ocean Casita and Ocean Bungalow properties that will provide owners an unparalleled seaside escape, as well as access to all of the amenities of this remarkable destination.
• THE BUSINESS
• The design and development of Terranea Resort ("Terranea") can be attributed to the talents of the Lowe Destination Development under the Lowe Hospitality Group, a division of Lowe Enterprises.
• For more than 30 years, Lowe Enterprises, (a privately held, Los Angeles-based entity) has planned, developed and operated luxury resorts and residential communities across the United States, such as the Resort at Squaw Creek, The Reserve, and SunRiver Resort.
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• For more information about Lowe Destination Development ("LDD"), visit www.lowedd.com.
• Just click on the link at the bottom of the employer profile attached to this advertisement.
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• As part of the Lowe Hospitality Group, Destination Hotels & Resorts will manage the operations of Terranea Resort as well as the Ocean Villas, Ocean Casitas and Ocean Bungalows at Terranea.
• Widely recognized as one of the most accomplished resort management companies in America, Destination Hotels & Resorts currently operates 30 independent, luxury and upscale hotels, resorts and golf clubs across the nation.
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• For more information about Destination Hotels & Resorts, visit their website at www.destinationhotels.com.
• Just click on the link at the bottom of the employer profile attached to this advertisement.
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• OUR CULTURE
• Destination Hotels & Resorts ("DH&R") fosters a creative, entrepreneurial and energetic work environment where people come to work and have fun.
• We value passionate people who love to be challenged and desire the freedom to contribute to the overall success of the organization.
• Your role will be integral to the success of our company.
• We strive to create a work place Culture that values family, work life balance and community.
• We help develop our associates and provide support for them to grow their careers with DH&R.
• Our associates are proud to work here!
• MISSION
• Play an ongoing role in the creation, execution and refinement of profitable financial strategies designed to maximize opportunities for Terranea, while also ensuring excellence in the Company's day-to-day financial accounting, reporting, analytical and planning functions, as well as the integration of best practices.
• MISSION-CRITICAL OBJECTIVES
• Provide clear leadership and direction to the Resort finance team.
• Create an accountable, communicative, team-oriented environment such that the finance team is striving to achieve and exceed expectations.
• Perform in a manner fully aligned with DH&R's core values and overall strategic objectives.
• Communicate and work effectively with other key executives across various functional lines to build and maintain productive relationships.
• Perform all of the above with the highest standard of excellence and integrity.
• REPORTING RELATIONSHIPS
• The Director of Finance will be employed by a wholly owned subsidiary of Destination Hotels & Resorts.
• The position reports directly to the assigned Regional Controller for DH&R.
• This position also entails close working relationships with other key members within the Company, including the Managing Director and General Manager of the Resort, the Regional Vice President from LDD and the DH&R finance, technology and operations groups.
• The Director of Finance will be a member of the Resort Executive Committee.
• The Director of Finance will also have significant communication relationships with the Terranea investors, lenders, partners and real estate owners.
• Reporting to this position will be Resort Finance and Accounting, Technology, Development Finance and Accounting and related property personnel.
• FUNCTIONAL RESPONSIBILITIES
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• IMMEDIATE
• 1. Actively invest the time and energy necessary to become familiar with Terrenea, the investors and partners, the lenders in all aspects of the project including the underlying vision, business model, culture and values, competitors, financial data and projections, budgets, timelines, long-range plans, and key priorities.
• 2. Recruit and build the finance team while getting acquainted with other Executive Committee members.
• 3. Review the business plan, strategy, timelines and budgets for the Resort, including the definition, prioritization and implementation of specific capital expenditures, and make suggestions where appropriate.
• 4. Gain an understanding about Lowe Enterprises and Destination Hotels & Resorts, including the objectives for each and related entities.
• ONGOING
• Due to the size and complexity of the Resort and development operation, the Director of Finance position is heavily supported - in executing the below-listed items - by senior finance managers (Resort Operations Controller and Development Controller) who oversee the "day to day" in these respective areas, with appropriate levels of staff for each.
• The Director of Finance operates at an oversight level, to assist and support these areas of finance, and acts as a "Business Partner" to the Resort Operations and development teams.
• 1. Direct and assume responsibility for proper execution of the Resort's accounting practices, maintenance of accurate financial records, and the timely preparation of financial reports. Utilize standard reporting, as well as insightful comprehensive metrics, to drive continuous improvement for the Resort. This responsibility also includes Resort financial planning, budgeting, accounting and cash management.
• 2. Assist in nurturing the important relationship with the Resort owners. Be responsible for supervising and coordinating reporting as required. Provide timely, concise monthly reporting for the Resort, custom reports as requested, respond quickly to questions or requests and participate in Partner and other appropriate meetings.
• 3. Provide oversight to accounting functions required by HOA and Condominium Owners. Act as liaison between Resort financial operations and the HOA board. Ensure that legal, fiduciary, reporting and financial service requirements of unit owners are satisfied.
• 4. In conjunction with the Managing Director, ensure that the Management Agreement, Development Agreement, LLC Agreement, lending agreements and any related legal requirements are carried out.
• 5. Work with the appropriate property and corporate personnel to prepare the Capital Improvement and Development budgets. Ensure that all of the capital expenses have been approved, and are properly classified and tracked as required by the corporate office.
• 6. Complete the year-end audit process. Review and approve all reconciliations and audit work papers. Coordinate external auditor's visits, respond to auditor requests, approve any and all adjustments, reconcile the audit numbers to the property numbers and approve the final audit.
• 7. Review historical and projected cash flows. Take required actions to ensure cash flow is appropriately managed. Communicate to the responsible Property Operations executive, Regional Controller and others, including owners, as necessary.
• 8. Supervise and participate in the preparation and review of all monthly and annual financial statements. Investigate, review and analyze the variance explanations, and involve the department managers in this process. Ensure all narratives are well written and explain why the variance occurred.
• 9. Interpret operating results as they affect the financial aspects of the Resort, making specific recommendations that will result in cost reductions, profit improvement and benefit to the Resort overall. Utilize staff as needed to conduct related analyses. Coordinate improvements with the Vice President, Hotel & Resort Finance or Regional Controller, and with Property Operations.
• 10. Organize and drive the annual budgeting process for the Resort. Monitor and assist in preparing the property budgets, capital budgets, development budgets and business plans. Ensure accuracy and completion of the budgets on or before the due date. Aid in the preparation and final review of the annual business plan.
• 11. Check appropriation requests against approved budgets prior to committing funds; exercise accounting control to ensure that budgeted expenditures do not exceed authorized levels.
• 12. Supervise the Development Finance and Accounting function including participation in the review and analysis of the development pro forma and coordinating, obtaining and exonerating payment and performance bonds for completion of off-site infrastructure improvements and escrow deposits.
• 13. Coordinate integration of the development financial activity into the operating activity with the result being concise, timely reporting for the overall Resort.
• 14. Have a sound understanding of the Resort's operational and back office systems as well as Microsoft Office products.
• 15. Have a sound understanding of the forecasting system and the tools from Revenue Management. Review monthly and quarterly property financial forecasts and evaluate for reasonableness. Participate in the Sales strategy meetings. Be proactive and timely in alerting Property Operations and the Vice President, Hotel & Resort Finance as deemed necessary on any/all significant variances from budget.
• 16. In conjunction with the Property General Manager and other property personnel, manage and regulate all of DH&Rˇ¦s internal controls at the property. Review the internal and external audit reports and assist in corrective actions. Monitor progress of the audit process.
• 17. Create a positive working environment that is enjoyable and highly productive. Hire, fire, build and lead a high-performance team that is service and results oriented, committed to the timely delivery of accurate information. Provide career coaching to Resort finance staff and others as may be assigned. In conjunction with Property Operations and the Vice President, Hotel & Resort Finance, employ customized evaluations, career planning sessions and cooperative goal setting.
• 18. Keep the Vice President, Hotel & Resort Finance informed as to the status of all material issues and related successes/problems. Perform special projects as required.
• 19. Constantly promote best practices, and perform all of the above with the highest standard of excellence and integrity.
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• COMPENSATION
• Destination Hotels & Resorts is committed to attracting the best-qualified Director of Finance for Terranea Resort, and is willing to offer a compensation arrangement commensurate with this outstanding opportunity.
• The package will be tailored for the final candidate and includes an excellent base salary plus incentive cash compensation, a full package of company-paid benefits, and relocation.
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Job Requirements

• Must be a citizen of this country or possess a valid work permit.
• QUALIFICATIONS
• The Director of Finance must have a minimum of 15 years of finance experience in the hospitality and real estate industry.
• He/She must have a proven track record of success developing strong and innovative Finance organizations in a fast-paced resort environment.
• Experience in resort development and homeowner associations is ideal.
• Experience in opening a large resort is required and experience with complex capital and debt structures is ideal.
• An undergraduate degree in accounting is required; an MBA and/or CPA are preferred.
• The Director of Finance must be an effective leader, an extremely well organized, take-charge professional who makes things happen, and who has a strong orientation to quality, accuracy, and timeliness.
• The individual must have seasoned business savvy and be value-added, constantly maintaining a "big picture" perspective relative to long-term objectives as well as current Resort operations, performance, profitability and goal achievement.
• At the same time, the Director of Finance must be entrepreneurial and detail-oriented; willing to roll up his/her sleeves and is hands-on whenever necessary.
• He or she must have an analytical mind sufficient to assess business performance and opportunities, as well as to evaluate problems and develop solutions.
• The Director of Finance must be a polished and dynamic team player, an open, willing communicator who is not uncomfortable or shy in dealing directly with challenging issues.
• Effective communication is a key ingredient to success in this position.
• The Director of Finance must also be professional and ethical, demonstrating personal integrity, loyalty, tact, sound judgment, openness and diligence.
• CRITICAL ATTRIBUTES
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• APPROACHABILITY:
• Dynamic and outgoing, yet down-to-earth, available and receptive. Consistent,understanding and fair.
• ADAPTABILITY:
• Able to adjust to change, open to new ideas, willing to take on additional responsibilities and able to perform in a deadline driven environment.
• Flexible and resourceful; "can-do" attitude.
• COMMON SENSE:
• Displays innate intelligence and common sense.
• COMMITMENT:
• Goal, growth and quality-oriented in his/her business approach.
• Drives for results and success while actively and effectively serving as a role model for the company's guiding principles.
• COMMUNICATION SKILLS:
• Has effective written, verbal and listening skills.
• Shows respect and interacts with associates at all levels in a manner that is constructive and supportive.
• Open-minded and empowering.
• LEADERSHIP:
• Proactive in defining roles and accountabilities, as well as in evaluating, mentoring, coaching and counseling members of the Resort finance team.
• Sets a positive example and is a great motivator of people around key objectives.
• PERSEVERANCE:
• Drives through change and adversity by tackling tough challenges without hesitation.
• Undaunted; maintains determination and resolve no matter how arduous the situation.
• Works smart; doesn't burn out self or others
• PERSONABLE:
• Clearly enjoys working with and interacting with others.
• Has a good sense of humor.
• JUDGMENT AND FOCUS:
• Keeps important priorities in the forefront and never loses sight of the "big picture".
• Carefully evaluates all of the factors and assesses the potential outcome before making a decision.
• PROBLEM SOLVING:
• Always part of the solution and not part of the problem.
• Strives for continuous process improvement and best practices.
• Is analytically astute and able to help maximize the value of the Resort.
• RESPONSIBILITY AND ACCOUNTABILITY:
• Demonstrates a sense of urgency and commitment in regard to deliverables and deadlines.
• Highly responsive to owners, guests and employees.
• Owns the work product and is committed to the quality, accuracy and timeliness thereof.
• PURPOSEFUL:
• Astute and pragmatic, able to set ego aside and focus on what's best for the Resort's owners, guests and employees.
• INITIATIVE:
• Takes the initiative in leading, communicating, offering service, and in solving problems.
• VISION:
• Forward-thinking; develops goals and plans that extend beyond current realities and capabilities.

Compensation

Salary	Highly Competitive Salary
Bonus	Yes

Benefits

Paid Vacation	Yes
Personal Leave	Yes

Medical Insurance Dental Insurance Disability Insurance Life Insurance Vision Insurance Matching 401k - immediately vested Company Hotel Travel Benefits Medical Flex Spending Accounts

Employee Referral Program up to $5,000 Fantastic Work Environment Paid Vacation Paid Holidays Personal Leave An Equal Opportunity Employer We provide equal opportunity without regard to race, color, national origin, religion, sex, age, marital status, or disability.

How to Apply

Job #116562 — Director of Finance - Terranea Resort

Submit your Résumé or Job Application online Build your resume and manage your career search online with the Hospitality Online Career Toolkit — it’s free, and confidential.

Terranea Resort
6610 Palos Verdes Drive South, Suite B Rancho Palos Verdes, CA 90275

Management

Managed by

Destination Hotels & Resorts - Englewood, CO

Property Description

Welcome to Terranea Resort Slated to open mid 2009, Terranea Resort gives one a sense of escape. Set in the grandeur of a Mediterranean estate on the magnificent Palos Verdes peninsula, the 582-room hotel includes guestrooms, suites, bungalows, Casitas and Villas and a host of world-class amenities. The classic California experience will continue through all the resort’s amenities including both the casual and fine dining restaurants; the bluff-side bar with unobstructed views to Catalina Island; the 25,000-square-foot oceanfront Spa with 24 treatment rooms, fitness facility, beauty salon and yoga studio; the nine hole, par 3 golf course on property; three swimming pools including the main pool with slide and children’s area, spa lap pool and oceanfront adult pool; 63,000 square feet of indoor meeting and event space and 75,000 square feet of outdoor venues with breathtaking ocean views; and an array of shopping boutiques. The Tranquility of a Place Apart Rising from a magnificent bluff along one of southern California’s most scenic and coveted coastlines, comes Terranea (ter-a-NAY-a). Located on the magnificent Palos Verdes peninsula, comes an exceptional resort that cares deeply for its environment, embraces its natural shoreline setting and promises to deliver a distinctive, classic California lifestyle experience. Gracing the former site of Marineland, Terranea Resort, and the Ocean Villa and Ocean Casita resort homes, embrace its setting. Dramatically perched above the Pacific on 102 pristine acres, and offering 270 degree oceanfront views, the vision for this amazing property encompasses four important connections: Sea, Nature, History, and Architecture. Terranea’s unparalleled setting and relaxed, gracious service set the stage for its unrivaled destiny to become California’s premiere coastal resort destination. Location This captivating retreat gives one a sense of being enveloped in a world of tranquility. Terranea is just 20 miles from both Los Angeles International and Long Beach airports, is within 30 minutes of many of the sights, culture and offerings of Los Angeles, one of the world's largest metropolitan areas and America's second largest city, and 45 minutes to the excitement of Orange County. Terranea is the first and only luxury oceanfront resort on the Palos Verdes peninsula and its presence establishes for the first time the Palos Verdes peninsula as a leisure and business travel destination. Spa & Fitness A blissful sanctuary, the Resort Spa nestles on the edge of the Pacific. This world-class wellness facility will feature an extensive menu of treatments and therapies. The Spa at Terranea will offer 24 treatment rooms in a 25,000-square-foot, state-of-the-art facility, including a fitness room, outdoor lap pool, hair salon and men's and women's private locker rooms with garden showers, sauna, and steam room. Golf A testament to today's preference for shorter courses, a nine-hole short course is an enjoyable test of one's skills calling for a few irons and about two hours of one's day. The course also features golf education and short game enhancement options. The Trump National Golf Course is located just three miles south on Palos Verdes Drive West. Tennis Two outdoor tennis courts are another way to fit some exercise into your day at Terranea Resort. It's a spectacular location with gentle breezes making court play a pleasure.

Why People Like to Work for Us

WHO WE ARE: Destination Hotels & Resorts began in 1972 with the development and management of condominium resorts. Since then, we have grown to become the country's second largest independent hospitality management company with more than 7,500 employees, over 7,000 guest rooms, and more than $1.5 billion in assets under management. We are a subsidiary of Los Angeles-based Lowe Enterprises, a privately-held, national real estate organization active in commercial and hospitality property investment, management, and development. Since its inception, Lowe has been responsible for more than $6 billion in prominent real estate assets nationwide. Destination Hotels & Resorts is unique in the lodging industry in that our primary mission is to create value for guests, investors, and associates in each of our hotels and resorts. We do this by developing an innovative, customized business and service plan for each property we manage and combining it with the sales, marketing, and operating resources of a company many times our size. This lodging industry expertise, together with the real estate savvy of Lowe, has allowed us to bring a different perspective to the hotel management business. OUR CULTURE: Destination Hotels & Resorts fosters a creative, entrepreneurial and energetic work environment where people come to work and have fun. We value passionate people who love to be challenged and desire the freedom to contribute to the overall success of the organization. Your role will be integral to the success of our company. We strive to create a work place culture that values family, work life balance and community. We help develop our associates and provide support for them to grow their careers with Destination Hotels & Resorts. Our associates are proud to work here!

Property Statistics

Number of rooms 400 Sq. ft. of meeting space 60,000

Food & Beverage Outlets

Restaurants  Casual/3 meal  Fine Dining  Other

Lounges  Lounge  Poolside

Amenities

Hotel Amenities
3 Outdoor Pools 2 Outdoor Tennis Courts
Spa Amenities
22 treatment rooms in a 25,000-square-foot state-of-the-art facility Fitness room	Outdoor lap pool Men's and women's private locker rooms with garden showers, sauna, and steam room

Internet Links

Terranea Resort http://www.terranea.com/

Destination Hotels & Resorts http://www.destinationhotels.com/

Lowe Destination Development ("LDD") http://www.lowedd.com

Map

How to Apply

Job #116562 — Director of Finance - Terranea Resort

Submit your Résumé or Job Application online Build your resume and manage your career search online with the Hospitality Online Career Toolkit — it’s free, and confidential.