Director of Finance

Welcome to Pyramid Global Hospitality, where people come first. As a company that values its employees, Pyramid Global Hospitality is dedicated to creating a supportive and inclusive work environment that fosters diversity, growth, development, and wellbeing. Our commitment to a People First culture is reflected in our approach to employee development, employee benefits and our dedication to building meaningful relationships.

Pyramid Global Hospitality offers a range of employment benefits, including comprehensive health insurance, retirement plans, and paid time off, as well as unique perks such as on-site wellness programs, local discounts, and employee rates on hotel stays. In addition, Pyramid Global Hospitality is committed to providing ongoing training and development opportunities to help our people build the skills and knowledge they need to advance their careers.

Whether you are just starting out in the hospitality industry or are a seasoned professional, Pyramid Global Hospitality offers a supportive and collaborative work environment that encourages growth and fosters success, in over 230 properties worldwide. Join their team and experience the benefits of working for a company that values its employees and is committed to creating exceptional guest experiences.

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About our property:

Pyramid Global Hospitality (“Pyramid”) is a leading hotel management company, operating in the US, Caribbean, and Western Europe. With portfolio revenues exceeding $3 billion, Pyramid manages 230 hotels, resorts, and conference centers, both branded and independent. The firm maintains offices in Boston (Headquarters), Cincinnati, Houston, and London. Additional information about Pyramid can be found at www.pyramidglobal.com In 2021, Pyramid and Benchmark Resorts and Hotels merged to add an additional 59 Managed or Asset Managed Resorts and over 10,000 additional team members. The two companies share the same company culture, values and philosophies. We are growing and opportunities abound! What really sets Pyramid apart from our competitors is our reputation as an employer. Professional growth is not just possible throughout the company but planned and encouraged. The Leadership Team at Pyramid consider team member development its first priority, understanding that success is only achieved in a workplace where every contributor is respected and recognized. This is why we deliver superior results. There is opportunity to work directly with senior leaders, experience stretch assignments and learn hospitality management from industry giants. You will come to know a distinctive people centric culture that is at the core of all we do. The decisions we make and the paths we take are bound by a commitment to our Owners, Associates, Customers and the Communities where we work. We attract the most talented associates in the industry, and actively encourage candidates with a “hospitality spirit” who may be thinking about a career change to join our team.

What you will have an opportunity to do:

The Director of Finance – Transitions and New Development is a key financial leadership position within the Regional Finance and Transitions team. The position will support the smooth set up and transition of finance and accounting functions across all properties newly entering or exiting Pyramid’s portfolio and will assist newly onboarded property teams as they learn and adapt to Pyramid systems and processes. This will include support of and collaboration with owners, Directors of Finance, operations teams and Pyramid’s Central Accounting Office (CAO) in forecasting, budgeting, managing cash, labor management, reviewing monthly financial statements, reviewing and optimizing the control environment, training, and facilitating ad hoc analyses.

This position will report to the VP Finance, Transitions and New Development and will work very closely with others across the Hotel Accounting and Transitions teams to ensure appropriate coordination of all transition and new development pre-opening activities.

New Development Properties

• Train newly onboarded property leaders on relevant operations and financial analysis systems and procedures and provide guidance on opportunities to improve their hotel’s financial performance.
• Develop the pre-opening budgets and stub year operating budgets.
• Coordinate the tracking of expenses and budget vs. actual reporting during the pre-opening period. Prepare and update forecast vs. pre-opening budget.
• Manage the post-opening period to:
  • Assist and train the property team on Pyramid support systems and how to leverage them to their advantage.
  • Assist the property team to develop any specialized ownership reporting requirements, as required.
  • For properties requiring additional support, provide and coordinate training and assistance as needed to resolve any lingering challenges.
• In coordination with CAO, monitor the monthly closing process and assure that financial statements are presented accurately and on a timely basis during the Director of Finance for Transitions and New Development’s period of involvement/oversight.
• Establish and monitor the implementation of internal control systems on property.
• Review the property cash flow forecast and assist with the presentation to ownership.
• Coordinate with the Assistant Controllers and Accountants in Pyramid’s Central Accounting Office (CAO) in the provision of centralized accounting support services. Assist the property in resolving issues raised by the CAO.

Transition Properties (In & Out of Portfolio)

• Import and mapping of historical financial information into Pyramid systems and chart of accounts
• Lead the income journal mapping process to ensure recently transitioned in hotels follow USALI and GAAP standards.
• Coordinate with VP of Finance, Transitions & New Development in the identification and placement of task force staffing needed to facilitate transitions or fill open property level accounting positions.
• Directly support the strict implementation and completion of transition processes and check lists, coordinating a thorough hand-off with Regional Finance leaders when appropriate to ensure process completion and rapid property stabilization.
• Provide clear direction, continual training, and fair and objective feedback to property leadership throughout the post-transition process
• Coordinate with PGH’s HR and corporate payroll teams to ensure smooth, timely and accurate processing of payroll, sales & management incentive compensation, stay bonuses, separation payments, etc. during property entrance and exit.
• Support PGH Treasury team in the timely opening of hotel bank accounts (to include MIDs set-up/transition) in compliance with hotel management agreements and loan documents.
• In coordination with Regional Accounting leaders, ensure property staff are fully and efficiently trained on accounting tools, systems, processes, weekly reporting and PGH standard operating procedures after transition.
• Timely complete the accounting sections of due diligence reports and support other disciplines’ completion by providing data and/or analysis as needed.
• Develop and initiate the implementation of comprehensive and actionable 30/60/90 day post-transition accounting task lists.
• Assist in the preparation of stub period budgets for recently transitioned properties.
• Timely develop and (in collaboration with CAO) administer, track and close out transition reserves for properties transitioning out of PGH management.
• Coordinate any PTO or sick balance verification in situation where these balances are being rolled-over
• Coordinate with buyers and sellers in the timely and accurate development of sale proration schedules as may be required for both incoming and outgoing hotels as prescribed by associated Purchase & Sale Agreements.
• In coordination with Pyramid Risk Management team and subsequent accounting leaders, confirm all insurance processes and SOPs are in place for new properties.
• In collaboration with transition and regional operations leaders, confirm proper insurance certificates are received and reviewed with Controller/GM. Train property teams on the proper implementation of insurance incident documentation and reporting in coordination with Pyramid’s Risk Management team.
• Coordinate payment or alternative resolution of late-arriving bills/invoices after PGH exits.
• Coordinate and execute the smooth handover of accounting oversight to the RVP of Finance.
• Assist in facilitating data requests from PGH team members, incoming managers and property owners as needed.
• Other items as may be assigned by the SVP of Hotel Transitions or Finance Operations Team.

What are we looking for?

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This is a remote based position, requiring the ability to travel for business and work on-site at hotel properties up to 75%.

EDUCATION and/or EXPERIENCE

• Four-year college degree in a business curriculum to include Intermediate Accounting and Financial fundamentals.
• At least 10 years of accounting or finance experience, with increasing management responsibility in hotel finance and accounting, including time as a Director of Finance. Experience operating in a centralized accounting environment preferred.
• Developed accounting, finance and analytical skills include experience with cash management, forecasting, budgeting, revenue management strategies, long-term capital expenditures planning and project management skills.
• Resourceful in solving problems, leveraging available resources to get results.
• Translates business needs into what needs to get done; ensures that all work is completed in a comprehensive and timely manner; maintains high performance standards; works effectively by using a highly collaborative style.
• Supports, manages and initiates change within the organization, taking steps to remove barriers, improve processes or to accelerate property stabilization.
• Actively pursues learning and self-development to enhance personal, professional and business growth; shares learning.

Compensation:

$120,000

$130,000

Pyramid Global Hospitality is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

Actual compensation packages are based on a wide array of factors unique to each candidate, including but not limited to skill set, years & depth of experience, certifications and specific office location. This may differ in other locations due to cost of labor considerations.