Summer Intern, Asset Management - Hotels

Company Description:

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 240 existing properties, Lightstone’s over $12 billion portfolio currently includes over 16 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

POSITION OVERVIEW:

The Asset Management team plays a crucial role in optimizing the performance of our hotel portfolio, driving value creation, and ensuring long-term success. A summer intern would provide essential support to the team, contribute to ongoing initiatives, and gain invaluable hands-on experience in the field of hotel asset management. Below, is an outline how an intern can assist the team and the professional growth opportunities it can offer.

This is a full-time, non-exempt role running from approximately June 15th to August 14th.

ESSENTIAL FUNCTIONS:

• Data Analysis and Reporting:
  • Assist in compiling and analyzing monthly property performance data, including revenue, expenses, and key performance indicators (KPIs)
  • Assist with the creation dashboards and visualizations to present data trends to senior leadership
• Market Research and Benchmarking:
  • Conduct research on market trends, competitive landscapes, and economic indicators to support decision-making
  • Assist in benchmarking portfolio performance against industry standards
• Investment Underwriting Support:
  • Aid in underwriting potential acquisitions or dispositions by gathering and analyzing relevant financial data
  • Prepare sections of investment memos or for Investment Committee.
• Project-Based Contributions:
  • Collaborate on specific initiatives, such as cost-saving programs, renovation analyses, or ROI capex projects

COMPETENCIES AND EXPERIENCE:

• Prior experience to hotel operations a plus
• Prior acquisitions and modeling experience a plus
• Familiarization of hotel operations, sales, and revenue management concepts and tools preferred
• Strong analytical and quantitative skills, including financial analysis skills
• Excellent working knowledge of Microsoft Office suite, with a particular focus in Excel
• Capacity to work effectively in an environment where one needs to take initiative and anticipate requests
• Superior verbal, written communications and presentation skills
• Demonstrated ability to identify errors/opportunities and effectively problem solve
• Capable of managing competing priorities while meeting deadlines with dependability
• Ability to work both independently as well as collaboratively with a team