Associate, Hospitality Investments

Certares Management LLC (“Certares”) is seeking an Associate to support its real estate platform, which is focused on pursuing value-add and opportunistic investments in hotels / lodging assets out of a newly-raised dedicated fund.

Firm Overview

Founded in 2012, Certares is an investment platform dedicated to investing in the travel, tourism, and hospitality sectors, with approximately $3.8 billion of assets under management as of June 30, 2020. The Certares platform brings together a team of experienced private equity and operating professionals with deep investment, transaction and management experience in the travel and hospitality sector. Certares is well-positioned as a preferred partner, given its deep sector expertise, network of industry relationships, commercial relevance, and portfolio of premier travel distribution and supplier assets.

Job Description

The Associate will be a member of Certares’ real estate team, which primarily focuses on investing in hotel / lodging assets out of a newly-raised dedicated real estate fund. The Associate will be involved in all aspects of the investment process including, but not limited to, underwriting, market analysis, coordination of due diligence, preparation of investment memorandums and executive-level presentations, and closing logistics, as well as business plan execution for the assets post-closing. The individual will have direct interaction with senior personnel surrounding the sourcing, underwriting, and execution of transactions.

Responsibilities will include:

• Evaluating and underwriting a variety of hospitality real estate investment opportunities using Excel-based underwriting models, including complex cash flow, leverage, IRR/NPV, and fund/partnership waterfall modeling;
• Conducting market analysis for real estate acquisition targets;
• Overseeing the due diligence process across all aspects of the transaction including physical, financial, legal, and operational due diligence;
• Preparing investment memorandums detailing investment rationale, execution risks, and prospective returns for the firm’s investment committee;
• Assisting with the closing process including coordination with title companies on settlement statement and escrow, confirmation of insurance, and obtaining necessary internal approvals;
• Assisting in the implementation of business plans, including financing, disposition, and ongoing portfolio surveillance
• Other duties as needed

Qualifications

• Bachelor’s degree from a top undergraduate institution
• 2-4+ years of experience in investment banking, real estate private equity, or real estate finance
  • Hospitality real estate experience preferred, but not required
• Advanced Microsoft Excel skills and financial modeling experience
• Intermediate Microsoft PowerPoint skills and presentation-making experience
• Experience with other Microsoft Office products (Word, Outlook, etc.)
• Strong work ethic and a passion for real estate and hotels
• Strong communication skills, both written and verbal
• Attention to detail and ability to manage multiple projects with competing priorities
• Team player who can work effectively in a collaborative environment