What are the responsibilities and job description for the Vice President of Finance and Accounting position at Kolter Hospitality?
Position Summary: This position is a senior executive responsible for the overall financial leadership, strategy, and integrity of the hospitality management company and its portfolio of owned branded select service and full service hotel properties. This role oversees corporate and property level accounting, financial reporting, banking relationship compliance, tax matters, and technology oversight, while partnering closely with operations, ownership, lenders, and external advisors. The position ensures accurate financial reporting, strong internal controls, effective cash management, and proactive financial planning, while supporting growth initiatives, capital projects, and refinancing activities across the portfolio. This is a full time, in office role based at our Delray Beach location.
Key Responsibilities
Financial Leadership & Oversight
Provide financial oversight for hotels and related corporate entities.
Develop and execute financial strategies aligned with operational goals and ownership objectives, and brand standards.
Establish and maintain strong internal controls, accounting policies, and procedures across all entities and properties.
Oversee business entities, intercompany activity, and consolidation of financial statements.
Accounting and Reporting
Direct, mentor, and educate corporate accounting staff, ensuring consistent application of GAAP and hospitality best practices.
Oversee monthly, quarterly, and annual financial close processes for all properties and corporate entities.
Manage consolidations of financials across multiple legal entities and ownership structures.
Oversee construction accounting for renovations, brand mandated property improvement plans (PIPs), and new developments.
Assist in preparing and presenting quarterly financial results to ownership with clear financial insights and performance metrics.
Oversee cash flow reporting, forecasting, and determination of liquidity requirements.
Banking, Financing & Compliance
Serve as the financial compliance liaison with banks, lenders, and financial institutions.
Prepare quarterly reporting packages to bank officers.
Ensure compliance with loan covenants and financial metrics, including Debt Service Coverage Ratio (DSCR) and related requirements.
Assist with mortgage refinancing, loan structuring, and capital financing initiatives.
Support contract negotiation related to financing, management agreements, vendors, and strategic partnerships.
Tax & Regulatory Compliance
Oversee preparation and review of federal tax returns for all entities.
Ensure compliance with sales tax, use tax, and resort tax regulations across all jurisdictions.
Coordinate with external tax advisors to optimize tax planning strategies and manage audits or inquiries.
Technology & Systems Oversight
Provide financial and strategic oversight of all information technology systems, including accounting platforms, brand mandated hospitality property management systems (PMS), point of sale (POS) systems, and related technologies across the branded hotel portfolio.
Extensive experience with hotel financial and operational software, including M3, ProfitSword, Newstar, HSM, ReactorNet, EPRO.
Oversee and direct the work of a third party IT firm, ensuring system security, business continuity, data protection, and ongoing compliance with PCI and other applicable regulatory standards.
Ensure financial and operational systems support property level and corporate reporting requirements, scalability, internal controls, and accurate, timely financial information.
Ensure effective integration and data flow between corporate systems and hotel brand systems to support compliant reporting, operational efficiency, and decision making.
Partner closely with hotel operations, executive leadership, and IT resources to assess system needs, evaluate technology performance, and consistently implement improvements aligned with brand standards and business objectives.
Insurance Oversight & Risk Management
Provide oversight for all insurance programs across the hotel portfolio.
Lead the negotiation of property, liability, workers compensation, and other relevant insurance coverages.
Manage relationships with brokers, carriers, and advisors to ensure optimal coverage and cost efficiency.
Evaluate risk exposures for existing, newly developed, and acquired hotel properties.
Ensure compliance with lender, brand, and regulatory insurance requirements.
Review policies, claims, renewals, and coverage limits to align with operational and financial objectives.
Operational & Strategic Collaboration
Develop a strong understanding of hotel operations to ensure financial decisions align with operational realities.
Partner with executive leadership and property management to drive profitability, cost control, and revenue optimization.
Support budgeting, forecasting, and long range financial planning for properties and the company.
Lead or support negotiation of key financial and commercial contracts, including management agreements, financing documents, major vendor contracts, and third party service agreements, evaluating contractual terms for financial impact, compliance risk, cash flow implications, and long term profitability in partnership with legal counsel, ownership, and operations to ensure alignment with business objectives and lender expectations.
Key Responsibilities
Financial Leadership & Oversight
Provide financial oversight for hotels and related corporate entities.
Develop and execute financial strategies aligned with operational goals and ownership objectives, and brand standards.
Establish and maintain strong internal controls, accounting policies, and procedures across all entities and properties.
Oversee business entities, intercompany activity, and consolidation of financial statements.
Accounting and Reporting
Direct, mentor, and educate corporate accounting staff, ensuring consistent application of GAAP and hospitality best practices.
Oversee monthly, quarterly, and annual financial close processes for all properties and corporate entities.
Manage consolidations of financials across multiple legal entities and ownership structures.
Oversee construction accounting for renovations, brand mandated property improvement plans (PIPs), and new developments.
Assist in preparing and presenting quarterly financial results to ownership with clear financial insights and performance metrics.
Oversee cash flow reporting, forecasting, and determination of liquidity requirements.
Banking, Financing & Compliance
Serve as the financial compliance liaison with banks, lenders, and financial institutions.
Prepare quarterly reporting packages to bank officers.
Ensure compliance with loan covenants and financial metrics, including Debt Service Coverage Ratio (DSCR) and related requirements.
Assist with mortgage refinancing, loan structuring, and capital financing initiatives.
Support contract negotiation related to financing, management agreements, vendors, and strategic partnerships.
Tax & Regulatory Compliance
Oversee preparation and review of federal tax returns for all entities.
Ensure compliance with sales tax, use tax, and resort tax regulations across all jurisdictions.
Coordinate with external tax advisors to optimize tax planning strategies and manage audits or inquiries.
Technology & Systems Oversight
Provide financial and strategic oversight of all information technology systems, including accounting platforms, brand mandated hospitality property management systems (PMS), point of sale (POS) systems, and related technologies across the branded hotel portfolio.
Extensive experience with hotel financial and operational software, including M3, ProfitSword, Newstar, HSM, ReactorNet, EPRO.
Oversee and direct the work of a third party IT firm, ensuring system security, business continuity, data protection, and ongoing compliance with PCI and other applicable regulatory standards.
Ensure financial and operational systems support property level and corporate reporting requirements, scalability, internal controls, and accurate, timely financial information.
Ensure effective integration and data flow between corporate systems and hotel brand systems to support compliant reporting, operational efficiency, and decision making.
Partner closely with hotel operations, executive leadership, and IT resources to assess system needs, evaluate technology performance, and consistently implement improvements aligned with brand standards and business objectives.
Insurance Oversight & Risk Management
Provide oversight for all insurance programs across the hotel portfolio.
Lead the negotiation of property, liability, workers compensation, and other relevant insurance coverages.
Manage relationships with brokers, carriers, and advisors to ensure optimal coverage and cost efficiency.
Evaluate risk exposures for existing, newly developed, and acquired hotel properties.
Ensure compliance with lender, brand, and regulatory insurance requirements.
Review policies, claims, renewals, and coverage limits to align with operational and financial objectives.
Operational & Strategic Collaboration
Develop a strong understanding of hotel operations to ensure financial decisions align with operational realities.
Partner with executive leadership and property management to drive profitability, cost control, and revenue optimization.
Support budgeting, forecasting, and long range financial planning for properties and the company.
Lead or support negotiation of key financial and commercial contracts, including management agreements, financing documents, major vendor contracts, and third party service agreements, evaluating contractual terms for financial impact, compliance risk, cash flow implications, and long term profitability in partnership with legal counsel, ownership, and operations to ensure alignment with business objectives and lender expectations.