Asset Manager

About Us

Born from the vision to elevate Dubai's global prominence, Wasl was founded on May 25, 2008, with the mission to transform the city into an even more captivating destination for residents, businesses, and visitors alike. Created from the union of the Dubai Development Board and Real Estate Department, Wasl embarked on a journey of seamless integration. This strategic merger not only streamlined operations but also empowered our team with enhanced expertise, enabling us to adopt dynamic, market-driven investment strategies.

Today, Wasl stands tall as a cornerstone of Dubai's real estate landscape. As one of the city's largest and most diversified real estate management companies, we proudly oversee an expansive portfolio of landmark assets, entrusted to us by DREC and other esteemed partners.

JOB DETAILSPosition Title: Asset Manager
Reports to: Head of Hospitality Asset Management
Division: Hospitality & Leisure
Department: Wasl Hospitality

Asset Manager will assist in optimizing the performance and value of the company’s hotel investment portfolio.

Scope:

This role entails analyzing hotel operations, financial performance, and strategic planning to boost profitability and asset value.

Principal Accountables:Analysis of Hotel Financial Data:

• Review and analyze Hotel Profit and Loss (P&L) statements.

• Produce comprehensive reports and presentations as requested by management.

Communication with Hotels:

• Identify inefficiencies in hotel P&L statements and share Wasl's benchmarking tools to highlight potential KPIs.

• Serve as the primary contact for hotels on special projects, deep dives, and data collection efforts.

Perform Trend Analysis:

• Prepare detailed trend analysis reports with conclusions and comments on major KPIs and business drivers.

Maintenance of wasl Hospitality Dashboard:

• Ensure accurate and timely data migration to the wasl Hospitality dashboard using Microsoft BI.

• Continuously enhance BI data analysis tools to improve data insights.

Attend Business Review Meetings:

• Support Asset Managers and actively participate in business review meetings.

Analysis of Hotel Budgets and Monthly Forecasts:

• Engage in the budget review process by analyzing hotel budgets and commenting on major KPIs based on market research and trend analysis.

• Review monthly forecast reports and highlight potential risk areas.

Feasibility Studies / ROI Projections:

• Review feasibility studies and ROI projections submitted by hotels, providing comments and suggestions.

Market Research (Hotel Benchmarking Reports, STR, etc.):

• Gather market intelligence and benchmarking reports, providing actionable recommendations to optimize performance.

Monthly Financial Statements:

• Review hotel financial reports prior to business review meetings to ensure accuracy and completeness.

Asset Registry:

• Act as custodian of hotels' loose and fixed assets.

• Monitor and review asset disposal forms and annual audit reports from hotels.

Support Portfolio-Wide Synergy Activities:

• Support Asset Managers in synergy and cost management activities across the wider portfolio.

Hospitality Partners:

• Maintain a comprehensive database of hospitality partners, including hotel and F&B operators and potential tenants.

Annual Hotel Asset Strategy Reports:

• Review and critique hotels' asset strategy plans.

• Monitor and track the achievement of targets on a monthly and quarterly basis.

Key Working Relationships: Internal: Support functions like Finance, Projects, RED, Investments.

External: Hotel team, Executive Committee, Hotel Directors, Heads of departments and General Manager of Hotels

Minimum Recruitment Requirements:Qualifications:

• Bachelor’s degree in Hotel Management, Finance, Business Administration, or a related field. Masters Preferred.

• Professional certification in Hospitality Management is a plus.

Knowledge:

• Knowledge of the hospitality industry and market trends.

• Familiarity with hotel benchmarking reports and tools such as STR.

• Experience in conducting feasibility studies and ROI projections.

• Proficiency in Business Intelligence & MS Office suite especially Excel & Power Point

Job Skills:

• Excellent communication and interpersonal skills.

• Ability to manage multiple tasks and projects simultaneously.

• Detail-oriented with a focus on accuracy and quality.

• Ability to work collaboratively in a team environment.

• Strong organizational skills and ability to meet deadlines.

Experience:

• 2 – 3 years’ experience working with a hotel asset management related consultancy or a hotel investment company.

Our Values

At Wasl, we are more than just a real estate company. We are active contributors to Dubai's thriving economy, fostering enduring relationships with our valued stakeholders. Our customer-centric approach is rooted in trust, respect, and a relentless pursuit of innovation in every aspect of asset management.