Director, Finance and Business Support, Full-Service Hotel Openings
Hotel Brand: IHG Corporate
Location: China, Shanghai, Shanghai
Hotel: 上海市, Shanghai, Shanghai, China
Job number: A561189515
Your day to day
Business Support Role
• Responsible to lead the hotel budget process & reviews. Support and lead where required owner financial presentations, including budgets, capital investment ROI presentations.
• Consults with the procurement and payroll productivity teams to drive strategic performance across both managed and franchise hotels.
• Best Practice evaluation, explore and develop Best Practices in reporting and performance monitoring with colleagues from other regions.
• Monitors performance of hotels through benchmarking, conversions and analysis of key indicators to ensure returns are maximized. Advises VP Finance & Business Support of new innovative profit and best practice which can be shared across regions.
• Leads with COO and VP Finance in commercial discussion with owners, on contract disputes and extensions. Represents finance in various global and or regional projects.
• Contributes to LT reviews and provides key updates on profit, system size and debtors. Works with VP OPS and Corporate Finance on new relevant franchise development opportunities.
• Represents Finance on the DAC related to franchise and managed opportunities.
• Represents Finance on the compliance committee related to franchise and managed.
• Accountable for Capital investment planning, analysis and the development of project papers for the capital committee or internal approval processes.
• Accountable to ensure IHG management and service contracts are complying with terms and conditions and to resolve minor contract disputes after discussion with VP Finance & Business Support.
• Lead the monthly legal reviews managing the delivery of outputs and interaction with cross functions as required.
• Branch co-ordination with the support of the ADF’s, BSC, legal and company secretarial.
• Responsible for Directorships as requested for IHG branches and subsidiaries. Responsibilities as a director will broadly include the interrogation of the annual accounts, attendance to board meetings, approval or objection to items raised at the board meetings following review of any proposals made.
Collections
• Accountable for the monitoring of collection issues at the hotels to maximize cash flow, and approves write-offs and ensure dues are paid to IHG when payable to improve cash flow of IHG.
• Chairs monthly credit meetings and represents finance on the compliance committee.
• Meets with ADF’s/VPO’s/VP Finance and key owners who are in financial default to review cash flow levels and work up appropriate payment plans. Represents finance in Franchise audit committees and maps out priority of audits.
• Validate calculations of liquidated damages in case hotels terminate license agreement prematurely.
Strategy & Planning
• Responsible for hotel forecasts and budgets, ensures they are robust and attainable in order to drive superior performance. Complete the financial plan for the franchise business within the region including estimates of Royalty rates, openings, closings and RevPAR forecasts.
• Reviews and analyses Results, Forecasts and Annual Plans of Hotels including capital investment, cash flows to ensure they are robust and attainable and challenges hotel teams accordingly.
• Integrate new or acquired businesses into the control and monitoring processes.
Financial Control & Governance
• Drive compliance with IHG Hotel Accounting and other relevant Policies and Procedures. Where applicable, ensure hotel Internal Audit recommendations and/or Control Self Assessment (CSA) action plans are implemented to strengthen control environment and minimize error rates.
• Ensures with the support of the BSC, that the finance departments and systems in hotels are set up in accordance with local law and Uniform System of Accounts to ensure uniformity and consistency throughout the Area.
• Accountable for the maintenance of the DOA policies across the Europe region.
Talent Development Role
• Supports the finance future leaders program to ensure the most appropriate recruitment process is followed to onboard best in class graduates and ensure their wider development is provided consistently.
• Supports the development of new IHG leadership and mentoring programs to develop existing finance team members creating a strong pipeline of finance employees within the hotel and Denham community.
• Performs half-yearly and yearly performance reviews. Establishes and maintains development plans and succession planning of direct team members.
New Deals / Development
• Provide input into feasibility studies of new and existing hotels. Pre-opening budgets preparation and control for new hotels. Pre-opening management of finance department of new hotels. Management of closure of existing Hotels and Finance department handovers.
What we need from you
• Bachelor or Master's Degree in Business, Finance, or a relevant field of work, or an equivalent combination of education and work-related experience.
• 10+ years progressive work related experience in multiple areas of accounting and/or capital projects management and reporting, financial and/or business analysis, accounting, merger/acquisition analysis, or a related area, with 7 to 10 years managing teams and/or significant complex projects.
• Demonstrated ability to assess and understand a variety of internal and external economic and financial issues which impact the business, to analyse data and forecast future business trends, and to develop effective financial plans based on businesses assessments.
• Demonstrated experience in leading and developing people.
• Strong communication skills, both verbal and written to address all levels within the organization and ability to gain consensus.
• Demonstrated experience with PeopleSoft, Essbase, Hyperion or similar financial software for the purpose of financial reporting, analysis and presentation.
• Demonstrated knowledge of finance, budgeting, and accounting processes and regulations, along with demonstrated knowledge of capital projects management standards and techniques and US GAAP regulations and procedures.
• Demonstrated ability to scope a project and develop a plan of action, ability to influence others, present convincing arguments and deal with conflicting viewpoints.
• Travel is required, approximately 20-30% of time.
• Majority of work is performed in a normal office environment.
At IHG Hotels & Resorts, we work together to deliver True Hospitality for Good on a global scale. With corporate offices and over 6,000 hotel destinations worldwide, a career at IHG is the perfect way to broaden your horizons. You’ll experience our unique culture and brilliant colleagues who will support and inspire you. With a host of corporate opportunities to choose from, wherever you are on your career journey, and whatever you want to achieve there’s Room for You at IHG.
Over recent years, we’ve transformed our company. We have bold ambitions to drive performance and maintain our relentless focus on growth in order to be the hotel company of choice that guests & owners love.
We are a hospitality business at our core and value connections and being together helps us foster a unique sense of belonging that also supports productivity. That’s why here at IHG, we give our colleagues flexibility and balance – working in a hybrid way, blending office and remote working collectively. We recognise that every role is different, that’s why leaders work with teams to determine how and when they collaborate.
We provide a wide range of benefits designed to help you live your best work life. These include impressive room discounts across our many properties, recharge days and volunteering days throughout the year. Through our myWellbeing framework, we are committed to supporting wellbeing in your health, lifestyle, and workplace. We offer a unique and inclusive culture, where there is always Room for You to belong, grow and make a difference.
Our mission is to welcome everyone and create inclusive teams where we celebrate difference and encourage colleagues to bring their whole selves to work. IHG Hotels & Resorts provides equal employment opportunities to applicants and employees without regards to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability, or any other category protected by applicable laws. We promote a culture of trust, support, and acceptance. Always welcoming different backgrounds, experiences, and perspectives.
Don't quite meet every single requirement, but still believe you'd be a great fit for the job? We'll never know unless you hit the 'Apply' button. Start your journey with us today.
