Job Description
A typical project can be broken down into three phases: 1) Fieldwork/Research, 2) Analysis, and 3) Communication of our Findings.
Fieldwork is everyone’s favorite as it usually involves being out of the office and visiting properties or sites. The goal is to learn about the different markets where the property is located, which, in the hospitality industry, requires you to essentially become a traveler, tourist, or patron. This is the part of my job that requires me to play golf, drink wine with every meal, scuba dive, and get spa treatments.
In the Analysis Phase, I am usually immersed in number crunching and financial modeling. This typically involves abnormally large Excel files, which I now appreciate as the greatest program ever invented. In financial analysis, there are usually some pretty large assumptions that are made. Here is where you do your best to analyze and support those assumptions empirically.
The Communication Phase usually takes one or more of three forms: 1) meeting with clients to verbally communicate our findings, 2) presentations to boards, city officials, or judges, and 3) writing large narrative reports that encompass everything you would have discussed or presented. The report aspect of this phase is the most gruesome and time consuming. However, since I enjoy public speaking and giving presentations, the other two forms are very enjoyable.
Pros
Our clients retain our services for our expertise on high-level strategy regarding real estate investment, which includes acquisitions and dispositions, new development, asset management, litigation support, etc. As such, I am constantly learning about how to be successful, or sometimes unsuccessful, in the ownership of real estate.
Our projects/engagements usually last between two to six weeks. As such, every month or so, I begin new projects on different properties in different markets (i.e. Last December, I evaluated the acquisition of a portfolio of hotels in Mexico, and in January, I assessed the feasibility of a proposed five-star hotel and golf resort in Monterey, CA.)
In the hospitality industry, fieldwork often entails visiting resort destinations, playing golf courses, getting spa treatments, skiing, and trying local restaurants. These activities are usually complimentary per our clients or reimbursable as a work related expense.
Cons
Much of our work is report-based. As such, I spend a lot of time in Word writing long narratives detailing our methodology and summarizing our findings.
In addition to writing, which at least allows you to be creative, I also spend a good amount of time reviewing/proof reading the work of other consultants.
In addition to traveling to exotic destinations, some projects require me to go to Kansas or Iowa in the winter.
Company Size
100-250 employees
Pay Range
$120,001-$140,000
Years in Job
3
Education
Did not fill in.
City
San Francisco
State
CA
