Chief Financial Officer
American Hotel Income Properties REIT

High-Growth Company with Renewed Strategy: AHIP has a focused growth strategy targeting premium-branded, select service hotels in the secondary US market. Traditionally, these markets have been overlooked but have significant operating and competitive advantages such as less competition, lower operating costs, and stable demand. With aging assets in need of capital investment and generational changes in many ownership groups, AHIP has an opportunity to be a consolidator in the sector and to acquire underperforming or undervalued assets and bring its asset management, operations, and financial expertise to maximize return and long-term real estate value. In addition, the company has recently invested over $65 million into its assets, improved its operating and financial agreements, and has recently secured a significant strategic investment from BentallGreenOak and Highgate Capital Investments, two of the largest real estate and hospitality investors in North America.

More information on the BentallGreenOak/Highgate transaction can be found here: BentallGreenOak/Highgate Transaction.

New Team: A new CEO, Jonathan Korol (bio) was recruited in September 2020 and is now seeking a strategic business partner in this position to provide leadership to the finance function as well as all aspects of the business. There is also a talented and experienced Board in place including two new members from BentallGreenOak and Highgate. The CFO will have a chance to work with this small, highly collaborative, strategic, and ambitious leadership team with a clear vision for growth. The company relies on 3^rd party management through its partnership with one of North America’s largest hotel management company, Aimbridge Hospitality, and uses its own in-house asset management capabilities to ensure that the Portfolio is being managed to maximize total return for its investors.  

Capital: The CFO will be joining an organization with a strong balance sheet that is well capitalized for growth. With over $75m in deployable capital and no near-term maturing debt, the company is in a strong liquidity position. Building on this foundation, the CFO will have a mandate to develop and execute on a longer-term financing strategy that supports AHIP’s aggressive growth plans.

Public Markets: The CFO will be tasked with effectively communicating the state of the business to analysts and investors. The successful candidate must be able to quickly establish trust, credibility and confidence with analysts and investors to ensure that they truly understand AHIP’s strengths and market positioning. Delivering accurate forecast, guidance and commentary to the public markets will be critical. The ultimate goal is to ensure AHIP is maximizing shareholder value and continues to be seen as an attractive investment target for institutional-grade investors.

Corporate Finance: AHIP is looking for a CFO with very strong corporate finance experience and expertise. This will involve supporting M&A activity, optimizing AHIP’s capital structure, structuring new financing and refinancing arrangements, managing banking relationships, and enhancing the cross-border tax and treasury functions. Ultimately, AHIP is seeking a highly analytical, market savvy and astute finance leader who can bring leadership and ideas on issues ranging from portfolio management, identifying opportunities in the market, to developing creative financing and structuring solutions as well as managing cross-border tax issues.

Finance & Accounting Function: The CFO will inherit a finance team with strong accounting and reporting capabilities but will need to provide visible strategic leadership to the team ensuring they are motivated, aligned and focused in delivering accurate and timely reporting and analysis. Continuing to build out the capacity and expertise of this team and providing value-added information and analysis will be a priority.

External Advisors: The CFO will also have an objective to reduce AHIP’s reliance on external advisors. When the company does engage with advisors, the CFO will need to ensure that the company is strategic in how it engages with advisors and also to ensure AHIP is receiving fair value for that engagement.