Asset Management Intern
Position: Asset Management Intern
Reports to: Vice President, Asset Management
Position Location: Richmond, VA
Start Date: Flexible start date but targeting May/June 2023
Duration: 40 hours/week for 8-12 weeks from start date
JOB SUMMARY:
Apple Hospitality is a publicly traded real estate investment trust invested primarily in select service and extended stay hotels throughout the United States. Apple is seeking a highly motivated intern to spend time with their industry leading Asset Management team working on value-add projects that maximize value for a portfolio of hotel investments. Projects can span different disciplines such as financial analysis, revenue strategy, risk management, ancillary services, labor management, due diligence, etc. While the internship will be based in Asset Management, interns will gain exposure to and work on projects for other departments within Apple based on those departments’ needs and interns’ interests. The primary departments they will overlap with are Acquisitions, Business Intelligence and Capital Expenditures. This will be a valuable experience for any student interested in pursuing a career in corporate real estate with a business/finance focus.
KEY RESPONSIBILITIES:
- Assist with or take the lead on ad hoc projects. Examples of past projects: Return on Investment analysis on energy efficient lighting; compile and review service recovery information by hotel, market, region to identify opportunity; identify industry sectors for hotel top accounts; etc.
- Attend regular asset management meetings.
- Research and track latest industry and market trends or hotel brand initiatives as directed or required for assigned projects.
- Assist asset managers with reviewing monthly financial statements, operating performance, market share positioning, guest satisfaction or other key indicators.
- Spend time with our Acquisitions, Business Intelligence and/or Capital Expenditures department(s) assisting them with projects or analysis. Examples of past projects: Due diligence modeling, capital spend trend analysis, insurance claim/event business intelligence tracking tool, etc.
- Present findings, conclusions, etc. to key stakeholders
REQUIREMENTS OF AN IDEAL CANDIDATE:
- Demonstrable record of strong academic achievement. Major or concentration in accounting, economics, business/finance, hospitality or real estate preferred.
- Prefer rising Senior but will consider qualified rising Juniors as well.
- Excellent critical thinking and problem-solving skills. Many projects will be very analytical in nature.
- Have an eagerness to proactively seek hospitality or real estate industry experience.
- Strong organizational skills; most importantly, the ability to work on numerous projects simultaneously.
- Working knowledge of Microsoft Office; in particular, proficiency in Excel is desired.
- Ability to develop and foster relationships with Asset Management team members as well as others across the company in different departments. Intern will have exposure to senior management at Apple as well as third-party managers and various consultants. As such, effective and professional oral and written communication skills are desired.
BENEFITS:
- Practical experience in a dynamic industry
- Shadowing, mentoring, and training opportunities with experienced and accomplished professionals in the real estate asset management space.
- Opportunity to attend regular meetings, calls and companywide events.
- Option to travel to a hotel site and see hotel operations firsthand.
- Competitive compensation. $20/hour.
HOW TO APPLY:
- Apply via job posting on Handshake.
- Interested students can also send their resume and CV to Landon Kemp (lkemp@applereit.com).
- Applications are reviewed on a rolling basis.
Apple Hospitality prohibits discrimination and harassment of any type and affords equal employment opportunities to employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. Apple Hospitality conforms to the spirit as well as to the letter of all applicable laws and regulations.