Associate Real Estate Analyst

Company Overview Client is a specialist private equity firm focused on direct investments and operating platforms in the luxury and upper-upscale hospitality sector globally. They target iconic trophy assets, branded luxury resorts, ultra-luxury boutique hotels, and high-end branded residences, and luxury hospitality-related operating companies across North America, Singapore, New Zealand and select Asian gateways. Role Overview The Investment Associate will play a lead role in the sourcing, evaluation, execution, and asset management of luxury hotel and branded residence investments. Working directly with the Partners and senior team members, the Associate will take ownership of financial underwriting, market research, stakeholder presentations, and ongoing portfolio oversight. This is a high-exposure position within a lean, entrepreneurial team that offers significant carry participation and career progression. Key Responsibilities 1. Transaction Execution & Underwriting • Lead the construction and ongoing maintenance of sophisticated three-statement hotel financial models (P&L, cash flow waterfalls, promote structures, multi-scenario IRR/EM analysis, hold/sell/refi scenarios). • Underwrite luxury hotel acquisitions, recapitalizations, and ground-up developments with debt and preferred equity layers. • Develop detailed operating assumptions (ADR, RevPAR, GOPPAR, F&B margins, management & franchise fees, FF&E reserves, PIPs, ROI on renovations). 2. Luxury Market Intelligence & Research • Perform deep-dive research on global luxury travel trends, ultra-high-net-worth spending patterns, branded residence demand, and competitive supply pipelines. • Analyze sub-market dynamics in gateway cities and prime resort destinations (Maldives, Aspen, Côte d’Azur, Dubai, Mykonos, St. Barths, etc.). • Maintain relationships with luxury operators (Four Seasons, Aman, Rosewood, Mandarin Oriental, One&Only, Ritz-Carlton, Peninsula, etc.) and track brand expansion pipelines. 3. Deal Execution & Stakeholder Management • Prepare investment committee memos, board presentations, and LP updates with institutional-grade quality and storytelling. • Coordinate due diligence (legal, technical, commercial, brand/franchise, reputation & ESG risk). • Negotiate term sheets, LOIs, purchase agreements, management agreements, and franchise agreements alongside external counsel. 4. Portfolio & Asset Management • Actively monitor portfolio assets: monthly/quarterly performance vs. underwriting, annual budgeting, major capex/renovation oversight, and re-financing/disposition planning. • Work directly with third-party operators and internal asset management teams to drive revenue enhancement and cost efficiency. • Prepare investor reporting and quarterly valuation updates. 5. Network & Market Coverage • Cultivate and maintain relationships with luxury hotel brokers (JLL Hotels, CBRE Hotels, HVS, Eastdil, Christie & Co), lenders, high-end operators, family offices, and sovereign wealth investors. • Attend key industry events (ILTM Cannes, IHIF, ALIS, etc.). Required Qualifications & Experience • Minimum 5–9 years of relevant experience with a clear track record in luxury/upscale hospitality investments. • Prior roles within: – Hotel-focused private equity or real estate private equity – Investment banking (real estate/hospitality M&A or lodging coverage) – Luxury hotel operator corporate development / strategy (e.g., Four Seasons, Aman, Rosewood, Dorchester Collection) – Hospitality investment sales brokerage or advisory (JLL, CBRE, Eastdil Secured) • Demonstrable experience in project management of luxury hotel transactions (acquisitions, developments, or recapitalizations) • Bachelor’s degree from a top-tier university; MBA/CFA/CAIA strongly preferred. Key Skills & Attributes • Mastery of Excel; ability to build institutional-quality hotel models from scratch. • Exceptional PowerPoint skills and ability to distill complex analyses into clear, persuasive presentations. • Deep understanding of hotel profit & loss dynamics, franchise/management agreements, brand standards, and PIP economics. • Commercial intuition for luxury consumer behavior and what drives value in trophy assets. • Strong presence and communication skills; comfortable presenting to CEOs, family offices, and investors. • Fluency in English required; additional European or Asian languages highly advantageous. If this sounds like you and you have a genuine passion for five-star hospitality and trophy real estate, we would love to hear from you.