Associate Director of Acquisitions, AvantStay
$150-200k
Next-generation hospitality platform
Job no longer available
Next-generation hospitality platform
201-500 employees
Job no longer available
$150-200k
201-500 employees
Company mission
To set the new standard for the short-term rental experience.
Role
Who you are
- 4-6 + years experience in investment banking and investing and acquisitions at a real estate private equity firm. Short-term rental and single-family residency experience strongly preferred
- Bachelor’s degree in a related field, MBA a plus
- Deep knowledge of real estate valuation and financial modeling, travel trends, hospitality, hotels, tourism and the short-term / vacation rental market
- A passion for all things real estate, an agility and ability to adapt to changing and ambiguous situations, and a general hunger for more
- Advanced proficiency in Microsoft Excel, demonstrated ability to perform quantitative and qualitative analysis of assets using financial modeling techniques. Demonstrated ability to effectively define and resolve problems that balance multiple needs and interests
- Exceptional communication skills with the ability to present ideas, instructions and information effectively, both orally and in writing; and build strong relationships with a clear bias for action
- Strong network in the real estate space
What the job involves
- Own and drive the company’s relationship with our investment partners, building trust and rapport through consistent communication and results
- Review STR financial analyses put together and provide recommendations on the profitability and capital structure of each transaction, incorporating a variety of financing structures
- Effectively communicate deal strategy and negotiation guidance to analysts, cross-functional partners including Real Estate, Design & Procurement, and senior leadership
- Take ownership and manage multiple transactions from inception through negotiation to close
- Perform acquisition due diligence including the review of leases, financial conditions, historical property operating results, financial assumptions and other information
- Accurately and thoroughly complete transition-related tasks including but not limited to developing budgets, reviewing leases, reviewing offering memorandum, responding to cross-functional partners to resolve underwriting questions, reviewing STR owner-provided P&Ls, and running models to show budget implications within established timeframes
- Collaborate cross functionally with multiple stakeholders including analyzing portfolio performance with Revenue management and assessing FF&E & CapEx budgets with design & procurement during onboarding
- Work closely with the CFO, Revenue Management and Director of Underwriting, to create a framework for tracking accuracy of underwriting as compared to actual performance
- Complete accurate and thorough worksheets, reports, briefs, and proposals within agreed upon timeframes
- Thoroughly analyze the impact of lease transactions to property value and yield within established timeframes
- Review and extract information from broker marketing books and third-party research
- Assist in the review of the annual operating budget to confirm consistency with property strategies
- Steward connectivity across functions to drive action, accountability, and profit-maximizing decision making
- Identify and mitigate factors that will impact the ability for our property portfolio to drive revenue and optimize performance
Our take
AvantStay is redefining the short-term rental experience. Unlike traditional online travel agencies that simply connect travelers with hosts, AvantStay takes full ownership and control of its properties so guests get the best experience.
Each of AvantStay's homes are thoughtfully curated by award-winning interior designers. And guests can personalize their stay through the AvantStay app, choosing from a rang of luxury add-ons like in-home spa treatments, grocery delivery, or private chef experiences.
Now, the company operates over 2,300 properties across 140 cities, with ambitious plans to expand beyond the US. As the company continues scaling, it's doubling down on both portfolio growth and innovation, investing in operational technology and partnering with companies like Allianz Partners to offer added peace of mind through trip cancellation and interruption coverage.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-41% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Dec 2021
$160m
SERIES B
Sep 2019
$20m
SERIES A
Total funding: $191m
Company HQ
Sandahl, Austin, TX
Leadership
Sean Breuner
(Founder & CEO)Sean took an MBA at Columbia Business School before working for Morgan Stanley for a year and serving as Director of Heighten. Alongside being Operating Advisor of Northern Lights Music Festival since 2013, they co-founded AvantStay in 2017.
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