Michele Carpenter
Clifton,NJ
Summary
Well-grounded Finance Executive with experience successfully optimizing control systems such as GAAP & SOX and building solid teams to meet business needs and achieve demanding financial targets. Precise reporting and accurate records management. Stellar interpersonal and operations oversight skills with the ability to foster strong working relationships with business partners of all levels. Ability to analyze financial data, prepare financial reports, statements, and projections for multiple properties.
Overview
12
12
years of professional experience
Work History
VP of Finance - Americas
Ennismore
New York, NY
11.2022 - Current
- Oversight of all financial hotel functions and development for 30 hotels.
- Spearhead and manage implementation of new accounting and reporting software, taking 7 varying operating systems and transitioning to one streamlined system.
- Collaborate with hotel finance and operations teams to manage budgets and financial planning, delivering accurate and compliant data.
- Supported business acquisitions by performing due diligence and leading integration of financial functions.
- Review, design, and implement accounting processes and procedures to drive accuracy.
- Oversee team of 50, managing monthly, quarterly, and annual close processes.
- Developed and implemented strategies to reduce costs and increase profitability.
- Analyzed and presented financial updates to the board of directors at quarterly and annual meetings.
- Revitalized business plans and realigned company objectives to increase overall profits.
- Monitored business trend forecasts and adjusted budgets and operational plans to maximize growth and opportunities.
Director of Acquisitions & Dispositions
Highgate Hotels
New York, NY
04.2022 - 11.2022
- Develop and lead new team of 8 finance transition specialists to onboard new acquisitions and management takeovers
- Train current Directors of Finance on how to fully transition a hotel and ensure all incoming staff are trained on corporate systems and processes
- Manage the pipeline of all incoming and outgoing sales and management transitions including pre-opening budgets, proration schedules, and playbooks
- Extensive interaction with owners and operational teams to ensure proper setup of hotel accounting processes as well as solidifying future departmental stability
- Creation of all SOP’s for the new division of Transitional Finance
- Intimately involved in the build, and implementation of budget and forecast systems
- International transition and takeover of 9 hotels in the Latin America regions including chart of account conversions - directly responsible for the mapping and data file creation
Regional Director of Finance
Highgate Hotels
New York, NY
01.2019 - 03.2022
- Oversight of finance and accounting departments for 13 assets with a total staff of 60 to deliver complete financial information to facilitate decision making for management, ownership groups, and parent company
- Manage monthly and quarterly close cycles, ensuring that US GAAP financial reporting is performed timely, in accordance with corporate close guidelines, reviewing income statement and balance sheet reconciliations to ensure the accuracy and integrity of the financial statements
- Collaborated with department heads to develop comprehensive business plan and presented financial forecast with recommendations to senior leadership
- Work alongside property leadership to create efficiencies within the hotels in finance as well as operations
- Oversee and foster working relationships with off-site accounting team
- Provide leadership and guidance to the financial staff while providing training, career progression and succession planning.
Director of Finance
Knickerbocker Hotel, Highgate Hotels
New York, NY
07.2014 - 01.2019
- Director Of Finance for a 330 Room Luxury hotel in the heart of Times Square with five hotel run F&B Outlets
- Assisted with the management and control of all financial aspects of the opening including OSE, Capital, & Pre-Opening expenses
- Intimately involved in all budget, forecasting, analysis, and special projects with ownership and property management
- Extensive operational involvement in all areas of the hotel to ensure that financial goals are met
- Spearheaded several projects to bring annual hotel operational costs down by $500K in 2017 (inclusive of labor and operational costs analysis)
- Assisted with the renegotiation of multiple contracts to effectively reduce costs since opening
- Assist with the financial management of the CBRE condo entities
- Successfully assisted with the transition of fully non-union staff to union staff in 2016
Complex Director of Finance
Park Central/Westhose, Highgate Hotels
New York, NY
04.2013 - 08.2014
- Successfully split one 935 Room property into two separate running entities running as one complex entity
- Full oversight of hotel renovation, Pre-opening, and OS&E budget reconciliations
- Prepare annual budgets, forecasts, and financial statements for two hotels
- Manage all pre-opening, capital, and renovation budgets in conjunction with General Manager's for both properties, management group, and hotel ownership
- Responsible for managing the financial activities of the hotel in compliance with GAAP and SOX
- Prepare and monitor all internal/external audit documentation as well as establishing and implementing property SOP's as well as keeping in compliance the company's SOP practices
- Worked very closely with ownership group in all aspects of the renovation and opening of Park Central and Westhouse Hotels.
Education
MBA -
University of Phoenix
true10-2024
PMC (Project Management Certificate) -
University of Phoenix
06.2022
Bachelor of Science - Economics
University of Phoenix
Skills
- US GAAP & SOX proficiency/Internal and External Audits
- General ledger accounting and financial management
- Month-end and year-end closings
- International asset acquisition, transition, and operations
- International chart of account conversion
- Financial analysis and planning
- Excels in team leadership
- Project development and management
- Well versed in Local 6 union contract and labor negotiations
- Extensive hotel operations management
Accomplishments
- Effectively develop and maintain relationships with several ownership groups and asset managers
- Reorganization of finance departments to optimize labor savings and create efficiencies
- Assist with operational and financial oversight of several hotel openings, closings, and rebranding
- In depth knowledge of operational running’s, setup, and Local 6 union contract
- Consistently work with lenders through the pandemic on PPP Forgiveness
- Train and develop staff at each of my properties to ensure growth within the company
- Several prior staff members have gone on to be promoted within organizations at senior property levels
- Intricately involved in planning and implementation of East Coast staffing restructure to enhance efficiency with total labor savings of $5M annually.
Timeline
VP of Finance - Americas
Ennismore
11.2022 - Current
Director of Acquisitions & Dispositions
Highgate Hotels
04.2022 - 11.2022
Regional Director of Finance
Highgate Hotels
01.2019 - 03.2022
Director of Finance
Knickerbocker Hotel, Highgate Hotels
07.2014 - 01.2019
Complex Director of Finance
Park Central/Westhose, Highgate Hotels
04.2013 - 08.2014
MBA -
University of Phoenix
PMC (Project Management Certificate) -
University of Phoenix
Bachelor of Science - Economics
University of Phoenix
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