Controller / Director of Finance

WILLIAM FORBES

*** *** ****** **** *****: 401-***-****

Barrington, RI 02806 E-mail: ****************@*****.***

DIRECTOR of FINANCE / CONTROLLER

A very accomplished financial management professional with extensive experience in the hotel industry who has literally done it all including opening and closing properties, managing the financial aspects of major renovations, and transitioning through management company and ownership changes. Experience includes working in hotels of various sizes, stages, and types of ownership, in a variety of geographic locations and through a full spectrum of economic and business cycles. Key strengths include:

Analytical/Research Skills Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes.

Planning/Organizing Results-driven achiever with exemplary planning and organizational skills, along with a high degree of detail orientation.

Leadership/Management Skills Goal-driven leader who maintains a productive climate and confidently motivates, mobilizes, and coaches employees to meet high performance standards.

Interpersonal Abilities Proven relationship-builder with unsurpassed interpersonal skills.

Communications Skills Exceptional listener and communicator who effectively conveys information verbally and in writing.

Problem-Solving/Reasoning/Creativity Innovative problem-solver who can generate workable solutions and resolve complaints.

Personal Profile Seasoned professional whose honesty and integrity provide for effective leadership and optimal business relationships. Dependable, responsible contributor committed to excellence and success. Loyal and dedicated manager with an excellent work record.

SIGNIFICANT ACCOMPLISHMENTS

 Forecasting and Optimizing Revenue As CFO/Controller for a new hotel, created a system to capture booking data and analyze booking pace trends in order to forecast room demand and set rate strategy to maximize revenue. Better forecasting and pricing contributed to exceeding pro-forma financial expectations.

 Financial Management Accountability Established a monthly process to allow each department head to track actual expenditures against budget. This timely and reliable information enabled holding department heads accountable for controlling expenditures and supported them in optimizing gross operating profit.

 Cash Flow Management As Controller for a hotel in Chapter 11, led the effort to aggressively collect accounts receivable from group customers, resulting in a significant improvement in cash flow. Within 90 days, was able to bring accounts receivable from 75% current to 90% current and maintained this focus for one year until the hotel entered foreclosure proceedings. In conjunction, also reduced total inventories by 33%

 Renovation Financial Management Worked closely with Sheraton’s project manager during a successful two-phase major renovation of a resort property. Prepared pro-forma financials to support capital expenditures for the project and handled all project accounting. Both phases of the renovation were completed on-time and on-budget.

 Hurricane Andrew Got the hotel financial system up and running within 6 days of the hurricane so that business operations could be resumed – much faster that other hotels in Dade County, FL. Negotiated with insurance carrier and provided supporting documentation for $6 million of damages in a timely fashion so that claim was paid promptly.

 Transition Management Extensive experience in managing through transitions of both ownership and management companies. Successfully closed balance sheet for consummation of sale and immediately had an opening balance sheet for new owner. Flexible in adapting to new financial and operating policies, processes, and technologies.

PROFESSIONAL EXPERIENCE

Hotel Commonwealth CFO/Controller 2002—2009

The Westin Hotel Providence Director of Financial Management 1994—2002

ITT Sheraton Corporation 1979—1994

Controller - Sheraton Bal Harbour Beach Resort (1990—1994)

Controller - Sheraton at St. Johns Place (1985—1990)

Controller - Sheraton International at O’Hare Airport (1984—1985)

Controller - Sheraton Charleston Hotel (1980—1984)

Controller - Sheraton Portland Hotel (1979—1980)

Hilton Worldwide 1972—1979

Assistant Controller - The New Orleans Hilton (1977—1979)

Assistant Controller - The Statler Hilton Boston (now Park Plaza) (1972—1977)

EDUCATION

BA, Business Administration Franklin & Marshall College 1972

AWARDS

• Westin Hotels & Resorts Franchise Hotel of the Year 1998

• Carnival Hotels - Hotel of the Year - 1996

• Carnival Hotels Director of Financial Management of the Year -

• The Westin Hotel Providence - 1996

• During 1996 supported Carnival Corporate Office as an Area Controller

• ITT Sheraton Presidents Award

• Sheraton Bal Harbour Beach Resort - 1991

• Sheraton St. Johns Place - 1987

• Sheraton Excellence Award - 1981 - Food & Beverage Control

• Hospitality Finance & Technology Professionals

• Awarded C.H.A.E. designation - 1986 - Member since 1974

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