Accounting Front Office

Rick Palagano

**** ***** *** ***** #**** San Clemente CA 92672 480-***-**** ************@*****.***

CONTROLLER / DIRECTOR of FINANCE

Specializing in Hotel and Hospitality Industry

Key Areas of Expertise

Multi-Site Operations

P&L Management

Startup & Turnaround Operations

Strategic Merchandise Management

General Management

Change Initiatives

Staff Development

Talent Management

Creative and fiscally-oriented management professional with over 20 years of extensive leadership experience in every aspect of hotel accounting best practices.

Property Controller positions include Convention Hotels with over 900 rooms, a Ski Resort and Marina, Downtown and Airport Properties as well as a mixed-use Hotel/Apartment Facility and a distinguished Men’s Club.

Understands how to best use systems and able to install and train on telephones, front office, general ledger and restaurant systems.

Hands-on management style that drives results by inspiring performance excellence and fostering collaborative partnerships.

Talented at training and developing staff, having had 4 assistants move on to become Controllers.

Professional Experience

Touchstone Properties, Ltd, Honolulu HI. April 2018 to August 2019

Controller

Manage all accounting and finance functions for community management firm with ninety clients. Directly responsible for all financing and investing activities for $280M in liquid assets and total accounts receivable of $7M. Represent the management firm in all client relations regarding sensitive financial matters and outside audits.

Blockweather Holdings, LLC, Kailua, HI July 2017 to April 2018

Controller

Responsible for all accounting and banking functions for this start-up digital currency hedge fund that expanded to nearly two hundred clients and $10M in managed funds in its first eight months of operation.

Associa Hawaii, Honolulu, HI May 2014 to July 2017

Hawaiian division of Associa, largest community management company in the US.

Client Controller

Responsible for budgeting, cash management, internal controls, client relations and all accounting functions at the premier accrual accounting based community management company in Hawaii.

Key Achievements:

Stabilizing and training accounting staff which enabled the timely distribution of accurate financial statements to over 500 communities representing over 30,000 units.

Responsible for cash management and banking relationships for accounts totaling approximately $750M.

Direct all accounting functions for the commercial real estate division.

The Hermosa Inn, Paradise Valley, AZ June 2012 to February 2014

(Independent boutique resort grossing more than six million dollars food and beverage revenue annually.)

Controller

Oversee budgeting, forecasting, revenue management and all accounting functions at one of the premier boutique resorts in the continental US.

Rick Palagano

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Key Achievements:

Developing and maintaining strong ownership and lender relations

Implementing stronger systems of controls and compliance.

Arizona Golf Resort, Mesa, AZ August 2010 to June 2012

(Managed by GF Management with 115 hospitality entities and19,000 guest rooms.)

Controller

Installed accounting systems and procedures for property upon entering receivership.

Key Achievements:

Re-established reputation of property, increasing pass holders from ten in 2010 to 120 in 2012.

Westin Galleria Dallas, Dallas, TX April 2008 – April 2010

(Subsidiary of Starwood Hotels & Resorts Worldwide with 9 hotel brands and over 900 hotels.)

Assistant Director of Finance

Directly supervised training of 3 new staff members following an 18 month, $80M renovation project.

Key Achievements:

Implemented internal audit procedures for property which failed its last two audits.

Responsible for monthly financial closing in one and one half days and all general ledger reconciliations.

CROWNE PLAZA ST. LOUIS-DOWNTOWN, St. Louis, MO June 2005 – April 2008

(Subsidiary of InterContinental Hotels Group with 7 hotel brands and over 4400 hotels.)

Director of Finance

Daily management of all expenses and cash essential to stability for over-extended property 440 room hotel.

Key Achievements:

Maintained all accounting functions for refinancing and $4M renovation while directly supervising PMS and POS installations.

St. Louis Racquet Club, St. Louis, MO November 2003 – June 2005

Controller

Installed accounting systems for prestigious men’s club whose accounting functions were previously contracted. Overhauled and enhanced database management and membership reporting of over 500 members.

Key Achievements:

Gained familiarity with management of accounting functions for non-profit, private clubs.

Clayton on the Park, St. Louis, MO September 2001 – November 2003

(Local Real Estate development company.)

Controller

Undertook all accounting and administrative functions for 213 unit mixed use complex. Instituted efficient billing and collection procedures for the hotel and apartments that had been non-existent.

Key Achievements:

Gained familiarity with management of accounting functions for an apartment complex.

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Adam’s Mark Hotel, St. Louis, MO September 2000 – September 2001

(Chain of hotels based in St. Louis with high profile properties.)

Controller

Responsible for all Accounting, Purchasing and IT functions of 910 room downtown hotel with $40M in annual revenue.

Key Achievements:

Assembled and directed credit and collection team which reduced receivables by 50% in five months.

Through seven months, more than 100% profit flow through on a $600,000 revenue increase over prior year.

Richfield Hospitality Services December 1979 – August 2000

(Subsidiary of City Developments Limited, a listed international property and hotel conglomerate.)

Controller – Regal Riverfront Hotel, St. Louis, MO (Oct 1992 – Aug 2000)

Responsible for installation and training of all new systems, including PMS, POS, telephone switch, revenue management, group rooms inventory, general ledger and Microsoft Office on a network serving 70 users.

Key Achievements:

Directed the Accounting, Night Audit, Purchasing and IT functions of 780 room downtown property through a $13M renovation that propelled a 70% increase in revenue.

Despite the business growth, reduced staffing by a minimum of two positions in Accounting, Night Audit and Purchasing.

Regional Controller – Richfield Hospitality Services, Denver, CO (Jan 1989 – Oct 1992)

Provided accounting and financial support for up to 15 hotels in both centralized and decentralized accounting systems. Responsible for all accounting functions during management contract transitions.

Key Achievements:

Handled client relations with individual and institutional investors.

Directly supervised centralized accounting office responsible for accounting and IT functions for 15 hotels in 9 states.

Education And Affiliations

Education: Bachelor of Science in Business Administration (cum laude)

Montclair State College, Upper Montclair, NJ

Certified Hotel Account Executive

frmr President, St. Louis Chapter of HFTP (Hospitality Financial and Technology Professionals)

Key Areas of Expertise

Accounts Receivable & Collections

P&L Management

Single Property Acquisitions for Owners

Rate of Return Analysis on Capital Projects

Centralized and Decentralized Accounting Systems

Staff Development

Talent Management

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