Director of Finance in Chicago, Illinois at The Blackstone Hotel

About the Property & Employer

The Blackstone, Autograph Collection is proudly owned and operated by Vinayaka Hospitality (VH). As the managing company, VH serves as the employer and is responsible for all employment-related decisions, including hiring, compensation, benefits, and workplace policies.

Vinayaka Hospitality was founded in 2008 on a foundation of innovation, intelligence, and compassion. With a passion for hospitality and a practical, results-driven approach to hotel management, VH collaborates with leading global brands—including Hilton, Marriott, Hyatt, and Wyndham—to successfully manage a growing portfolio of properties across diverse markets.

We are proud to welcome The Blackstone Hotel to our portfolio as part of our continued expansion. Located on Michigan Avenue in downtown Chicago, The Blackstone is one of the city’s most iconic historic hotels. Originally opened in 1910, it has long been recognized as a landmark in Chicago hospitality, known for hosting presidents, dignitaries, and distinguished guests from around the world. Today, it offers a unique blend of timeless character and modern sophistication.

At VH, we are committed to growth—both for our properties and our people. We take a proactive and agile approach to sales, marketing, and revenue strategy, allowing us to adapt quickly to changing market conditions. Equally important, we invest in our associates by creating an environment where individuals can grow, succeed, and make a meaningful impact.

We are an equal opportunity employer committed to fostering a diverse and inclusive workplace. If your experience doesn’t align perfectly with every qualification, we still encourage you to apply—you may be a great fit for this or future opportunities within VH.

Benefits

Eligible team members may have access to a comprehensive benefits package, which may include:

· Medical, dental, and vision insurance

· Paid time off (vacation, sick time, holidays)

· Six paid company holidays and one floating holiday

· 401(k) with company match (up to 4%)

· Life and disability insurance

· Employee assistance programs

· Employee discounts (hotel and travel discounts)

Eligibility for benefits may vary based on position, employment status, and tenure.

POSITION FOCUS

Establishes, coordinates and administers all financial systems, internal controls and the hotel's capital plan. Prepares and reviews budgets, forecasts, operating results, financial reports and tax returns in compliance with government regulations, company, franchise and ownership requirements.

The Director of Finance is the financial manager of the hotel. The position is responsible for short and long term planning and the daily operations of the finance's department. Develops and recommends the department's budget and objectives and manages within those approved plans. May participates in total hotel management as a member of the hotel's Executive Committee and is responsible for providing the timely dissemination of reports to management to assist in achieving bottom line results.

Consults with the Corporate Leader of Finance any accounting transactions or control procedures which are not specifically addressed in company Accounting Policies and Procedures Manual or which requires interpretation.

ESSENTIAL RESPONSIBILITIES

Executive Committee

Participate in the Executive Committee utilizing a participative style: be readily available and effectively communicate with each member, coordinate the operation of each individual's department and special projects, and assist in identifying problems and solutions. Guide the committee in dealing with the hotel's problems and opportunities in order to best serve the financial interests of the property.

Operating Budget

Development of annual operating budget which will serve as an operating plan and define required levels of achievement. Assure achievement of annual budget in revenues, costs and profits through accounting diligence and expenditure controls and proficient accounting practices.

Departmental Objectives

Set written priorities and key objectives for each department head quarterly including action plan and completion date. Follow up to assure successful implementation and follow-through and take corrective action in the event of failure to meet assigned objectives.

Forecasting

Monthly forecasting of operating staff and cost expenditures. Business planning in line with forecasted sales and costs including guidance to department heads.

P & L Statement Critique

Monthly review of financial statement in order to correct problems, assure spending is in line and to plan for future business. Review and approve all expenses in "other expense" categories in all departments. Regularly review all major expenses to assure that monies are wisely expended.

Staff Relations

Develop a high level of esprit de corps and loyalty to the hotel and to the company in order to reduce turnover and increase employee morale. Communicate, counsel and assist in staff development. Be visible and available to all hourly personnel in accordance with the Company's open door policy. Attend monthly department employee meetings whenever possible.

Staff Evaluation

Conduct performance appraisal and personal development plans for management staff. Identify substandard performance of individual managers and outline improvement action, including taking corrective or disciplinary measures.

Staff Hiring

Assure level of experience, knowledge and ability to meet job requirements of all hotel management. Cost Controls Review controls and assure adherence at all times in order to protect the hotel's property/assets.

Wage and Salary Administration

Review all wage and salary increases assuring compliance with wage scales and compensation philosophies as outlined in the Company's management manuals. Future Business Quarterly review of future bookings of room nights and banquet sales, early identification of weak periods, implementing yield management practices.

Pricing

Quarterly review of pricing including review of cost increases and competitive pricing in room rates, restaurant, lounge and banquet areas. Assure recommendation and implementation of price increases on a timely basis.

Inspection

Regular personal inspection of guest rooms, public areas, back of house, banquet function set-ups. Assure that written lists are developed of corrective actions required for implementation by housekeeping, maintenance and operating departments. Guest Service Through leadership and example, establish a friendly, courteous, service-oriented approach to guests that is exhibited by all hotel employees. Establish and implement guest service standards for all departments, periodically review, identify problems and corrective actions.

Property Maintenance

Assure that an on-going program is followed in regular repair and upkeep of the facility, landscape and equipment by developing and implementing a preventive maintenance program.

Marketing Plan

Development of annual sales and marketing plan. Monitor implementation of marketing plan action steps.

Sales Management

Regular review of sales solicitation activities, room nights productivity and group room rates sold by the sales department. Regularly review individual productivity taking corrective action and guiding as needed. Evaluate market

mix and take action in order to best position the hotel for increased business. Involvement in sales solicitation of key accounts by reviewing contracts, meeting with sales department, visit key account contacts in person and by phone.

Food and Beverage Promotion

Monitor the success of F&B promotion programs. Take corrective actions as required. Monitor sales levels in order to

take steps to reverse negative sales trends.

Credit

Maintain credit policies at Front Office, Sales and Catering. Attend credit meetings and assist in developing action

plans, supervise collections of major accounts, review of aging reports and approval of write-offs.

Front Office Management

Regular review of Front Office results in order to maximize room revenue. Identify problem areas and initiate solutions.

Community Relations

Represent the hotel within the local community, positioning the hotel as a good corporate citizen that is involved and

supportive of community affairs.

Policies and Procedures

Assure that all Company policies and procedures are fully implemented throughout the hotel.

OTHER RESPONSIBILITIES

Performs special projects and other responsibilities as assigned.

Travel to other company hotels and corporate for meetings, training and task forces.

SUPERVISORY DUTIES - 2-3 Associates

The individual must possess the following knowledge, skills and abilities and be able to explain and demonstrate that he or she can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of knowledge, skills, and abilities.

Abilities

Lifting, pushing, pulling, carrying -limited lifting, pushing, pulling, carrying up to 15-20 lbs. Generally boxes, computer equipment. Bending/kneeling -limited bending/kneeling required when arranging supplies or equipment. Mobility -limited mobility between offices and departments. No continuous standing, climbing or driving. Excellent hearing required to train and interact with management and associates. Excellent vision required to read reports, computer, etc.

Education/Formal Training

A four-year college degree (accounting preferred) or equivalent education/experience.

Experience

Experience required by position is five to ten years of employment in a related position with this company or other organization(s).

Material/Equipment Used

Computers, 10 key calculator, phones (95% of work period).

Environment

Work inside 95% of work period.