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Lead award-winning portfolio of owned and operated Marriott and Hilton focused-service hotels located in PA, NY, and NJ. Drive best in class operations and portfolio growth.
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PresidentHigh Hotels Ltd. Oct 2020 - PresentLancaster, Pennsylvania, Us -
Vice President OperationsHigh Hotels Ltd. Jan 2017 - Sep 2020Lancaster, Pennsylvania, Us -
Regional DirectorHigh Hotels Ltd. 2015 - 2017Lancaster, Pennsylvania, Us -
ControllerHigh Hotels Ltd. 2008 - 2015Lancaster, Pennsylvania, Us• Lead finance and accounting operations for company consisting of thirteen (13) owned and managed focused-service hotels (Hilton / Marriott flags) with annual revenue of $55 million with operations in multiple states. • Lead monthly and annual full income statement reporting from Revenue through Net Income. Responsible for balance sheet reporting including all fixed assets, debt, and equity accounts.• Develop financial components of long-term asset management modeling to incorporate refinancings, sell-hold strategy, and new development.• Manage financial proforma for new development projects to determine both leveraged and unleveraged internal rates of return. Write board presentation for new development deals.• Assist with market evaluation to include site visits, STR evaluation, and market study evaluation.• Key contributor to customer service team responsible for monitoring and acting upon new development challenges and opportunities from site evaluation through certificate of occupancy.• Implemented and trained property managers on flow through philosophy to maximize favorable revenue variances and mitigate unfavorable revenue variances. Implemented monthly reporting for senior management.• Implemented summary risk assessment tool to facilitate property audits and address high-risk areas.• Provided financial analysis and support for construction loans and refinancings totaling $120 million.• Integrated financial leadership and financial seat-at-the table for all aspects of company operations ranging from capital expenditure walk-throughs and budgeting, sales support, co-worker engagement, and customer service strategies. -
ControllerPrison Fellowship Ministries 2006 - 2008Lansdowne, Va, Us• Direct daily financial operations for Ministry consisting of four 501(c)(3) organizations with consolidated annual revenue of $50 million, 300 employees, 20 field offices, and finance staff of 15. • Position reports to CFO and manages 3 direct and 2 indirect reports. • Review and approve all month-end, year-end, and 990 financial reporting. • Reduced Ministry monthly close from 15 days to 7 days, annual audit completion by one month, and 990 submissions by 3 months. • Ensure all reporting and procedures comply with GAAP and IRS guidelines. • Assist officers and department leaders with monthly and ad hoc financial analyses and inquiries. • Assisted officers and department leaders complete annual budgets, budget maintenance, and updated forecasts. • Implemented new salary and benefit budget procedures to provide finance with detail to employee level. • Lead all aspects of annual audit by communicating directly with audit partner and staff to manage timeline, to clarify PBC requirements, and to draft statements. • Report annual audit results to the Audit Committee of Ministry. • Reduced annual audit fees 33% and eliminated non-value added internal activities. • Partnered with CFO to revise travel and contract policies to strengthen internal controls. • Selected new office supply vendor resulting in 23% reduction in office supply costs. • Transitioned Ministry from legacy expense reimbursement system to purchase card platform. Transition will achieve combined annual savings and rebates of $100,000. • Purchase card platform provides baseline to negotiate national contracts and establish preferred vendors. -
Director Of Contract And Owner ManagementMarriott International 2004 - 2006Bethesda, Md, Us• Acted as Director of Owner & Contract Management for the Renaissance North America Regional Team• Executed against contractual requirements between Marriott International and owner of twenty-six North American Renaissance Hotels. • Hotels generated annual revenue of $691 million in 2005. • Managed reporting requirements to Owner, including capital expenditure reporting, period and ad-hoc financial reporting, and annual reporting as required by contract. Partnered with legal counsel to communicate and receive approval from Owner of Marriott programs. • Completed extensive financial reviews communicating benefits and costs of Marriott programs. • Managed reconciliation and balancing of cash concentration account for 26 hotels. • Coordinated business plan & operating budget reviews between Owner and respective hotel management teams. • Completed Summary Risk Assessment audits at thirteen hotels, addressed deficiencies, and implemented action plans for improvement. • Completed extensive financial analysis and audit reviews surrounding $1.5 billion sale of Owner portfolio. -
Director Of FinanceMarriott International 2002 - 2004Bethesda, Md, Us• Functioned as strategic financial business leader of convention hotel generating $45 million in annual revenue. • Developed annual hotel business plan, annual operating budgets, ten-year capital expenditure budgets, and short and long-term forecasts. • Ensured hotel maintained strong control environment while maximizing return to Owner and Marriott. • Created various profit improvement and maximization analyses which helped improve house profit margin by 3 points over two years. • Implemented monthly critique meetings of balanced scorecard data to drive manager accountability and overall Hotel results. • Oversaw cash concentration account for twenty-six hotels owned by CTF-HPI. • Directly managed two assistant controllers and systems manager. • Ensured proper management of credit manager and five hourly associates. • Served on Renaissance Director of Finance leadership council; completed summary risk assessments at six hotels. • Recognized as Director of Finance of the Year for the Renaissance Brand in 2003. • Recognized for outstanding Owner Relations in 2003. -
Director Of FinanceMarriott International 2000 - 2002Bethesda, Md, Us• Functioned as strategic financial business leader of hotel that generated $20 million in annual revenue. • Developed annual hotel business plan, annual operating budgets, ten-year capital expenditure budgets, and short and long-term forecasts. • Directly managed one assistant controller and indirectly managed four hourly associates. • Trained and promoted two assistant controllers to senior assistant controller. -
Director Of FinanceMarriott International 1999 - 2000Bethesda, Md, Us• Functioned as strategic financial business leader of hotel that generated $14 million in annual revenue. • Developed annual hotel business plan, annual operating budgets, short and long-term forecasts, and ten-year capital expenditure budgets. • Ensured hotel maintained strong control environment. • Directly managed one assistant controller. • Ensured proper management of two hourly associates.
David Aungst Education Details
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James Madison University
Frequently Asked Questions about David Aungst
What company does David Aungst work for?
David Aungst works for High Hotels Ltd.
What is David Aungst's role at the current company?
David Aungst's current role is President at High Hotels Ltd..
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What is David Aungst's direct phone number?
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What schools did David Aungst attend?
David Aungst attended James Madison University.
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