Edward G Courey, Cpa Email & Phone Number

Middleburg, Va, Us

Resumed my relationship with Salamander Hospitality assuming the Director of Finance role at the flagship Forbes Five-Star resort easily accessible to Washington, D.C.

Conducted a review of accounting systems effectiveness. Reviewed process of configuration, transmission and proper use of data from purchasing and costing system through to general ledger. Audited the integration process from POS and PMS systems through to general ledger. Audited and reconciled all balance sheet accounts for all three legal entities comprising the business: operations, asset ownership, and HOA. Made recommendations to management for further integration of systems. Worked with outside auditors to finalize year-end audits.

Leeward Settlement, Providenciales, Tc

My role as director of finance evolved constantly since I joined Waterloo Hospitality division. There are five key elements that truly became the backbone of my role in the business; growth, aligned strategy, transformed operation model, managing forecasting and measuring revenue performance. By embracing the digital landscape, and developing long term financial growth opportunities and capabilities, we achieved;• Effective internal controls in place to ensure compliance with local regulatory laws and rules for financial and tax reporting. • Evaluated, in a pragmatic way, what the strategies were and what risks those strategies entailed by fully understanding what drives the hotels’ performance and have the systems and people with the expertise to adapt when assumptions start changing. • Provided the board and the bank’s COO with an organizational view of operational performance, and needs to drive performance and necessary associated changes.• Managed processes for financial forecasting, budgets, consolidation and reporting to shareholders and board of directors. Effectively and clearly communicated potential risks and proposed action plans to ensure that annual financial objectives were attained.• Drove and managed change and innovation within the organization by implementing new systems and digital software, including training of employees and key players crucial to support business strategies and objectives.

Middleburg, Va, Us

Directed takeover and opening of two five star hotels that comprise the Grand Resorts at Cap Cana and third hotel, under construction. Manage a staff of 22 encompassing accounting, finance, IT, purchasing, and storerooms and cost control. Transition and turned around from All Inclusive to mixed EP and Package environment. Resorts include seven restaurants, eight bars and four retail outlets. Reorganization of accounting department to ascertain operational goals and improve overall departmental practices and financials objectives. Determined asset target goals and established procedures and budgets to control cost and increase revenue.• Conversion and change of all critical accounting systems at the day of takeover (PMS, POS, Storeroom, Payroll, Guest Activity, Condo Hotel, Guest service monitoring). Assume responsibility for and takeover of receivables being handled by outside Service Company from previous administration resulting in increased collections and improving asset management. • Developed system to allow FAP package consumptions to be utilized by guests at all properties, making for a seamless guest experience resulting in F&B revenue increase by 20%.• Developed cash flow models to aid ownership in adequately planning for transition period, remarketing of All Inclusive Property, opening of Condo hotel and massive marketing and re-contracting efforts to reposition the hotel with the Dominican Market. Step up collection efforts and group sales contract monitoring to ensure timely collection of group deposits and payment of groups upon departure resulting in collection of receivables on a current basis.• Consolidation of accounting functions across both properties to effect cost savings and take advantage of synergies from duality of software systems.• Worked closely with Sales & Marketing team and local Golf courses developing packages enabling guests to enjoy a number of courses in the area within a single package payment.

Advise clients in hospitality, tourism, and real estate industries regarding proposed projects in the Caribbean and Latin America. Create sales proposals and maintain relationships with clients. Lead teams to prepare reports, develop financial projections, and make recommendations on project feasibility.Representative Projects:• Conducted 6 week operational review for 2,600 room mega resort resolving major system and package issues between reservations, sales, front office, finance and sales – recommendations implemented.• Prepared 10-year financial forecast for combined real estate / golf club project in Puerto Rico.• Conducted economic feasibility study for two projects (business hotel and residential resort) in Turks and Caicos; prevented poor investment by advising client that project was not viable due to market conditions.• Evaluated 50 proposals received by the Puerto Rican government for the re-development of convention center area; submitted recommendations to narrow the list to 5 finalists. • Led operating review and 10-year economic forecast for boutique agro-tourism resort in Puerto Rico.

Directed company executives through financial reorganization of hotel and fractional real estate development project. Managed all aspects of finance and accounting, including cash flow, real estate sales, and operational results. Oversaw aggregate financial reporting for 40 offshore entities. Made suggestions for reorganization. Led team of 50.• Negotiated with vendors to improve payment terms and cash flow; forestalled the receivership process.

Maintained financial responsibility for $150 million development of luxury hotel and villas, including monthly financial reporting, cash flow projections, client contacts, government liaisons, bank loan negotiations, and insurance placement.• Renegotiated terms on over $100 million of lines of credit, reducing interest expense by $3.5 million annually and facilitating growth.• Oversaw legal negotiations and crisis management after high-profile incident on the property; strategies reduced damage to resort by avoiding negative publicity. • Renegotiated equity interests of local investor from 50% to 10%, maintaining positive local image and minimizing financial repercussions of project shutdown.

Managed finance and operations for development of two resort properties by Norway-based developer. Oversaw project development planning and review, monthly financial statements, payroll, cash flow projections, site visits, contractual relations with vendors, and zoning and development matters. Managed complex cross-border currency, legal, and banking issues. Designed and implemented standard operating procedures to ensure financial compliance and effective tax planning. Managed team of four accountants. • Negotiated accounting aspects of complex cross-border currency issue between Spain and Norway that satisfied regulatory authorities and minimized tax impact.• Led successful negotiations with local authorities to gain approval for inclusion of golf courses. • Ensured that development was sustainable and eco-friendly and preserved the natural landscape while using sustainable architecture, including a novel minimalist golf course design that balanced functionality with preserving the local environment.

La Romana, La Romana, Do

Oversaw accounting function for 6,000-acre resort with annual revenues of $50 million. Managed staff of 100. • Implemented strict controls and standards for accounts receivable, reducing reserve for bad debt expense from 3% of sales to less than .05% of sales and saving approximately $1.25 million annually. • Instituted departmental budgeting system to ensure review of sales efforts and cost control issues; improved cost containment and reduced direct food and beverage lowered costs by $750,000 / year. • Devised new process of budgeting wages by position, leading to labor savings of $500,000 annually; reduced headcount to benchmark levels established for each area.• Uncovered and prosecuted an employee theft ring through use of unannounced mystery shoppers. Developed detailed audit review processes to control and investigate variances in consumption on inclusive packages, resulting in improved fraud control / detection and saving $500,000 annually. • Researched, coordinated, and negotiated the implementation of innovative PC-based property management and accounting system that improved efficiency and reduced food and beverage costs by $333,000 annually.

Oversaw all finance and accounting for rooms, casino, restaurants, food & beverage, and convention center divisions. Directed annual plan review process. Supervised staff of 40. • Integrated three separate accounting offices into one entity, eliminating duplications and centralizing accounting reporting; new structure reduced headcount by 25% and saved $175,000 / year.• Oversaw upgrade of computer systems, improving speed and accuracy of reporting. • Created and implemented strategies to redeploy resources, resulting in 15% increase in gross margin.

Oversaw expansion of chain from 10 to 15 unitsRestored a restaurant chain concern to profitability through reorganization, defining best processes, systems, procedures and practices.Developed effective chart of accounts, budget controls and budget systemsInstituted performance based bonus system tied to achieving budgetNegotiated and secured with lenders for expansion and consolidation agreements of existing debt, including better investments options.

Bethesda, Md, Us

• Instrumental in opening a 5 star International property in Panama City, Panama• Instrumental in initiation of new international accounting system• Key in the negotiation and subsequent takeover of hotel by new interests after initial failure on the part of the original ownership group.

Responsible for both the Reston Conference Center and Sheraton Silver Spring

Juris Doctor, Law

Mba, Finance & Investments

Bs, Accounting

Master Of Science - Ms, Personnel Financial Planning