Stephen Clements Email & Phone Number

Director of Finance at The Altair Hotel Bay Harbor Islands

Directed the operations of the finance and accounting departments for one of the largest resorts and conference centers in South Florida.Managed the transition of the accounting functions of the company's golf course operation from a third party to be performed in-house.Successfully spearheaded the resort's fiscal plans during the Covid-19 pandemic by adjusting staff levels, eliminating non-essential expenses, and negotiating flexible payment terms with vendors. Also obtained PPP and EIDL loans and successfully applied for forgiveness of the PPP loans in excess of $3.5 million.Continuously analyzed operating expenses in all departments and negotiated agreements with new and existing vendors to reduce costs. These efforts resulted in up to 35% savings in food/beverage, housekeeping, and maintenance expenses.Produced monthly and annual financial statements with detailed analyses.Reviewed each division's profit and loss performance with its director.Prepared annual budget for all departments. Changed insurance carriers where necessary to obtain optimal coverage at lower premiums with cost efficient payment terms for property, liability, and workers compensation insurance.Created financial projections and budget forecasts for affiliated properties under development.

Us

Directed the accounting functions for the restaurant chain and for the retail candy division.Audit daily cash transactions resulting in saving the company thousands of dollars by preventing theft and fraud.Monitored labor costs to improve scheduling and reduce overtime; reducing 15% in labor expenses in one year.Generated sales reports from outlets nationwide evaluating revenue and regional sales trends.Produced pricing models for key clients and promotional campaigns for the retail candy division.Analyzed and reviewed contracts with outside vendors during negotiations to secure new business.Expedited processing new hires and coordinated service charge payroll for restaurant employees.

Jamaica, Ny, Us

Directed the operations of a multifaceted accounting department at a full service international airport hotel.Monitored receivables, representing 75% of hotel revenue, and succeeded at reducing aged receivables by 65%.Produced monthly, quarterly, and annual financial statements accompanied by detailed analyses submitted to corporate executives.Prepared annual budget for all hotel departments.Evaluated room revenue statistics by market segment which led to revised pricing strategies and increased sales.Served as liaison with the hotel's information technology service company to uphold system security and to maintain the property's hardware and software needs.Assessed existing contracts and negotiated agreements with new suppliers to lower expenses for similar or better quality items.Reduced fraud by conducting department audits and overseeing service recovery issues.Worked with various department directors to decrease labor costs and to increase efficiency.Developed purchase order system and department checkbooks to monitor expenses.Prepared monthly and quarterly sales and use tax returns.Approved all payments and ensure that they were posted accurately on the general ledger.Monitored cash flow to meet hotel and ownership needs.Supervised the conversion of accounting systems from Aptech Profitvue to M3 Accounting Core.Worked closely with the General Manager and corporate executives to ensure hotel and ownership goals were met.

Miami, Florida, Us

Specialist in all types of life, disability, and long term care insurance.Consulted with private and business clients to produce custom-designed financial plans to maximize wealth and increase protection on that wealth.Created a network exceeding 100 clients holding more than $75 million of life insurance coverage.Became proficient in The Living Balance Sheet, a proprietary program of the The Guardian Life Insurance Company.Developed an integrated marketing campaign consisting of monthly newsletters, direct mail, telephone, and email communications.Presented at bi-monthly seminars promoting the benefits of life, long term disability, and long term care insurance.

Represented eight major resorts and hotels on Grand Bahama Island.Developed on-line booking operations, raising percentage of direct business by 75% within one year.Negotiated bulk fare contracts with scheduled airline carriers to increase air service and reduce fares to the island.Managed the group sales department for the Tourism Board.Coordinated marketing promotions through web-based and print advertising resulting in unprecedented national and global reach.

Directed operations and managed the headquarters of an in-house tour operation for a 1,000 room resort in the Bahamas. Supervised 52 staff and 12 outside sales agents.Member of the Executive Committee of Princess Hotels International.Increased annual revenue by 88% to $48 million within four years by bringing nearly 110,000 guests to the resort annually.Instrumental in converting the tour operation's financial results from a loss to a profit ($2.6 million turnaround in one year).Initiated operations from eight new markets in the northeast and southern United States.Directed marketing/advertising campaigns with annual budgets in excess of $1.7 million.Conducted sales presentations to groups of travel agents and meeting planners.Appeared on TV and radio to promote the tour operation in each market it served.Developed an all-inclusive program which increased utilization of food and beverage outlets by more than 400% within two years.Controlled yield management for the resort to maximize occupancy and average rate.Inaugurated air-inclusive vacation program to Nassau/Paradise Island.