Timothy Cannon Email & Phone Number

Washington, Dc, Us

Bethesda, Maryland, Us

Oversee a portfolio of 9 full-service, luxury and resort assets totaling over 4,200 rooms, annual revenue of $650M and EBITDA of over $220M.Develop and implement short and long-term strategies, designed to sustain or improve the value of the portfolio through cash flow and long-term asset value enhancement initiatives. Explore and underwrite property level ROI opportunities in conjunction with strategy.Partner with management companies’ regional leadership and property leadership teams to realize operating goals and maximize the company’s return on investment. Build good relationships at the property and market level by traveling to the property and spending time in market.Partner with Host’s internal design and construction team, third party contractors and property teams to ensure capital projects are properly scoped, approved, completed on time and within budget.Responsible for supporting both internal and external counsel, accountants, appraisers and other consultants in property specific issues that regularly occur. Ensure that property specific compliance requirements are completed including accounting and quarterly reporting of financial statements, requirements of ground lessors, third-party lender requirements, settlement agreements, local taxing and zoning authorities.

Bethesda, Maryland, Us

Performed detailed on-property analyses to identify potential operational, labor and revenue opportunities. Coordinated with asset managers and property teams to implement recommendations. Analyses identified over $3M in potential profit improvements.Analyzed portfolio financial performance and communicated operational results to senior management. Provided all GOP related commentary for quarterly earnings calls.Reviewed potential acquisitions or third party management conversions and benchmarked target hotel to estimate potential profit improvements and/or validate underwriting. Established and monitored key performance indicators for each asset within the portfolio and worked with asset managers and property teams to drive incremental profit improvements. Built comprehensive dashboard to identify savings opportunity via increasing contract labor within the portfolio. Contract labor as a percentage of total hours increased 290 basis points with net wage and benefit saving ranging from $4 -$8 per hour.Performed ad hoc analysis related to strategic projects.

Bethesda, Md, Us

Finance and accounting department head for 1,144 room downtown hotel with annual revenue in excess of $109M.Built and managed operating budget and forecast for entire property. Worked collaboratively across all disciplines and departments to deliver on goals and successfully manage expenditures. Hotel exceeded 2013 budgeted operating profit margin by 0.9 points. Ensured accuracy of profit and loss statement and balance sheet as well as crafted and presented monthly and quarterly financial critiques to regional leaders and hotel ownership.Oversaw accounts payable, accounts receivable, payroll, income journal, general cashiering and managed seven full time associates.

Bethesda, Md, Us

Supported 72 Full Service and Ritz-Carlton hotels with operating and capital expenditure budgets, forecasting, benchmarking, profit improvement and ad hoc analysis.Developed tools to highlight key financial metrics and track regional initiatives. Improved reporting reduced time required for senior leadership to identify issues and trends within respective portfolios.Member of conversion team responsible for leading and training accounting management and staff through implementation of Marriott systems and processes. Successfully transitioned both the historic Essex House Hotel and the 2,000 room Gaylord National Resort.

Bethesda, Md, Us

Supported 148 Select Service and Extended Stay hotels with operating and capital expenditure budgets, forecasting, benchmarking, and company/region/brand initiatives.Championed expenditure tracking and productivity tools, trained internal stakeholders through seven classes of 12-80 attendees each and ultimately aided in operating cost reductions and increased productivity across portfolio.Partnered with development, architecture and construction, and operations leaders to develop pro forma analyses for new property developments within region.Led food and beverage profit improvement test with six Courtyard hotels over four months to determine optimal operating schedule for new outlet concept. Results were published for corporate use across the brand.

Bethesda, Md, Us

Reconciled balance sheet accounts on a period basis and prepared quarterly assessment for regional office as well as performed period close tasks and made all corrections and adjustments to financial statement.Prepared owner communications, financial review summary and processed payments for taxes, rent, insurance and intercompany funding.Managed associates responsible for property accounting functions and achieved all key performance goals during associate turnover. Interviewed, hired and trained new AR associate.Conducted annual, quarterly and periodic control audits and achieved a score of 95% on annual Summary Risk Assessment, a four point increase from previous year.Nominated Leader of the Quarter.

Bethesda, Md, Us

Completed 10 week intensive training program with available reference materials and job experts in order to attain fundamental understanding of accounting function as well as total hotel operations.

Boston, Ma, Us

Prepared event billings and reimbursements, processed invoices and payments, created payroll and gratuity reports, monitored safe fund and distribution of petty cash, and participated in weekly and annual financial meetings with senior leadership.

Bachelor Of Science, Economics/Finance

Study Abroad Program, Florence, Italy