PROFESSIONAL HISTORY
Vice President of Finance, Regional Controller
1999-2002
Developed long range financial plans, annual business plans, operating and capital budgets for Four-Star resort and club with $55 million in annual sales, 295 rooms, $14 million in Food and Beverage, four golf courses, spa, $3 million in retail sales, and 2,800 members. Analyzed and reported financial results and plan variances to owners and management. Re-forecasted and modified financial plans on rolling forward basis. Directed and managed staff of 28 in the Accounting, IT, and Purchasing departments.
Managed constantly changing financial aspects of property during three year transition from construction to operations of multi-faceted $62 million expansion.
Served as interim-President during eight-month transitional period, providing leadership and focus to management team and achieving budgeted financial results.
Facilitated communications between owners and managed resort in Mexico, adding $800,000 annually to bottom line.
Chief Financial Officer 1993-1999
Directed all financial aspects for member owned equity club and resort with $50+ million in annual revenues, 400 rooms, $12 million in Food and Beverage sales, two golf courses, 175-slip marina, $1 million in commercial leases, and 3,500 members. Analyzed and reported financial results and plan variances to Board of Directors and management. Projected seasonal cash flows and managed credit lines and long-term debt. Managed insurance programs and community/governmental relationships in regard to property taxes. Improved and streamlined accounting and internal control systems, policies and procedures. Evaluated, selected and installed new financial, POS, and PMS systems. Managed all aspects of audits, tax strategies, and preparation of Annual Financial Report. Directed and managed staff of 25 in Accounting, IT, and Purchasing departments.
Developed and implemented business plans with senior management to increase sales from $30 to $50 million.
Took cash flow from $4 million negative to $4 million positive.
Sold $20+ million of membership equities that were reinvested in business.
Increased equity prices from $30,000 to $125,000.
Secured new underwriter and reduced annual property insurance premiums by $300,000 (25%) while increasing coverage limits at high wind, flood risk property.
Reduced interest expenses by $250,000 by restructuring loans and developing positive lender relationships.
Partner and Consultant 1991-1993
Developed marketing and sales programs for residential and commercial properties. Developed business and operating plans to improve performance of distressed, lender-owned hotel and resort properties to reposition them for sale.
Started-up brokerage company, reaching break-even point within six months and distributing profits to partners thereafter.
Sold three resort and hotel properties worth $15 million in total sales.
Chief Financial Officer / Controller / Financial Analyst 1973-1991
Directed all financial aspects of real estate and Four-Star resort development with annual sales of $85 million, 1,200 condominiums, 300 home-sites, four ski mountains, 1+ million skier days, two golf courses, conference center, three resort villages, and other leisure-time activities. Controlled capital appropriations, contract administration, and project cost accounting for $300+ million of development. Developed and executed strategic business plans with senior management team. Managed and directed staff of 60 in the Accounting, IT, and Purchasing departments. Directed financial analysis and evaluation of all capital investments.
Increased sales and operating income by 9.5% and 11% (CAGR), respectively, from 1984 to 1991 and improved return on assets by 23% in maturing industry.
Completed $15 million of residential development on schedule within budget by stepping in to manage design and construction department on interim basis.
Acquired and zoned over 1,700 development units at ski area base, plus land for future golf course expansion, by assembling 800+ acres of land at below market prices.
Sold $10 million of undeveloped land, ensuring long term profitability by packaging real estate brokerage and property management operations with land sales.
Re-capitalized $75 million of assets into limited partnership, retained control for owners, and raised $15 million of additional funds for expansion; generated additional management fee revenues of $250,000.
Financed construction, operation, and marketing of $10 million conference center; secured 100% financing for project and negotiated transaction.
EDUCATION
University of Denver
MBA
Iowa State University
BS, Business Administration; Accounting Major
State of Colorado
Former Licensed Realtor |
