Prem Pareek

• Executive committee member responsible for overall finance and compliance of the complex.
• Responsible for Marriott-driven audits: ISRA, CSAT, and assets and liabilities reconciliation.
• Managed company cash flow by monitoring daily transactions and optimizing working capital.
• Facilitated process improvements with successful implementation and adoption of automated tools, increasing efficiency within the finance function.
• Improved financial performance through thorough analysis of company expenditures and revenues.
• Reduced financial risk with comprehensive credit management strategies, strengthening the company's financial position.
• Enhanced internal control systems and procedures to mitigate risk and support opportunities.
• Enhanced stakeholder confidence through transparent communication of financial strategies and outcomes.
• Business plan, monthly closures, forecast, capex.
• Supporting hotel management in strategic business planning and data analysis for a better understanding.
• Development of team members and supporting cross-departments to align with the procedures.
• Team of 25 members, including independent finance controllers for both properties.

• Company Overview: The Leela Palace New Delhi – A flagship hotel from its remarkable architecture and interiors to its ambrosial gastronomy and meaningful experiences, this glorious modern palace is a true muse of the city's multifaceted legacy. Revel in unparalleled opulence at The Leela Palace New Delhi, a hotel that redefines excellence and celebrates luxury, with the graciousness of true Indian hospitality.
• Responsible for overall finance and compliances of the flagship hotel of The Leela group.
• Business plan, monthly closures, board meeting deck, forecast, capex control
• Successfully managed multiple audits, ensuring accurate financial information was presented to external parties without discrepancies or delays.
• Enhanced stakeholder communication by producing clear, concise, and timely financial reports that supported informed decisionmaking.
• Streamlined financial processes by implementing efficient budgeting and forecasting systems.
• Managed company cash flow by monitoring daily transactions and optimizing working capital.
• Mentored junior finance team members, fostering a culture of continuous learning and professional development within the department.
• Implemented internal controls for enhanced compliance with regulatory requirements and reduced errors in reporting.
• Reduced process discrepancies through measured implementation of performance reporting and data systems.
• Drove profitability improvements by analyzing product line revenues and adjusting strategies accordingly.
• Implemented and regularly reviewed financial controls to generate accurate and reliable financial data.

• Business finance head for KFC - India | Largest Quick Service Restaurant chain in India running #400 plus stores and growing… Responsible for overall Finance - Operations for KFC India.
• Revenue management with business evaluation aligning to the long term plans
• Annual operation plan and periodically forecasting
• Business performance assessment of new stores- special squad
• Closely monitoring daily business activities and alignment with ops team
• Evaluation of new store proposal and decision making
• Capex and overall Operation expenditure
• Cost optimization
• Review of monthly MIS and presentation to management
• Review on monthly expense provisions of stores
• Weekly store level performance analysis with ops team and market managers
• Future outlook projections
• Day to day financial activities , inventory and banking controls
• Coordination with all cross function departments
• Stores financial excellence audits, further discussion with business CEO and leadership team

Director of Finance - Ibis New Delhi Aerocity (December 2017 to June 2019)

Finance controller for ibis Mumbai (February 2016 to November 2017)

• Company Overview: Ibis hotels in India are run by a joint venture set up between AAPC Singapore and InterGlobe Enterprise (IGE). JV has a shareholding pattern of 40% by AAPC Singapore, and 60% by IGE. IGE runs a flagship aviation company – Indigo Airlines, the largest airline in India. Group is also a leading name in aviation, hospitality, IT, education, and real estate in India.
• Focusing on the implementation of appropriate processes, metrics, and controls to manage business risks and ensure a strong accounting and operational control environment exists to safeguard assets, improve operations, and profitability in the portfolio.
• Working closely with the VP of Finance, Accor India and South Asia, for key activities in the ibis hotels.
• Managing monthly P&L performance calls with portfolio hotels, along with the ownership team.
• Quarterly review, asset review, and performance review meetings with ownership and Accor India executive committee members.
• Driving best practice sharing among hotel finance leaders.
• Facilitating the area's business planning processes (operating and capital budgets, forecasts, risk assessments, and internal audits), standard reporting processes (month-end reporting, annual statement of operations, etc.), and compliance with local tax, financial, accounting regulations, and management agreements.
• Providing direction and support to hotel finance heads and general managers for finance operations.
• Managing strong owner relationships in the area involves understanding the owner's perspectives and ROI expectations, proactively anticipating and addressing needs, and managing an effective balance between the owner's and Accor Hotels' interests by developing solutions that create value for both.
• Focus on developing high-caliber talent that makes a strong, positive impact on the organization.
• Partners with the VP of Finance for India and South Asia to develop strategies for succession planning and career development.
• Proactive support to hotels in troubleshooting for budgets, execution of key finance projects, property costs, internal controls, cross audits, and compliance.
• Providing guidance to hotels on taxation and USALI accounting.
• Closure of financial books as per the Indian Accounting and Financial Standards.
• Actively working on various projects: data analytics, finance centralization, central procurement, payment gateway, etc.

COVID-19 – Survival and support to PAN India ibis hotels. The year 2020 was really a challenging one, with nationwide and global lockdowns; overall, the business of hotels was impacted badly.

• Immediate activation of contingency plan with effective implementation
• Restructured hotels payroll
• Reviewed fixed expenses, renegotiated and realigned
• Supported and guided to hotels FC's and GM's during the year on various critical issues and to maintain financial health of the company
• Restructuring of finance manning for the ibis portfolio aligning to the business
• Strong implementation and regular review of contingency plan with hotels team

• Renaissance Hotel Lucknow (April 2015 - January 2016)
• Courtyard by Marriott, Ahmedabad (July 2013 to August 2014)

• 5 Star deluxe Hotel