Ivan Cukon

Ivan Cukon

Manager – Real Estate & Hospitality Transaction Advisory Services at Ernst & Young
Lives in Miami, FL, United States
over 6 months ago

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Experience

  • Manager – Real Estate & Hospitality Transaction Advisory Services

    Ernst & Young - Miami, FL, United States

    Consulting
    October 2018 - Now · 4 months

    Conduct feasibility studies for hotel and mixed-use developments/conversions (residence, retail, condominium-hotels, vacation rentals, membership clubs, golf, cruises and others) on behalf of developers, lenders, and investors in the US, Caribbean, and LATAM. Studies included market and lodging analysis, competitive set penetration analysis, cash flow/sellout underwriting, IRR scenario calculations, positioning and facilities program recommendations. Perform buy-side due diligence processes, including assessment of revenue and departmental/undistributed expenses, historical operating trends, and quality of earnings. Supervised analysts/senior analysts through the completion of projects valued at $10B+. Completed marquee development projects/transactions: • Baha Mar Resort & Casino including Rosewood, SLS and Grand Hyatt hotels in Bahamas • Four Seasons in South Florida and Caribbean • Mandarin Oriental in South Florida and Caribbean • The Ritz-Carlton Reserve in Caribbean and LATAM • Waldorf Astoria Resort & Club in South Florida • Babcock Ranch (lodging, sports and entertainment complex) on the West Coast of Florida Successfully performed valuation, due diligence, and financial statement analysis for $5B+ in commercial and hospitality real estate assets, both international and domestic, for reporting fair market value. Clients include: Blackstone, D.E. Shaw Group, Goldman Sachs, Marriott International, Och-Ziff Capital Management, Perella Weinberg, Starwood Capital and Westbrook Group.

  • Senior Associate – Real Estate & Hospitality Transaction Advisory Services

    Ernst & Young - Miami, FL, United States

    Consulting
    May 2015 - September 2018 · 3 years and 5 months

    Organized valuations, feasibility, and development studies for clients representing $8B+ in hospitality assets located across US, Caribbean, and LATAM, including renowned luxury hotel and resort brands. Underwrote company valuations of potential acquisition targets and identified key improvement opportunities. Performed management contract reviews, company selections, and negotiations as well as assembled valuations, feasibility, and development studies. Led internal team of associates from project inception through completion.

  • Investment Analyst

    Valamar Riviera - Zagreb, Croatia

    Real Estate
    February 2012 - January 2015 · 2 years and 12 months

    Right-hand associate for a board member overseeing acquisitions, strategic asset management, internal integration of several publicly-traded entities and restructuring after integration. Strategically underwrote company valuations of potential acquisition targets and formed 10-year investment plan for existing portfolio properties. Supported integration of group companies into one corporation and benchmarked competitors to develop scalable company structure post-integration. • Piloted largest tourism sector merger in Croatia, which merged three publically traded companies • Conducted 100+ valuations of hospitality and tourism sector assets, along with 70+ feasibility studies

  • Strategy Consultant

    THR Innovative Tourism Advisors - Barcelona, Spain

    Consulting
    February 2010 - August 2010 · 7 months

    Accepted six-month contract working on various projects before starting master degree program. Initiated detailed research, market analyses, and composed actionable strategies to augment company’s financial market position in tourism sector. • Kindled visitation growth to Romania after contributing to marketing plan that aligned country as well-known tourist destination. • Arranged parameters that established flagship property for Plava Laguna d.d. by assembling business plan for first adult-only resort in Croatia. • Supported Relais & Châteaux in rolling out new products and services by outlining comprehensive marketing plan for renowned luxury hotel and resort brand that delivered roadmap for launch. • Provisioned extensively investigated recommendation for building new cruise port of departure in Morocco; gauged Mediterranean cruise market demand and profiled main port departure and ports of call in the Mediterranean.

  • Management Trainee

    The Setai South Beach - Miami Beach, FL, United States

    Rooms division
    July 2008 - January 2010 · 1 year and 7 months

    Coordinated 60+ associates before transitioning into front office leadership role to supervise 20+ associates. Ensured 100% confidentiality regarding activities of high-profile guests to preserve establishment’s reputation for diplomacy and discretion through selective communication. • Successfully earned highest rating in hotel’s history (100/100) from Leading Hotels of the World by crafting templated SOPs for exceeding guest expectations and mentored team on best-in-class service SOPs to empower them to exceed expectations. • Maintained position during staff reductions resulting from economic crisis.

Education

Languages

  • Croatian
    Native or fluent
    100%
  • Italian
    Native or fluent
    100%
  • English
    Native or fluent
    100%
  • Spanish
    Professional working
    60%
  • German
    Limited working
    40%

Skills

  • Acquisition/Merger Valuations
  • Business Negotiations
  • CONCEPT DEVELOPMENT
  • Feasibility Studies
  • Financial analysis
  • Hotel Asset Management
  • Management Consulting
  • Market Research/Analysis
  • Performance Forecasts
  • Project management
  • Real Estate Development
  • Strategic Planning
  • Supply/Demand Analysis
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