Ashfaq Khan
Dubai
Summary
Strategic and results-oriented Director of Finance with over 25 years of progressive experience in the hospitality industry across Middle East (Dubai, UAE and Saudi Arabia), overseeing multi-property financial operations, driving profitability, and ensuring compliance with global brand standards. Proven record in budgeting, forecasting, asset management, and financial systems optimization. Adept at leading cross-functional teams and partnering with GMs and ownership groups to achieve operational excellence and sustainable growth.
Overview
33
33
years of professional experience
1
1
Certification
Work History
Director of Finance (Conversion)
Renaissance Business Bay Hotel
01.2024 - Current
- Oversee all financial operations including budgeting, reporting, payroll, IT, and procurement for a luxury hotel.
- Partner with the General Manager and Executive Committee to optimize financial performance and operational efficiency.
- Implemented cost-control and procurement initiatives, reducing annual operating expenses by 5%.
- Spearheaded the digital transformation of finance systems (PeopleSoft, Birchstreet, Infrasys POS).
- Lead financial strategy, planning, forecasting, and variance analysis aligned with organizational goals.
- Manage cash flow, financial risk, and balance sheet to ensure optimal financial health.
- Ensure compliance with accounting standards, internal controls, and audit requirements.
- Supervise the preparation of financial statements and coordinate external audits.
- Lead and mentor a 14-member finance team, fostering capability development and accountability.
- Collaborate cross-functionally to streamline processes and enhance financial transparency.
- Stay current with industry trends, regulations, and best practices to drive continuous improvement.
- 5, 251 Rooms
Cluster Director of Finance
Grand Millennium Business Bay & Grand Millennium Hotel
01.2022 - 01.2024
- Directed financial operations across two full-service hotels totaling 590 rooms, ensuring accurate reporting and brand compliance.
- Partnered with GMs and area finance teams to align financial strategy with organizational goals.
- Oversaw budgeting, forecasting, and variance analysis to achieve performance targets.
- Managed cash flow, audits, and internal controls to mitigate financial risks and maintain compliance.
- Supervised financial reporting, including P&L, balance sheets, and cash flow statements.
- Led, trained, and motivated finance teams to strengthen accountability and operational excellence.
- Drove process improvement and cost optimization initiatives across both properties.
- Monitored hospitality trends and regulations to ensure ongoing compliance and financial efficiency.
- 2 Properties
Director of Finance (Pre-opening)
Movenpick Hotel & Living
01.2021 - 01.2022
- Pre-opening stage consisting of 403 rooms hotel.
Director of Finance (Pre-opening)
Sofitel Dubai Downtown
01.2013 - 01.2021
- Successfully opened consisting of 350 rooms hotel.
Director of Finance (Pre-opening)
Al Ghurair Arjaan & Rayhaan by Rotana
01.2012 - 01.2013
- Successfully opened consisting of 620 rooms hotel.
Financial Controller
Burjuman Arjaan by Rotana
01.2008 - 01.2012
Asst. Financial Controller
Al Murooj Rotana Hotel & Suites
01.2006 - 01.2008
Chief Accountant (reporting directly to Director of Finance)
The Westin Jeddah Hotel & Suites (Starwood Hotels & Resorts)
01.2004 - 01.2006
Cluster Chief Accountant (reporting directly to Director of Finance)
Sheraton Medina (Starwood Hotels & Resorts Worldwide Inc.)
01.2000 - 01.2004
Accounts Payable Supervisor (Promoted from Night Auditor cum FO Cashier)
Sheraton Jeddah Hotel & Villas (Starwood Hotels & Resorts Worldwide Inc.)
01.1995 - 01.2000
- Independently managed Accounts Payable for main hotel operations, villas, resorts, and external catering contracts, including Al Salaam Hospital.
- Coordinated supplier payments, invoice verification, and monthly reconciliation with Purchasing and Cost Control departments.
- Prepared monthly accruals, capital project summaries, and key financial analyses.
- Oversaw journal entries, general ledger, and bank reconciliations to ensure accurate monthly closings.
- Supported the Director of Finance in budget preparation, capital planning, and management reporting.
- Supervised storekeeping functions across F&B, General, and Engineering departments to maintain financial accuracy and compliance.
Front Office Cashier/Night Auditor (Pre-opening)
Kandara Palace Hotel (Taj Group of Hotels)
01.1993 - 01.1995
Education
Master of Business Administration (MBA) - Finance
Sikkim Manipal University
IndiaBachelor of Commerce - Advanced Accounting & Auditing
Shivaji University
IndiaSkills
- Financial Planning & Analysis (FP&A)
- Hotel Accounting & Internal Controls
- Budgeting, Forecasting & Variance Analysis
- Strategic Business & Capital Planning
- Owner & Brand Reporting (Marriott, Hilton, Accor)
- Cash Flow & Asset Management
- USALI & GAAP Compliance
- Hotel Operations, Payroll & Financial Analysis
- Advanced Financial Software & ERP Systems (PeopleSoft, SUN, Birchstreet)
- Audit & Risk Management (Internal / External / Government)
- Leadership, Staff Development & Cross-Functional Collaboration
- Process Optimization & Performance Improvement
- Decision-Making based on Financial Insights
- Strong Analytical, Problem-Solving & Communication Skills
- Hotel Pre-Opening & Conversion (Finance Department Setup & Stabilization)
- Financial Planning, Budgeting, Forecasting & Analysis
- P&L Oversight, Cash Flow & Balance Sheet Management
- Internal Controls, Policies & SOP Implementation
- Procurement & Contract Management
- Project Financing & Cost Control
- Audit & Compliance (Internal / External / Government)
- Taxation (VAT), Insurance & Credit Management
- IT Systems & Process Optimization
- Staff Training, Leadership & Development
- People Soft, Infrasys POS, SUN Infor back office, SUN back office, SUN/Opera Vision Reporting Tool, SCALA back office with confident knowledge in terms of operations and basic troubleshooting tasks, SCALA Reporting & Planning Tools, OMICRON back office, Opera PMS, FIDELIO PMS & Back office, CARAHOST PMS, YBT (Oasys – HRMS) & Sky Bayan Payroll Software, ADACO Inventory Module, FBM/SCM/FMC/Birchstreet Inventory Module
- Sound knowledge of Operating and basic troubleshooting of MS Windows, Professional experience and hands on expertise on MS Office
- Managing IT related issues, including administration of Servers, basic troubleshooting of problems on Servers and with the users
- Well versed with the latest technologies, including email system (MS Outlook & Lotus CC Mail), VPN connectivity and Wide Area Connectivity apart from Intra network
- Power BI, QB
- Tools: Power Query, Pivot Tables, Financial Modeling
References
Available upon request.
Certification
Financial Accounting for the Hospitality Industry (Educational Institute of the American Hotel & Motel Association, Michigan, USA)
Languages
English, Hindi, Arabic (Conversational)
Timeline
Director of Finance (Conversion)
Renaissance Business Bay Hotel
01.2024 - Current
Cluster Director of Finance
Grand Millennium Business Bay & Grand Millennium Hotel
01.2022 - 01.2024
Director of Finance (Pre-opening)
Movenpick Hotel & Living
01.2021 - 01.2022
Director of Finance (Pre-opening)
Sofitel Dubai Downtown
01.2013 - 01.2021
Director of Finance (Pre-opening)
Al Ghurair Arjaan & Rayhaan by Rotana
01.2012 - 01.2013
Financial Controller
Burjuman Arjaan by Rotana
01.2008 - 01.2012
Asst. Financial Controller
Al Murooj Rotana Hotel & Suites
01.2006 - 01.2008
Chief Accountant (reporting directly to Director of Finance)
The Westin Jeddah Hotel & Suites (Starwood Hotels & Resorts)
01.2004 - 01.2006
Cluster Chief Accountant (reporting directly to Director of Finance)
Sheraton Medina (Starwood Hotels & Resorts Worldwide Inc.)
01.2000 - 01.2004
Accounts Payable Supervisor (Promoted from Night Auditor cum FO Cashier)
Sheraton Jeddah Hotel & Villas (Starwood Hotels & Resorts Worldwide Inc.)
01.1995 - 01.2000
Front Office Cashier/Night Auditor (Pre-opening)
Kandara Palace Hotel (Taj Group of Hotels)
01.1993 - 01.1995
Bachelor of Commerce - Advanced Accounting & Auditing
Shivaji University
Master of Business Administration (MBA) - Finance
Sikkim Manipal University
Training & Award
Renaissance Business Bay Hotel (Marriott), Dubai, UAE scored 100.0% in Marriott Self Audit., Renaissance Business Bay Hotel (Marriott), Dubai, UAE scored 100.0% in A&L Outsource Review., Sofitel Dubai Downtown scored ‘A’ rank on Accor Internal Audit (Year-2019)., Certificate of recognition towards the successful opening of Sofitel Dubai Downtown, Dubai., In Appreciation of 5 years dedicated service award at Accor (Sofitel Dubai Downtown)., Certificate of recognition towards the successful opening of the Al Ghurair Arjaan & Al Ghurair Rayhaan by Rotana, Dubai., In Appreciation of 5 years dedicated service award at Rotana., Certificate of Achievement in recognition of successful completion of the Zodiac Management Program held at Al Murooj Rotana Hotel & Suites, Dubai, UAE., Certificate of recognition in successful completion of The Managing Employee Development Training held at Al Murooj Rotana Hotel & Suites, Dubai, UAE on 22nd January, 2007., Certificate of recognition in successful completion of Introduction to Interviewing Skills Training held at Al Murooj Rotana Hotel & Suites, Dubai, UAE on 29th May, 2007., Certificate in recognition of successful completion of Group Training Techniques (Pro-Training) from 25th to 27 September 2007 held at Al Murooj Rotana Hotel & Suites, Dubai, UAE., Certificate in recognition of successful completion of Basic Medic First Aid (CPR Inclusive) held at Al Murooj Rotana Hotel & Suites, Dubai, UAE on 18th February, 2007., Certificate of Achievement in recognition of successful completion of the Sheraton Guest Satisfaction System held at the Sheraton Jeddah Hotel and Villas from March 17 to March 18, 1996., Appreciation of Service Award in recognition of winning The Employee of the Month award, December 1997 given by Sheraton Jeddah Hotel and Villas, Jeddah, Saudi Arabia., Certificate of Excellence in recognition of winning Hotel of the year 1997 given by Sheraton Jeddah Hotel & Villas, Jeddah, Saudi Arabia.