Vice President of Hotel Development- M&R Hotel Management, NY

Job Description

Job Description

Vice President of Hotel Development

SUMMARY :

The Vice President of Hotel Development will be a senior strategic leader tasked to grow company’s portfolio of third-party managed hotels by identifying appropriate opportunities, developing budgets and proformas, negotiating contracts and coordinating with the company’s executive, marketing, operations and legal teams.

The anticipated salary range for this position is $130,000–$160,000 annually . M&R Hotel Management carefully evaluates multiple factors when determining compensation, including work location, professional background, experience, and performance. Final compensation decisions are made based on the specific facts and circumstances of each individual case.

In addition to base salary, this role is eligible for a generous annual incentive bonus aligned with established performance targets, as outlined in the Incentive Plan.

RESPONSIBILITIES :

• Partner with Executive Team to strategically align company direction as it relates to future hotel development, acquisitions, and growth of the company portfolio.
• Oversee hotel acquisitions, dispositions, and other transactions by working with appropriate team members to complete structured due diligence which includes survey, environmental studies, internal and external stakeholder meetings, and documents required as part of the process.
• Actively work to Identify and pursue hotel acquisition and management opportunities in strategic markets by leveraging industry contacts and networks.
• Lead compliance with key agreements including franchise, purchase & sale agreement, ground lease, permits, and appropriate licensing.
• Partner and lead process of multiple stakeholders including investors, consultants, municipalities, operations, designers, architects, and project management as part of the business development process.
• Oversee project performance against the baseline financial models prepared as part of the feasibility analysis once the development program is established.
• Establish and maintain a network of key franchisor contacts, investor partners, landowners, brokers, and hotel consultants and appraisers.
• Prepare hotel financial operating projections, development budget, debt assumptions and overall investment return analysis in coordination with appropriate stakeholders.
• Conduct fieldwork for market analysis and property inspections.
• Conduct feasibility studies and prepare operational and financial analyses for single hotel assets and portfolio.
• Oversee all aspects of the organization's business development policies, objectives, and initiatives.
• Acts as a trusted advisor, consultant, and confidant to the COO & CEO and senior leadership team, proactively offering advice, counsel, and thought partnership related to business development and growth objectives within the organization.
• Partner with leadership, as appropriate, to ensure best in class owner experience in all cases of owner interactions from follow up to delivery to needs assessment.
• Work in line with the operational procedures of the organization towards revenue generation and growth goals selling all corporate services (accounting, revenue management, digital marketing, and sales).
• Provide financial oversight for all Business Development related expenses and budgets.
• Build and evolve Business Development processes and company contracts.
• Review status of sales activity and sales pipeline with COO and provide communication to Executive Team as needed
• Deliver effective sales presentations to prospective and current customers.

REQUIREMENTS :