Vice President, US Luxury Hotels and Mixed-Use Development
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Job Location:
Bethesda, MD - USA
Monthly Salary:
Not Disclosed
Posted on:
4 days ago
Vacancies:
1 Vacancy
Job Summary
The addition of new luxury hotels and branded residences is one of the principal drivers of Marriotts earnings growth strategy and an important element in maintaining and advancing the quality and brand equity of Marriotts Lodging System. The companys luxury unit growth strategy focuses primarily on acquisition of management contracts as well as licensing of our hotel brands for residential developments by third-party owners under residential license Vice President of Development performs a central critical role in identifying opportunities structuring deals and successfully closing transactions for new luxury hotels and residences as well as building successful relationships with new and existing hotel owners.
CANDIDATE PROFILE
Education and Experience
- Bachelors Degree or equivalent in Real Estate Hotel Administration or Business
- Fifteen or more years of real estate development hotel residential industry experience with at least seven years of hotel development or related experience
Preferred
- MBA or other advanced degree
CORE WORK ACTIVITIES
- Review and analyze potential luxury hotel conversion new-build or acquisition opportunities as well as potential residential opportunities for integration into Marriott International brand systems (luxury hotels).
- Travel to potential site visits owner meetings and lodging conferences to represent the luxury development team.
- Oversee all aspects of the development process internal to Marriott International including site inspections by brand market management and technical services representatives requesting feasibility studies and pro forma valuations and presenting the opportunity for approval by the appropriate Marriott committees.
- Ownership of the underwriting process for proposed residential projects residential projects in development and/or actively being sold including review of third party market studies requesting valuations and presenting the opportunity for approval by appropriate Marriott committees.
- In tandem with Marriotts Law Department negotiate terms and conditions of hotel management agreements residential association management agreements residential license and development agreements purchase joint venture or other agreements with owner/owners representatives. Ensure that agreement terms and conditions are acceptable to Marriott operating and staff executives.
- Provide guidance on minimizing risk related based on experience with other residential projects. Review draft Shared Services Agreements and Rental Agreements for all residential projects to make certain key terms and clauses are included and properly represented. Provide comments and feedback to Legal.
- Work with Marriotts Treasury and Project Finance departments to maximize returns on Marriott International investments in hotel projects.
- As needed assist owners and developers to identify and tap sources of financing for hotel acquisition or construction including Marriott sponsored financing programs.
- As required attend public hearings and meetings with regulatory agency officials to secure site plan engineering and other approvals necessary for the projects successful development.
- Share leads for other Marriott brand or product opportunities (e.g. Marriott Premium Brands MSB) with appropriate personnel.
- As requested participate in the resolution of workout situations.
- Track the competitive landscape in target markets and identify competitive and/or comparable brand positioning.
Marriott International is an equal opportunity believe in hiring a diverse workforce and sustaining an inclusive people-first are committed to non-discrimination onanyprotectedbasis such as disability and veteran status or any other basis covered under applicable law.
Required Experience:
Exec
Key Skills
- Change Management
- Financial Services
- Growing Experience
- Managed Care
- Management Experience
- Analysis Skills
- Senior Leadership
- Performance Management
- Process Management
- Leadership Experience
- negotiation
- Analytics
About Company
At Le Méridien, we are inspired by the era of glamorous travel, celebrating each culture through the distinctly European spirit of savouring the good life. Our guests are curious and creative, cosmopolitan culture seekers that appreciate moments of connection and slowing down to savou ... View more
