VP of Business Development

Position Summary

The Vice President of Business Development position is an executive role responsible for originating, structuring, and closing third-party hotel management agreements on behalf of Hotel Equities. This individual will serve as the company’s primary growth engine in the eastern half of the United States — cultivating and maintaining relationships with institutional owners, private equity groups, REITs, family offices, debt funds, lenders, brands, asset managers, and consultants to position Hotel Equities as their first choice for full service and lifestyle hotels.

Essential Responsibilities

• Spend at least 75% of time on sourcing, negotiating, and closing third-party hotel management agreements for existing full service and lifestyle hotels in key markets across the eastern United States.
• Actively convert customer inquiries into executed contracts and develop future and repeat business contributing to the profitability of the company.
• Identify and pursue new business sales opportunities by use of the company database, networking, exhibitions and client entertainment.
• Determine key requirements to enter new markets, including undertaking marketing analysis, devising and implementing a sales and marketing strategy for the purpose of seeking out new business in all relevant market segments.
• Bid and obtain new clients, prepare proposals and ensure the company process is accurately completed for all proposals and new business gains.
• Analyze and research potential business growth and opportunities from existing clients and create a prospect list for targeting.
• Source, evaluate, and negotiate third party management contracts.
• Apply good judgment in assessing risks and rewards of new business opportunities and understand potential demand from various market participants.
• Network with hotel owners, brands, lenders, consultants, and other industry leaders.
• Attend hospitality industry events (owner conferences, investment conferences, brand conferences, and similar events).
• Submit weekly progress reports and ensure data is accurate for reporting.
• Ensure all response documents are free from errors, professionally represent and address the client questions.
• Support contract compliance through the negotiation of company contractual and payment terms, ensuring all aspects are understood and accepted.
• Work without constant supervision and willing to work outside the normal 9-5 with flexible working hours including some weekends to accommodate business needs.

Job Requirements

• Bachelor’s Degree
• Must have 5-10 years of experience in a similar role with a hotel management company or brand
• Excellent personal presentation skills and professionalism
• Excellent organization and prioritization skills
• Ability to work both as a team member and a team leader to achieve results in a teamwork environment
• Demonstrated ability to process new information quickly and respond aptly to change
• Strong demonstrated analytical skills, with experience in solving “real-life” business problems
• Strong interpersonal and communication skills (oral and written)
• Strong work ethic and dedicated to accomplishing goals
• Strives for excellence
• Budgetary analysis capabilities required
• Review market trends, understand pro formas, capital structures
• Be comfortable presenting to institutional investors and industry leaders
• Ability to travel extensively throughout the assigned region to meet with clients and prospects