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Vice President of Business Development
Location:
Provo, UT
Description:
JOB SUMMARY The Vice President of Business Development will play a key role in the company's strategic growth plan to grow and manage additional hotels in top markets. The primary responsibility is to secure hotel management contracts of portfolios or individual hotels that need a new partner as their third-party operator. They will identify and pursue hotel acquisition and management opportunities in target markets by leveraging industry contacts and networks. This role works with owners, networks to build new relationships, expands current brand relationships, devises lead referral networks, and works to strategically align future development and acquisition plans. ESSENTIAL JOB FUNCTIONS Partners with the executive team to strategically align company direction as it relates to future development, acquisitions, and growth of the company portfolio. Coordinate hotel efforts related to hotel acquisitions, dispositions, and other transactions. Support the financial analysis by working with appropriate team members to complete the development financial model. Work with appropriate team members to complete hotel acquisition due diligence including survey, environmental studies, internal and external stakeholder meetings, and documents required as part of the process. Ensure 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. Monitor and evaluate project performance against the baseline financial models prepared as part of the feasibility analysis once the development program is established. Manage financial analysis to keep project-specific economic models up to date. Build 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. Conducts fieldwork for market analysis and property inspections. Identify and pursue hotel acquisition and management opportunities in strategic markets by leveraging industry contacts and networks. Conduct feasibility studies and prepare operational and financial analyses for single hotel asset and portfolio. Plans all aspects of the organization's business development policies, objectives, and initiatives. Acts as a trusted advisor, consultant, and confidant to the President & CEO and senior leadership team, proactively offering advice, counsel, and thought partnership related to business development and growth objectives within the organization. Attracts and retains customers by developing creative outreach strategies along with senior leadership. Identifies and develops resources relevant to business development sales goals. Collaborates 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. Works 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). Provides financial oversight for all Business Development related expenses and budgets. Builds and evolves Business Development processes and company contracts. Drives diversity awareness and demonstrates behaviors that create a culture of acceptance, belonging, and inclusion. Cultivates professional and technical knowledge by attending educational workshops, Business Development conferences, reviewing professional publications, establishing personal networks, and participating in professional associations related to business development. Responsible for assessing target markets and analyzing business opportunities to grow the hotel portfolio. Grows current networks by sourcing leads and growing contracts. Review status of sales activity and sales pipeline with CEO and provide communication to Executive team as requested Deliver effective sales presentations to prospective and current customers Completes all required Company training/compliance courses as assigned. Adheres to Company standards and maintains compliance with all policies and procedures. Performs other related duties as assigned. EDUCATION Bachelor's degree or equivalent in related field. EXPERIENCE Two (2) years of hotel or commercial real estate development experience. Two (2) years of Hotel Management Contract Negotiation experience. A minimum of two (2) years of experience in the business development and B2B sales field. Two (2) years direct hospitality operations related experience. Prior hotel valuation, brokerage or acquisition analyst experience. Strong background in development including financial feasibility analysis, design, financing, permitting, construction, and project management preferred. Existing relationships with various brand development contacts is preferred. SUPERVISORY RESPONSIBILITIES Spends the majority of the time (50% or more) achieving organization objectives, often through the coordinated achievements of team members. Analyzes and resolves problems, determines work techniques, monitors for regulatory compliance, maintains production, interprets and creates policies, and demonstrates solid subject matter knowledge. Establishes departmental goals and objectives, functions with independence, and makes decisions on matters of significant importance. Manages human, financial, and/or physical resources; proactively assesses risk to establish systems and procedures to protect organizational assets. Exercises judgment within defined procedures and policies to determine appropriate action. Develops systems to ensure team members adhere to policies and procedures in compliance with organizational goals and objectives. Specific supervisory duties include, but are not limited to the following: Establishes objectives and goals for the company under business development; plans, organizes, and manages workflow. LICENSES & CERTIFICATIONS This position does not require licenses or certifications. SKILLS & ABILITIES This position requires the capability to understand and follow both oral and written directions, as well as knowledge and usage of correct business English and office practices. Must be able to communicate effectively with others, analyze and resolve problems, maintain effective working relationships, and interact successfully with internal and external customers. Strong leadership presence with the proven ability to influence and drive change with senior leaders in scaling the organization and establishing business goals for growth. Must possess attention to detail, confidentiality, integrity, and the ability to maintain a high level of professionalism in a fast-paced dynamic environment. Ability to quickly build strong relationships with multiple partners and owners. Self-driven, able to work independently. Strong financial acumen and experience in creating hotel pro formas for new business opportunities. Critical thinking skills: able to develop, document, and effectively communicate strategies. Strategic account management, closing, and negotiating skills. Excellent communication, presentation, reporting, and interpersonal abilities and skills. Strong organizational skills. Proven networking skills using social media and LinkedIn with the ability to identify sales leads. Computer proficiency in Google Workspace. Computer proficiency in Microsoft Word, Excel, and Outlook. Understands how to develop and implement business strategies. Ability to interpret and create policies, procedures, and manuals. Proficient in time management; the ability to organize and manage multiple priorities. Ability to take initiative and effectively adapt to changes. Able to establish and maintain a cooperative working relation. Able to use sound judgment. Strong analytical and problem-solving skills. Performs well with frequent interruptions and/or distractions. TRAVEL REQUIREMENTS 60% travel required. DISCLAIMER This job description indicates, in general terms, the type and level of work performed as well as the typical responsibilities of team members in this classification. The duties described are not to be interpreted as being all-inclusive to any specific team member. Nothing in this job description changes the at-will employment relationship existing between the Company and team members. The Essential Job Functions, Physical Requirements, and Work Environment characteristics described are representative of those that must be met to successfully perform the essential functions of this job. Management reserves the rights to add, modify, change, or rescind the work assignments of different positions and to make reasonable accommodations so that qualified team members can perform the essential functions of the job. About Lodging Dynamics Hospitality Group : Lodging Dynamics Hospitality Group is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture. Lodging Dynamics does not discriminate based on disability, veteran status, or any other basis protected under federal, state, or local laws. Lodging Dynamics Hospitality Group is based in Provo, Utah and is a nationally recognized, award-winning operator of premium-brand, select service, and extended-stay hotels, and one of a few third-party operators approved by Marriott and Hilton. The Company has managed hotels in the Marriott, Hilton, Hyatt, and IHG premium-brand families. For more information, visit www.lodgingdynamics.com . Job Posted by ApplicantPro
Company:
Lodging Dynamics
Posted:
December 26 2023 on ApplicantPool
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More About this Listing: Vice President of Business Development
Vice President of Business Development is a Executive VP Of BD Job at Lodging Dynamics located in Provo UT. Find other listings like Vice President of Business Development by searching Oodle for Executive VP Of BD Jobs.
Vice President of Business Development is a Executive VP Of BD Job at Lodging Dynamics located in Provo UT. Find other listings like Vice President of Business Development by searching Oodle for Executive VP Of BD Jobs.