The Senior Vice President, Business Development will report to the Chief Development Officer and be responsible for driving Remington's growth in the third-party management business by leveraging industry relationships and identifying new management opportunities. This position is a vital member of Remington's Business Development Team and will represent Remington's third-party business to the industry. This person will drive Remington to become one of the top third-party management companies in the industry.
The successful candidate should have demonstrated new business development skills, exceptional personal presence, refined financial acumen, and deep relationships across institutional investor and family office communities. This person can combine strategic thinking and sharp execution skills with relentless energy to exceed financial targets and company objectives.
Role Responsibilities
- Source, negotiate, and execute long-term hotel management agreements by developing key business relationships with hotel developers, owners, investors, lenders, and capital partners.
- Partner with the Chief Development Officer, senior executives, and stakeholders to ensure that departmental strategies safeguard against conflict of interests and guarantee a unified front in Remington's business direction.
- Evaluate investment opportunities necessary to secure hotel management agreements, including key money and sliver equity placements.
- Lead all phases of the business development process, including sourcing opportunities, conducting site inspections, leading presentations, working with the Analytics team in reviewing market feasibility studies and producing pro formas and investment analyses, coordinating RFP responses, and negotiating hotel management agreements and purchase and sale agreements.
- Maintain key client relationships to ensure performance expectations are met and position Remington as the top-of-mind choice for new management opportunities.
- Maintain and develop a strong network of industry contacts, including hotel owners, investors, developers, lenders, advisors, brokers, and brand relationships.
- Represent the company at key industry events, including ALIS, NYU, Lodging Conference, and others, as necessary.
Requirements:
- Bachelor's degree in Business or a related field preferred.
- Minimum 5 years experience working in business development and/or investment positions within the hospitality industry.
- Experience in hotel third-party management development, contracting and negotiation, capital markets, and/or underwriting hotel investment deals.
- Brings existing executive-level relationships with hotel owners, specifically REITs, private equity, family offices, and other institutional investment platforms is required.
- A revenue-generating track record in prospecting, lead generation, and experience establishing and managing prospect databases. This person will be thoroughly familiar with CRM and pipeline management in addition to strength in financial forecasting and planning.
- Superior client relationship management skills that result in long-term retention and expansion of business.
- Exceptional communication skills, capable of clearly conveying his/her vision throughout the organization, and an ability to inspire a cross-functional team of senior executives. Innate enthusiasm for team building, be recognized as collaboratively self-motivated with a meticulous and detail-oriented work style.
- Ability to travel frequently.