Director of Business Development & Acquisitions
Opportunity: Director of Business Development & Acquisitions
HHM Hotels is a leading hotel management and investment company with a portfolio of over 250 hotels and resorts spanning North America. The organization takes pride in operating over 50 independent luxury and lifestyle hotels as well as premium branded hotels in urban and resort markets.
An industry leader in hotel management and development for more than four decades, Urgo Hotels Canada is one of the longest-operating hotel companies in Canada. Based in Montreal, Urgo has extensive experience investing, developing and managing a wide range of hotels and resorts. The portfolio has grown to over 17 hotels and approximately 3,000 keys across Canada, ranging from premium-branded select-service hotels to full-service luxury and lifestyle hotels. in urban, urban infill, and resort locations.
The Director of Acquisitions & Development is responsible for sourcing, structuring, and closing hotel investment and management opportunities across Canada. The position will report to the EVP of Acquisitions and Development and be part of a team with seasoned industry veterans in investments and operations.
Potential Career Path
Vice President of Business Development
Essential Job Functions
- Sourcing, negotiating and securing new third-party management contracts for HHM Hotels across Canada.
- Cultivating and maintaining existing and new relationships with owners, lenders, brokers, consultants, and brands to expand contract pipeline.
- Leading the underwriting, due diligence, and execution of hotel acquisitions and development opportunities.
- Conducting detailed market and feasibility analyses for new markets and individual acquisition opportunities.
- Developing and maintaining financial models for existing and prospective investments.
- Working closely with other division leaders across Canada and U.S. (Operations, Sales/RM, Legal, Accounting) to transition new hotels and develop relationships with key institutional partners.
- Negotiating business term sheets and contracts for management and investment opportunities.
- Sourcing off-market investment opportunities.
- Coordinating real estate transaction structures, including multi-tiered promote structures, mezzanine financing, incentive management fees, and joint ventures.
- Compiling operating data and research on industry trends, and preparing presentations for monthly acquisitions meetings and quarterly presentations to the HHM Investment Committee and Board of Directors.
- Perform other duties as requested by management.
Position Requirements
- Bachelor’s degree required, preferably in Finance, Real Estate, Business or Hospitality; MBA is a plus, but not required
- Deep market knowledge and experience conducting and presenting feasibility studies
- Exceptionally strong Excel-based financial modeling skills as well as proficiency in MS Word and PowerPoint
- Strong analytical, problem solving, and decision making skills
- Demonstrated track record with external client relationships
- Excellent presentation as well as verbal and written communication skills
- A self-starting approach and long-term focus on developing a career in real estate investing within a fast growing and entrepreneurial company
Work Environment and Context.
- At least 40% travel across Canada.
- Preferably based in Toronto, Canada.
What We Believe
People Are Our Capability – Hearts That Serve – Only Excellence – Stay Nimble – Own It
HHM Hotels - Greater Toronto Region
An Industry Leader in Hospitality
HHM Hotels is the preferred operator to many sophisticated and institutional owners of hotel real estate, including public and private owners, across the United States and Canada. We are known for consistent outperformance in operating results, the stability of our managed portfolio and operating teams, and our unrelenting focus on people, processes, and technology. HHM Hotels is tireless in delivering results and working closely with our owners across a portfolio of 240 hotels and over $2BN in managed revenues in the United States and Canada.
MANAGEMENT
For the past 30 years, HHM Hotels has focused on building out specific and differentiated capabilities and technology to serve our owners and drive industry-leading results in the areas of revenue generation, cost management, service delivery, and associate development and retention. In particular, we have focused on developing proprietary data, processes, and business systems to drive advantage and maintain our unwavering focus on results across every aspect of our managed hotels.
INVESTMENT
HHM Hotels has a highly active and productive investment team that seeks to leverage our operating capabilities and market knowledge to source, underwrite, and introduce deals to our stable of industry-leading investment partners. We have helped put together dozens of related deals and focus carefully on potential operational efficiencies, brand or market repositioning opportunities, and other ways that we can find value through our extensive market knowledge, operating capabilities, and in-house legal, asset management, and risk management teams.
BRAND POSITIONING
Our experience with branded and independent hotels allows us to quickly determine the brand positioning within a local market to ensure the highest operational profitability. We understand the demands of hotel openings and rebranding because we’ve been on the ground to lead them, from Forbes Five-Star property openings and global product launches to corporate rebranding projects around the world.
