Vice President of Business Development
Opportunity: Vice President of Business Development
HHM Hotels is consistently among the fastest growing and most stable management, investment, and development firms in our sector with a robust hotel portfolio spanning North America and strong relationships with sophisticated institutional partners.
We are seeking a Vice President of Business Development to spearhead our expansion through new management opportunities. This pivotal position will report directly to the Executive Vice President, Head of Development and will be a cornerstone of the larger development team.
The Vice President of Business Development will be instrumental in driving overall portfolio value representing HHM to both existing and prospective clients.
Your Growth Path
Senior Vice President - Executive Vice President
Your Focus
- Contact and develop relationships with key institutions looking to deploy long term capital into the sector, including REITs, institutional Private Equity firms, family offices, and international sovereign wealth funds.
- Source, negotiate and secure new long term third-party management opportunities that fit market or geographic strategy for HHM Hotels.
- Cultivate and maintain existing relationships with owners, lenders, brokers, consultants, and brands to expand a high quality pipeline.
- Evaluate properties based on potential financial return, quality of operations, location, and overall fit within HHM’s portfolio.
- Underwrite and analyze opportunities based on detailed review of current hotel operations, detailed financials, STR reports, segmentation, GSS, digital strategy, preventative and ROI-driven capital needs, and market dynamics.
- Negotiate management agreements with long term partners.
- Assist in sourcing and evaluating potential acquisition opportunities for clients.
- Develop relationships with new owners and manage and grow relationships with existing owners.
- Perform other duties as requested by management.
Your Background and Skills
- Bachelor’s degree in a related field required.
- Minimum of 10 years of hospitality business development or related experience.
- Thorough knowledge of the lodging industry and investment and operational proformas.
- Experience in other aspects of lodging, hospitality and real estate finance is highly desirable.
- Prior experience in hotel third-party management development, contracting and negotiation, capital markets, and/or underwriting hotel investment deals is a plus.
- Minimum of two years' experience at the Vice President level.
- Possess superior communication skills, oral and written. Self-motivated, well organized, and results driven professional. Ability to meet deadlines.
- Superior client relationship building and management skills that result in long term retention and expansion of business.
HHM Hotels Benefits and Perks
- Competitive wages for full time and part time opportunities
- Medical, Dental and Vision Health Insurance
- Paid Time Off
- 401k Company Match
- Free Basic Life Insurance
- Travel Discounts
- Commuter Transit and Commuter Parking Benefits
- Employee Assistance and Wellness Program
- Educational/Professional Development
- Referral Bonus Program
Work Environment and Context.
- At least 50% travel domestically.
- Location flexible, with strong preference for Philadelphia.
- High bonus potential geared toward achieving growth objectives.
What We Believe
People Are Our Capability – Hearts That Serve – Only Excellence – Stay Nimble - Own It
HHM Hotels
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.
