Associate of Acquisitions and Business Development

Hersha Hospitality Management LP•Philadelphia, PA

1d•Onsite

About The Position

Our Philadelphia corporate office is seeking an Acquisitions and Business Development Associate to join our private equity investment platform. You will work alongside veterans with over 30 years of experience in hotel investment. This role focuses on underwriting domestic hotel acquisitions and conducting detailed feasibility analyses for prospective markets. You will manage complex transaction structures including mezzanine financing and joint ventures.

Requirements

Bachelor’s degree required, preferably in Finance, Real Estate, Business or Hospitality
Minimum two years of experience in real estate or hotel acquisitions and development
Investment Banking or Private Equity experience preferred
Deep market knowledge and experience conducting and presenting feasibility studies
Experience negotiating real estate transactions, including operating terms, capital structures, promoted interests, and joint venture documents
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

Nice To Haves

MBA is a plus, but not required

Responsibilities

Leading the underwriting, due diligence, and execution of hotel acquisitions and development opportunities and presenting findings to Vice President of Acquisitions & Development.
Conducting detailed market and feasibility analyses for new markets, portfolios, and individual acquisition opportunities.
Developing and maintaining financial models for existing and prospective investments.
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.
Working closely with other division leaders (Operations, Legal, Accounting) to transition new hotels and develop relationships with key institutional partners.
Perform other duties as requested by management.