Vice President, Business Development- New York
About The Position
The Vice President of Business Development is the senior executive responsible for establishing and executing M&R Hotel Management’s growth strategy across third-party hotel management, acquisitions, development opportunities, and strategic partnerships. As a member of the executive leadership team, the VP leads opportunity origination, underwriting, negotiations, and cross-functional deal execution, and serves as a primary external representative to owners, investors, franchisors, lenders, and industry stakeholders. The anticipated salary range is $130,000–$160,000 annually, with eligibility for an uncapped annual incentive bonus aligned with established performance targets. Compensation decisions consider factors including work location, professional background, experience, and performance. The role involves office, hotel, and field environments, extensive computer and virtual meeting platform use, and travel up to 50%. Availability outside standard hours may be needed to support transactions, deadlines, and owner communications. M&R Hotel Management is committed to equal employment opportunity and reasonable accommodation for qualified individuals.
Requirements
- Bachelor’s degree in Hospitality Management, Finance, Real Estate, Business Administration, or a related field.
- At least 10 years of progressively responsible experience in hotel business development, acquisitions, development, investment, or management-company growth.
- At least 5 years in a senior leadership role responsible for originating opportunities, directing transactions, and leading teams.
- Proven track record closing hotel management agreements, acquisitions, developments, or comparable hospitality transactions.
- Advanced ability to build, review, and challenge hotel operating models, acquisition models, cash flows, and sensitivity analyses.
- Expert command of hotel KPIs, including occupancy, ADR, RevPAR, GOP, NOI, flow-through, management fees, and owner returns.
- Advanced proficiency in Microsoft Excel, PowerPoint, Word, and CRM/business development platforms.
- Exceptional written communication skills, including investment memoranda, executive summaries, proposals, and board-level presentations.
- Executive presence, sound commercial judgment, and ability to influence senior stakeholders with credibility and integrity.
- Strategic thinking, disciplined execution, strong follow-through, and hands-on engagement in complex work.
- High ethical standards, accountability, and ability to recognize and escalate material concerns appropriately.
- Ability to perform the essential functions of the position, with or without reasonable accommodation.
Nice To Haves
- MBA or graduate degree.
- Hotel data tools experience.
Responsibilities
- Own the enterprise business development strategy, annual growth plan, priority markets, target ownership groups, and pipeline objectives.
- Evaluate transaction activity, development pipelines, debt and equity conditions, brand trends, and competitor activity.
- Originate hotel management, acquisition, development, and conversion opportunities through direct outreach and industry networks.
- Represent M&R at industry conferences, owner meetings, brand events, and lender forums.
- Direct preparation and review of hotel operating projections, market analyses, management fee models, and investment return analyses.
- Establish underwriting standards, approval thresholds, and documentation protocols for business development analyses and proposals.
- Challenge underwriting assumptions and evaluate third-party feasibility and appraisal reports.
- Present go/no-go recommendations to the CEO and executive team, including risks, returns, and sensitivities.
- Lead commercial workstreams for management agreements, franchise agreements, PSAs, JV agreements, LOIs, and related documents.
- Negotiate approved business terms with owners, investors, franchisors, brokers, and legal counsel.
- Direct financial, operational, brand, legal, environmental, property-condition, and licensing due diligence.
- Ensure commitments are not represented as final and agreements are not executed without proper internal authorization.
- Develop and maintain senior-level relationships with hotel owners, investors, family offices, institutional investors, and lenders.
- Lead owner presentations, management interviews, RFP responses, and investment committee meetings.
- Maintain franchisor relationships and manage brand approvals, comfort letters, and change-of-ownership processes.
- Maintain an accurate pipeline for CEO reporting, including stage, probability, anticipated fees, risks, and required decisions.
- Develop and administer the business development operating budget and evaluate pipeline conversion, acquisition cost, and fee contribution.
- Select, develop, coach, and evaluate business development team members; establish accountability and cross-functional coordination standards.
- Lead operational handoffs from executed agreement through onboarding in partnership with Operations.
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What This Job Offers
Job Type
Full-time
Career Level
Executive
