Vice President, F&B Asset Management

AJ Capital Partners•Chicago, IL

1d•$170,000 - $220,000•Onsite

About The Position

Adventurous Journeys Capital Partners (“AJCP”) is seeking a Vice President, F&B Asset Management to lead food and beverage as a portfolio discipline across its hospitality assets, including operator relationships, opening and transition execution, reconcept oversight, and ongoing F&B performance management across Graduate Hotels, independent properties, and joint venture restaurants. The Vice President, F&B Asset Management will own food and beverage as a portfolio discipline across AJCP’s hospitality assets. You’ll lead opening and transition execution, reconcept design, and ongoing F&B performance management. You’ll work directly with third-party restaurant operators as a peer counterparty representing ownership interests. AJCP has seven distinct third-party restaurant operating groups, along with outlets run by the properties’ hotel management companies. Expect operator transitions, handoffs, and new relationships as the portfolio evolves. This is a strategic, principal-side role, close to the operators and the assets. You’ll be on-property during opening windows, transition periods, and post-opening refinement phases. As the portfolio evolves, this role will partner with senior AJCP leadership on F&B-related capital decisions, brand and concept strategy, and the integration of restaurant outlets within our lifestyle hospitality platform.

Requirements

12+ years of progressive experience in restaurant or F&B operations, with direct exposure to openings, transitions, and reconcepts.
Direct experience taking F&B restaurant operations from inception through implementation and post-opening refinement.
Thorough understanding of the profit model for restaurant operations and the ability to read, interpret, and challenge restaurant profit and loss statements.
Working knowledge of the operating KPIs that drive restaurant performance (cost of goods, labor, cover counts, average check, and other levers) and how to apply them to drive results.
Consistent track record of operating profitable restaurants over multiple cycles.
Demonstrated experience negotiating with or operating under management agreements, lease structures, or joint venture arrangements.
Track record of hands-on, on-property execution.
Willingness and ability to travel 50%+, including extended periods on-property during opening and transition windows.
Operator-side credibility: the standing and experience to engage restaurant operators as a peer counterparty representing ownership interests.
Strong communication, leadership, and interpersonal skills, with the ability to build relationships and drive results collaboratively with third-party operators while holding firm accountability for performance outcomes.
Bias toward on-property execution; comfortable spending meaningful time in restaurants and on properties during opening and transition windows.
Analytical mindset with a desire to use data to drive results.
Collaborative team player with a professional approach to working across functions and with external partners.
Entrepreneurial and resourceful; able to operate with ambiguity, build process where none exists, and move concepts from idea to execution.

Nice To Haves

Combined culinary and F&B operations background, with both kitchen and front-of-house operational depth.
Experience working on the ownership side of hospitality real estate, or with a multi-property hospitality operator at a corporate level.
Existing relationships within the restaurant operator community.
Experience with brand or concept development and partner selection.
Familiarity with hotel F&B economics and the integration of restaurant outlets within lifestyle hospitality assets.
Experience working with or under hotel management agreements, including coordinating F&B renovations, outlet closures, and reopenings alongside a hotel operating team.

Responsibilities

Serve as ownership’s primary point of contact with restaurant operators across the portfolio.
Engage hotel management companies as F&B counterparties where outlets are hotel-operated, covering performance oversight, reconcept participation, and interim operating support during transitions.
Participate in commercial negotiations on lease terms, management agreements, joint venture structures, and operator handoffs.
Build and maintain operator relationships beyond the current roster to support future portfolio activity.
Hold operators accountable for opening readiness, performance commitments, and contractual obligations.
Lead opening execution for new F&B concepts across the portfolio.
Manage operator transitions. Ensure operators meet critical deadlines. Provide insight on operational efficiencies throughout the transition.
Provide post-opening refinement and stabilization oversight.
Identify reconcept opportunities and develop investment cases for capital allocation.
Partner with hotel management companies on F&B renovation and reconcept execution where outlets operate under the hotel management agreement, including scope definition, construction phasing, interim operating plans, staffing ramp, and reopening readiness.
Review and challenge opening pro formas, reconcept budgets, and transition expense estimates.
Partner with Investments, Asset Management, and internal design and construction teams on F&B input into acquisitions, dispositions, and major capital projects.
Review F&B P&L performance across the portfolio; identify variance drivers and corrective actions.
Establish F&B benchmarking, KPIs, and reporting standards in coordination with Hospitality Finance.
Partner with operator leadership on performance improvement plans.
Develop and maintain AJCP’s F&B strategy framework across brands and concepts.
Represent F&B in portfolio-level discussions with the senior leadership team.
Participate in and influence F&B concept direction across the Marine & Lawn Hotel collection, including concept development, outlet positioning, and reconcept input, working alongside the brand’s senior leadership. This is consultative influence rather than day-to-day operational oversight.
Provide F&B input into underwriting and due diligence for prospective acquisitions.
Partner closely with operations-side Asset Management leadership and build bridges across departments (operations, finance, design, marketing, and external operators) to ensure F&B execution is integrated with whole-property objectives.