Vice President of Investments

The Vice President, Investments is responsible for supporting the Investments team on deal sourcing and screening, overseeing/providing direction to team in the creation of investment model, managing the execution of due diligence/closing process and supporting on dispositions.

The role is accountable for accuracy of investment model, supporting General Counsel on debt financing executions, and supporting in all aspects of process from pre-construction to certificate of occupancy.

As a leader within the department, develops talent, contributes towards the company achieving its established goals, and actively participates in the development and execution of planning, strategy, and research initiatives.

Responsibilities

– Executes the market due diligence program for potential acquisitions and new developments.

– Presents fully supported investment summary and underwriting for Investment Committee approval.

– Creates all inputs which drive the cash flow projection.

Particular areas of focus will be to establish comp set RevPAR growth CAGR, target RevPAR index, and cost structure to operate hotel including labor, benefits, cost of goods sold, other expenses, etc.

– Sources and screens new investment opportunities for marketed deals via brokerage community; for off-market deals via established and new industry contacts.

– Creates all inputs in the investment analysis and business plan.

Particular areas of focus will be to establish supporting of unlevered return hurdle and exit cap rate, financing assumptions, Development/Cap Ex budget estimate, analysis of IRR, NPV, ROI, and other relevant valuation/return metrics.

– Supports in drafting, negotiating, executing, and implementing the Purchase and Sale Agreement and all other leases, contracts, and binding legal documents.

– Manages the operations due diligence for target acquisitions.

– Communicates effectively (both written and oral) with operations, executives, lenders, investors, and partners (i.e.

brands) key underwriting assumptions and drivers for each deal.

– Maintains a level of knowledge of current portfolio operating performance and resourcefully incorporates it into the underwriting process to enhance accuracy.

– Coordinates ongoing research of the hotel industry to detect market trends and related information for analysis in defining investment strategies.

Draws conclusions and makes recommendations based upon analysis.

– Performs any other job related duties as assigned.

Qualifications

– Bachelor’s Degree required, ideally with a focus on hospitality real estate.

– At least 10 years’ experience in hospitality, real estate, investment or consulting in development, feasibility, or similar roles.

– Experience in the lodging industry will encompass one or more of the following: operations experience or operational understanding of full-service, resort, or select-service hotels; asset management/portfolio management; consulting and valuation; development or design and construction; experience within a brand or franchising company.

– Ability to effectively listen, communicate and perform diplomacy with internal and external staff in all situations.

– Ability to provide effective direction and mentoring to other team members.

– Excellent communication skills, both verbal and written, attention to detail, strong follow-through, analytical, solid deductive reasoning, decisiveness, financial literacy, initiative, bias for action, imagination, leadership, strategic thinking and a commercial mindset.

– Ability and knowledge of rigorous underwriting to produce a highly thoughtful, supportable, and detailed proforma for each target acquisition or new development.

– Knowledge of hotel operating metrics and performance capabilities.

– Knowledge of major markets and ability to study then diagnose current supply/demand situation in these markets.

– Knowledge of costs to develop and renovate hotels.

Ability to create dependable and accurate cost estimates.

– Ability to identify and create value-enhancement and cost-cutting opportunities.

– Proficient in managing the due diligence process, including but not limited to coordination of due diligence team and information.

– Must be adept at primary research: market interviews and gathering information from an established and growing network of industry experts.

– Strong base knowledge of industry contacts and network, especially amongst brokerage community.

Occasional travel is required throughout the US (10-25% of time).