The Development Associate will report to the Chief Executive Officer and will support Managing Directors of Development, the head of Acquisitions/Investments, and the Senior Advisor for the Timbers Resorts team.
Essential Duties and Responsibilities
- Assist in identifying and assessing strategic development sites through market research, demographic studies, and competitive analysis.
- Participate in multifunctional teams to analyze existing market conditions, product mix, property amenities and features, sales pricing, and operational expenses at target properties.
- Develop a matrix of key competitors including property locations, specific amenities, and pricing in strategic markets.
- Participate in the preparation of pre-development budgets and schedules for proposed projects from the initial acquisition phases through the commencement of operations.
- Participate in the entitlement process for future development sites.
- Research all relevant financial assumptions for underwriting.
- Assist with the creation of detailed financial models (for hotel and real estate sales) and performing due diligence efforts.
- Assist the overall Timbers team in preparing and presenting investment packages.
Knowledge, Skills, Abilities and Other Qualities
- Must be a self-starter, highly motivated and goal-oriented individual
- Excellent interpersonal, written, and verbal communication skills
- Must be able to work in a team environment
- Strong analytical and problem-solving skills
- Perform complex financial analyses, including cash flow projections with complex financing structures, valuation models, and sensitivity analyses.
- Advanced understanding of the entitlement process required for raw land in resort locations.
- Create sophisticated Excel-based analytical tools including macro-enabled financial models.
- Effective organizational, prioritization and time management skills
- Flexible and able to handle multiple projects and tasks simultaneously
- Accurate, detail oriented, dependable and punctual
- Willingness and patience to iteratively improve/refine work product
- Advanced MS Office Suite skills
- Ability and willingness to travel to various locations (including international)
Education and Experience
- Bachelor’s degree in Business Administration, Finance, or Real Estate required
- Graduate degree in Business Administration, Finance, or Real Estate preferred
- 5+ years’ relevant resorts development and hotel development work experience