DESCRIPTION OF COMPANY
First Hospitality, based in Rosemont, Illinois, a Chicago suburb, is a hospitality company whose culture reflects innovation, engagement, and respect so that we can provide secure and challenging employment for our associates; a hospitality experience that consistently exceeds expectations; and an opportunity for our investors to attain superior returns. The company is a leading hotel management, acquisition, and development company with more than 30 years of award-winning experience. The First Hospitality portfolio currently features over 50 hotels, with over 40 properties in operations and the balance in development. First Hospitality has an interest in two-thirds of these properties, with the portfolio being distributed across 21 brands and several independent hotels. The company is targeting to double in portfolio size and expand out of its current midwestern base to a national footprint through continued acquisitions, development, and third-party management assignments.
The Vice President of Business Development's primary responsibility is to drive growth in third-party management business by leveraging industry relationships and identifying new management opportunities. Secondarily, the position will enhance First Hospitality’s relationship in the hotel development, ownership, and capital market communities. This position is based in Chicago and reports to the Senior Vice President of Investments.
- Primary focus is to generate third-party management agreements and develop a business pipeline of owner relations and new contract opportunities.
- Executes on a strategic business plan and tactics that align with First Hospitality’s overarching objectives and goals.
- Identifies, develops, and maintains strong business relationships with key hotel developers, owners, investors, lenders, brokers, capital partners, and brand partners.
- Evaluates investment opportunities necessary to secure hotel management agreements, including key money and silver equity placements.
- Coordinate with our internal development and operations teams to orchestrate all phases of the third-party management contract pursuit process, including proposals, presentations, market feasibility studies, pro forma projections, RFP responses, and negotiating hotel management agreements.
- Conducts ongoing and routine outreach to potential clients and represents First Hospitality at national industry events including ALIS, NYU, Lodging Conference, Hunter, and others when necessary
- A degree in real estate, finance, business, or hotel administration is required
- Minimum of 10 years’ experience in client relationship
- Previous hospitality business development and/or investment experience is a must
- Results-oriented and ability to juggle multiple projects simultaneously
- Ability to process new information quickly and respond to change
- Strong written, oral presentation, sales communication skills required
- Well-rounded understanding of independent and branded hotel operations
- Experience with MS Office, particularly Excel spreadsheets and PowerPoint presentations
- Close attention to detail and a focus on fact-based decision making
- Effective negotiator and clear communicator of ideas and solutions.
- Fosters a collaborative environment within our organization
- Travel is required based upon business demands
Depending on experience, the Vice President of Business Development role will be heavily incentivized with a bonus structure centered on the position’s success in driving new business and will include a base salary and standard corporate benefits.
First Hospitality seeks to attract and retain a high performing and diverse workforce in which associates’ differences are respected and valued to better meet the varying needs of the diverse customers we serve. We foster a diverse and inclusive work environment that promotes collaboration, flexibility, and fairness.
EQUAL OPPORTUNITY EMPLOYER
- Business Development
- Capital Markets
- Hospitality / Entertainment
7+ to 10 years
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