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Hospitality Vice President of Development

A fast-growing real estate and hospitality company is seeking a Hospitality Vice President of Development to lead the execution of ground-up and value-add projects, with a focus on hospitality and multifamily assets. This role combines strategic planning, project oversight, and team leadership, and plays a key role in driving innovation, community stewardship, and investor returns. Must have "ground-up" construction experience, hospitality/hotel experience and have the ability to move to Cleveland or travel regularly to the area. Relocation package available.

Key Responsibilities:

1. Strategic Planning & Execution:

• Leads the development and execution of the real estate development strategy, with a specialized focus on hospitality and multifamily assets, ensuring alignment with organizational goals and market opportunities.
• Identifies new hospitality and multifamily development opportunities, analyzing market trends, competitive dynamics, and consumer demands to inform long-term strategies.
• Works closely with executive leadership to align development goals with the broader company vision, with a strong emphasis on hospitality industry trends, technological innovation, and community stewardship.

2. Project Management:

• Oversee and manage multiple hospitality and multifamily real estate development projects from concept through to completion, ensuring timelines, budgets, and quality standards are met.
• Coordinate with internal and external stakeholders, including architects, contractors, hotel operators, and government agencies, to ensure project deliverables are met on schedule.
• Develop project scopes, budgets, and timelines and continuously monitor progress to ensure that projects remain within financial parameters.

3. Financial Management:

• Ensure the financial feasibility of hospitality and multifamily projects, including detailed financial modeling, budgeting, and pro forma analysis.
• Manage the financial performance of hospitality and multifamily projects and ensure profitability, identifying and mitigating any financial risks.
• Strive to deliver healthy cash return and diversification benefits to investors and their portfolios.

4. Team Leadership & Management:

• Lead, motivate, and mentor a high-performing development team, setting clear objectives and providing professional development opportunities.
• Fosters a collaborative and results-driven culture within the team, encouraging innovative problem-solving and a focus on excellence.
• Oversee and provide guidance to Project Managers and other team members on project-specific tasks and challenges.
• Cultivate a positive organizational culture where employees can learn, grow, and succeed in their careers.

5. Oversee Project PIP Manager:

• Supervise the Property Improvement Plan (PIP) Manager, ensuring alignment of the PIP with overall development goals and hospitality brand standards.
• Monitor the implementation of PIP strategies and ensure effective management of property improvements within project scope, budget, and timeline, adhering to hospitality-specific standards.

6. Compliance & Risk Management:

• Ensure that all hospitality and multifamily projects comply with relevant local, state, and federal regulations, including zoning, environmental, and building codes.
• Identify and manage risks associated with real estate development projects, including financial, operational, legal, and market risks specific to the hospitality industry.
• Develop risk management strategies and mitigation plans to safeguard the success and profitability of hospitality and multifamily projects.

7. Stakeholder Engagement:

• Build and maintain strong relationships with key stakeholders, including investors, government officials, operators, community leaders, and other relevant parties.
• Engage in effective public relations and communication strategies to support the development process and address any community or regulatory concerns related to hospitality projects.
• Represent the company in key meetings, presentations, and negotiations, ensuring alignment with organizational goals and maintaining a positive reputation in the hospitality sector.

8. Community Stewardship & Innovation:

• Ensure that each project aligns with the company's commitment to being a strong steward of the community where the assets are located, contributing positively to local economies and environments.
• Drive technological innovation in hospitality and multifamily assets to enhance the guest experience, improve operational efficiencies, and stay ahead of market trends.

Qualifications:

• 10+ years in real estate development, with strong experience in hospitality and multifamily
• Proven track record in managing full-cycle development projects
• Strong financial acumen and leadership capabilities

Company Perks & Benefits:

• Medical, dental and vision insurance
• Life and disability insurance
• 401k with company match
• Relocation assistance if needed
• PTO, sick time and paid holidays

Apply now for consideration or to learn more about the role!

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