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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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