Director, Midscale Development

4 weeks ago

Bethesda MD, United States Women Leading Travel & Hospitality Full time

Reporting to the Regional Vice President, Midscale Hotel Development, for the region, the Director will be responsible for the development of Marriott Midscale brands in the assigned region (Eastern or Western) of the United States. The Director of Development identifies and pursues new business opportunities and coordinates a multidisciplinary team involved in the review, approval, and finalization of contracts for new hotels. Success in the position demands a driving focus on creation of shareholder value and earnings, as well as a passion to champion new business opportunities that build brand equity and help drive customer preference. ***This position can be located in any of the 25 states in the West territory or in any of the 26 states in the East territory depending on assignment***

SCOPE / BUSINESS CONTEXT / CANDIDATE PROFILE

Business Context: Expected Contributions – Essential Job Functions

The addition of new hotels is one of the principal drivers of Marriott’s earnings growth strategy and an important element in maintaining and advancing the quality and brand equity of Marriott’s Lodging System. The company’s unit growth strategy focuses primarily on acquisition of management contracts and licensing of our hotel brands to third party owner/operators under franchise agreements. The Director of Development performs a central, critical role in identifying, structuring deals, and successfully closing on opportunities for new hotels, and building win-win relationships with new and existing hotel owners and franchisees.

Key Accountabilities
• Identify, initiate, and analyze potential sites and hotel projects.
• Review and analyze potential hotel conversion, new build, or acquisition opportunities.
• Coordinate all aspects of the development process internal to Marriott International, including site inspections by brand, market management and technical services representatives, requesting feasibility studies and pro forma valuations, and presenting the opportunity for approval by the appropriate Marriott committees.
• Participate in, and occasionally lead, negotiations of management agreements, franchise or other agreements with owner/owner's representatives. Ensure that agreement terms and conditions are acceptable to Marriott operating and staff executives.
• Work with Marriott's Treasury and Project Finance Departments to maximize returns on Marriott International investment in hotel projects.
• Work collaboratively with teammates on the MSB Hotel Development Team, in the region.
• As needed, assist owners and developers to identify and tap sources of financing for hotel acquisition or construction, including Marriott sponsored financing programs.
• As required, attend public hearings and meetings with regulatory agency officials to secure site plan, engineering and other approvals necessary for the project's successful development.
• Share leads for other Marriott brand or product opportunities with appropriate personnel.
• Perform other duties as assigned.

Candidate Profile

Experience
• - Mature, professional demeanor, capable of expressing confident, independent judgment.
• - Analytical thinker with strong interpersonal skills.
• - Three to five years of real estate development, hotel industry or other relevant business experience.
• - Understanding of the local hotel and investment market. Familiarity with local capital markets is a plus.
• - Demonstrated ability to effective handle multiple projects on short timetables and manage staff resources efficiently.
• - Willingness to travel frequently to evaluate sites/hotels, meet with owner representatives, and evaluate market opportunities

Personal Competencies (Knowledge, Skills, Abilities and Other Attributes)
• Must have a broad business view; sharp business acumen.
• Must have excellent communication, coaching, mentoring, negotiation and mediation skills.
• Fosters relationships and a positive climate to build effective teams that are committed to organizational goals and initiatives; fosters teamwork and is a corporate-minded team player.
• Must be a self-starter who can work independently and be a strong team player that contributes to the effectiveness of the broader Development team.
• Translates business needs into what needs to get done; solves problems and monitors the progress; maintains high performance standards.
• Develops and maintains effective relationships with both internal and external stakeholders; influences with and without direct authority.
• Actively pursues learning and self-development to enhance personal, professional and business growth; shares learning.

Education or Certification
• Bachelor’s Degree or equivalent in Real Estate, Hotel Administration or Business; MBA or other advanced degree preferred.

 

California Applicants Only: The salary range for this position is $110,550.00 to $245,238.00 annually.

Colorado Applicants Only: The salary range for this position is $110,550.00 to $222,943.00 annually.

Hawaii Applicants Only:  The salary range for this position is $133,766.00 to $245,238.00 annually.

New York Applicants Only: The salary range for this position is $110,550.00 to $245,238.00 annually.

Washington Applicants Only : The salary range for this position is $110,550.00 to $245,238.00 annually. In addition to the annual salary, the position will be eligible to receive an annual bonus and restricted stock units/stock grants. Employees will accrue 0.04616 PTO balance for every hour worked and eligible to receive minimum of 7 holidays annually.

All locations offer coverage for medical, dental, vision, health care flexible spending account, dependent care flexible spending account, life insurance, disability insurance, accident insurance, adoption expense reimbursements, paid parental leave, educational assistance, 401(k) plan, stock purchase plan, discounts at Marriott properties, commuter benefits, employee assistance plan, and childcare discounts. Benefits are subject to terms and conditions, which may include rules regarding eligibility, enrollment, waiting period, contribution, benefit limits, election changes, benefit exclusions, and others.

Marriott HQ is committed to a hybrid work environment that enables associates to Be connected. Headquarters-based positions are considered hybrid, for candidates within a commuting distance to Bethesda, MD; candidates outside of commuting distance to Bethesda, MD will be considered for Remote positions.

The application deadline for this position is 28 days after the date of this posting, 1/11/2024.

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