Vice President of Business Development

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Job description

Job Summary

The Vice President, Business Development, will report to the Chief Investment Officer and be responsible for driving Remington's growth in the third-party management business by leveraging industry relationships and identifying new management opportunities. The Vice President, Business Development will be a vital member of Remington's Business Development Team and will represent Remington's third-party business to the industry. This person will drive Remington to become one of the top third-party management companies in the industry. Specific to this role, the Vice President, Business Development:

• Source, negotiate, and execute long-term, hotel management agreements by developing key business relationships with hotel developers, owners, investors, lenders, and capital partners.


• Partner with the Chief Investment Officer, senior executives, and stakeholders to ensure that departmental strategies safeguard against conflict of interests and guarantee a unified front in Remington's business direction.


• Evaluate investment opportunities necessary to secure hotel management agreements, including key money and sliver equity placements.


• Lead all phases of the business development process, including souring opportunities, conducting site inspections, leading presentations, working with the Analytics team in reviewing market feasibility studies and producing pro formas and investment analyses, coordinating RFP responses, and negotiating hotel management agreements and purchase and sale agreements.


• Maintain key client relationships to ensure performance expectations are met and position Remington as the top-of-mind choice for new management opportunities.


• Maintain and develop a strong network of industry contacts, including hotel owners, investors, developers, lenders, advisors, brokers, and brand relationships.


• Represent the company at key industry events, including ALIS, NYU, Lodging Conference, and others, as necessary.

Property Description

Remington is a dynamic, growing, independent hotel management company with over 40 years of experience in the hospitality business. Providing top quality service in the areas of property management and condominium hotel management, Remington's track record of success demonstrates a unique understanding of the hotel business in all phases of the economic cycle. Our culture across these disciplines is centered on achieving results. At Remington, we believe that our people are the ultimate source of our competitive advantage.

Requirements

The successful candidate should have obvious business development skills, exceptional personal presence, refined financial acumen, and deep relationships across institutional investor and family office communities. This person can combine strategic thinking and sharp execution skills with relentless energy to exceed financial targets and company objectives. Personally, this person should be recognized as a collaborative strategic thinker and a charismatic leader capable of bringing humor, energy, humility, and innovation to a uniquely positioned hospitality service company. Specific to this role, the successful candidate will have:

• Existing executive level relationships within hotel owner, REIT, private equity, family office, and other institutional investment communities is required.


• At least 5 years' experience working in business development and/or investment positions within the hospitality industry.


• Prior experience in hotel third-party management development, contracting and negotiation, capital markets, and/or underwriting hotel investment deals.


• A revenue generating track record in prospecting, lead generation, and experience establishing and managing prospect databases. This person will be thoroughly familiar with CRM and pipeline management in addition to strength in financial forecasting and planning.


• Superior client relationship management skills that result in long term retention and expansion of business.


• Exceptional communication skills, capable of clearly conveying his/her vision throughout the organization, and an ability to inspire a cross-functional team of senior executives. Innate enthusiasm for team building, be recognized as collaboratively self-motivated with a meticulous and detail-oriented work style.


• An undergraduate degree, MBA preferred.