Real Estate Investments & Asset Management Director

CHN Choice Hotels International Services
Rockville, MD
Apr 05, 2021
Apr 18, 2021
Full Time
In the hospitality industry, people matter.That's why here at Choice Hotels we're always looking for exceptional people - people who will challenge us, make our team stronger, smarter and complete. People who know how to roll up their sleeves and tackle the job at hand; who go the extra mile to get the job done - and done well.At Choice, we are looking for employees to connect the world through the power of hospitality - and we offer support, a strong culture, a collaborative workplace and the opportunity to thrive. Choice brings together people, brands, and technology to enable success.Who are we looking for? Maybe it's you.The role The Real Estate Investment & Asset Management (REIAM) group manages the deployment of Choice capital to expedite the growth of select Choice Hotels brands, with a primary focus on the domestic growth of the upscale Cambria Hotels brand. Choice has committed up to $1Bn toward real estate investments in Cambria hotels. These investments vary in form, but include wholly owned assets, joint venture equity, senior and mezzanine financing, and land acquisitions.The Director will have oversight over a portfolio of Cambria Hotels in various stages of the investment lifecycle (pre-development, development, and open) and from various positions in the capital stack (sole owner, general partner, limited partner, lender). Specifically, the Director will be responsible for financial and market analysis, due diligence, investment committee presentations, joint venture or loan agreement structuring, documentation and closing, development and design oversight, asset and partnership management, and dispositions.The Director will also participate in driving the company's investment strategy by take a lead role in managing the Cambria portfolio investment and target market models.The incumbent must have a proven ability to work in a highly collaborative manner with cross-functional teams and external partners, as well as demonstrated ability to communicate effectively and work efficiently with senior executives. Additionally, the Director must be committed to coaching and mentoring junior members of the REAIM team and fostering a learning environment.The Director will report to the Managing Director, Real Estate Investment & Asset Management and will have responsibility for directly or indirectly managing associates and/or analysts.What you will do Perform market and financial analyses for potential Choice investments in Cambria Hotels. Oversee and directly create cash flow valuation models from the position of both owner and/or lender. Effectively communicate recommendations based on analyses to key stakeholders. Negotiate term sheets, joint venture operating agreements, loan agreements, purchase and sale agreements, and development agreements. Manage partnership with both joint venture partners and borrowers. Lead development of Choice-managed Cambria hotels. Conduct site due diligence, oversee 3rd party development managers, and devise and execute strategies to recycle Choice's capital investment. Manage and optimize the performance of open hotels. Responsibilities include monitoring market dynamics, managing 3rd party hotel operators, determining strategies to maximize profitability, and completing periodic on-site reviews to review asset performance and capex needs. Oversee and own the Cambria portfolio-level investment model and make recommendations on Choice investment strategy Coach and train direct reports and junior team members. Skills you have..Bachelor's degree requiredMBA, Master's degree in real estate, or JD preferred.7+ years of progressive experience in real estate, preferably in the hotel sector, with a strong preference for prior development and investment management experience as well as a background in asset management, hotel feasibility, operations, and/or underwriting requiredExperience in real estate development management, transaction structuring and understanding of real estate risk management.Strong financial background and experience, including superior Excel modeling skills. Must be able to create financial models for complex individual asset transactions and for portfolio-level analyses.Self-starter with willingness and ability to excel in deadline-driven, high-volume environment. Must be capable of balancing collaboration, quick decision making, and timelines.Should have strong problem-solving, communication and interpersonal skills. Must have ability to succinctly and clearly explain complex information to senior leadership.Must be willing to travel up to 15% of the time, often with limited notice.Ability to model Choice's Cultural Values: Welcome and Respect Everyone, Be Bold, Be Quick, Listen, Be Curious and Show Integrity.

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