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Senior Director- Residential and Mixed-Use Development
Marriott
Little Rock, AR (Onsite)
Full-Time
**Job Number** 23045334
**Job Category** Development & Feasibility
**Location** Marriott International HQ, 7750 Wisconsin Avenue, Bethesda, Maryland, United States
**Schedule** Full-Time
**Located Remotely?** Y
**Relocation?** N
**Position Type** Management
? **JOB SUMMARY**
Reporting to the Vice President, Mixed-Use Development, The Senior Director will be responsible for feasibility and development support of MI residential development opportunities in US & Canada and all Caribbean and Latin America (CALA). The position will also lead select residential development projects. The Senior Director identifies and pursues new business opportunities and coordinates a multidisciplinary team involved in the review, approval, and finalization of contracts for new projects. 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.
SCOPE / BUSINESS CONTEXT / CANDIDATE PROFILE
**Business Context: Expected Contributions - Essential Job Functions**
The addition of new units 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 Senior Director performs a central, critical role in identifying, structuring deals, and successfully closing on opportunities for new units, and building win-win relationships with new and existing hotel owners and franchisees.
**Key Accountabilities**
+ Support US & Canada and CALA developers in initial pitch process, underwriting, document review, negotiation, approval, and finalization of stand-alone residential, branded rental, and mixed-use development projects.
+ Ownership of the underwriting process for proposed residential projects, residential projects in development, including review of third-party market studies, conducting market research, prepare price and pace analysis to determine value as part of the HDC approval process.
+ Responsible for global residential database and liaising with global Residential and Hotel developers to track the status, key project information and timelines.
+ Lead and/or oversee annual research/market studies including brand price/pace premium analysis, comparable brand positioning analysis, and global pipeline analysis. Assess and make recommendations related to the overall strategic positioning of the various MI residential brands in the marketplace.
+ Support Residential and Hotel Developers on all US & Canada and CALA residential projects during the deal negotiations, committee approval and draft agreements phases of the development process. Coordinating and liaising with internal stakeholders, ie Brand, Global Design, Residential Operations and Compliance, and Legal to get their feedback and buy-in on residential projects in the pipeline.
+ Lead select residential development projects including LOI negotiation, HDC approval, contract negotiation and execution.
+ Facilitate and participate in the review of draft agreements including letters of intent / memorandums of understanding for global residential projects to ensure consistency among key terms and clauses.
+ Provide guidance on minimizing risk based on experience with other projects and LOIs and MOUs.
+ Participate in the review of draft License & Development Agreements; COA/HOA Association Management Agreements; Shared Services Agreements, and Rental Agreements for all brands and all residential projects worldwide to make certain key terms and clauses are included and properly represented.
+ Provide comments and feedback to Legal and Residential/Hotel Developers.
+ Project management on select mixed-use development projects.
+ Perform other duties as assigned.
**Candidate Profile**
Experience
+ Mature, professional demeanor, capable of expressing confident, independent judgment.
+ Analytical thinker with strong interpersonal skills.
+ Five to eight years of feasibility, legal and/or financial analyses experience related to hotel/residential development or related experience. Direct hotel and/or residential development experience is a plus.
+ Understanding of the local hotel, residential 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/residences, 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.
+ Spanish and any other language skills is a plus.
**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 $123,975.00 to $275,021.00 annually.
**Colorado Applicants Only:** The salary range for this position is $123,975.00 to $250,016.00 annually.
**New York City & Westchester County, NY Applicants Only:** The salary range for this position is $150,011.00 to $275,021.00 annually.
**Washington Applicants Only:** The salary range for this position is $123,975.00 to $275,021.00 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 0.4616 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 International is an equal opportunity employer. We believe in hiring a diverse workforce and sustaining an inclusive, people-first culture. We are committed to non-discrimination on any protected basis, such as disability and veteran status, or any other basis covered under applicable law. Marriott International considers for employment qualified applicants with criminal histories consistent with applicable federal, state and local law._
Marriott International is the world's largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. We believe a great career is a journey of discovery and exploration. So, we ask, where will your journey take you?
**Job Category** Development & Feasibility
**Location** Marriott International HQ, 7750 Wisconsin Avenue, Bethesda, Maryland, United States
**Schedule** Full-Time
**Located Remotely?** Y
**Relocation?** N
**Position Type** Management
? **JOB SUMMARY**
Reporting to the Vice President, Mixed-Use Development, The Senior Director will be responsible for feasibility and development support of MI residential development opportunities in US & Canada and all Caribbean and Latin America (CALA). The position will also lead select residential development projects. The Senior Director identifies and pursues new business opportunities and coordinates a multidisciplinary team involved in the review, approval, and finalization of contracts for new projects. 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.
SCOPE / BUSINESS CONTEXT / CANDIDATE PROFILE
**Business Context: Expected Contributions - Essential Job Functions**
The addition of new units 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 Senior Director performs a central, critical role in identifying, structuring deals, and successfully closing on opportunities for new units, and building win-win relationships with new and existing hotel owners and franchisees.
**Key Accountabilities**
+ Support US & Canada and CALA developers in initial pitch process, underwriting, document review, negotiation, approval, and finalization of stand-alone residential, branded rental, and mixed-use development projects.
+ Ownership of the underwriting process for proposed residential projects, residential projects in development, including review of third-party market studies, conducting market research, prepare price and pace analysis to determine value as part of the HDC approval process.
+ Responsible for global residential database and liaising with global Residential and Hotel developers to track the status, key project information and timelines.
+ Lead and/or oversee annual research/market studies including brand price/pace premium analysis, comparable brand positioning analysis, and global pipeline analysis. Assess and make recommendations related to the overall strategic positioning of the various MI residential brands in the marketplace.
+ Support Residential and Hotel Developers on all US & Canada and CALA residential projects during the deal negotiations, committee approval and draft agreements phases of the development process. Coordinating and liaising with internal stakeholders, ie Brand, Global Design, Residential Operations and Compliance, and Legal to get their feedback and buy-in on residential projects in the pipeline.
+ Lead select residential development projects including LOI negotiation, HDC approval, contract negotiation and execution.
+ Facilitate and participate in the review of draft agreements including letters of intent / memorandums of understanding for global residential projects to ensure consistency among key terms and clauses.
+ Provide guidance on minimizing risk based on experience with other projects and LOIs and MOUs.
+ Participate in the review of draft License & Development Agreements; COA/HOA Association Management Agreements; Shared Services Agreements, and Rental Agreements for all brands and all residential projects worldwide to make certain key terms and clauses are included and properly represented.
+ Provide comments and feedback to Legal and Residential/Hotel Developers.
+ Project management on select mixed-use development projects.
+ Perform other duties as assigned.
**Candidate Profile**
Experience
+ Mature, professional demeanor, capable of expressing confident, independent judgment.
+ Analytical thinker with strong interpersonal skills.
+ Five to eight years of feasibility, legal and/or financial analyses experience related to hotel/residential development or related experience. Direct hotel and/or residential development experience is a plus.
+ Understanding of the local hotel, residential 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/residences, 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.
+ Spanish and any other language skills is a plus.
**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 $123,975.00 to $275,021.00 annually.
**Colorado Applicants Only:** The salary range for this position is $123,975.00 to $250,016.00 annually.
**New York City & Westchester County, NY Applicants Only:** The salary range for this position is $150,011.00 to $275,021.00 annually.
**Washington Applicants Only:** The salary range for this position is $123,975.00 to $275,021.00 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 0.4616 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 International is an equal opportunity employer. We believe in hiring a diverse workforce and sustaining an inclusive, people-first culture. We are committed to non-discrimination on any protected basis, such as disability and veteran status, or any other basis covered under applicable law. Marriott International considers for employment qualified applicants with criminal histories consistent with applicable federal, state and local law._
Marriott International is the world's largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. We believe a great career is a journey of discovery and exploration. So, we ask, where will your journey take you?
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