- Capital Markets
- Deal Structuring
- Feasibility Studies
- Project Finance
Director, Development, South East Asia (based in Singapore) (Integration)
Location: CHN-China-Hong Kong-Hong Kong Development
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 in the region focuses primarily on acquisition of hotel management contracts, and to a lesser extent on 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.
Specific Job Summary
Reporting to the Regional Vice President, Hotel Development, Asia Pacific (who is located in Asia), the Director will be responsible for the development of all Marriott hotel brands (including legacy Starwood brands) in South East Asia.
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.
Specific Expected Contributions
- 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 lead, negotiations of management agreements, franchise or other agreements with owner/owner's representatives. Ensure that agreement terms and conditions are acceptable to Marriott Operations team and Development department executives.
- Work with Marriott's Treasury and Project Finance Departments to maximize returns on Marriott International investment in hotel projects.
- 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.
- Supervise and mentor the Development Manager (also located in Sydney).
- Perform other duties as appropriate.
Candidate Profile (the education, experience, skills and attributes that are important for this position)
- Mature, professional demeanor, capable of expressing confident, independent judgment.
- Analytical thinker with strong interpersonal skills.
- Five to seven 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 effectively 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.
- University degree in Real Estate, Hotel Administration, Business Administration or other relevant professional qualifications