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Director of Acquisitions and Development

Philadelphia, Pennsylvania Jobs

19173 Jobs

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5/15/2022

Overview

Opportunity: Director of Acquisitions & Development

Hersha Hospitality Management (HHM) is an industry-leading hotel investment, management and development firm that provides turn-key management solutions to over 180 hotels across the United States, which includes world class brands in the select service and full service markets as well as a collection of independent and boutique hotels.

The Director of Acquisitions & Development is responsible for sourcing, structuring, and acquiring hotel real estate across North America. The position will report to the CFO and Head of Investments and be part of a team with seasoned industry veterans whom have acquired and operated hotels for 30+ years, including over $1BN in the last 12 months.

Potential Career Path

Vice President of Acquisitions & Development - Senior Vice President of Acquisitions & Development

Essential Job Functions

  • Leading the underwriting, due diligence, and execution of hotel acquisitions and development opportunities.
  • Conducting detailed market and feasibility analyses for new markets, portfolios, and individual acquisition opportunities.
  • Developing and maintaining financial models for existing and prospective investments.
  • Negotiating business term sheets and contracts for management and investment opportunities
  • Sourcing off-market investment opportunities.
  • Coordinating real estate transaction structures, including multi-tiered promote structures, mezzanine financing, incentive management fees, and joint ventures.
  • Compiling operating data and research on industry trends, and preparing presentations for monthly acquisitions meetings and quarterly presentations to the HHM Investment Committee and Board of Directors.
  • Working closely with other division leaders (Operations, Legal, Accounting) to transition new hotels and develop relationships with key institutional partners.
  • Follow sustainability guidelines and practices related to HHMs EarthView program.
  • Perform other duties as requested by management.

Position Requirements

  • Bachelors degree required, preferably in Finance, Real Estate, Business or Hospitality; MBA is a plus, but not required
  • Minimum 5 years of experience in real estate or hotel acquisitions and development; Investment Banking or Private Equity experience preferred
  • Deep market knowledge and experience conducting and presenting feasibility studies
  • Experience negotiating real estate transactions, including operating terms, capital structures, promoted interests, and joint venture documents
  • Exceptionally strong Excel-based financial modeling skills as well as proficiency in MS Word and PowerPoint
  • Strong analytical, problem solving, and decision making skills
  • Demonstrated track record with external client relationships
  • Excellent presentation as well as verbal and written communication skills
  • A self-starting approach and long term focus on developing a career in real estate investing within a fast growing and entrepreneurial company

Work Environment and Context

  • Required to sit for extended periods, lift up to 10 pounds, bend, reach, use hands and fingers to operate keyboard
  • Extended work hours may be required as needed and determined by deal flow
  • Occasional travel to managed properties and potential investment properties

HHM Benefits and Perks

  • Medical, Dental and Vision Health Insurance
  • Paid Time Off
  • 401k Company Match
  • Free Basic Life Insurance
  • Travel Discounts
  • Commuter Transit and Commuter Parking Benefits
  • Performance-based Bonuses and Incentives
  • Employee Assistance and Wellness Program
  • Educational/Professional Development

What We Believe

People Are Our Capability - Hearts That Serve - Only Excellence - Stay Nimble - Own It

About Us

HHM is proud to be an equal opportunity employer. We do not discriminate on the basis of race, color, gender, gender identity, sexual orientation, marital status, pregnancy, national origin, ancestry, age, religion, disability, veteran status, genetic information, citizenship status or any other group protected by law.

Job ID: 4455998852533479277

Agency

Agency

Director of Acquisitions and Development

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This job is located in

Philadelphia, Pennsylvania, 19173