Director of Residential & Mixed - Use Development

Job description

JOB SUMMARY

Reporting to the Vice President of Mixed-Use Development at Headquarters, with dotted-line accountability to the Regional Vice Presidents for the Caribbean and Latin America (CALA) region, the Director of Mixed-Use Development – CALA ("MXD-CALA") will be responsible for leading the feasibility analysis and development support for Marriott International’s residential development opportunities across CALA.

 

The MXD-CALA will proactively identify and pursue new mixed-use and stand-alone residential business opportunities throughout the region. The role involves close partnership with geo-specific developers for co-located projects, negotiation of the residential agreements with owners and developers (in appropriate local languages), and coordination with multidisciplinary internal teams to review, approve, and finalize project contracts.

 

The successful candidate will demonstrate a strong focus on driving shareholder value and earnings, coupled with the ability to cultivate strategic relationships and negotiate win-win outcomes with development partners. 

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 MXD-CALA 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 developers and licensees.

Key Accountabilities

·  Lead and select residential development projects in CALA, including sourcing, LOI/Term Sheet negotiation, committee approval, contract negotiation and execution.   
·  Support Residential and Hotel Geo Developers on CALA residential projects during the deal negotiations, committee approval and draft agreements phases of the development process. 
·  Participate in the review of draft License & Development Agreements; Residential 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. 
·  Coordinate and liaise with internal stakeholders, i.e. Hotel Developers, Brand, Global Design, Residential Operations, Feasibility and Compliance, and Legal to get their feedback and buy-in on residential projects in the pipeline.
·  Liaise and coordinate with Residential Sales & Marketing to ensure residential licensees are supported during the sales process after execution of agreements.
·  Support in initial pitch process for residential projects in CALA (standalone and co-located) including underwriting, document review, negotiation, approval, and finalization of mixed-use development projects.
·  Identify and target strategic owners, partners and developers in key markets in CALA to develop relationships for potential residential and mixed-use opportunities and projects.
·  Ownership of the underwriting process for residential projects in CALA 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 CALA residential database and liaising with 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.
·  Provide guidance on minimizing risk with a view to optimizing value to MI based on experience with other projects. 
·  Provide comments and feedback to Legal and Residential/Hotel Developers.   
·  Project management on select mixed-use development projects.
·  Supports Feasibility analysis and Development support across CALA & Leadership 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 and (ideally) residential or related development experience.
·  Understanding of the local hotel, residential and investment markets in CALA. 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, 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.
·  Must be fluent in English and Spanish.  Portuguese language is a plus.

 

Education or Certification

·  Bachelor’s Degree or equivalent in Real Estate, Hotel Administration or Business; MBA or other advanced degree preferred. 
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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 is the world’s largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. Be where you can do your best work,​ begin  your purpose,  belong  to an amazing global​ team, and  become  the best version of you.