Job details

Director, Real Estate Investments (Hybrid)

Who are we looking for?

Choice Hotels, one of the world’s largest lodging franchisors, has an exciting new opportunity as our Director, Real Estate Investments. The Real Estate Investment 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 and the midscale extended-stay Everhome Suites brand. Choice has committed up to $1Bn toward real estate investments in Cambria and Everhome hotels. These investments vary in form, but include wholly owned assets, joint venture equity, senior and mezzanine financing, and land acquisitions. As a key member of our Real Estate Investment group, you will assist with the management of a portfolio of Cambria and Everhome hotels in various stages of the investment lifecycle (pre-development, development) and from various positions in the capital stack (sole owner, general partner, limited partner, lender).

Your Responsibilities

Lead the ground-up development of a portfolio of 5-7 Cambria and Everhome hotels. Responsible for site sourcing, physical due diligence, investment committee presentations, design/entitlement and development management. Oversee external parties, including third party development managers.
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.
Oversee and perform market and financial analyses to determine the viability of potential Choice real estate investments. Effectively communicate recommendations and risks to senior leadership.
Implement processes and procedures to improve the team’s efficiency and accuracy.
Identify and cultivate strategic relationships with key partners including lenders, equity partners, third-party development managers, general contractors, architects, and design firms.
Utilize investment and development expertise to support corporate efforts, such as supporting efforts to improve the franchisee opening process and launch new brand prototype designs.
Coach and mentor direct reports and junior team members. Help foster a culture that values learning, accountability, curiosity, and celebrating success.

Your Experience, Skills & Competencies

Bachelor's degree in related field – business, finance, real estate – preferred, or equivalent experience
At least 10+ years of progressive experience in real estate, preferably in the hotel sector, with a strong preference for prior development and investment management experience
Experience in real estate development management, transaction structuring and understanding of real estate risk management.
Experience overseeing development projects with a total cost of at least $20MM
Strong financial background and experience, including superior Excel modeling skills
Self-starter with willingness and ability to excel in deadline-driven, very 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 the ability to explain complex information succinctly and clearly to senior leadership. Must also be comfortable having difficult negotiation discussions with internal and external counterparties
Must be willing to travel up to 15% of the time, occasionally with limited notice

Your Team

This is a leadership role that will report to the Vice President, Real Estate Investment & Development. You will have responsibility for directly and indirectly managing a team of associates and analysts.

Your Work Location

As our Director, Real Estate Investment, you will be based in our beautiful, state-of-the-art worldwide corporate headquarters in Rockville, MD. Less than 15 miles from Washington, DC, we’re located directly across from the Rockville Metro station, with service on the Red Line and the MARC Brunswick line, easy access to I-270, and plenty of free parking provided by Choice Hotels.

Right now, our associates in Rockville, MD are working in a hybrid environment. This position has an expectation of 4 days in-office per week, with the remaining day working remote. We encourage ongoing communication with your leadership to establish expectations about your unique needs.

About Choice

Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With nearly 7,500 hotels, representing nearly 630,000 rooms, in 46 countries and territories as of September 30, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay, and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit

www.choicehotels.com

At our worldwide corporate headquarters in Rockville, Maryland and St. Louis Park, Minnesota as well as our technology center in Scottsdale, Arizona, and through our associates around the globe, we keep Choice hotels thriving by serving as a champion for our franchisees and providing cutting-edge technology.

Ability to model Choice’s Cultural Values: Welcome and Respect Everyone, Be Bold, Be Quick, Listen, Be Curious and Show Integrity.

By Choice Hotels

We bring together the people, brands and technology that enable the success of others - welcoming every guest, every partner, everywhere their journey takes them.

FUNDING

INDUSTRY

TEAM SIZE

LOCATION

Hybrid, based in Rockville, MD

DATE POSTED

June 23, 2023