Job DescriptionRole PurposeExecute franchise sales and business development strategies for assigned territory to achieve sales and development quotas. Expand and maintain the distribution of assigned brand portfolio. Lead key stakeholders in the deal process to prospect, qualify, structure, negotiate and close franchise deals. Demonstrate behavioral proficiencies as defined in the Developers Competency and Skill Matrix to include Business Development Expertise, Organizing, Market Knowledge, Technical Skills and Managing Relationships.
Key Accountabilities- Effectively execute a regional development plan for assigned brands that promotes the maximization of each brand's distribution within the territory, drives earnings and fee income, and promotes the growth of shareholder value. Attain annual territory growth quotas as developed by management. Utilize proven strategies to aggressively improve results that fall below plan.
- Prospect, negotiate, and/or close specialized franchise sales deals in assigned geographical territories and target markets. Utilize knowledge of all major owners, developers and decision makers in assigned territory. Continuously research developments in related industries (e.g. office, retail, etc) to recognize emerging markets and opportunities.
- Provide leads for potential joint ventures and management contracts. Use a wide variety of resources to research territory and identify qualified prospects.
- Coordinate application/licensing process with Franchise Administration to ensure proper licensing agreements on franchised hotels. Monitor financial and administrative parameters surrounding franchise agreements as necessary.
- Within assigned territory, assist in developing short and long-term franchise acquisition and disposition strategies/identifying targets that are consistent with brand growth, profitability and strategic objectives. Prepare and maintain annual business plans that align with development activities and timetables.
- Call on investment groups, financial institutions, insurance companies, asset managers, individual investors, etc. to develop a network of contacts, build customer relationships that yield deal leads, and keep abreast of hotel development opportunities in the assigned marketplace.
- Participate in the evaluation of financial opportunities of prospective applicants to determine viability of prospect. Use the P&Ls of hotels in the market, average costs of development, etc. to determine the strength of the market to support deals. Research and utilize interest rates, financing options, operating costs, and other data required to pencil out and drive deals.
- Manage deals through closing to ensure coordination of all financial and legal documentation and the resolution of issues as they pertain to contractual agreements prior to hotel opening; and follow the completion and implementation of deal and hand-off to VP of Asset Management/Owner Relations and/or Operations as appropriate.
Key Skills & ExperiencesEducation -
Bachelor's or Master's Degree in Business, Real Estate, Finance, Hotel Management or a relevant field of work, or an equivalent combination of education and work-related experience.
Experience -
8-10 years progressive work related experience in franchise sales and/or development, with demonstrated proficiency in multiple disciplines/technologies/processes related to the position as well as 5-7 years managing significant complex projects, typically in hotel operations or a similar environment.
Technical Skills and Knowledge -
- Demonstrated project management experience in organizing, planning and executing large-scale financial and sales projects from conception through implementation.
- Demonstrated effective verbal and written communication skills for the purpose of providing information to clients, vendors, senior management and staff. Gets clients involved and engaged by asking questions, consistently relating to client's goals, and building the value of the opportunity.
- Demonstrated business/financial negotiation and influencing/consensus building skills
- Demonstrated ability to understand financial structures and deal valuation concepts
- Demonstrated knowledge and understanding of effective sales and marketing strategies such as client prospecting and cultivation, new product evaluation, brand positioning and strategic fit
- Demonstrated experience in franchise contract negotiation from prospecting investors to closing the deal.
- Demonstrated knowledge of the hotel operations market, competitive market trends and factors, and financial feasibility analysis.
