If you are an internal applicant, please log into Workday and apply for your application to be considered.Please Click Hereto apply internally.POSITION SUMMARYMontage International (MI) seeks to collaborate with our partners to select only extraordinary locations and then draw inspiration from them, thereby offering guests a collection of distinctive and profound experiences rooted in the richness of their settings. Our approach protects Montage and Pendry from dilution or oversaturation, benefitting owners and investors by staying true to the values, destinations, and experiences that define Montage and Pendry in ways that keep guests engaged and loyal. The Acquisitions & Development team facilitates the growth of the MI portfolio through sourcing potential opportunities, feasibility of new projects and locations, securing capital partnerships, management contract negotiation and owner relations throughout the development process.
The Manager, Acquisitions & Development supports the Acquisitions & Development team in the continued growth of the Montage and Pendry brands by analyzing potential acquisitions, conversions, and development opportunities both domestically and internationally. Responsibilities include market research and analysis, feasibility studies, financial underwriting, and presentation materials.
ESSENTIAL FUNCTIONSJob Functions:
- Assist in assessment and review of potential new projects including data rooms, market studies, site plans, etc.
- Underwrite acquisition, development, and management opportunities including detailed operating proformas and complex investment cash flows
- Organize and maintain MI's database of market data, consisting of internal market research, STR Reports, and feasibility studies
- Maintain database of MI Hotels' performance levels (revenues and expenses) to be utilized when evaluating the feasibility of hotel opportunities
- Conduct feasibility analysis and market research for new projects and locations including desktop research and data collection on market and comps and draw conclusions on the viability of potential projects under the Montage or Pendry brands
- Assist with the preparation of executive-level presentations to support the development process, including RFP responses and ad hoc presentations for potential developers and investors
- Update and maintain pro forma's post management agreement execution and through the transition process to operations and finance
- Develop and maintain relationships with peers in the hospitality industry
- Other projects and tasks to support the development process as needed
EDUCATION & EXPERIENCE - Bachelor's degree in hospitality, real estate, finance, business, or related discipline with a strong record of academic achievement or relevant work experience
- Minimum 2 years of experience in hotel or real estate financial modeling, feasibility, and market studies
- Experience and knowledge of hotel operating pro formas and basic real estate finance concepts such as NPV, IRR, DSCR, LTC, JV and Promote Structures
- Understanding of lodging industry metrics and ability to read and understand hotel financial statements
REQUIRED SKILLS/ABILITIES- Detailed knowledge of Microsoft Office applications, specifically highly skilled ability to model real estate investments in Excel with proficiency in Word and PowerPoint
- Consistent attention to detail, with an understanding of luxury hospitality operation
- Collaborative mindset that listens to others, effectively comprehends information, creates timely information flow throughout the organization while building strong relationships
- Strong quantitative, verbal and written skills with the ability to articulate a message rationally and concisely
- Strong organizational and time management skills, with the ability to be responsive and balance priorities, work activities and resources while managing multiple projects simultaneously
- Ability to work independently and as part of a team
- Strong interpersonal skills and the ability to represent MI both internally and externally
- Demonstrate the highest standards of ethical behavior and absolute discretion with sensitive information
- Ability to travel up to 25% depending on location and intensity of projects
PHYSICAL REQUIREMENTS Most work tasks are performed indoors or on site visits. Must be able to sit at a desk for up to 5 hours per day. Walking and standing are required the rest of the workday. This may include traveling to and from meetings. Length of time of these tasks may vary from day to day and task to task.
The pay scale is from $108,000.00 - $115,000.00. The pay scale is the base salary or hourly wage range, exclusive of incentive pay such as commissions, piece rates, gratuities, and the like, that Montage reasonably expects to pay for the position. Please let us know if you have any questions.
