• Job Description

  Req#: 24070881
  Description of Company

  Marriott is a leading global lodging company with over 8,700 properties spanning 31 brands in over 130 countries and territories. Founded by J. Willard and Alice Marriott and guided by Marriott family leadership for over 90 years, the company is headquartered in Bethesda, Maryland, USA.

  Further to the acquisition in 2016 of Starwood Hotels & Resorts Worldwide, Inc., the company has become the world’s largest hotel company. Marriott now offers the most comprehensive portfolio of brands including leading lifestyle brands, a significant global footprint and leadership in the luxury and select-service tiers as well as the convention and resort segment.

  For more information on Marriott please visit their webpage www.marriott.com.

  Description of Position

  The Senior Director of Development Greece, Cyprus & Israel will be responsible for the development of all Marriott brands in the region.

  The Senior Director of Development identifies and pursues new business opportunities and coordinates a multi-disciplinary team involved in the review, approval and finalization of contracts for new hotels.

  The majority of the projects worked on in the region are likely to be under franchise contracts (probably in the region of 80%) with the remainder under management contracts. Currently, Marriott has over 45 hotels in Greece, 2 hotels in Cyprus and 5 hotels in Israel. In the pipeline, there are 9 hotels in Greece, 2 hotels in Cyprus and 3 hotels in Israel. The goal is to add at least a further 30 hotels in both primary and secondary cities across the region over the mid-term. These will be mostly single asset transactions with private owners and institutional investors. Marriott is interested in ground-up developments, conversions and adaptive reuse projects.

  Success in the position demands a driving focus on creation of shareholder value through the pursuit of new projects, a proactive disposition, a willingness to champion new business opportunities, an enthusiasm for working in a small, focused team and a passion for the work. Strong management skills and a collaborative approach to doing business are also critical.

  The addition of new hotels is one of the principal drivers of Marriott’s earnings growth and an important element in progressing the product quality, operating excellence, distribution power and brand equity of Marriott’s lodging system. The company’s unit growth strategy focuses primarily on management contracts and licensing of hotel brands to third party owner-operators under franchise agreements. The Senior Director of Development performs a central, critical role in identifying, generating and structuring deals for Marriott’s brands and successfully closing on opportunities for new hotels, and building win-win relationships with new and existing hotel owners and franchisees.

  The role will include: sourcing and screening potential projects; conducting the analysis of projects’ potential; coordinating and managing internal and external resources; structuring business deals; negotiating deal terms with owners leading to the signing of the Heads of Terms and negotiating management and franchise contracts (together with Marriott’s legal representatives). Establishing and maintaining good relationships with potential owners, partners, lenders, advisors and investors will also be essential.

  Specific responsibilities will include:

  General and Strategic

  • Together with the other members of Marriott’s development team responsible for the region, active participation in implementing the strategic business plan to grow the company’s presence in the region;
  • Identification and evaluation of business growth opportunities for franchise and management contracts;
  • Compilation and update of a list of target markets for Marriott development in the region and determination of an achievable pace of development;
  • Attendance at relevant hospitality events and establishment/maintenance of a high profile within the industry in the region;
  • Monitoring of relevant industry trends and their potential impact.

  Development Procedures

  • Establish and maintain a strong network of contacts in the local hotel and real estate development/investment sector to feed potential projects to Marriott;
  • Identify, initiate, and assess potential owners, investors, developers and branding opportunities;
  • Review and analyze potential hotel conversions, adaptive reuse projects and new build opportunities, for integration into any of Marriott’s brands;
  • Develop and maintain the appropriate business relationship with potential owners, capital providers and partners, in order to build loyalty and preference for the company and brands;
  • Coordinate all aspects of the development process internal to Marriott, including presentations, site inspections, market feasibility studies and financial projections, valuations, legal contract negotiations and presenting the opportunity for approval by the appropriate Marriott committees;
  • Together with Marriott’s legal team, lead negotiations of management agreements and franchise or other agreements with owner/owner's representatives. Ensure that agreement terms and conditions are acceptable to Marriott’s senior management;
  • Work with Marriott's treasury and project finance departments to maximize returns on Marriott investment in hotel projects, where applicable;
  • As needed, assist owners and developers identify and tap sources of financing for hotel acquisition or construction;
  • Share leads for other Marriott brand or product opportunities with appropriate personnel;
  • Performs other duties as appropriate related to enhancing Marriott’s growth in Europe;
  • Design and produce a regularly distributed internal development status report for the region.

  Reporting Relationship

  The position reports to Gianleo Bosticco who is based in Milan and who is Marriott’s Vice President International Hotel Development responsible for Southern Europe.

  Professional Qualifications

  The desired candidate is likely to possess a bachelor’s degree or equivalent level qualification and/or experience. An MBA is preferred but not essential. Expertise in real estate finance, development (in particular franchise and management contracts) and an in-depth understanding of the hospitality sector in Greece, Cyprus and/or Israel are critical characteristics. The successful candidate will be very commercial and have highly developed analytical and financial skills. S/he will demonstrate ability to effectively understand hotel transactions (both franchise and managed); handle multiple projects on short timetables and manage internal resources efficiently. S/he will be mature, have a professional demeanor and will be capable of expressing confident and independent judgment in a collaborative manner. A key criterion is that the desired candidate has an entrepreneurial attitude and the stamina to source and close deals and manage the entire development process with little support.

  The individual will have proven credentials and will be able to demonstrate a successful track record of delivering development deals (either as a developer or a consultant) within the hospitality industry. S/he will have a very strong network in the region.

  Superior communication and presentation skills, both oral and written (and for internal and external purposes) are critical and the individual should be well organized, computer literate, and detail-oriented. In addition, the candidate will be fluent (written and spoken) in English, knowledge of Hebrew and/or Greek are an advantage – but not a requirement. The ideal candidate will possess high levels of credibility and respect within the European hospitality industry thereby enabling immediate recognition as a key member of the European hotel development community.

  The right individual will be highly adept at establishing and maintaining a high profile within the marketplace. This person will be extremely relationship oriented and be successful at nurturing long-term relationships (both internally and externally) that yield rewards.

  Compensation

  A competitive compensation package matching industry standards and experience including base salary, stock options and an annual bonus capped at 150% of the total annual salary.

  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.

• About the company

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