JOB SUMMARY
Under the direction the Vice President of Real Estate & Development, the Senior Director of Real Estate Strategy and Capital is responsible for (1) managing and executing data-driven analysis to support and drive the national real estate strategy for the company; (2) managing the overall pipeline and club development process and systems; (3) managing the in-club exercise equipment strategy. Position manages a team consisting of a manager, a development coordinator, and two real estate analysts. This team delivers the internal and external financial, demographic, and geographic data that drives critical strategic decisions for managing and growing the company's real estate portfolio. Additionally, the team manages the exercise equipment and strategy within clubs. This person should be a "go to" resource for facts and critical data related to current and future sites, clubs, and equipment. The Senior Director is responsible for managing workflow and work process, quality checking analysis from direct reports, training and developing direct reports, working with and coordinating the efforts of partners in Facilities, Construction, Lease Administration, Real Estate Legal, Finance, Pricing, and Group Sales/Innovations departments and interpreting the data to deliver insights derived from both quantitative and field analysis from the DRE team. It combines elements of strategic planning and tactical execution of a production process (getting deals approved) while managing and leading teams to achieve the above. Additionally, the Senior Director of Real Estate Strategy and Capital is responsible for defining, and measuring the strategic direction of capital spend across the organization (specifically focused on Real Estate and Construction) in an effort to improve and maximize Return on Invested Capital (ROIC) and long term growth associated with the Long Range Plan.

ESSENTIAL DUTIES & RESPONSIBILTIES

1. Development and Maintenance of Real Estate and Constructions Strategic Plan
Capital Planning
* Drive a multi-year planning process to set portfolio management objectives down to the individual assets
* Work with VP of Real Estate & Development, SDRE (Real Estate), SDOC (Construction), and SDOF (Facilities) to develop national plan for new club growth, closures, renewals, refreshes and remodels based on the company's strategic goals and objectives, capital budgets and required return targets
* Work with Corporate Finance to manage the capital program for real estate and major facilities investments enterprise-wide; including annual capital planning process as associated road mapping of the capital plan as well as tracking, evaluating, and optimizing current and on-going capital projects enterprise-wide
* Lead complex or sensitive planning initiatives
* Lead annual strategic planning and budgeting process, coordinating inputs with multiple stakeholders, including senior leadership and functional leaders
Evaluation/ Decision Support
* Manage the processes, infrastructure, and systems need to set, track, and decide on capital projects and active construction pipeline developments
* Work across asset planning, finance, real estate transactions and construction project management to ensure timely submittal of business cases
* Track strategy implementation through financial reporting and scorecards
* Oversee preparation of periodic business reviews, Real Estate penetration meetings, and Board meeting presentations
* Provide proactive insight into key issues, risks, and opportunities and make recommendations to enable decision-making on a timely basis
* Oversee ongoing management and tracking of development and R&M capital and integrate with strategic plan to ensure financial viability and effective capital and R&M expense forecasting and ROIC
* Manage the completion of all data-driven analysis and mapping to support the stated national portfolio strategy
* Create similarly supported Designated Market Area (DMA)-level strategies for club placement, relocation, and closure based on demographics, trade area targeting, customer segmentation and existing club performance
* Ongoing management of the plan as it evolves due to competitor movement, capital planning, club performance and trade area evolution

2. Management of the Real Estate Site and Investment Evaluation, Recommendation, and Approval
* Assist Real Estate leadership in managing the process for getting sites and deals approved through the Real Estate Committee (REC) and Board process which includes:

o Oversee the development of financial projections for individual sites, and quality checking models to ensure proper integration of input assumptions
o Review models with Finance to reach consensus projections
o Work with Pricing and Consumer Insights teams to obtain pricing and membership inputs to evaluate sites and fine tune pro forma models
o Work with Senior Director of Real Estate and Development Coordinators to ensure all support documentation is in place for REC review
o Provide tools to Senior Director of Real Estate and Development Coordinators to assist in site targeting and evaluation (field model, demographic tools, etc...)

* Drive the development of REC meeting presentations and support materials
* Assist VP of Real Estate & Development in setting capital targets and work with the Real Estate and Construction teams to achieve those ROIC and club standard targets
* Assist Finance with management of financial models and continuously work with them to improve the predictive capability of the financial models
* Manage and lead bi-weekly pipeline deal calls driving pipeline growth and aligning lease action strategies consistent with market plan (long range plan) and timely execution of lease actions. Participants include Real Estate, Construction, Facilities, and Legal representatives.

3. Team and Partner Relationship Management and Communication
* Manage a team designated to deliver the data, insights and clear presentations that drive improved decision-making
* Oversee mapping and predictive analytics software to ensure accurate market analysis for all geographical regions, including demographic data such as growth trends, traffic patterns, and competitive movement
* Maintain productive relationships and manage work process with all levels of the organization in Real Estate, Construction, Property Management, Finance, Club Operations, IT, Marketing, Pricing, and others to create pro forma models and market segmentation studies, all of which support both the overall strategic plan and the evaluation and approval of individual deals / investments
* Coach and grow the managers, analysts/coordinators on his/her team to enable them to improve their understanding of key drivers of club success and deliver valuable insights for critical capital decisions for the company

4. Tracking of Club Counts, Performance and Tracking/Projecting Capital Spending
* Work with Finance team to track results of new club openings vs. budget and to track and predict capital spending and budgeting for new club and relocation capex.
* Utilize team, be the "owner" of the data for Development Team related to club performance, new club capex spending, and definitive record of club counts

5. Strategy and Process Development
* Continually evaluate existing real estate, construction, and facilities process for efficiency and process improvement
* Perform ad-hoc analysis supporting corporate strategic initiatives including real estate suitability for innovation concepts
* Evaluate and support "club of the future" through analysis and feasibility studies to maximize workout floor and member experience while converting underutilized space
* Manage pipeline and club development process, continually seeking improvement and efficiency throughout development life cycle

ORGANIZATION RELATIONSHIPS
This position reports to the VP of Real Estate & Development and has constant interaction with all levels of the organization including Senior Vice Presidents, Executive Vice Presidents, Chief Financial Officer, and Chief Executive Officer through ongoing communication and monthly meetings with C-level executives, senior management, and field leadership to target, evaluate, and approve new club locations. Position manages a team including Manager, Coordinator and Analysts.

REQUIRED QUALIFICATIONS
Knowledge, Skills & Abilities
* Strong financial skills in real estate.
* Seasoned professional with outstanding judgment, leadership, and interpersonal skills.
* Excellent communication skills and the ability to influence others and build meaningful team relationships.
* Ability to think strategically about real estate positioning, trade area dynamics, pricing, demographics and overall drivers of club success.
* Excellent knowledge of industry trends and drivers of club success, and the ability to understand the project development process and the requirements of large-scale, nationwide, multi-unit development.
* Advanced PC based computer skills, including presentation software, word processing and spreadsheets. Ability to manipulate Excel based financial models, and create impactful presentations.
* Interest in strategy, real estate, have a strong work ethic, outstanding academic record, strong finance and accounting background, good research skills, strong/outstanding financial modeling experience, and excellent communication (including use of PowerPoint) and people skills.

* Motivated and demonstrate initiative in problem solving
Minimum Educational Level/Certifications
* Bachelor's degree in real estate, business, finance or related field
Minimum Work Experience and Qualifications
* 7+ years of work experience in real estate strategy, financial analysis, strategy consulting, private equity, or a related field
* Experience with the use of enterprise software packages, for the purposes of obtaining internal data and/or running reports on existing performance data
* Management/Business development experience with a track record of growing and building teams/customer relationships
Physical Demands/ Environmental Conditions
* Some work is performed in a standard office environment without unpleasant or hazardous conditions. Work entails typical physical demands involved in office work
* Regularly required to work standard office equipment (personal computer, copy machine, fax machine, etc.).
* Ability to work on a computer up to 7 hours a day
* Regularly required to sit for long periods of time, and occasionally stand and walk
* Occasionally required to stoop, kneel, climb and lift up to 50 pounds.
* Periodic travel to and work in real estate locations
Travel Requirement
* Occasional overnight travel may be required

PREFERRED QUALIFICATIONS
Knowledge, Skills & Abilities
* Ability to learn or experience using Accruent, PeopleSoft, Khalix, or Business Objects enterprise software packages
Educational Level/Certifications
* Master's Degree in real estate, business, finance or related field
Work Experience and Qualifications
* Experience in retail/fitness industry.
* Experience working in Retail Department of large multi-unit retail business.

DISCLAIMER: This job description is intended to describe the general job functions and requirements for this position. This is not intended to be an exhaustive list of all the qualifications, responsibilities, duties, and skills required. 24 Hour Fitness reserves the right to modify, add, or remove duties as necessary.