Senior Director - Residential and Mixed Use Development CALA

Reporting to the Vice President, Mixed-Use Development, The Senior Director will be responsible for feasibility and development support of MI residential development opportunities in all Caribbean and Latin America (CALA).  The position will also lead select residential development projects. The Senior Director identifies and pursues new business opportunities and coordinates a multidisciplinary team involved in the review, approval, and finalization of contracts for new projects. Success in the position demands a driving focus on creation of shareholder value and earnings, as well as a passion to champion new business opportunities that build brand equity and help drive customer preference. 

SCOPE / BUSINESS CONTEXT / CANDIDATE PROFILE

Business Context: Expected Contributions – Essential Job Functions

The addition of new units is one of the principal drivers of Marriott’s earnings growth strategy and an important element in maintaining and advancing the quality and brand equity of Marriott’s Lodging System. The company’s unit growth strategy focuses primarily on acquisition of management contracts and licensing of our hotel brands to third party owner/operators under franchise agreements. The Senior Director performs a central, critical role in identifying, structuring deals, and successfully closing on opportunities for new units, and building win-win relationships with new and existing hotel owners and franchisees.

Key Accountabilities

• Support CALA developers in initial pitch process, underwriting, document review, negotiation, approval, and finalization of stand-alone residential, branded rental, and mixed-use development projects.
• Ownership of the underwriting process for proposed residential projects, residential projects in development, including review of third-party market studies, conducting market research, prepare price and pace analysis to determine value as part of the HDC approval process. 
• Responsible for global residential database and liaising with global Residential and Hotel developers to track the status, key project information and timelines.
• Lead and/or oversee annual research/market studies including brand price/pace premium analysis, comparable brand positioning analysis, and global pipeline analysis.  Assess and make recommendations related to the overall strategic positioning of the various MI residential brands in the marketplace.
• Support Residential and Hotel Developers on all CALA residential projects during the deal negotiations, committee approval and draft agreements phases of the development process.  Coordinating and liaising with internal stakeholders, ie Brand, Global Design, Residential Operations and Compliance, and Legal to get their feedback and buy-in on residential projects in the pipeline.
• Lead select residential development projects including LOI negotiation, HDC approval, contract negotiation and execution.   
• Facilitate and participate in the review of draft agreements including letters of intent / memorandums of understanding for global residential projects to ensure consistency among key terms and clauses. 
• Provide guidance on minimizing risk based on experience with other projects and LOIs and MOUs. 
• Participate in the review of draft License & Development Agreements; COA/HOA Association Management Agreements; Shared Services Agreements, and Rental Agreements for all brands and all residential projects worldwide to make certain key terms and clauses are included and properly represented. 
• Provide comments and feedback to Legal and Residential/Hotel Developers.   
• Project management on select mixed-use development projects.
• Perform other duties as assigned.

Candidate Profile

Experience

• Mature, professional demeanor, capable of expressing confident, independent judgment.
• Analytical thinker with strong interpersonal skills.
• Five to eight years of feasibility, legal and/or financial analyses experience related to hotel/residential development or related experience. Direct hotel and/or residential development experience is a plus.
• Understanding of the local hotel, residential and investment market. Familiarity with local capital markets is a plus.
• Demonstrated ability to effective handle multiple projects on short timetables and manage staff resources efficiently.
• Willingness to travel frequently to evaluate sites/hotels/residences, meet with owner representatives, and evaluate market opportunities

Personal Competencies (Knowledge, Skills, Abilities and Other Attributes)

• Must have a broad business view; sharp business acumen.
• Must have excellent communication