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Vice President of Acquisitions

Posted May 14, 2022

Hersha Hospitality Management (HHM)
Philadelphia, PA
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About This Job

Overview

Opportunity: Vice President, Acquisitions & Development

Hersha Hospitality Management (HHM) is an industry-leading hotel investment, management and development firm that provides turn-key management solutions to over 150 hotels across the United States, which includes world class brands in the select service and full service markets as well as a collection of independent and boutique hotels. 

HHM is seeking a Vice President for its Private Equity Investment Platform responsible for sourcing, structuring, and acquiring hotel real estate in North America.  The position will report to the CFO and Head of Investments and be part of a team with seasoned industry veterans whom have acquired and operated hotels for 30+ years, including over $1BN in the last 12 months.  Over time, team members may participate in real estate deal investments for personal wealth creation.

Potential Career Path

Sr. Vice President of Acquisitions & Development 

Essential Job Functions

  • Sourcing off-market investment opportunities through existing network as well as warm and cold-calling owners of hotels
  • Coordinating real estate transaction structures, including multi-tiered promote structures, mezzanine financing, incentive management fees, and joint ventures
  • Leading the underwriting, due diligence, and execution of hotel acquisitions and development opportunities and presenting findings to company executives
  • Conducting detailed market and feasibility analyses for new markets, portfolios, and individual acquisition opportunities
  • Developing and maintaining financial models for existing and prospective investments
  • Negotiating business term sheets and contracts for management and investment opportunities
  • Compiling operating data and research on industry trends, and preparing presentations for monthly acquisitions meetings and quarterly presentations to the HHM Investment Committee and Board of Directors
  • Working closely with other division leaders (Operations, Legal, Accounting) to transition new hotels and develop relationships with key institutional partners
  • Follow sustainability guidelines and practices related to HHM’s EarthView program
  • Perform other duties as requested by management

Position Requirements

  • Bachelor’s degree required, preferably in Finance, Real Estate, Business or Hospitality; MBA is a plus, but not required 
  • Minimum 10 years of experience in real estate or hotel acquisitions and development; Investment Banking or Private Equity experience preferred. Minimum 2 years of experience at the Senior Associate or Principal level.
  • Deep market knowledge and experience conducting and presenting feasibility studies
  • Experience negotiating real estate transactions, including operating terms, capital structures, promoted interests, and joint venture documents
  • Exceptionally strong Excel-based financial modeling skills as well as proficiency in MS Word and PowerPoint
  • Strong analytical, problem solving, and decision-making skills
  • Demonstrated track record with external client relationships
  • Superior presentation as well as verbal and written communication skills

Work Environment and Context

  • Extended work hours may be required as needed and determined by deal flow
  • Occasional travel to managed properties and potential investment properties

What We Believe

People Are Our Capability – Hearts That Serve – Only Excellence – Stay Nimble - Own It

About Us

HHM is proud to be an equal opportunity employer. We do not discriminate on the basis of race, color, gender, gender identity, sexual orientation, marital status, pregnancy, national origin, ancestry, age, religion, disability, veteran status, genetic information, citizenship status or any other group protected by law.

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About this Employer

Hersha Hospitality Management (HHM)

510 Walnut Street 9th Floor
Philadelphia, PA 19106

(215) 238-1046

Management Company

www.hhmhospitality.com

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About the company

HHM, also known as Hersha Hospitality Management, is an industry-leading hotel management, investment and development firm. HHM provides turn-key management, asset management or receivership solutions for 106 hotels in 19 states, including more than 20 full service hotels and 24 independents.

Join the Legacy of Happiness

It is no coincidence that Hersha means “happy” in ancient Sanskrit. HHM’s rapid growth, focus on associate development and its commitment to serve guests, our associates and the local communities we work in, can make any hospitality career seeker happy.

The Legacy of HHM Happiness

The legacy of happiness symbolizes how HHM was built, namely on a strong foundation of core values: honesty, communication, community, personal growth and achievement. These values combined with a passion to serve others and a respect for every associate’s unique and valuable contributions is what makes us so successful. If you share our values and passion, HHM may be the place for you.

CAREER DEVELOPMENT

As HHM continues to stretch its properties across the country, we know our success is achieved through the collective and individual contributions of all associates. They are the heart and soul of our business and our ultimate goal is to maintain a culture of happiness in which our values are embedded and career development is encouraged. 

HALF OF THE GENERAL MANAGERS AT OUR
TOP 20 HOTELS HAVE BEEN PROMOTED
FROM WITHIN HHM.

Personal success is individually defined by each associate. HHM supports an individual’s desire to stretch professionally. We provide opportunities across various hotel brands, locations and job functions. As we grow, you grow.

At HHM, we are proud to employ some of the best in the industry.