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Vice President, Business Development

Posted May 12, 2022

Crestline Hotels & Resorts
Fairfax, VA
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About This Job

The VP of Business Development will assist with the company’s business development efforts including third-party hotel management, hospitality investments (equity, key money, loans, etc.), and possibly corporate mergers and acquisitions. The candidate will work closely with the feasibility team and other Crestline departments to prepare hotel pro formas and then will present the underwriting for Crestline’s capital partners. 

In addition to working with Crestline’s current capital partners, the successful candidate will build a network of equity partners to help source new business opportunities for the firm. 

The candidate will need to be an outgoing individual who thrives in juggling various projects, building consensus between departments, listening to capital partners, and creating long-term business relationships. 

This individual will be responsible for clearly communicating complex independent financial modeling and analysis processes for potential deals, existing hotels, and other investors / corporate entity needs. 

The candidate will report directly to the Chief Financial Officer but will have close communication with the CEO as well as with Department heads in Feasibility, Legal, Operations, Revenue Management, and Sales and Marketing. The position would preferably be based at the firm’s corporate headquarters in Northern Virginia. Nonetheless, if the candidate is not able to relocate, some consideration could be given to working from a remote location, but the candidate would be expected to spend considerable time at the outset in the corporate office. The candidate will also be expected to travel within the U.S. to meet with Crestline’s business partners and to visit hotels.

Key Duties & Responsibilities

  • Collaborate with feasibility and other departments to assess the financial viability of new business opportunities
  • Work with Crestline’s current business partners (investors, brands, analysts, etc.) and develop new business connections to source management contracts and hospitality investment opportunities
  • Meet with business partners and build long-term business relations with hotel ownership groups
  • Responsible for all aspects of analyzing, modeling, assessing, and closing on new management opportunities
  • Lead the management contract and investment negotiations, in conjunction with Crestline’s legal team and other departments
  • Serve as an additional company point of contact for brokers, consultants, industry analysts, and others for sourcing potential acquisitions/deals
  • Investigate and follow-through on maximizing return-on-investment projects assigned by Chief Financial Officer within the existing portfolio (i.e., excess land sales/development, brand changes, major cap-ex projects)
  • Attend major industry conferences
  • Drive company marketing and public relations activities
  • Engage with the executive team to develop strategic planning initiatives
  • Historically, Crestline has pursued corporate mergers and acquisitions and has used unique financial mechanisms to create new real estate platforms. Should Crestline elect to pursue such strategies, the candidate would be expected to assist with:
  • Discussions/presentations with equity and debt partners
  • Identifying and underwriting portfolio/company targets
  • Presenting corporate financial models to the key stakeholders

Education & Experience

  • Bachelor’s Degree from a four-year college or university with a degree in Finance, Business, or Hospitality is required. An MBA is preferred  
  • Extensive experience (5+ years) in business development and the hospitality industry
  • Successful track record of negotiating complex, strategic deals at the corporate/ regional

Crestline Hotels & Resorts is an Equal Opportunity Employer/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, protected veteran status, sexual orientation, gender, identity, or disability status.

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About this Employer

Crestline Hotels & Resorts

3950 University Drive
Suite 301
Fairfax, VA 22030

(571) 529-6100

Corporate Office

www.crestlinehotels.com

Careers and Job Opportunities for Crestline Hotels & Resorts, LLC

Trust, collaboration and powerful partnerships are the keystones to Crestline Hotels & Resorts success. Headquartered in Fairfax, Virginia, and with hotels and resorts in 28 states and the District of Columbia, Crestline is ranked as a top 10 hotel management company. Since its creation in 2000, the company has been a preferred partner of the major hotel brands including Marriott, Hilton, InterContinental Hotel Group, Starwood and Hyatt.

Using its team approach to developing and implementing industry leading Best Practices, Crestline raises the bar for management innovation. Crestline's leadership operates under the premise that "The cornerstone of our business success is forging strong relationships - with our owners, with our associates, and within the communities in which we operate."

Crestline is a team of dedicated hospitality professionals who, each day, make it their top priority to provide excellent guest service while enjoying what they do. They are passionate and prideful about their work and do it with a smile. They respect each other and value being part of an exceptional group of people who are motivated and committed to success and service. Crestline offers opportunities for all employees regardless of their position. Whether you are a room attendant, front desk agent, entry level or senior level manager, if you are passionate about learning and embracing new challenges, you can grow with us throughout your career. In fact, we enjoy one of the industry's highest retention rates and on average, 30% of our positions are filled through promotions and internal referrals. We also provide a comprehensive benefit and leave package.

The hospitality industry is one of the largest employers in the U.S. and we like to think Crestline is one of the best places to enjoy a hospitality career. We believe in growing our talent and offer tuition reimbursement, opportunities to learn through cross-training and development programs, and a variety of ways to enhance your career within the Company. Crestline is growing and we invite you to come be part of our success.