Director of Hotel Acquisitions

Job Title:                   Director, Hotel Acquisitions

Job Type:                   Full-Time; Exempt

Reports To:               Managing VP of Acquisitions

Date:                          June 2021

 

COMPANY BACKGROUND

Real Capital Solutions is a highly entrepreneurial Real Estate Investment Company pairing active capital with an emphasis on street level solutions. As an active investment management company, we source value-add, opportunistic, development and longer-term hold investment opportunities in a variety of markets. RCS is a solutions-oriented real estate company that focuses on Acquisitions, Development, Management and Sales for highly complex and structured real estate opportunities. With 35 years of operational and real estate expertise, we have delivered returns that are in the top 5% of private equity real estate firms in the US. Real Capital Solutions is a highly entrepreneurial Real Estate Investment Company pairing active capital with an emphasis on street level solutions.

 

SUMMARY

The Director of Hotel Acquisitions will generate new acquisitions, joint venture investments and development opportunities.  This position will evaluate each new hotel opportunity to determine whether the investment meets certain key criteria. Reporting to the Managing VP of Acquisitions, and with the Managing VP’s oversight, the Director of Hotel Acquisitions will serve in a deal structuring capacity and complete investment analysis, underwriting, coordination and completion of due diligence, contract and partner negotiations, equity and financing packages, and risk analysis involved in the purchase and investment plan for the asset.  He/she will also be involved in the equity capitalization and debt financing process. This includes working with the capital markets team to coordinate the presentation of the investment to both internal and external equity sources as well as various debt providers. 

 

• Responsible for developing and implementing the hotel initiative
• Mentor analysts in RCS underwriting methodology.  This includes mentoring in both the technical expertise as well as teaching RCS underwriting metrics used in pricing deals.
• Work with analysts and their work product to ensure that a consistent product is being delivered to the Managing VP of Acquisitions as well as the RCS Investment Committee and deal investors.
• Source and underwrite potential acquisition and development deals
• Draft initial business/investment plan for ADR, capital improvements, operational changes and sale
• Work with Managing VP of Acquisitions to continually refine investment strategy
• Work with financing team to source, quote, and place project level financing
• With oversight of Managing VP of Acquisitions negotiate with sellers and brokers to secure acquisitions on best possible terms
• Propose to Managing VP detailed business plans for Investors approval including the modeling of financial projections with detailed capital and operating budgets
• Underwrite and perform due diligence
• Develop initial annual operating and capital budgets with the financial team

• Assist with underwriting and vetting of key assumptions (e.g., ADR, absorption velocity, occupancy, operating expenses and CapX needs) on properties

• Participate in the origination and execution of property financings

 

QUALIFICATIONS

 

• Bachelor's degree in finance, hospitality, construction, real estate or related field.
• Master’s degree in Real Estate or MBA is a plus.
• 5 – 10 years of real estate acquisitions experience.
• Real estate acquisition underwriting experience is required
• Excellent quantitative, analytical, and problem-solving skills
• Strong interpersonal and management skills
• Ability to approach problems both logically and creatively
• Excellent organizational and strategic planning skills
• Proficient in Microsoft Office Suite
• Strong understanding of Argus lease analysis software
• Understand deal structuring, waterfalls, development and generate creative solutions to maximize investor returns
• Excellent communication skills, both oral and written
• Ability to create financial models is essential
• Excel in a high-impact position within a fast-paced, deadline-driven environment
• Highly organized with a keen sense of moving things forward to positive end results
• Willingness and ability to travel up to 20%; travel frequency intermittent.

 

DESIRED PERSONAL TRAITS

 

• Passion and loyalty for the company.
• Ability to think analytically and problem solve, combined with a willingness to ask questions and work collaboratively.
• Hard-working team player, positive and enthusiastic.
• Highly organized and detail-oriented self-starter.
• Ability to work under time pressures with multiple priorities while able to meet deadlines with accuracy.
• Discretion with confidential information.
• Comfort with ambiguity and working in a fast-paced environment.
• Very driven and competitive
• Willing to work extremely hard
• Self-motivated

 PHYSICAL DEMANDS

 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

While performing the duties of this job, the employee is frequently required to stand, walk, and talk and hear. The employee is frequently required to sit when doing paperwork or answering emails; use hands or fingers to utilize computer. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

 

WORK ENVIRONMENT

 

The work environment characteristics described here are representative of those an employee will encounter while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.