Job Summary
Macdonald & Company is pleased to be exclusively partnered with Endeavor Real Estate Group to find and appoint a Principal of Hotel Development.Company Overview:
At Endeavor, we’ve built our continued success on a simple formula. Approach every relationship with integrity and treat every project like it’s in our own backyard. With this formula, we’ve grown steadily since 1999, through some of history’s most turbulent market conditions. It’s the foundation for projects that are built to last, and for a company dedicated to the needs of property owners, investors, tenants, and the community. It’s doing the right thing, for the right reasons. It’s our Endeavor.
Endeavor Real Estate Group is a privately held developer and investor headquartered in Austin, TX. The group has recently closed on its third fund (EOP3) at $630M and continues to strive to deliver best in class real estate in select markets across the US. With $5.4B in real estate assets, and 29M SF either acquired, developed or in development, Endeavor continues to operate as a prominent group in the real estate space.
Position Overview:
As the Principal of Hotel Development, you will be the driving force behind our hotel real estate development business, shaping its growth and success from inception. This role offers a rare opportunity to cultivate a platform from scratch with access to an existing pipeline of high-profile hospitality opportunities.
Your responsibilities will span the entire development lifecycle from identifying promising opportunities and presenting them to our investment committee to meticulously managing project execution through to successful completion. With your expertise in real estate development, deep understanding of the hospitality industry, strategic vision, and exceptional leadership skills, you will be instrumental in shaping the trajectory of our platform and establishing it as a leader in the market.
A key focus of the role will be on delivering best-in-class hotels and hospitality experiences that seamlessly integrate with all components of our neighborhood-defining mixed-use developments. In addition to overseeing existing projects, you will be tasked with sourcing and spearheading strategy for new opportunities, with a keen emphasis on ground-up development and value-add acquisitions.
Key Responsibilities:
Execution on Existing Pipeline:
- Lead the development team through all stages of the project lifecycle, including entitlement, design, permitting, construction, stabilization, and disposition.
- Collaborate with cross-functional teams, including architecture, engineering, legal, finance, and operations, to ensure seamless project execution and adherence to budget, schedule, and quality standards.
- Oversee the selection and management of third-party consultants, contractors, and vendors to support project delivery.
Deal Sourcing and Evaluation:
- Proactively identify and evaluate hotel real estate development and strategic acquisition opportunities in target markets.
- Conduct thorough due diligence, including financial analysis, market research, and feasibility studies, to assess the viability and potential risks of each opportunity.
- Develop and maintain relationships with brokers, property owners, land sellers, and other industry stakeholders to source high-quality deals.
Investment Presentation:
- Prepare comprehensive investment proposals and presentations for submission to the investment committee, outlining the rationale, financial projections, and strategic fit of each opportunity.
- Clearly communicate the value proposition and key drivers behind proposed developments and acquisitions to secure necessary approvals and funding.
- Outline which markets and type of hospitality opportunities should be pursued as part of a focused business plan.
Market Knowledge and Networking:
- Demonstrate a deep understanding of the hotel and hospitality real estate market, including current trends, market dynamics, competitive landscape, and emerging opportunities.
- Stay abreast of industry trends, best practices, and regulatory changes in the hotel and hospitality real estate sector through ongoing learning, networking, and participation in industry events and conferences.
- Express a knowledge and network of different brands, investors, and key personnel in the hospitality space throughout the US.
Risk Management and Compliance:
- Identify and mitigate project risks through proactive risk management strategies and contingency planning.
- Ensure compliance with all regulatory requirements, zoning ordinances, environmental regulations, and local building codes throughout the development process.
Stakeholder Engagement:
- Cultivate strong relationships with community stakeholders to foster support and goodwill for development projects.
- Represent the company at public meetings, hearings, and other forums to address concerns, solicit feedback, and build consensus.
Qualifications:
- Bachelor's degree in real estate, Business Administration, Finance, or related field; MBA or advanced degree preferred.
- Proven track record of successful hotel real estate development projects, with a minimum of 15 years of experience in a senior leadership role within the industry.
- Experience sourcing and executing on 4–5-star hotel developments or repositioning.
- Existing network of major hospitality brands and relationships.
- Deep knowledge of commercial real estate markets, including market dynamics, trends, and investment criteria.
- Strong financial acumen, with the ability to analyze complex financial models, perform valuation analyses, and make data-driven investment decisions.
- Excellent negotiation, communication, and presentation skills, with the ability to effectively interface with internal and external stakeholders at all levels.
- Exceptional leadership and team-building capabilities, with a demonstrated ability to inspire and motivate cross-functional teams to achieve common goals.
- Strong project management skills, with the ability to prioritize competing demands, delegate effectively, and drive results in a fast-paced environment.
- Understanding of legal and regulatory requirements governing real estate development, zoning, land use, and entitlement processes.
