Job description The SVP Site Acquisition (SVPSA) will develop and execute Value Place’s company and franchise Real Estate Acquisition Plan. The SVPSA is accountable to direct all activities needed to identify, evaluate, present for approval and place under contract land for corporate hotels and select franchise hotels per the development plan and Annual Operating Plan. Working with the other department staff SVPSA is responsible for researching market conditions in local, regional, or national areas, proposing sites to company executives and franchisees, and placing land under contract. The SVPSA assures all real estate sites meet designated pro forma returns within specified risk parameters. ESSENTIAL FUNCTIONS: Develop and execute a national real estate corporate and franchise development plan to prioritize markets and acquire sites for corporate development and identify sites for franchise development within the context of the company’s strategic corporate and franchise development plan. Manage and expand Value Place’s nationwide network of real estate brokerage professionals to source sites in designated markets for corporate and franchise development. Manage, coordinate and direct numerous third parties including corporate and local legal counsel, architectural firms, civil engineering firms, merchant developers, merchant entitlement firms, feasibility consultants, etc. Develop and manage a real estate pipeline of sourced sites that meet identified project cost and return requirements until a purchase and sale agreement is executed, including the coordination of appropriate financial, pre-construction, environmental and entitlement diligence. Provide extensive and consistent documentation of sourced sites for internal and franchise review utilizing proprietary and third-party tools and reporting. Present sites to Value Place’s real estate approval committee with all required documentation and diligence. Negotiate purchase and sale agreements with land sellers under pre-approved terms, obtaining approvals for non-confirming terms and conditions. Present sites to franchisees for approval with all required documentation and diligence. Serve as a subject matter expert for the ongoing development of automated site selection tools used for corporate and franchise development. Coordinate, control and report on deal cost expenditure and exposure. Selects, trains, supervises staff of regional site selection professionals and department support staff, assures ethical conduct with all third parties and within the company. Completes annual development plan and provides AOP inputs/information including department budgets, as requested. Desired Skills and Experience QUALIFICATIONS: Bachelor’s Degree 7+ years’ experience in corporate fee real estate site selection for retail or hospitality Superior ability to compile, calculate, audit and verify information or data. Has an excellent ability to convincing others to agree to terms of the contract or to reach a beneficial compromise. Keeps up-to-date technically and applying new knowledge to your job. Uses all relevant information and individual judgment to determine the purchase contract comply with laws, regulations, or standards. Extremely detailed and organized, with superior written and verbal communication skills. Must have outstanding multi-tasking and problem solving skills. Ability to interpret complex information and provide valued direction. Ability to work under pressure with multiple deadlines in a fast-paced environment. Ability to travel extensively. EDUCATION AND WORK EXPERIENCE: A BS/BA degree from an accredited college/university required. 7–10 years real estate experience in the hospitality or retail/ commercial land development Experience in market research and planning in the hospitality industry Computer literate with working knowledge of MS Outlook, Word, Excel, and Access Professional appearance and presentation About this company Value Place, founded in 2002 by entrepreneur Jack DeBoer, is a short-term residential franchise Brand that features secure lodging with affordable weekly rates, rigorous cleanliness standards, and a commitment to the comfort, privacy and peace of mind of each guest. Value Place provides its guests with the convenience of a hotel with all the essentials of an apartment. The Value Place Brand comes from the management team that created and developed lodging brands such as Residence Inn (now owned by Marriott) Summerfield Suites (Hyatt) and Candlewood Suites (Intercontinental). The company is headquartered in Wichita, Kansas. For more information, visit ValuePlace.com.
