Job Summary
The Business Development Manager is responsible for driving the growth of the serviced apartment (SA) portfolio by identifying and securing new management contracts across but not limited to serviced residences, 3-star hotels, and co-living spaces. They will lead the entire deal lifecyclefrom initial sourcing and financial feasibility to negotiating commercial terms and final contract executionwhile serving as the primary relationship lead for property owners.
Key Responsibilities
Portfolio Growth & Sourcing
- Identify and pursue new business opportunities through cold calling, networking, and industry referrals.
- Target a diverse mix of assets: underperforming 3-star hotels, conversion-ready co-living spaces, and greenfield serviced residence projects.
- Conduct site inspections and preliminary assessments to determine a property's suitability for the brand.
Financial Modeling & Commercial Negotiation
- Prepare and present robust financial feasibility studies, including GOP projections and ROI analysis for potential owners.
- Negotiate the core commercial terms of Management Agreements (HMAs) focusing on base fees, incentive fees, and technical service fees.
- Navigate the legal and commercial closing process to ensure agreements are signed in a timely manner.
Owner Relations & Account Management
- Act as the primary point of contact for property owners and their representatives (asset managers) post-signing.
- Manage expectations regarding project timelines, brand standards, and operational performance.
- Ensure a smooth handover from the development phase to the operations team.
Market Intelligence
- Maintain a deep understanding of market supply/demand, competitor performance (RevPAR, ADR), and emerging trends in the co-living and mid-scale hotel sectors.
- Attend industry conferences and stay updated on local zoning laws or hospitality regulations.
Key Requirements
- 5+ years in Hospitality Development, Real Estate Investment, or Hotel Brokerage.
- Proven track record of concluding high-value commercial contracts.
- Ability to build and explain P&L projections and valuation models.
- Familiarity with the unique operational needs of co-living/serviced apartments vs. traditional hotels.
Education
Bachelors in Business or Marketing
Others in Hospitality Management or Real Estate
