Real Estate Development Associate (Commercial/Hotel/Retail/Land/Property – Site Acquisition Support)

The Employer: HRMC has partnered with a privately held, family-owned and operated real estate development company that owns, develops, designs and builds Drury Hotels. For over 51 years, the Drury family of companies has operated on good business values of hard work, fair prices, dedication and honesty, and currently owns and operates over 150 hotel properties in 27 states. This is a vertically integrated company with over 100 employees actively developing and building over 1,000 new Drury hotel rooms at a time, across the country.  With an experienced in-house team of developers, architects, engineers, interior designers, construction managers, legal support, and finance professionals, this team comes together to complete projects that live up to the company’s founding principles, delivering the highest quality hotels at fair and honest prices.

◼  Reports to a Director of Development and supports other members of the development team including Development Managers.

◼  Collaborates with departments throughout the company including architecture, construction, engineering, design, legal, finance, and accounting. May assist Director or Manager in leading multi-department projects or lines of effort.

◼  Supports Development Managers and Directors in the hiring and management of external resources (consultants, engineers, etc.).

◼  Identify, gather, analyze and compile market reports outlining hotel demand generators to determine feasibility for new hotel development (i.e., leisure activities, universities, hospitals, office parks, convention centers, airports, residential density).

◼  Locate and analyze data for competitive hotels in target markets and monitor news/updates for planned/future hotel competition.

◼  Run demographics reports for target markets and identify general trends in growth and income levels.

◼  Monitor real estate listings, auction.com, foreclosures, and mergers for potential development opportunities.

◼  Research zoning codes (i.e. use, density, parking, heights, setback, and signage) and assist in obtaining approvals/entitlements.

◼  Compiling traffic counts, researching highway plans, and identifying proposed short/long term changes that may impact a market/site.

◼  Research impact fees, development costs, and historical construction costs in support of new hotel/renovation budget preparation.

◼  Analyze historical Drury Hotel performance data and new market competitor data and develop initial project budgets and proformas.

◼  Compile sale comparables and summarize land values and tax rates.

◼  Prepare market reports and exhibits for real estate/investment committee deliverables.

◼  Identify key insights from data and make recommendations to the development team on market focus, site selection/acquisition, project cost and hotel performance assumptions and zoning/entitlement strategy.

◼  Coordinate/track due diligence tasks. (i.e., Environmental, survey, geo-tech, zoning)

◼  Support development team with hotel sales (coordinate marketing efforts, manage closing checklists, resolve varied issues, etc.).

◼  Travel with the development team to review markets and sites.

◼  Minimum of Bachelor’s Degree (Preferred emphasis in business, economics, legal, finance, or real estate.) Advanced degrees are also advantageous for candidacy.

◼  Two or more years professional experience or an advanced degree, preferably in real estate development, brokerage or management with experience in negotiations, sales and relationship building preferred. Hotel industry experience a plus.

◼  Valid driver’s license and proof of insurance required.

◼  Fluency in English, spoken and written.

◼  Must be able to provide proof of eligibility to work in the U.S.

◼  This is an on-site position; it is not remote or hybrid. You must reside within a reasonable commuting distance to the St. Louis area or be willing to relocate prior to your start date.