Job Description
The job in a nutshell
 
  • Development is a key driver of EBITDA growth and remains vital to short, medium and long-term value creation of Travelodge, given the like-for-like outlook

  • To deliver the strategic objective of the Development Team, of opening successful hotels in locations where customers want to stay, in order to drive the profit growth of the company, by finding, negotiating and securing suitable new development opportunities. New hotels to be conveniently located to satisfy budget travel demand (major leisure locations, business hubs, transport hubs, growth markets).

  • To prioritise new openings in locations expected to generate the highest EBITDA returns.

  • To secure opportunities that will enable Travelodge to complete successfully against existing and future branded budget competitors, from both a location, local amenity and hotel design/specification perspective.

  • To secure opportunities that minimise the risk of new openings not being profitable.

  • To manage the development process to ensure that Travelodge has adequate legal, commercial and operational protection in respect of each new transaction. 

 

What you’ll be doing:
 

  • To recommend appropriate target requirements suitable for a new Travelodge opening. In so doing, to take into account local demand drivers, existing and future competitor supply and market growth prospects.

  • Communication with developers, valuers, investors, property agents, landlords, developers and land owners regarding Travelodge’s development requirements, financial strength and commercial requirements.

  • Within a defined geographical area, to find and identify appropriate development opportunities for new hotels and negotiate acceptable commercial terms with land owners, developers and investors (as appropriate), that comply with Travelodge’s financial hurdle rates, Brand Standards and operational requirements, in order to deliver new openings that will achieve the required financial returns and customer satisfaction metrics. This involves making offers on the company’s behalf for new, 25, 30 or 35-year lease commitments.

  • To manage the acquisition of individual development opportunities. This involves persuading land owners and developers to proceed with Travelodge rather than a competitor hotelier or alternative land use, negotiating and agreeing appropriate Heads of Terms in accordance with Travelodge’s requirements, managing the project team (Planning Consultant, Outsourced Project Manager and Solicitor) and preparing an Acquisition Proposal for the project, for approval by the Investment Board and reviewing the subsequent Main Board approval paper. 

  • Once a project is approved, manage the external professional team (Planning Consultant, Project Manager and Solicitor) to achieve an exchange of contracts for an Agreement for Lease and Lease in line with the Company’s requirements, as quickly as possible. This involves negotiating the legal contracts to ensure that Travelodge has all necessary, appropriate legal, commercial and operational protection. To manage and approve the costs associated with this process, in accordance with the Board-approved project CapEx levels. 

  • To deal with any project variations that arise prior to any start on site. This may involve further contract negotiations and securing further business approvals.

  • Once legal contracts are exchanged, to manage projects through their conditional phase and liaise with all necessary parties to ensure that conditions are cleared as quickly as possible. Thereafter, to assist, as necessary, the Project Management Team during the on-site phase and New Openings Team during the initial trading period in order to deliver good Customer Journeys.

  • This process requires the management and delivery of multiple development projects simultaneously (ranging from around 10 to 15 projects at any one time, at various stages of delivery), the management of numerous external property consultants, the control and management of development CapEx and the project management of development opportunities.

  • Provide general support, as necessary and appropriate, to the Estates Team and other departments in connection with property related issues

 

Stakeholder management

 

Internal: 


  • The Main Board

  • The Investment Board

  • The Plan Review Committee


External: 


  • Land Owners

  • Developers

  • Valuers

  • Investors and funders

  • Property Agents

  • Other Occupiers

  • Planning Consultants

  • Quantity Surveyors, Project Managers and Employer’s Agents

  • Architects

  • Solicitors

 

People and budget:

  • Responsible for managing a project team of four or five individuals for each development opportunity that proceeds; comprising a solicitor, planning consultant, quantity surveyor, pre-contracts manager and, sometimes, Out-Sourced Development Manager or retained agent.

  • On average, each development opportunity will involve a total rent commitment for Travelodge of over £11 million and deliver an NPV for the company of around £1m

  • The average development CapEx per project is around £150k.

 

What we’ll expect from you

 
Essential
  • Comprehensive understanding of the property development, investment, financing and valuation processes

  • Highly competent property professional, with sector expertise

  • Must be accurate and confident in communicating with people, with excellent attention to detail.

  • Must have an excellent geographical knowledge of specific areas of the country.

  • Requires a detailed understanding of Travelodge customers’ needs and requirements.

  • Be able to work under high pressure to achieve tight timescales.

  • Be prepared for the fact that projects take a significant time to be delivered (on average around 4 years from finding a project to the new hotel opening) and that there is a high project attrition rate.

  • To be able to accept that as Travelodge follows a leasehold method of acquisition and development, much of the control is in the hands of the developers and to be able to manage the process accordingly, as far as we are able once contracts exchange

  • Have an in depth knowledge of legal contracts.

  • A strong commercial acumen and understanding of the wider business and stakeholder aims.



Desirable: 


  • RICS qualified

  • Post Qualification Experience 

  • Wide property contacts base

 

At Travelodge, we believe that behaviours are just as important as the activities you carry out. The ones we look for in every colleague are:


I care about people

  • I treat everyone in a way I would like to be treated

  • I am easy to work with

  • I have a can do attitude

  • I care about the impact my work has on others


I pay attention to detail 

  • I do the little things that make a difference to our customers 

  • I work to brand standards

  • I treat Travelodge time, equipment and stock as if it were my own


I drive for results

  • I hit targets in my role and work at the right pace

  • I take ownership of problems and try to fix them fast

  • I look for ways to avoid future problems

  • I look for ways to promote Travelodge


What you can expect from us 


Culture 


At Travelodge, we are warm, straightforward and optimistic. We have a big footprint in the UK, but still a small company feel and you can expect quality and value to be built in to everything we do. You’ll have the support of a close network of colleagues and managers, and every day is different here! We want you to bring your personality to work and we love our diversity.


Reward and recognition 


It’s not just our customers we want to wake up with a smile on their face. As well as a competitive salary, being part of our hotel support centre means great holiday entitlements, pension contribution deals, being part of our bonus scheme, and a Thanks Card giving generous room and food discounts as well as friends and family rates.


Career and development 

 

We want you to develop further with us at Travelodge and we’ll provide you a development plan to help you reach your goals.   You can expect to have a full induction and training relevant to your role. We advertise all our vacancies internally, so you’ll have the opportunity to really develop your career with Travelodge.


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