Business Development Manager at IBIC Investment Holdings

JOB OVERVIEW

• The ideal candidate will lead initiatives to generate and engage with business partners to build new business and acquire property for the company. This candidate will be focused and have strong communication skills. They should be able to think critically when making plans and have a demonstrated ability to execute a particular strategy.

JOB DESCRIPTION

Business Development & Brand Partnerships:

• Develop a comprehensive understanding of our brand’s values and objectives.
• Establish and maintain a network of industry contacts to leverage potential business opportunities.
• Prepare sales-related corporate documents.
• Increase brand awareness through business development activities for higher occupancy and revenue.
• Proactively identify and engage brands in other industries that would enhance our services.
• Represent the company at industry events and networking functions to enhance brand visibility.
• Initiate and cultivate strong relationships with potential partners in various industries.
• Communicate effectively to articulate the value proposition and benefits of a partnership.
• Develop and implement a strategic plan for cross-industry partnerships aligned with overall business objectives.
• Collaborate with internal teams to integrate partnership initiatives seamlessly.
• Analyze market trends and competitor activities to identify opportunities for revenue growth.
• Collaborate with the front office, finance and marketing teams to ensure competitive and profitable pricing structures for partner properties.

Revenue Growth:

• Develop and implement effective sales strategies for revenue growth.
• Utilize pricing strategies to maximize room revenue and occupancy.
• Collaborate with the marketing & front office teams to drive direct bookings and promotions.
• Maximize apartment sales and generate corporate & individual sales.
• Foster relationships with new corporate clients, travel agencies, and partners.

Property Partner Management:

• Develop and maintain strong relationships with existing property owners and partners.
• Regularly communicate with partners to understand their needs, address concerns, and ensure a high level of satisfaction.
• Coordinate and conduct partner meetings to discuss performance, upcoming opportunities, and collaboration strategies, ensuring timely communication with the Front Office regarding the planning, execution, and outcomes of these meetings.

Property Partner Acquisition:

• Identify and engage with potential property owners to expand the company's portfolio.
• Develop a robust pipeline of potential properties through effective lead generation.
• Initiate and nurture relationships with property owners, developers, and real estate professionals.
• Implement effective business development strategies to attract new partners and properties.
• Implement revenue optimization/pricing strategies to maximize the performance of existing partner properties and enhance overall revenue.
• Negotiate and finalize contractual agreements with new property owners.

Property Onboarding

• Coordinate the onboarding process for new properties to ensure a seamless transition into the George Residence portfolio.
• Collaborate with various departments, including housekeeping, maintenance, and front office, to establish operational protocols for the new property.
• Conduct thorough inspections of new properties to ensure compliance with George Residence's luxury standards.
• Implement quality control measures to address any discrepancies and bring the property up to the desired standard.
• Oversee the inventory setup for each new property, ensuring that all required items and amenities are in place.
• Implement asset management systems to track and maintain inventory levels for efficient operations.
• Manage the documentation process for new property acquisitions, including contracts, permits, and regulatory compliance.
• Collaborate with the Brands and Front Office departments to integrate new properties into the property management system (PMS) and the OTAs, website and other relevant technologies.
• Develop and update SOPs for each new property, outlining operational guidelines and best practices.
• Work with the inventory and procurement team in the setup of new properties.
• Work with the interior design and civil works teams in the setup of new properties.
• Train property staff on George Residence's SOPs to maintain consistency in service quality across all properties.
• Train Front Office and Sales staff on newly onboarded properties and their amenities, location etc.
• Ensure that all operational requirements are met for each property within the George Residence portfolio.
• Collaborate with the marketing team to create promotional materials and strategies for new property launches.
• Implement marketing initiatives to increase visibility and drive bookings for new properties.
• Implement initiatives to enhance the guest experience at new properties, aligning with George Residence's commitment to luxury hospitality.

Cross-Functional Collaboration:

• Work closely with the front office and marketing teams to develop promotional campaigns and marketing materials that attract property owners.
• Collaborate with the operations team to ensure seamless onboarding processes for new properties.
• Collaborate with cross-functional teams, including sales, marketing, and front office, to ensure a cohesive approach to revenue management.

Performance Monitoring:

• Develop and implement KPIs to measure partner performance, revenue generation, and overall business development success.
• Regularly assess and report on key metrics, providing insights and recommendations for improvement.

Training and Development:

• Conduct onboarding sessions for new property owners to ensure they understand company standards and values.
• Conduct onboarding sessions for the Front Office and Sales team on new properties to ensure they understand the details of each property.
• Provide ongoing support and resources to partners to enhance their property's performance.

Data Analysis and Reporting:

• Collate and analyze partner data to identify revenue optimization opportunities.
• Prepare regular reports on partnership performances for management review.
• Provide regular reports and insights on market dynamics, competitor activities, and potential growth areas.

Qualifications

• Bachelor's degree or equivalent experience
• 4 - 7 years' prior industry related business development experience
• Core Experience in Property Acquisition
• Strong communication and interpersonal skills
• Proven knowledge and execution of successful development strategies
• Focused and goal-oriented