VP, F&B Asset Management
$170,000–$220,000 year
On-siteChicago, Illinois, United States
Job Summary
Lead food and beverage as a portfolio discipline across hospitality assets, serving as ownership's primary point of contact with third-party restaurant operators and hotel management companies. Drive opening execution, transition management, and post-opening refinement while overseeing reconcept design and capital allocation strategies. Manage operator relationships through commercial negotiations, lease terms, and joint venture structures, holding teams accountable for performance commitments and contractual obligations. Review F&B P&L performance, establish benchmarking KPIs, and partner with senior leadership on concept direction and underwriting for acquisitions. This strategic, principal-side role requires 50%+ property-side travel during critical windows and involves building bridges across operations, finance, and design to integrate F&B execution with whole-property objectives.
Required Qualifications
- 12+ years of progressive experience in restaurant or F&B operations, with direct exposure to openings, transitions, and reconcepts
- Direct experience taking F&B restaurant operations from inception through implementation and post-opening refinement
- Thorough understanding of the profit model for restaurant operations and the ability to read, interpret, and challenge restaurant profit and loss statements
- Working knowledge of the operating KPIs that drive restaurant performance (cost of goods, labor, cover counts, average check, and other levers) and how to apply them to drive results
- Consistent track record of operating profitable restaurants over multiple cycles
- Demonstrated experience negotiating with or operating under management agreements, lease structures, or joint venture arrangements
- Track record of hands-on, on-property execution
- Willingness and ability to travel 50%+, including extended periods on-property during opening and transition windows
Desired Qualifications
- Combined culinary and F&B operations background, with both kitchen and front-of-house operational depth
- Experience working on the ownership side of hospitality real estate, or with a multi-property hospitality operator at a corporate level
- Existing relationships within the restaurant operator community
- Experience with brand or concept development and partner selection
- Familiarity with hotel F&B economics and the integration of restaurant outlets within lifestyle hospitality assets
- Experience working with or under hotel management agreements, including coordinating F&B renovations, outlet closures, and reopenings alongside a hotel operating team
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