Hospitality · VP · 15 to 22 years typical
VP of Development — New Properties Salary
Annual base compensation, national and by market, from 257 named sources. Every figure below says where it came from.
| Market | Multiplier | P25 | P50 | P75 | P90 |
|---|---|---|---|---|---|
| New York City, NY | 1.40× | $260,000 | $335,000 | $435,000 | $590,000 |
| San Francisco, CA | 1.30× | $240,000 | $310,000 | $405,000 | $550,000 |
| Boston, MA | 1.25× | $230,000 | $300,000 | $390,000 | $530,000 |
| Palm Beach, FL | 1.25× | $230,000 | $300,000 | $390,000 | $530,000 |
| Miami, FL | 1.23× | $225,000 | $295,000 | $380,000 | $510,000 |
| Los Angeles, CA | 1.20× | $220,000 | $290,000 | $370,000 | $500,000 |
| Washington, DC | 1.20× | $220,000 | $290,000 | $370,000 | $500,000 |
| Seattle, WA | 1.15× | $215,000 | $275,000 | $355,000 | $485,000 |
| Chicago, IL | 1.05× | $195,000 | $250,000 | $325,000 | $440,000 |
| Dallas, TX | 1.00× | $185,000 | $240,000 | $310,000 | $420,000 |
Time to fill 28 weeks for comparable searches, estimated from rouka's benchmark set.
Hotel management companies expanding portfolios, driving demand for corporate-level leadership. Asset-light models increasing need for strong brand, development, and franchise management expertise.
What does a VP of Development — New Properties do?
The VP of Development — New Properties operates within luxury hotels, resorts, private clubs, and hospitality groups, overseeing guest experience, food and beverage operations, and property performance. Professionals in this role typically bring 15 to 22 years of relevant experience. Classified at the VP level, this position draws from a very tight candidate market with an estimated pool of 12-30 qualified professionals, making targeted sourcing and competitive compensation critical for successful placements.
What drives VP of Development — New Properties compensation?
The median (P50) compensation for a VP of Development — New Properties is $240,000, with the 25th to 75th percentile range spanning $185,000 to $310,000. The 52% spread between P25 and P75 reflects significant pay variation driven by property size and star rating, revenue under management, brand affiliation (independent vs. flagged), market tier (gateway city vs. resort), and whether the role carries full P&L responsibility. Demand for this role is trending upward with 7% year-over-year growth, which is putting upward pressure on compensation at all levels.
VP of Development — New Properties career path
Professionals who move into VP of Development — New Properties roles most commonly come from branded luxury hotel operations, food and beverage management, revenue management, or hospitality management programs at top-tier schools. From this position, the typical trajectory leads toward multi-property or regional oversight, VP of operations for hotel groups, or independent resort ownership and advisory roles. The average tenure in this role is approximately 4.5 years, with an annual turnover rate of 10%.
Hiring a VP of Development — New Properties?
A search playbook for this seat: compensation positioning against the band above, the sourcing map, and the interview framework.