VP, F&B Asset Management

AJ Capital Partners; Chicago (IL); Hybrid; USD 170,000 - 220,000; Full time

Benefits offered by this job

Health insurance

Annual bonus

Travel opportunities

Job summary

Adventurous Journeys Capital Partners in Chicago, IL, seeks a Vice President, F&B Asset Management to lead food and beverage across its hospitality portfolio. You will own openings, transitions, reconcepts, and ongoing F&B performance, engaging with third-party operators as ownership’s representative.

You’ll be on-property during openings, transitions, and refinement phases, partnering with senior leadership on capital decisions and brand strategy for AJCP’s lifestyle hotels and outlets.

Qualifications

• 12+ years of progressive experience in restaurant or F&B operations with openings, transitions and reconcepts.
• Direct experience taking F&B concepts from inception to post-opening refinement.
• Strong understanding of restaurant profit models and how to read P&L statements.
• Familiarity with operating KPIs and how they drive restaurant performance.
• Proven track record of hands-on, on-property execution and negotiations with owners or operators.
• Willingness and ability to travel 50%+ including extended on-property stints during openings.

Responsibilities

• Lead openings and transitions for new F&B concepts across the portfolio.
• Manage operator relationships and ensure performance against commitments and budgets.
• Provide reconcept input and oversee closures and reopenings with hotel partners and operators.
• Develop and refine F&B strategy, capitalization plans, and integration with asset management.
• Partner with cross-functional teams to align F&B with whole-property objectives.

Skills

Restaurant operations

Leadership

Negotiation

Travel 50%+

Analytical mindset

Job description

Description

Department: Asset Management

Reports to: SVP, Asset Management

Location: Chicago, IL or Nashville, TN

This role will be performed onsite in the Chicago or Nashville office and requires property-side travel that can exceed 50% during opening and transition windows. Remote work considered for the right candidate outside these markets.

Adventurous Journeys Capital Partners (“AJCP”) is seeking a Vice President, F&B Asset Management to lead food and beverage as a portfolio discipline across its hospitality assets, including operator relationships, opening and transition execution, reconcept oversight, and ongoing F&B performance management across Graduate Hotels, independent properties and joint venture restaurants.

ABOUT AJCP

Adventurous Journeys (“AJCP”) Capital Partners is a vertically integrated real estate investment manager founded in 2008. The firm repositions real estate to build timeless, scalable businesses and brand platforms. We deliver returns on transformative real estate by applying placemaking, inspired design, and hospitality principles to spaces overlooked or undervalued by traditional investment firms. The firm’s current portfolio includes $5.9 billion of assets across 100+ properties and 50+ geographic markets. With a mission to humanize hospitality through handcrafted projects made by people for people, AJCP delivers spaces that evoke emotional connections and become backdrops for enriching life experiences. Our headquarters are in Nashville, with offices in Chicago, London and Miami. For more information on AJCP, please visit www.ajcpt.com.

ABOUT THE ROLE

The Vice President, F&B Asset Management will own food and beverage as a portfolio discipline across AJCP’s hospitality assets. You’ll lead opening and transition execution, reconcept design, and ongoing F&B performance management. You’ll work directly with third-party restaurant operators as a peer counterparty representing ownership interests. AJCP has seven distinct third-party restaurant operating groups, along with outlets run by the properties’ hotel management companies. Expect operator transitions, handoffs, and new relationships as the portfolio evolves.

This is a strategic, principal-side role, close to the operators and the assets. You’ll be on-property during opening windows, transition periods, and post-opening refinement phases. As the portfolio evolves, this role will partner with senior AJCP leadership on F&B-related capital decisions, brand and concept strategy, and the integration of restaurant outlets within our lifestyle hospitality platform.

WHAT YOU WILL DO

Operator & Hotel Manager Relationships

• Serve as ownership’s primary point of contact with restaurant operators across the portfolio.
• Engage hotel management companies as F&B counterparties where outlets are hotel-operated, covering performance oversight, reconcept participation, and interim operating support during transitions.
• Participate in commercial negotiations on lease terms, management agreements, joint venture structures, and operator handoffs.
• Build and maintain operator relationships beyond the current roster to support future portfolio activity.
• Hold operators accountable for opening readiness, performance commitments, and contractual obligations.

Openings & Transitions

• Lead opening execution for new F&B concepts across the portfolio.
• Manage operator transitions. Ensure operators meet critical deadlines. Provide insight on operational efficiencies throughout the transition.
• Provide post-opening refinement and stabilization oversight.

Reconcept & Capital Strategy

• Identify reconcept opportunities and develop investment cases for capital allocation.
• Partner with hotel management companies on F&B renovation and reconcept execution where outlets operate under the hotel management agreement, including scope definition, construction phasing, interim operating plans, staffing ramp, and reopening readiness.
• Review and challenge opening pro formas, reconcept budgets, and transition expense estimates.
• Partner with Investments, Asset Management, and internal design and construction teams on F&B input into acquisitions, dispositions and major capital projects.

Performance Oversight

• Review F&B P&L performance across the portfolio; identify variance drivers and corrective actions.
• Establish F&B benchmarking, KPIs and reporting standards in coordination with Hospitality Finance.
• Partner with operator leadership on performance improvement plans.

Strategic & Cross-Functional

• Develop and maintain AJCP’s F&B strategy framework across brands and concepts.
• Represent F&B in portfolio-level discussions with the senior leadership team.
• Participate in and influence F&B concept direction across the Marine & Lawn Hotel collection, including concept development, outlet positioning and reconcept input, working alongside the brand’s senior leadership. This is consultative influence rather than day-to-day operational oversight.
• Provide F&B input into underwriting and due diligence for prospective acquisitions.
• Partner closely with operations-side Asset Management leadership and build bridges across departments (operations, finance, design, marketing, and external operators) to ensure F&B execution is integrated with whole-property objectives.

Requirements

WHO YOU ARE

AJCP is seeking a hands‑on F&B leader who thrives in a fast‑paced, entrepreneurial environment and is energized by the work of building restaurants. The ideal candidate brings deep operational depth from inside the restaurant industry and the financial fluency to drive profitability. This role also requires the following capabilities:

• Operator‑side credibility: the standing and experience to engage restaurant operators as a peer counterparty representing ownership interests.
• Strong communication, leadership and interpersonal skills, with the ability to build relationships and drive results collaboratively with third‑party operators while holding firm accountability for performance outcomes.
• Bias toward on‑property execution; comfortable spending meaningful time in restaurants and on properties during opening and transition windows.
• Analytical mindset with a desire to use data to drive results.
• Collaborative team player with a professional approach to working across functions and with external partners.
• Entrepreneurial and resourceful; able to operate with ambiguity, build process where none exists and move concepts from idea to execution.

YOUR QUALIFICATIONS

Required

• 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.

Preferred

• 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.

Equal Employment Opportunity:

AJCP is an equal employment opportunity employer and complies with all applicable laws prohibiting discrimination based on an individual’s race, color, religion, religious creed national origin ancestry citizenship physical or mental disability medical condition genetic information marital status reproductive health decision‑making sex gender age sexual orientation veteran and/or military status protected medical leaves domestic violence victim status political affiliation or any other status protected by federal state or local laws. AJCP is dedicated to the fulfillment of this policy in regard to all aspects of employment including but not limited to recruiting hiring placement transfer training promotion rates of pay other compensation termination and all other terms conditions and privileges of employment.

In compliance with local law we are disclosing the compensations or range thereof for roles that will be performed in Illinois Actual salaries may vary based on various factors including but not limited to location experience role and performance The range listed is just one component of AJCP’s total compensation package for employees Pay Range 170,000‑220,000 Other rewards may include annual bonuses In addition we provide a variety of benefits to employees including health insurance coverage life and disability insurance a retirement savings plan paid holidays and paid time off.