Planning my path toward a career sustainable hotel development.
Hi, I have a goal of going into sustainable development and using environmental design principles to build hotels and commercial buildings with a smaller environmental footprint.
I am a recent grad currently working a front desk job at a hotel and starting to plan my study schedule for the GMAT. I’ve been advised to look into the MRED programs and want to make sure I’m getting good experience to set myself up for the application process as well as building a good background in both hotel operations and development.

What experiences should I be looking out for that will help with getting into MRED programs and what kind of positions will help me best prepare for a future in real estate development?

Thanks in advance!
[{"id": "fcmfdqt", "text": "Learn to speak Spanish or Ukrainian so you can understand the subs and yell at them when they do something wrong.", "replies": [], "depth": 1}, {"id": "fcmkcas", "text": "skip the masters and just change your last name to Patel", "replies": [{"id": "fcnnewg", "text": "LoL", "replies": [], "depth": 2}, {"id": "fdawqlj", "text": "Hos-Patel-ity", "replies": [], "depth": 2}], "depth": 1}, {"id": "fcmwfmz", "text": "You're gonna have a wild time in a few years with hotels. They're red hot right now and with autonomous vehicles around the corner, why would you sleep in poo poo sheets when your car can drive you home? 'Smaller environmental footprint' has larger applications though, so good on you for that.", "replies": [], "depth": 1}, {"id": "fcmyeeb", "text": "Recent grad with what degree? Why are you working front desk instead of applying for development roles? Operations vs dev is wildly different.", "replies": [{"id": "fcwhamr", "text": "Degree was in psychology as that was my initial interest but shifted my senior year of uni. Working front desk because I want to own my own hotel as an active hands-on owner rather than a passive one that just approves finances. In order to be a good owner you need a strong foundation and I guess this is my first brick in that wall but I'm looking for more challenges and a next step that will better prepare me for the development path.", "replies": [{"id": "fcwj9ct", "text": "Respectable but don\u2019t spend more than a couple years in the box. Few months per department should suffice. It\u2019s not rocket science.  Finance component is much more important in today\u2019s world....Unless you are in fact running a motel/hotel with the extended family running the hotel that is.", "replies": [{"id": "fd5yxga", "text": "Expecting to be applying later this year so it would be about 2 years total experience in operations. What are you thoughts of taking an online real estate finance course while getting the ops experience allowing me to do more in a shorter period of time?", "replies": [{"id": "fd5zfcm", "text": "If you sit at the same job for those 2 years your wasting your time. Mix it up and learn every position. Definitely take online real estate finance courses. Cornell has an online program that is fantastic.   DM and we can talk.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fcn7iwn", "text": "First, your experience on the operations side of the hotel will be helpful. I would try to learn as much as possible about every aspect of hotel operations while I was there. \n\nSecond, I\u2019d say an MRED is a great way to get into development. The value of an MRED, and really any degree, is 1) the network, 2) it gives you broad brush understanding of the process, 3) it shows you can be trained. Don\u2019t be fooled into thinking you know anything when you finish your MRED. You don\u2019t know shit but it shows you can be trained. Find an MRED program that has the most valuable network in a market you want to work. \n\nThird, for environmental design, LEED designation is the standard, so I\u2019d look to get certified in that. \n\nFinally, you should know a couple things about hotels and development in general: \n\n1) hotels are the most cyclical real estate category. Development is the most cyclical stage of real estate lifecycle. When the economy slows down (and we\u2019ve been on a 10yr upswing and are due), hotel development will be the first thing to screech to a halt. Then all these guys are going to go into restructuring their existing portfolios or acquisitions. \n\n2) LEED certification is big for office and is usually pushed to a certain extent by the entitling governmental body on new construction  but, unless it\u2019s pushed down by the Flags (i.e. franchisors of hotel brands) then I wouldn\u2019t see a ton of self-imposes initiative on the part of the developer. I don\u2019t know the answer to this question but it\u2019s something you should look into.", "replies": [{"id": "fd5ze9l", "text": "Thank you for the great advice! I definitely see value in the MRED program as facilitator to job opportunities so I guess i\u2019ll need to make sure I\u2019m researching the real estate market around potential schools. As for the LEED certification is this something that i should look into before applying to schools or afterwards so that i am most up to date?\n\nI\u2019m looking to make sure my application and resume are well rounded when December 2020 comes around and i start applying to schools!", "replies": [{"id": "fd64fj0", "text": "I\u2019d look at it at what it takes to get LEED now and time or so you have it in-line with MRED graduation.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fcoe3g3", "text": "Commercial Real Estate broker here who has same goals as you. I would love to link up and bounce ideas. I think you are doing it right, get your MRED and jump into the field. You may not need an MRED, but doesn't hurt to get one\n\nAlso the leaders in Sustainable commercial real estate development seem to be the ones who have done many green projects in Singapore. Check out some of the projects via Google. \n\nYou are heading down a really necessary path, as human development and environment damage go hand in hand...hopefully we will work with many like minded people in the near future, but for now it seems like the path is just beginning to be carved out", "replies": [], "depth": 1}, {"id": "fcoicjx", "text": "What was your undergrad in? \n\nAt the very least, start learning the basics of financial modelling for real estate development through some of those online courses such as REFM, BIWS, and A.CRE. \n\nFor some general info on how to get into MRED programs and general CRE banter, the WSO Real Estate message board has some decent info. Ignore most of the \"prestige posturing\" that goes into the grad school and exit ops talk on there. There are plenty of decent MRED programs throughout the country and way more development shops that most of these people have never heard of and are honestly better to work for.\n\nThe key is to pick the market that youd like to live in most and find the grad schools that the local development shops pull from in the area. Then network your nuts off cause real estate is all about building relationships.", "replies": [], "depth": 1}, {"id": "fconbpz", "text": "For the sustainability angle, you may want to consider doing a certificate in sustainability as well. Harvard Extension has classes for this.  As far as positions, think about the types of skills that developers may need. Marketing and tech skills might help get you in the door.", "replies": [], "depth": 1}]