CEOs SPEAK UP – Articles

COVID-19 has drastically altered worldwide market conditions, with many countries on the brink of recession. The International Monetary Fund (IMF) expects the global economy to shrink by 3% this year, which would be the worst decline since the Great Depression of the 1930s10. A Gallup survey acknowledged this harsh reality by noting that 7 in 10 Americans now believe the US economy is either in a recession (40%) or a depression (30%). Additionally, workers’ have increased worries concerning being laid off and reductions in work hours, wages, and benefits — for instance, 27% of U.S. workers worry about being laid off, which is up from 15% in 201912. Moreover, remote workdays have doubled during the pandemic, which can threaten 'real life' office cultures; isolated environments can lower productivity by 17% for those who prefer the 'in-person' working dynamic.

Taking the opportunity to sit down and ‘talk shop’ with Marloes Knippenberg, CEO of Kerten Hospitality, AETHOS explored some key leadership questions. If the hospitality industry is continuously redefining itself, as well as the boundaries of the areas in which it operates, does the same hold true for leaders and their management styles?

A “leap year” happens every four years -- an extra day is added to the calendar to align it with the solar year. And in the span of just four years, it could be said that Preferred Hotels & Resorts has achieved many big leaps due to the strategic and cultural vision of its relatively new CEO, Lindsey Ueberroth. Since joining the company in 2004, Lindsey has helped solidify the position of Preferred Hotels & Resorts as an iconic global hospitality brand, a preferred partner for independent hotels and resorts, and a trusted resource for travellers seeking an authentic, independent luxury hotel experience. Today, Preferred Hotels & Resorts represents more than 650 independent hotels, resorts, residences, and small hotel groups across 85 countries.

It’s no secret that the timeshare industry has witnessed its fair share of change over the last few years, especially with all the consolidation and spin-offs. Just recently, Wyndham Worldwide (NYSE: WYN) announced it will be mirroring the actions of Marriott and Hilton and will be spinning off its vacation ownership division, ultimately resulting in two publicly traded companies.

Industry observers will have noted that restaurant organizations worldwide are facing a more crowded market space. With it comes a plethora of old and new challenges. Those that restaurant entrepreneurs and larger corporations have struggled with for decades, and that will continue to be “hot topics” going forward, include, for example, skill shortage, succession planning and retention as well as fierce competition from the “new kids on the block” (i.e. the up-and-coming and sexy start-up brands). “How do we keep our staff?” and “Who is the person best equipped to handle the expansion plans of our business?” are questions discussed at most senior management meetings.

At last month’s International Hotel Investment Forum/Berlin, the event organisers arranged a panel discussion with four entrepreneurs and (co-)founders of new hotel concepts. The question up for debate: “Where is the innovation?”. [...] I caught up with Dr. Nikolai Jaeger. Nikolai is an entrepreneur and business founder, currently managing MQ Real Estate, a development company which specialises in and builds modular hotels on top of car parks, above parking lots and on top of existing buildings in European cities.

Some atypical brands are both iconic and notable for their nostalgia factor. CEO Bill Simpson is the current steward of a business grounded in one of these rare brands – Hershey. Everyone knows and loves the chocolate, but Bill has worked for approximately 20 years to make Hershey Entertainment & Resorts (HE&R) a premier guest service company wrapped in a timeless destination that provides memories that are just as sweet.

A month has passed since my initial conversation with Pizza Rossa founder and CEO Corrado Accardi. Since then, we have continued our exchange about the fast casual dining industry. Because I was keen to see him in action, Corrado and I met at his restaurant in the City of London and started going through our agenda items, which included, this time around, third-party delivery companies as well as marketing and social media.

Corrado Accardi is one of those London entrepreneurs who took the plunge and who left a corporate career in order to become the founder of Pizza Rossa, a by-the-slice Italian eatery. I was keen to talk to him about entrepreneurship and leadership, financing a start-up and the challenges represented by changes in consumer behaviour as well as his views on industry disruptors – in particular third party delivery companies – and social media.

CEO turnover among the world’s 50 largest hotel firms in 2013 was 10% down from a 2012 figure of 16%. Leaders who took office in 2013 were Sébastien Bazin (Accor), Lee Chee Koon (Ascott), Wolfgang Neumann (Carlson Rezidor), Frank Fiskers (Scandic), and Peter Gowers (Travelodge). New CEO arrivals always tend to prompt speculation from employees, shareholders, analysts, media, and industry colleagues as to the likely performance of the hire and of the hiring organization. Such transition events also give us a chance to take stock, look at the CEO role in the hotel world from a holistic standpoint and explore the profile of these industry titans.

Interviews with seven hospitality company CEOs at the beginning of the worst economic crisis since the Great Depression. These conversations reveal their advice on how to best lead a company through tough times.

Eighteen months of global recession has done nothing to dampen the spirit or enthusiasm of the industry. AETHOS checks in with five hotel company CEOs for their take on the way forward.

The biennial study addresses trends in total compensation for two of the most senior positions in an organization in the US chain restaurant industry.