Vol. 58 Apr 2016 - May 2016 Newsletter

Are you now employed by a Hotel Group that
is being sold or merged?
Do you have a new
CEO on the way? What to do? Read Our opinion!
See you at the ATM in Dubai or in Asia!

What should you do if you are now employed by a company that is being sold or merged? Or do you now have a new CEO joining your organization from outside? (You know who I am talking about, don’t you!) Change is Inevitable and Inevitable is Change… they are one and the same. Historically we all expect to transcend jobs to move up the management hierarchy. It is the nature of the hotel business and is the basis of our hotel philosophy called, the *’Renard Birdcage Effect.’

While a change of CEO, merger or acquisition absolutely provides healthier shareholder value, is this favorable to the members of the company who are its true worth (minus bricks and mortar)? More essentially does change really provide better first rate career opportunities for the employees?

Renard International celebrates our 46th anniversary in 2016. So does anyone else really remember what was the fate of the company employees when Intercontinental Hotels was purchased by the Japanese based Saison Group? How about when Hilton International was sold by TWA Airlines then again sold by Ladbrokes? Or when Westin Hotels was sold to the Aoki family from Brazil? How about what happened to the  loyal employees  when Meridian Hotels was sold by Sir Charles Forte?.... We do!

When asked our views about what to do when your company is under change of ownership or awaiting a new CFO. Our answer is simple first watch who is the new master of the tribe and where they came from. Then evaluate which hospitality tribe or corporation he or she is coming from and try to evaluate whether this is good or not so good for your career. As a matter of standard career planning, remember always keep your resume up to date and formulated in the current resume style **

It is prudent at any time to keep your antenna up for prospects in the geographical region you would like to work in, and for a role you would consider to further your career. Remember the Grass is not always Greener on the Other Side.

When it is unknown whether a new management company or a CEO who arrives from another industry is better for you and your family; the advice is always the same stick around and see! Remember in any takeover or change of masters the more senior you are in the more likely your role will change ,or you will be made redundant. Senior executives are generally terminated if the purchasing company is an established hotel group and does not require duplicate people with the same responsibility. In which case insure you are doing your best in your current engagement in order to maximize your chances of being retained or transferred. If you find you are made redundant anyways insure you are well aware of your contract and the maximum compensation due to you. Know your rights! This is always essential when you resign or are terminated at any time in your career.

Over the years where did some  key personal move to from the sales of our prized Global Hospitality assets? Most found better opportunities. 
Let us start at the beginning….In 1946, InterContinental Hotels & Resorts was started from Pan Am's vision of mass international air travel, with the first hotel opening in Belém, Brazil to accommodate crews and passengers.

The brand was thought up of by United States President Franklin Delano Roosevelt, and Juan Terry Trippe, President of Pan American Airways, at a White House breakfast in 1945. Today, InterContinental Hotels & Resorts operates globally thousands of hotels. When IHG was first sold, I remember we at Renard International placed the son of the founder of Pan American Airways and then InterContinental Hotels Senior VP Eddy Trippe ***. Eddy joined Kurt Ritter then CEO of SAS Hotels as VP of Development. So who knows where anybody will end up?

We always say to those dislodged by ‘change’ eventually you will send a thankyou card to the individual whom terminated you or forced you to resign as you got a far better career opportunity now than when you left there.

* The ‘Renard Birdcage Effect’ refers to when you shake the birdcage and the birds change perches (talent moves from one company to another), however, they are the same birds
** See Renard Newsletter April 2016 www.renardnewsletter.com
*** As a gift for our help, Eddy Trippe gave us a slew of Pan Am coupons, some good for meals when Pan Am flights were delayed. We have been trying to use them for years – no luck so far.

ITINERARY


Dubai

23 – 28 April
Mingle with the Moose Cocktail Party – Capital Club Tuesday April 26th @ 7:00 pm - all of our friends are invited!

Singapore

29 April – 03 May  (Tel: 65 90530119)

Hanoi

03 May – 04 May

Hong Kong

05 May – 06 May

Shanghai

07 May – 09 May

Canadian Mobile: (1) 416 890 0903

At Renard, customer service is not a "Department" it's an "Attitude"!

Sincerely,
Stephen J. Renard 
President

RENARD INTERNATIONAL HOSPITALITY SEARCH CONSULTANTS 
121 Richmond Street West, Suite 500 
Toronto, Ontario, Canada, M5H 2K1 
Tel: (1) 416 364 8325, ext. 228
Mobile: (1) 416 890 0903 
Fax: (1) 416 364 4924 
Email: Steve@renardinternational.com 
Web site: www.renardinternational.com   www.renardglobalmanagement.com



 

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