Interview with Simon Sherwood, Chairman at Elegant Hotels, at the time of a lecture for MBA Luxury Brand Management and MBA Hospitality Management’s students at INSEEC Business School, Bordeaux.
Simon Sherwood, Chairman at Elegant Hotels in Barbados, completed a Master in Business Administration at Harvard Business School. He devoted one day of his precious time to the students in MBA Luxury Brand Management and MBA Hospitality Management.
Elegant Hotels was formed in 1998, bringing together five of the most luxurious and well-known hotels in Barbados. The Elegant Hotels group offers a unique collection of luxury properties and resorts situated in the island of Barbados.
Boosted by an incredible background in the Leisure, Travel and Tourism Industry, Simon Sherwood was warmly greeted by the students. His lecture aimed at training them in different areas in the tourism and hospitality sector so that they could benefit from his own personal experience and knowledge.
1- What is your company’s turnover?
I was CEO of Orient-Express Hotels from 1994-2007. The company’s turnover is about €700 million per annum. I am now Chairman of Elegant hotels that has turnover of about €60M per annum.
2- Why did you accept to teach INSEEC’s students? What does it bring you on both personal and professional points of view?
Paul Dawson, Director of MBA Luxury Brand Management, Food & Wine, is a personal friend and approached me to teach. I enjoy the opportunity to interact with the « next generation » of executives and it is a very enjoyable change from working at the board level with companies.
3- In relation with what you have to handle at work every day, can you give our students two or three advices to succeed in their first executive job?
I think there are a number of things to focus on.
The first is to develop the ability to present themselves and their ideas professionally. I advise taking every opportunity to talk in class and approaching each class as if it were a business meeting. When you are in the real business world, you will need to convince others that you are « right ». However good an idea is, it is worthless unless it is accepted and implemented. Presentation is important!
The second is the need in today’s business world to wrap ideas with « numbers ». You do not need to become an accounting expert but you must be able to clearly explain the financial consequences of your ideas and recommendations. How much is it likely to cost? How much might the benefit be?
The third is to be « passionate » about your ideas. When you approach somebody for a job, you must show some passion. People want to work with people who care!
4- Main difficulties of the job?
The main challenge is my job is to get the best out of my team. Making decisions is relatively easy. Getting the best out of people is harder. I find it very important to take the time to explain what I am thinking to my team and help them understand my recommendations. That way, I can get them on board working with me – much easier than forcing through ideas.
5- Main qualities required for the position?
Vision, passion, a clear mind and the ability to communicate. Some people have the ability to simplify things. Some only manage to make them sound complicated. Those that « simplify » are the ones that succeed as they become leaders – because others can clearly understand and follow.
6- How do you see luxury branding and hospitality industry’s future?
I see a bright future. Obviously times are tough at the moment – but this is the third major downturn that I have seen. It always recovers. In the mean time, companies must concentrate on getting the basics right and not being distracted by short term problems. The best will survive and come out of the recession stronger than ever.
