By Stephen J. Renard
The path to becoming a CEO in the hospitality industry is often glamorized but rarely understood in its entirety. Fulfilling the role of CEO in a major hotel group, especially one that publicly trades, entails sacrifices that extend far beyond the boardroom.
Endless travel, often solitary, disconnects you from the warmth of family life, replacing it with the sterile embrace of hotel suites. The crispness of new sheets and the scent of new paint serve as constant reminders of impermanence, echoing the fleeting moments stolen from your loved ones. Even moments spent with loved ones are often spoiled by constant interruptions and business calls.
You’re always travelling to cities in bumper-to-bumper traffic and attending industry conferences with limited opportunity for candid opinions because you fear that any negative comments could adversely affect the company’s stock prices downward. You’re surrounded by eager-to-impress employees. Even the simplest tasks become magnified as all try to impress you for a potential future promotion, increased salary or bonus. Relaxation becomes a distant luxury, with someone always hovering. Under the relentless scrutiny, your every move is watched beneath the shadow of a spotlight that follows you from place to place.
CEOs are tasked with delivering motivational speeches about the company to employees and potential hires who only seem to show interest when discussions about a potential raise or compensation arise.
It all becomes a tiresome routine. Despite these challenges, whether you claim to do this role out of sheer enjoyment or because someone has to do it in the best interest of the company, I don’t believe you.
As senior colleagues retreat to the embrace of family, the CEO is left on to travel through airport immigration, security and then grappling with the exhaustion of crossing multiple time zones. You struggle to sleep as you ponder company issues or respond to emails. If you’re fortunate, you engage in FaceTime or Zoom calls with your family, friends and team members, all of whom are probably enjoying their favourite TV shows, dining out at a restaurant, experiencing new things and relishing the simple pleasures of life.
Stephen J. Renard is the president and CEO of Renard International Hospitality Search Consultants. He can be reached at steve@renardinternational.com.
The post Fulfilling the role of CEO requires sacrifices appeared first on Hotelier Magazine.