[MUSIC PLAYING]
BOB HARRINGTON: Welcome to the
2020 Distinguished Burtenshaw
Lecture.
My name is Bob Harrington,
and as the director
of the School of Hospitality
Business Management,
it is my pleasure to introduce
our featured speaker today,
and also to provide
a bit of history
about the Burtenshaw
lecture series.
So before doing so,
I'd like to ask,
as a courtesy to our speaker
and everyone else, please
turn off and put away all
your electronic devices,
particularly your cell phones.
So thank you.
As noted in today's program,
the Burtenshaw lecture series
is made possible
through a donation
by Jerry and Angelina
Burtenshaw, which commemorates
their late son, Calvin Brett,
who planned to enter the WSU's
hospitality program
before being involved
in a tragic accident
many years ago.
We have included a
picture of Brett working
as a concessionaire in the
family business in the program,
and it's simply priceless.
Each year since 1981, WSU's
School of Hospitality Business
Management, through the
efforts of the Burtenshaws,
has invited leaders in
the field of hospitality
to visit our campus
and deliver a lecture
to our students, family--
family-- faculty,
and WSU community.
Today's lecture is being
video streamed live online.
And so for Angelina,
who was, unfortunately,
unable to make the trip, and
also those Cougs who may be
joining us via YouTube at
our César Ritz Colleges
in Switzerland, Vancouver,
Everett, Tri-Cities,
the Global Campus,
and beyond, welcome.
And we're glad
you're here, as well.
In addition to supporting the
Burtenshaw lecture series,
the Burtenshaws have been
instrumental in helping
to shape the WSU hospitality
program throughout the years
with their vision, their
leadership efforts,
and through their generous
contributions to the school.
Jerry Burtenshaw is a
prominent and very successful
graduate of our program.
He has received numerous
noteworthy awards and honors,
including WSU's Alumni
Achievement Award,
induction into the
College of Diplomat
of Educational Foundation
of the National Restaurant
Association, being named
Hospitality Man of the Year
by the Washington
Restaurant Association,
being named Dean's Distinguished
Leadership Award by the WSU
Carson College of Business.
And in 2017, he was inducted as
a member of the inaugural class
into the School of Hospitality
Business Management's
hall of fame.
The Burtenshaws are
remarkable individuals,
who turned tremendous personal
loss into the establishment
of this wonderful lecture series
that has impacted students
for nearly four decades.
And so Jerry, please, we'd like
to recognize you and thank you
for your effort and support,
if you'd raise your hand,
or acknowledge Jerry.
[APPLAUSE]
Also in our audience
today are a number
of others that I'd like to
have stand to be recognized.
Our School of Hospitality
Business Management
ambassadors, please stand.
[APPLAUSE]
The officers for our
professional student
organizations, Sigma Iota,
Eta Sigma Delta, PCMA,
and the National Society of
Minorities in Hospitality,
please stand and be recognized.
[APPLAUSE]
Also, the faculty and staff
from the School of Hospitality
Business Management, and
also from the Carson College
of Business.
[APPLAUSE]
And of course, our
very dedicated members
of the School of Hospitality
Business Management Advisory
Board, who are also here.
[APPLAUSE]
So now to introduce
today's guest,
we are thrilled to
have Jan Hazelton
as the featured speaker for
this year's Burtenshaw lecture
series.
She has impeccable
credentials and a wealth
of experiences in the
hospitality field, which
can be reviewed in more detail
in her bio in today's program.
I didn't have a chance to meet
Jan until today, actually,
so I did a little
bit of cyberstalking
to get a feel for who
she is as an individual.
So after reading about her,
one thing that was apparent,
and certainly upon
meeting her today,
was the immediate feeling you
get from being greeted by Jan.
A very warm, reassuring
smile, and her
welcoming personal approach.
And I think this fits well
with the notion of practicing
the art of hospitality, where
it's been said that people
may not remember what you do,
but how you make them feel.
And Jan is certainly
one of those folks
that fits in that mold.
Secondly, in reading about
the Kerzner International,
which is a leading global
developer and operator
of destination resorts,
and Ms. Hazelton
is responsible for two
concepts, Atlantis,
their flagship
entertainment destination
resorts, and their
ultra-luxury One & Only
resorts and private homes.
This involves sourcing the right
location and the right market
and ensuring that the product
fits with the Kerzner criteria.
During her tenure,
these properties
have been recognized by a number
of international organizations.
Everything from
Travel and Leisure,
Conde Nast, US News and
World Report, and many others
recognize them as leading
resorts and travelers' choice.
One thing that jumped
out at me, as well,
was, during an interview about
her role in these brands,
was the description of the
Kerzner International team
as being innovative,
entrepreneurial,
and assuring
exceptional experiences.
And when she was talking about
the notion of experiences
and the notion of
luxury, she touched
on the importance of its subtle
nature, attention to details,
and the intangibles
that make a difference.
And so while Jan is an
internationally seasoned hotel
investment and
development executive,
she is one of those
unique individuals that
understands both the financial
aspects and the intangibles
that impact guests'
quality of life.
So please, give an
enthusiastic Coug
welcome to Ms. Jan Hazelton.
[APPLAUSE]
JAN HAZELTON:
Thank you very much
for that very, very
kind introduction.
I'm sitting in a hotel suite
at the Dorchester Hotel
with Brad Pitt, and
Angelina Jolie walks in.
How did I get here?
[LAUGHTER]
Good afternoon, ladies and
gentlemen, fellow Cougars
and hotel students.
I graduated from hotel
school here back in 1983,
and I am absolutely delighted
and honored to be here today.
Being back on campus is great.
So my journey, it's
been an interesting one,
to say the least.
It's been full of twists
and turns, great moments,
and disappointing moments,
as well, and everything
in between.
So it's been a career
of both choosing my path
and my path choosing me.
So it's interesting,
the journey to Pullman
yesterday was impressive.
I don't remember Alaska Airline
having numerous daily flights
to Pullman.
But I was on an airplane
that held 72 people.
Now, I remember when I was at
Pullman an embarrassing moment
that I had.
I was on a flight flying
from Pullman back to Seattle.
And these planes had
maybe 12, 18 people on it.
So I was chatting with a friend
as I was boarding the plane.
Plane's taxiing
down to turn around
so it can start taking off.
And the next thing I know, the
pilot says, OK, welcome aboard,
we're heading to Spokane today.
And I'm thinking, Spokane?
I'm going to Seattle.
So as one does, or at least you
certainly couldn't do it today,
but you could back then,
you get up, go to the pilot,
part the curtain, tap him on the
shoulder, and say, excuse me,
I'm on the wrong flight.
And he's like, OK, and turns
around and takes the plane
back, and the little steps
come down and I pop off.
Easy.
I'm certain I couldn't
do that today.
However, yesterday's
flight gave me
a little bit of
cause for concern
because, as I was boarding my
flight from Seattle to Pullman,
I looked at the plane.
OK, it had orange
writing on it, OSU logo.
I mean, what's wrong
with this picture?
What's up with that?
Anyway, I thought I was
getting on the wrong flight
to Pullman again.
Anyway, today, as
was mentioned, I'm
the head of development
for Kerzner International,
responsible for Europe
and the Americas.
And so there are
four things that you
need to put into a hotel
to get a deal together,
in a broad capacity.
You need a vision,
you need a brand,
you need capital and a site.
And then you need to
work out the feasibility.
And if you can't make
it work, then the deal
just doesn't get done.
And if you look at my career,
it has a lot of these elements,
too.
So let's start with the vision.
So after high school,
I knew I was going
to attend either WSU or UW.
And I looked at the programs
that each school offered,
and I saw that WSU offered
architectural interior design.
I know I'm here today
talking to hotel students.
However, I thought it was great.
Being an interior
designer was something
that I was aspirationally
seeking, so WSU won out.
However, first year, I kitted
myself out with pens, pencils,
drawing boards, slide
rulers, everything
that you need for your
architecture class,
and early on, I made a
very awkward discovery.
Everyone could draw but me.
So I stuck it out for
a year, but really, it
was obvious that this
was not the path for me.
So it was time to abandon
my aspirations and vision
of becoming an architect
or interior designer,
and I needed to have a rethink.
So I figured business
would be a very good major.
Then I discovered that WSU
offered a hotel and restaurant
administration course, and
who doesn't love hotels?
They're much more interesting
than widgets in the business
world.
So I changed my major
to hotel administration.
Now, I know that
work experience is
very important during
your education.
And so during my
latter years at school,
I got some work
experience, as well.
And I made sure it was
in food and beverage.
So I worked at an establishment
that I'm sure many of you
are familiar with.
And I thought it was an
absolutely brilliant idea
to work at the Coug, because
I would inevitably be spending
my time there, so instead
of spending my money,
I was making money.
I guess it's kind of
like multitasking.
Do what you love,
love what you do.
And I was very happy to visit
the Coug yesterday and see
that it's still in business.
Now, I also had a
summer internship
at Lyons Restaurant,
which was a great training
to become a restaurant manager.
So I spent the summer
working there, weekends,
night shift, and I realized
that it was not for me.
So I got quite a few
lessons early on.
But I think that
one key is that it's
important to give
something a try,
but it's also important to
be honest with yourself,
and if something isn't working,
don't be afraid to change.
That strategy worked out
pretty well for Twitter,
and it hasn't been bad for me.
Another fond memory I
have is my time at WSU
I was involved with
the Sigma Iota club.
And during the last year, I
organized our senior field
trip.
This entailed
planning an itinerary,
getting hotels and
restaurants to provide you
complimentary food and
beverage and hotel stays,
and various other things.
And I think the idea
is that we had a group,
I think it was 12 or 16
students, and we go down
and we visit managements,
talk to them,
see what they had
to say, potentially
maybe getting a job.
But it was good fun.
So we did that, and I believe
that year Dr. Terry Ann
Brighton's family
joined us on the trip.
We had a really successful trip.
We started in Portland
visiting Spaghetti Factory.
And unfortunately, I don't
think Spaghetti Factory
is in business anymore.
That's a disappointment.
But then we stopped in
Napa Valley, as well as
San Francisco at the airport
Hilton, the Saint Francis,
which was a Westin Hotel.
And we came back through
Lake Tahoe, stopped
for a little skiing, which
is a very important part
of hospitality, then last
stop was in Reno with Caesars.
And we tried our hand
at gambling, as well.
So anyway, before we
headed back to Pullman,
I think lost all our money.
And we came back.
It was a great
trip, a good memory.
So when the time arrived and
I had to say goodbye to WSU
and work out what to
do next, the truth
is I didn't have much of a plan.
I wasn't interested in
working for Lyon's Restaurant,
because they had kind
of given me an offer,
so I was really
disappointed to leave school
with not a proper
job offer in hand.
I really loved Westin Hotels.
I just thought,
at the time, they
were a real elegant company,
cutting-edge at the time.
If you know the Seattle
Westin, the two circular towers
were cutting-edge at one time.
And I tried to get onto their
management training program
in Seattle, and I was rejected.
So anyway, left
school without a job.
But there was a suggestion that
the Century Plaza Hotel, which
was another Westin
hotel, might have
an opening in their
management training program.
So as one does after
graduation, I took a road trip
with a girlfriend, and we
ended up in Los Angeles.
So I made sure I brought a
business suit or business
outfit, and I went in and
interviewed with management
at the Century Plaza Hotel.
They said, well, we'll see.
We'll know in a couple months.
So I came back to Seattle, and
I took a job at the front desk
at this lovely
Seattle Westin Hotel.
And a couple months later, I
heard from Century Plaza Hotel,
and I'd been accepted into their
management training program.
So I was very excited.
And LA, here I come.
There's the beautiful
Century Plaza
Hotel, which today looks a
little different than that,
but it was a great first job.
And it was a very exciting
time at that hotel
because it was the center of
all activity in Los Angeles.
They were building a
300-room addition next door
to be the luxury tower.
And also, the Summer Olympics
were held in LA that year,
which created a lot of
excitement, as well.
An interesting
accounting feature
was I was working the night
audit when the Olympics were
on, and the hotel was
completely sold out
for the whole time
of the Olympics.
Big companies would buy
big blocks of rooms,
but not every room
actually was occupied.
Some people didn't
show up, so we
were able to resell
hundreds of rooms.
It was the only
time in my career
I've ever experienced
occupancy of more than 100%.
Then the question
for you accountants
is, do you put that
extra in occupancy
or do you put it in rates?
So I'll let you figure that out.
And the interesting thing about
this hotel, when I was there
and I started my career, they
were building a luxury tower.
Fast forward, I think
it was probably 2006,
and I was in Los Angeles
for a hotel conference
that they held at the
Century Plaza every year.
And I was sitting
out on the terrace,
fondly reflecting back on
my time at the Century Plaza
that was many years
before, and they
were tearing down
the tower that they
were building when I was there.
And all I could
say was like, wow.
My career has outlasted
the useful life of a hotel.
That's pretty impressive.
So the hotel also was a
very, very exciting place
to be because it was the
president's hotel of choice.
And then when I
was there, it was
the time when Ronald Reagan was
running for his re-election.
And so the Century Plaza
was built for security.
They had super VIP areas.
They had special places
on the roof where they
would put their Secret Service.
And the place would be crawling
with Secret Service, White
House press.
It was a very,
very intense time.
And everybody would have to
have security clearance that
was going to be anywhere
near the president's suite
on the top floor.
But there was also the
election night celebration
party at the hotel.
So a fascinating place to be,
and a great source of business.
But it made me realize
that, every time a president
takes a trip, how much of a
burden it is on the taxpayer.
Very expensive.
And there were other
excitements, too.
Not all of them were enjoyable.
So during my management training
program, I was on night audit
from 11:00 PM to 7:00 AM.
And one night, the hotel
was about 65% occupied,
and the fire alarm went off.
OK, no one told me what to do
or what procedures to follow.
I was 22 years old, and I was
the most responsible person
at that hotel.
Wow.
So the phone started
ringing off the hook.
People want to know what to do.
I mean, of course, you're kind
of like, well, leave your room,
because you
certainly didn't want
to say, oh, don't worry about
it, because you didn't know.
So anyway, the meeting planner
happened to be a team leader,
and led everybody from his
floor 20 floors down the stairs
in their pajamas.
And then he, of course,
marched straight up to my desk
and started yelling
at me in his pajamas.
I was like, wow.
I guess I'd be angry,
too, but I realized
that working front desk was kind
of like a glorified complaint
department.
So however, the next day, we
all went through emergency
procedures on what to do.
So hopefully, that will
never happen again.
But you know, so
I figured I don't
know if operations is for me.
Another lesson I'm learning.
But I thought, sales.
Now, that's what I
would really like to do.
I think I'd be good at sales.
Now, I wanted to get a job
in the sales department
at the Century Plaza Hotel.
However, somebody
would have to die
or they'd have to retire
for there to be an opening,
and then if there
was an opening,
you had to have
previous experience.
So you can kind of
see the problem here.
So out of the blue,
I was approached
by [INAUDIBLE] [? Forester ?],,
and they had an opening
for an entry-level consulting
job in Los Angeles.
Entry-level.
That's great.
I was pretty excited about that.
I fit the bill there.
And they do significant
feasibility work
in the industry.
Aha.
Now, let me reflect back to
WSU and my very fond memories
of my favorite course that
I took while I was here.
Except for the wine tasting.
That probably, in
tandem, was a favorite.
But so while I was
pursuing my hotel degree,
my favorite class
was feasibility.
Dr. Umbright taught the course.
And our assignment
and our project
was to prepare a
feasibility report
for a hotel in a
location of our choosing.
Well, I selected my hometown
of Bellevue, Washington,
and I'm quite pleased to say
that I happened to dig this out
while I was home
over the weekend.
This is my report.
And my market was
Bellevue, Washington.
And this is my attempt at
Google Maps 30 years ago.
This is an aerial photo I
took of the site location
I picked out in Bellevue.
My dad was fortunate enough,
he had a pilot's license
at the time, so he took me up to
take some pictures of the site.
So now, I have to just say, my
conclusions on this feasibility
report were, let's see.
"Overall, Bellevue
is a community
of pride and accomplishment.
Even though it is a
fairly young city,
its future looks long,
healthy, and prosperous."
Pretty good, Jan.
Then let's see, the
other conclusion was,
"since the economy is
stable and growing,
and taking into consideration
the great accessibility
to the area, Bellevue
would be able to support
an additional motor
hotel property."
I guess I'm pretty
good at this, aren't I?
So anyway, if we fast
forward to come back
to [? PKF ?] opportunity, I
was very excited about this.
And I joined them, and
I spent the next four
years writing
feasibility reports
in various markets in the US.
And I had started in
California, southern US,
and I had one opportunity
in Austria, a little village
called [? Waidring ?] Austria.
And I mean, a development always
starts with an idea or a dream.
This was a dream.
And a dentist living
in Los Angeles I think
had visited [? Waidring ?] and
wanted to create a hotel there.
So we went and did a
feasibility study for him.
And I can say that the
hotel never got built,
but when you work
in development,
you have to have
a very thick skin
because 90% of what you work
on never comes to fruition.
So my projects ranged from
a Holiday Inn in Barstow,
midway between Los
Angeles and Las Vegas.
And I think, at the time,
Barstow's claim to fame
is it had the largest
McDonald's in the world.
But I think the Holiday Inn
was built, and very successful.
And I also worked
on a luxury hotel
in Beverly Hills, the
Peninsula, which, again,
today has been built
and is very successful.
So I'm going to come back
to feasibility a bit,
but I want to talk a
little bit about brand.
I mean, what is a
brand all about?
And I guess it's how
you feel about a hotel
and how you get treated,
what values are.
And a brand really sets
customers' expectations.
People like to know
what to expect.
So I don't think
I've ever consciously
had a personal brand strategy.
Nowadays, that's kind
of a more obvious thing
to do when you look at the
Instagram sensation or YouTube
blogger.
But during my past, it was
more about simple networking,
and something which I do
think is highly valuable.
And that's public speaking.
Because initially, public
speaking can be very scary,
but you soon realize
that speaking can
be actually kind of good fun.
And over time, I volunteered for
various speaking opportunities,
and then also later helped
to run Urban Land Institute's
Hotel and Resort Council,
as well as I'm currently
running an international
hotel investment council.
And so doing these
type of things
voluntary on your
spare time, which
seems to get limited these days,
is actually really valuable.
It exposes you to a lot
of different people,
a lot of different
things, volunteering
to be on panels,
because when you
do that, when you're
up on a stage,
everybody will know who you are.
And that's great, because then
they think of you a little bit
differently.
And you're no longer
just one of the crowd,
but it provides you confidence.
It helps you speak to
more senior people.
So I recommended everybody
take those hard first steps
and put yourself out
of your comfort zone.
It's a really great thing to do.
I think it's helped my
career develop quite a bit.
So early in my career, I don't
think I did a lot of speaking,
but I did network.
And a broker that I met
during my time at PKF
called me one day and asked
me if he could refer me
to a job at Sheraton Hotels.
I thought, wow, that
sounds interesting.
So one thing led to another,
and I joined Sheraton.
And I had a very specific role.
It was a development analyst for
Sheraton Suites for the Western
US.
And I would be based
in Los Angeles.
And so if many were
going, Sheraton Suites,
I didn't know they did
Sheraton Suites, well,
they kind of didn't.
They tried, but it
didn't go very far.
So anyway, the thing
about this job at Sheraton
is it seemed to
change every year.
And so that's where
I'm going to give you
another little piece of advice.
Working for a large company
can be very advantageous.
So if you're working
for a company
and you're not happy with
who you're working for
or what you're doing,
just wait a year.
Things always change.
I had six different
bosses in seven years
when I worked at Sheraton.
Plus, I relocated five times
within three different cities.
So it helps to be flexible
if you want to advance
your career, as well.
So my time at ITT Sheraton
was very exciting.
ITT was the parent company,
and they were very well
capitalized, and they
spent significant money
expanding the Sheraton brand.
So I started out as
a development analyst
for the West Coast, based in LA.
Then I moved to Seattle
because I got a new boss, who
left after year.
And then I moved to
headquarters in Boston.
And that's where the job started
getting really interesting.
I was at headquarters.
And headquarters
is a great place
to be because you get so much
exposure to what's going on.
You get lots of opportunity.
And then I started
traveling internationally.
I did a few big
projects in Australia.
One was working on a RFP for
a casino license in Melbourne,
and the other was looking for
a hotel in Sydney, Australia.
We had Sheraton
Wentworth at the time,
and we were going to be losing
our management contract.
So the task was let's
find a replacement.
So we spent a couple weeks
in there scouring the market,
finding opportunities to buy
something or a site to develop.
And we ended up
acquiring it's called
the Sheraton on the
Park, or I think
now it's called Sheraton
Grand in the Park Sydney,
or something to that effect.
But it was a real
triumphant project.
I spent a few months going
back and forth to Sydney.
And during the process, we did
the underwriting, negotiating.
I was working with another
gentleman in the company who
was a lawyer.
And it was an office and
a hotel mixed use complex.
So we were getting
ready to close,
and within two weeks of
closing, all of a sudden the CEO
of the company said, well, we
were always planning to finance
this, but we weren't planning
[? to pay ?]...We...We were planning
to pay all cash.
So we thought,
great, this is easy.
The buyer was happy
we're paying all cash.
And two weeks before
closing, the CEO
says, no, we need put
financing on this.
We're like, you've
got to be kidding me.
You don't get
financing in two weeks.
Well, the treasurer of
Sheraton flew down to Sydney,
and we spent night
and day for two weeks
straight pitching and
negotiating with some banks.
And we did succeed in getting
financing for this hotel,
and we closed on time,
which was a landmark.
And it was a
fabulous experience,
and it was kind
of my introduction
into hotel financing a little
bit, which helped me later on.
So I then was offered
the opportunity
to move to Hong
Kong with Sheraton,
and I just didn't want
to move to Hong Kong.
It just didn't resonate with me.
So I ended up moving
back to Boston.
And then, some changes
came relatively quickly.
ITT was splitting into three
publicly traded companies,
and McKinsey, the
big consulting firm,
was brought in to
review the company.
And the word was out that
redundancies were coming.
Well, shockingly,
at 35 years old,
I suddenly found myself
redundant, unemployed,
and looking for a job.
So this is a good time I'm
going to talk about capital.
We'll come back to redundancies.
One job I had, I won't get
into too many specifics,
but 20 years ago,
getting equal pay
as a woman was not automatic.
And I remember one
employer recruiting a man
to do the same job
that I was doing,
that I had been doing
successfully for a few years,
and they were paying
him 20% more than me.
So I fought hard, and
I did get a raise.
However, I still didn't
feel very valued.
So they were pretty mad when
I gave my notice two months
later.
"After all I did for you."
I'm like, well, you know, a
day late, a dollar short, so.
So anyway, back to the capital.
Also, when I was jobless,
I kind of instantly
went to my network, and
started talking to people
and finding out where
opportunities were.
And I did find an
opportunity in Dallas
for a very small
little private equity
company called Circuit Capital.
And here, they worked with a
third-party investor, buying
and selling and asset managing
hotels for this investor.
But unfortunately, within the
first six months I was there,
they were selling
most of their assets
and their primary investor
was losing interest in hotels.
So I kind of saw the
handwriting on the wall,
and knew this would be
a very short-lived job.
Therefore, through my network,
I contacted Olympus Real Estate,
which is a private equity firm
also based in Dallas, as I
had heard they just
raised a new fund
and they had their
own capital to spend.
They weren't dependent
on somebody else.
So I ended up then joining
Olympus Real Estate,
and spent some time there.
And it was where we would
be looking at sourcing,
acquisition opportunities,
doing the underwriting, asset
managing, and
selling the hotels.
That was kind of the
circuit of business
that we would do
when we were there.
And one of the hotels
I was involved with
was the acquisition of the
Copley Plaza in Boston.
It was a beautiful, old,
rundown, ground-down
at the time when we
looked at acquiring it.
And we acquired it
with the business plan
of doing an extensive renovation
and rebranding it a Fairmont
Hotel.
And let me tell you, when you
look at old hotels like this,
they need a lot of capital,
because you start digging in
and you realize there's more
and more things wrong with it.
And part of the problem is
some of the guest sees and some
of it doesn't.
And it's always harder to
spend the money in the areas
where the guest doesn't, but
it still needs to be spent.
So while I enjoyed working at
Olympus and the private equity
and all that exciting
buying and selling,
I didn't really like Dallas.
Just wasn't for me.
So phone happened
during one day,
and it was a
headhunter asking me
if I would be
interested in a position
with a French bank in
their hotel division
in New York City.
Wow.
Really?
Are you kidding me?
New York City?
Who wouldn't want to go there?
So they say that
everybody should
live in New York City at least
once, and I certainly agree.
Now, as a side note,
how did I get this job?
Well, the treasurer of
Sheraton was the one who
referred me to the headhunter.
And remember, she's the one
that I worked with in Sydney
to secure the financing in
a very short period of time.
So again, network
is really important,
and always leave the
company on good terms.
So I spent the next three years
working with Crédit Lyonnais
in New York learning banking.
It was a fabulous experience.
I was a relationship
manager, and was
responsible for
bringing in new clients.
And after the
first year, my boss
inquired if I would be
interested to move to London
because I'd like to start
up a hotel lending practice.
We have our colleagues and
our headquarters in Paris,
and we've got US clients that
are looking to go to London
and start investing
in Europe, so we
think it'd be a
really great thing
to have an office and
expertise in London.
So, well, that was another one
wasn't very hard to consider.
So, London.
Packed my bags, and in 2000,
I moved to London as an expat.
So what does an expat mean?
It's a person living outside
their native country.
And wherever you go in the
world, if you are an expat,
there's always an
expat community
that you can kind of
coddle yourself with,
in addition to immersing
yourself in that local culture.
So now, was I scared?
Was I nervous?
Absolutely.
But I had no idea
what to expect,
what I was getting myself into,
but I was excited and nervous
at the same time.
So I spent three
years in London,
and the first year
was literally just
going out and meeting people
in the industry and companies,
trying to source
business opportunities.
The second year, things were
really starting to click.
I had a few projects that I
was working on and getting
financing, and they were just
kind of in the credit process,
getting approval.
And then, September 11th hit.
And that was a disaster for
the industry, as we all know.
Business dried up, so
my boss in New York
said, Jan, come
back to New York.
I have a safe haven for you,
and you need to leave London.
Well, I loved living in
London, but I did go back,
kind of kicking and
screaming because I really
loved living abroad.
I moved back to New
York, but I continued
to expand my
knowledge in banking,
which was very helpful.
And I, at this point, instead
of bringing in new business,
I was taking over some
of our corporate clients,
like Hilton, Host
Marriott, Hyatt.
So it was exciting times.
And I was a banker for Hilton.
And that was very instrumental
because, as you know,
I was trying for next
four years to find a way
to get back to London.
So over the past 10 years,
I've looked at many projects
around the world, and one
thing I can certainly tell you
about the capital is it's
probably the number one
thing that people lie about.
How much they have, how
much something is worth,
where their money comes
from, you name it.
And they also lie about sites.
People lie about planning,
they lie about funding,
and in some cases, they
lie about whether or not
they actually own the land.
And these are all things
I've experienced firsthand.
So you have to be switched
on, do your research,
and take everything
at face value.
And it's important to
do your due diligence.
Dig in, do your research.
So anyway, getting
back to London.
So in 2005, Hilton
Hotels Corporation,
which was based
in Beverly Hills,
and Hilton International,
which was based in London,
they merged.
And as I was the relationship
banker for Hilton,
I knew some of the
senior management there,
and I planted a
seed and asked them
if there might be an opportunity
in London with the company.
One thing led to
another, and I ended up
joining Hilton Hotels in
London in the development team,
and I had a focus on portfolio
deals and capital partners.
I loved being back in London.
Hilton was a very dynamic
company to work for.
They were bringing
their brands here,
[INAUDIBLE] Hampton,
Garden Inn, Double Tree,
they were bringing
those out to the world,
and so there was tremendous
opportunity in Europe
to set up these brands.
And I spent the first
two years working
on many different
portfolio transactions,
finding opportunities
to acquire portfolios,
or people who were acquiring
portfolios, can we brand them,
and what do we brand them.
And it was a very,
very exciting time.
However, during this
time, Blackstone
ended up acquiring Hilton
and took them private.
And when Blackstone
came in, then
came the financial
crisis of 2007.
Deals stalled,
development stopped.
Everything grounded to a halt.
Lehman Brothers went bust,
and hotel performance
faltered around the world.
OK.
So with Blackstone
as the new owner,
another McKinsey
review comes in.
Great.
Guess what?
Yes, redundancy
program is announced.
And yes, once again,
I made the cut.
That's not a good thing.
And it was in 2009.
And it's like, wow.
Wow.
Things are a bit
different this time.
I'm older, more
experienced, but business
in the hotel investment
world and banking world
absolutely dried up from
the financial crisis.
So by 2009, the recession
was in full force,
and I was made redundant again.
Not really great for your ego.
This time, it was a
bit more difficult
because no one was
hiring, and many companies
were cutting back, laying off.
So I was like, what to do now?
I figured it was pointless
to be going out and knocking
on doors to be hired.
So I was talking with a former
retired banker that I had met
during my time at
Crédit Lyonnais,
and he suggested we team up
and form an advisory company,
and we can market our services
to these banks that have bad
loans.
Now, that sounds
like a good idea.
That seems like certainly
something that would be useful.
And so we did this, and we ended
up establishing a business.
It wasn't easy, but we did.
And we advised some
banks on their bad loans.
We branched out and did some
other consulting projects,
as well.
Now, being a
consultant is great.
You have lots of flexibility.
You can take on a variety
of different projects.
But at the end of
the day, you have
no control over the project.
And that can be a
bit frustrating.
I'll give you an example.
One of the projects I worked on
was with an Italian developer.
And he had plans to develop a
Four Seasons Resort in Sicily.
Now, in particular,
keep in mind,
we were well entrenched
into the financial downturn,
so finding investors was
not going to be easy.
You're probably
wondering why I took this
on in the first place,
but I'll get there.
So particularly, when
you're talking to investors,
you mention Italy, and everybody
gets a little concerned.
When you mention Sicily,
they start looking at you
cross-eyed.
Then when you say that it's
a development project, which
entails even more risk,
they think you're mad.
So, however, there was a
reason I took the project on,
because in certain
markets in Europe,
the European Union
will provide subsidies
to development projects.
And these subsidies
are made in cash,
and they end up making a
project very interesting
because the subsidy for
Sicily, the developer
would get a 50% cash subsidy
with no strings attached,
no repayments.
So if you consider
your investment
analysis and
feasibility, this makes
a project very
attractive, and can really
make your returns sing.
To top that off, the
Italian state bank
would provide a loan for
10 years, interest-free.
The only requirement is
you just amortized it
over that 10 years.
So there was really a great way
of making a project feasible.
And I actually,
after approaching
150 different investors
on this project,
I ended up with six saying,
yes, we're interested,
come back to us as soon as
the EU subsidies are confirmed
and you have your
planning permission.
Well, let's just say
the developer has still
not achieved those
objectives, so that 90% rule.
Another project
I had was working
with an Egyptian investor
that was interested to acquire
distressed assets in Spain.
So they found an asset,
and they approached me
and asked me to do an operator
search, but with the criteria
that the operator had to
bring in equity, about 2
million euros at the time.
About 20% of the project,
or project equity.
So that is not the
easiest thing to do
because hotel brands
typically don't
like to be equity providers.
However, I did find one group
that was very interested.
And they stepped up to the
plate and said, yes, yes, we're
happy to do 2 million,
we can do that.
So I'm with my client.
We fly to Abu Dhabi, where
the brand is located.
And the night before we have
our meeting with the brand,
he tells me, you
know, Jan, I just
don't think this
is going to work.
We need them to provide
50% of the equity,
not just 20, which means instead
of 2, it was like 10 million.
I'm like, seriously?
Anyway, that was a wasted trip.
Embarrassing, and again,
out of my control.
Fortunately, the
brand understood.
So it can be very
frustrating being an advisor.
There are some advisors
in the audience.
They might know that feeling.
Anyway, running your
own business is hard,
but it also can be rewarding.
Another project that we
did is this lovely resort
here is The Belfry.
My partner and I, we sourced
an offmarket transaction
for KSL, which is a private
equity firm based here
in the US that
specializes in resorts.
And they're also very
specialized in golf.
And we knew that they were
interested to come to Europe.
So we knew that the Irish
seller was in trouble,
and contacted them,
put the two together.
One thing came to another,
and KSL is a very happy owner
of this resort.
Repositioned, and
it's doing very well.
And it was a great story for
the [? TJ ?] of the company
because it sort of
eclipsed everything
we did in the past four years.
So made it all worthwhile.
Now, shortly after the
Belfry transaction,
I was approached by the
global head of development
for Four Seasons Hotels.
And it's another thing I have to
thank [? TGA ?] Consulting for,
because even though the
Sicily project never happened,
it did mean that
I spent some time
and got to know the Four Seasons
development team fairly well.
So Four Seasons was in the
process of regionalizing
their development efforts, and
they were looking for somebody
in London.
While I enjoyed the consulting
because you have opportunity
to do many things, I was very
intrigued by the opportunity
to work for a luxury
hotel company such as Four
Seasons, which has
such an amazing image,
and it's a great luxury brand.
And I really, really admire
the founder, Isadore Sharp.
So I don't know, we probably
all are familiar or have learned
about Isadore Sharp, but he
had one rule that he instilled
in all of his people,
which is the golden rule,
and it was his ethos,
and it was very simple,
treat others as you
want to be treated.
And it's simple, very effective.
So I have a lot of time
and respect for that man.
I spent the next three
years at Four Seasons,
immersing myself in
the luxury sector.
I was tasked with adding
to the portfolio in Europe.
And this entailed working
on numerous projects
in many markets, meeting
very interesting owners
and developers, and
working on many RFPs
for amazing opportunities.
During this time period, there
are many government buildings
in Europe, throughout
some of the major capital
areas, that were being sold
or auctioned off or whatever.
They were trying to monetize
because all the governments are
broke.
And so there's some
beautiful buildings
that we worked on
to try to convince
the owners that owned them to
put a Four Seasons in there.
So unfortunately, we
weren't successful,
for a variety of reasons.
And some of those reasons
are that other brands
have a different view of
what makes financial sense
than we do.
But that happens.
But also, might want
to talk about location
here, because early
on, I learned location,
location, location, right?
Location is everything.
However, in luxury hotels,
it's not always the case,
but it isn't far off.
Sometimes, a luxury hotel
will create the destinations.
Four Seasons was very successful
in doing that in Costa Rica.
They were the first luxury
brand to enter that market that
was really a haven
for backpackers
and a very low-rated market.
And they came into that market,
and are very successful.
And today, they have a
beautiful resort hotel
that's getting a rate
of over $1,000 a night.
Another example of
a site defying logic
is the Amangiri in Utah.
It's a very
ultra-luxury small hotel
that's located in the middle of
a desert on a plateau in Utah.
And it's not very
intuitive for a hotel site,
but it's in the midst of a
beautiful natural setting,
and it's been very successful.
However, through
all this, let's not
forget you still
need the capital,
and the feasibility has
to work and investors
need the right return
on their money.
But without the site,
you have nothing.
So there's been multiple
luxury brands all
searching and competing
for unique, extraordinary
opportunities.
So when you're out
there doing development,
you have to put in
a lot of legwork,
you have to have a
great brand behind you
and a clear idea of
what you're looking for,
and be able to recognize
it when you find it.
But there's also challenges
that come with that,
because you can have
the most fantastic site
you've ever seen, with
incredible potential,
but if the money and the
backing from the ownership
comes from a highly
dubious individual
with multiple corruption
charges against them,
then it's never going to work.
So I've had a few experiences
with fantastic projects
that I had to turn down
because the ownership didn't
pass what we call KYC,
or know your client.
Very disappointing,
but anyway, you
move on to the next challenge.
But also, other challenges
are that the property itself
has to work.
The rooms have to be the
right size, and big enough
to deliver your brand promise.
You need to be in
a market that will
support the rate that you need.
And there might be
challenges of labor laws,
and there might be
planning restrictions
on what will make
your project work.
For example, we--
it's a Four Seasons.
We were looking at a
project in Barcelona.
Beautiful city, great
tourist destination.
And we'd been working
with a developer that
had acquired an old
Deutsche Bank building,
and in a perfect location.
You just couldn't get
more A plus location.
And so as we were going through
our agreement, signing LOI,
all of a sudden, new
government comes in,
and they change the
legislation in Barcelona,
and they will not allow any
more new hotel development.
So man who bought the hotel,
or bought the building
with the idea of converting
the hotel was frustrated,
and we were very
frustrated because we
were out of a great
opportunity at that time.
So there's lots
and lots of things
that can come up when you're
working on a hotel transaction.
You can be tripped up by a
legal hurdle at the last minute,
or again, another brand has got
a bigger pocket book and keen
to take market share, so they'll
be willing to pay more than you
for certain items
in your term sheet.
Anyway, don't get me wrong.
I love luxury.
Just don't assume that
traveling around the world
and staying in some
truly fantastic hotels
is not without its challenges.
So during my time
at Four Seasons,
my boss left, the team changed,
the executive management team
changed, and it just
wasn't enjoyable anymore.
So I took the
opportunity to leave,
and I decided I was
going to go back
to consulting, this time
with my own company,
called Three Points Advisory.
The economy was
much more robust,
and I did a number of
interesting projects.
One was finding
an equity investor
for Cycas Hospitality, which
is a third-party management
company.
And that investment helped
propel the company's growth,
and I'm really happy
to say that today,
three years later, the
company's tripled their size
and doing great.
So that's really
satisfying to see.
And I also worked
for Colony Capital,
which is a private equity fund.
And they had a few European
investments in Rome and Madrid
that I was helping them
trying to sort them out.
When I was doing that,
I came onto Kerzner.
So I was very content
kind of doing my own thing
with my consulting, and Kerzner
reached out to me on LinkedIn.
And they were looking to
fill a role of Vice President
of Development for
Europe and the Americas
that would be developing
ultra-luxury brand One & Only
and the famed family
resort Atlantis.
The job sounded
really intriguing,
and I was excited about having
Americas [INAUDIBLE] again,
because I speak the language.
But the best part was that the
company was well capitalized,
and they would invest in their
hotels and their developments,
which is very unusual for a
hotel brand company to do.
So anyway, I've been there
for almost three years now.
And having that capital
behind you really
gives the competitive
advantage, and it's
a big tool chest in which to
use to make your projects work.
So anyway, I love it here,
and it's been fantastic.
We're a small
company, but we have
an extremely talented group
of executives and colleagues.
And so if you ever get the
chance to stay at a One & Only,
I'd highly recommend it.
It's truly an exquisite brand.
Today, we have nine existing
assets around the globe,
and three more that will
be opening this year.
And my job is to make
sure that we continue
to have more in that pipeline.
But today, my job
incorporates everything
that I've done in the past.
So during your
career, you're going
to be building your skills
and knowledge over the years.
And I've been
fortunate to have been
able to work in all aspects of
hotel development investments,
with consulting, working
for a brand and manager,
working for a bank and
lending, and also working
for private equity.
So in these type of
skills, it includes
networking, which I think I've
mentioned quite frequently.
You can never
underestimate your network.
And I would say to you,
look around you today
at your fellow students,
because in 20 years from now,
some of you will be holding
senior positions at hospitality
companies, or
perhaps some of you
will have started your
own innovative company.
So stay in touch.
You never know when you
can use your network.
And feasibility
is another skill.
It's invaluable.
From everything that you
do in hotel investment
and development, it's all about
being feasible financially
and in the market that
you're looking at.
You also need to understand
capital structure,
to understand how debt and
equity capital work together.
And negotiations.
You always have to
be able to negotiate.
And it's not just
negotiating term sheets
or negotiating documents, but
you negotiate with everybody.
I do a lot of
negotiating internally
with my colleagues and
my senior management.
They don't know it, but I do.
And then also, relationship
management is important.
Did that as a lender,
and you're always
cultivating relationships.
And lastly, it's persuasive
speaking and influencing
others is very
important, and learning
how to get buy-in for
some of the things
that you want to
achieve where you are.
So I'm still loving
what I do, and I'm
looking forward to signing many
more deals in the coming years.
Now, a little advice.
Looking back, what advice
can I give all of you?
Well, the first thing I'd say
is that everyone's different,
and we're not all good
at the same thing.
So if something isn't
working for you,
don't be afraid to
try something new.
Don't be afraid of change.
If you don't like a new job,
the city where you live,
you can change it.
You're in control.
And also, think about your
network and your brand.
Speaking, leading some
industry organizations
has been great for
me, and introduced me
to all sorts of people
and opportunities.
The more you do it, the more
comfortable you get with it.
I recommend anybody
to live abroad.
It opens your mind
like nothing else.
So you know, it's good to
have a plan and to have goals,
but life is going to
throw a few curveballs.
I know I've had my fair share.
And these are going to
put you off your stride,
but don't let them defeat you.
Being made redundant was
deflating, especially twice.
Running my own consultancies
was always a challenge,
but it kept me close to
where I wanted to be.
And every so often,
you just end up
at the right place
at the right time.
So to choose, or was I chosen?
Let's take a look here.
Each job, did it choose me?
Well, first of all, I chose
to come to WSU, which I think
was a great choice.
Westin Hotels.
I really wanted to work for
that company, so I chose Westin.
PKF, they approached me.
That was a good opportunity.
Sheraton Hotels, once
again, I was approached.
They chose me.
Circuit Capital, I approached
them, so I chose them.
Six months only, but that's OK.
The next one was
Olympus Real Estate,
and I chose them, as well,
even though it was in Dallas.
The next, Crédit Lyonnais,
which is now called Calyon--
changed their name,
like most companies
do over a long period of time--
the path chose me there.
And Hilton was one that I
was instrumental in choosing.
Taylor Global Advisors I was
instrumental in choosing.
Four Seasons, sort of
the path to me there.
Three Points Advisory I chose,
and Kerzner, they chose me.
So I guess what I'm
trying to point out
here is that you don't have to
have a perfect vision of where
you want to be, because the
path is very changeable and very
flexible.
And it's turned out A-OK for me.
I'm very happy with where I am.
So anyway, let's go
back to the beginning.
How did I get in that
hotel room with Brad Pitt?
Well, at the time, I had
my own consulting company.
And I had a phone call from
one of my many contacts,
who asset manages
a hotel in Paris.
And he said that his
lawyer called him
because he needed some
suggestions for somebody
to work for his client.
His client was a famous American
that owned property in France
that needed some advice.
So I don't know the logic.
I was American and I worked for
a French company at one time,
so he put me together with him.
Go figure, but I
was happy about it.
Didn't know who the
client was at the time,
but I was intrigued.
So the lawyer contacted
me, and finally, I
discovered who the client was.
I was like, wow, this
is pretty exciting.
So one thing led to
another, and I just
was headed to the Dorchester
Hotel to meet Brad Pitt
and talk about his
consulting assignment.
I was a bit nervous, to say the
least, meeting a big celebrity
like that.
But I walked into
the Dorchester Hotel,
and it was amusing because
there was a paparazzi of cameras
all out in front of
the hotel, hoping
to catch a picture of probably
famous people staying there.
I'm sure they knew
Brad was there.
So I had to kind
of laugh to myself
and, gosh, if they only
knew where I was going,
kind of giggle.
So a security guard
greets me, whisks me up
to the suite where
Brad was staying.
Brad graciously
comes out, greets me,
welcomes me into the suite.
We sit down, we're
talking about his project,
and then the door kind of
jingles and Angelina walks him.
And that's how I got there.
So I never in a
million years would
have dreamed that my career path
would lead me to be in a hotel
room with Brad Pitt.
[LAUGHTER]
Anyway, thank you very
much for your time.
I'm happy to take any
questions that you have.
[APPLAUSE]
AUDIENCE: Hi, Jan.
I have a question.
So what was your favorite
development project, and why?
Was it the location,
the people you
worked with, or the
outcome of the property?
JAN HAZELTON: Oh, gosh,
that's a tough one
because there's a lot
of really good projects.
I have to say probably one
of the favorite projects I've
worked on-- again, in that
90% category that didn't come
to fruition-- was
at Four Seasons,
we were vying for the
US embassy project.
And the Qataris had
bought the US embassy
from the American
government, and they
were looking at redeveloping
it into a luxury hotel.
And so we spent significant
time, money, and everything
else on that, and
we had to come up
with renderings and plans
and drawings and everything.
And while it was a
frustrating experience
because we didn't win it,
it was really exciting,
and probably one of my
more favorite projects.
Wish we would've got it,
but it went to Rosewood.
They ended up
paying more for it.
AUDIENCE: Thank you.
AUDIENCE: I can just yell it.
I was just curious, what was
your favorite course that you
took at WSU, or is
there one that you
wish you took more seriously
while you were here?
[LAUGHTER]
JAN HAZELTON: I would
say without question
my favorite course was the
one that Dr. Umbright taught
on the hotel feasibility.
Again, that sort
of really sparked
my interest and kind
of really got me
into the path of development.
Wine tasting came second.
[LAUGHTER]
AUDIENCE: Thank you.
AUDIENCE: I have a question
about your life at WSU,
as well.
I was wondering, what
would you consider
to be your brand while
you were studying at WSU?
JAN HAZELTON: What would I
consider to be my brand when
I was at WSU?
AUDIENCE: Yes.
JAN HAZELTON: Oh, wow.
[LAUGHTER]
I don't think I should say that.
[LAUGHTER]
Devoted Coug employee.
No, I think
enthusiastic hotelier.
And I would recommend getting
involved in Sigma Iota.
It's a great club.
And so getting involved in
that, again, helps your brand
around being a hotel person.
AUDIENCE: Thank you.
AUDIENCE: Hi.
When it came to
dealing with people,
was it easier when you worked
with more recognizable brands
to deal with people, or did
it make any difference to work
with-- when you worked
with-- like when
you were in your own company,
does that make a difference?
JAN HAZELTON: That's
a very good question.
I find that, working
for a big brand,
it's like you have this
security blanket over you.
And you show up, and you have
this flag on your doorstep
or over you.
And everybody knows already the
recognition of that company,
and so they trust it
and they believe in it.
So being your own
brand, one, it helps
to kind of have some sort of
personal brand or recognition
out there, where people have
seen you before in the industry
and they have some
sort of trust that you
know what you're doing.
And so it was hard,
as a consultant,
when people didn't know me,
to get them to trust and buy
into hiring you on to do work.
But the more that you do, and
then you have a reputation
and you've got the good
past experience, it helps.
But getting started isn't easy.
But if you have that big
brand over your doorstep,
it's always helpful.
AUDIENCE: OK.
My question is, I hear what
you say is physical capital.
Do you have any problem
deal with human capital?
JAN HAZELTON: Can you explain
a little bit more what--
AUDIENCE: How you can
deal with your employee
or how you can deal
with your conflict
with your colleague, some
kind of like [INAUDIBLE]..
JAN HAZELTON: How to deal with
conflict with my colleagues?
AUDIENCE: Yes.
JAN HAZELTON: Oh, gosh.
Well, there's been
plenty of years
where you kind of don't
get along with people,
and you find out maybe you
don't get along with your boss
or he doesn't like you.
Wait a year, and it'll change,
if you're with a big company.
That's a really good
question because, you know,
this is life, and
it's not perfect,
and there's always
going to be people
that you don't get along with.
And you have to,
as best you can,
put aside your personal feelings
and be professional about it,
and deal with the people
as a professional.
And go as far as you
can down that route.
And if it still doesn't work,
and you feel that maybe you're
being bullied or being
treated unfairly,
then that's what HR
departments are for,
to help those type
of situations.
And I think today's environment
is getting much better at that,
at helping create fair
work environments,
if that answers your question.
AUDIENCE: Yes.
JAN HAZELTON: Great.
AUDIENCE: Thank you.
Your lecture is
very interesting,
and that is fun and
happy about being here
to have your lecture.
JAN HAZELTON: Thank you.
Thank you.
AUDIENCE: Hi I have a question.
First of all, I want to say
that I really liked your speech.
It's really amazing.
So I was seeing
from the PowerPoint
that we have right here
that you move along.
You have worked with a
lot of employers before.
So I just want to ask a
woman's perspective on the news
that a student is coming
into a new industry.
Do you think when
is the best time
to get to a new journey
with a new employers?
And how can you
make-- can make sure
that it's going to give
you more opportunities
and is the very good decision?
Yeah.
JAN HAZELTON: So
your question-- how--
AUDIENCE: Because I've
seen in your move,
you get to a new company.
So when you get a
new company, how
can you make sure that
it's the perfect time
to get to a new employer?
JAN HAZELTON: Well,
you have no idea.
[LAUGHTER]
No idea.
I mean, the perfect example is
I joined the company Circuit
Capital in Dallas.
And six months later,
I realized, wow,
this is a mistake.
And that's OK.
It's OK because you can change.
You're in control of
if you're not happy
somewhere you can move on.
I like to say I like to
give something a chance.
So give it a year to make sure
that you kind of have given it
a fair assessment.
Again, I stayed at the bank
for, gosh, almost 10 years.
I was at Sheraton
for almost seven.
And it's just new
opportunities come
and you want to take
advantage of them.
And you make that
decision at the time
whether to stay where you are
because you're comfortable
and you like it or you're
interested in branching out
on something else.
And that's a personal
decision that you
need to take for yourself.
AUDIENCE: I actually
have another question.
Because I see that you changed--
you changed your
major two times.
So the first time
is architecture,
and then you
changed to business.
And then you see that
you study business,
and then you realize
business is not for you.
So how can you come
to the decision
to realize that
business is not for you?
Was there any
difficulty or you just
realize you're not fit for it?
JAN HAZELTON: Well, no.
Architecture-- I couldn't draw.
So at that time, it was
before the CAD system,
which if I would have
hung on for a while
I might have been
able to make it.
So that, to me, it was just
a personal, I can't do this.
So I moved on to business.
Business-- I love business.
Hotels are business.
And it was just I thought
the hotel path was much more
interesting than just kind
of plain business, factories,
and that type of
thing that you kind
of study in some of the business
classes or at least we used to.
Business has changed a lot
from when I was in school.
AUDIENCE: [INAUDIBLE]
AUDIENCE: Hi, Jan.
I'm actually a student
from WSU Everett,
and I'm also a Vice President
for Sigma Iota in the Everett
campus.
JAN HAZELTON: Excellent.
AUDIENCE: First
of all, I do want
to say thank you for sharing
your journey with us here.
It's really a motivation
for all of us.
My question for you is
would you any pieces
of advice for our
newly graduated
to have the confidence to
brand themselves to employers,
to reach out and network?
JAN HAZELTON: I just
say don't be afraid.
[LAUGHS] And especially for
women more so than men--
women tend to--
whenever we get
asked a question,
we want to make sure we've got
absolutely the right answer,
we know exactly what
we're talking about
before we spew out our answer.
No offense, men.
[LAUGHTER]
But men blurt it out,
whether it's right or wrong.
[LAUGHTER]
And they say it with confidence.
And everybody goes, yeah.
And you're sitting there
in the audience going, no,
that's not right.
[LAUGHTER]
That's happened to
me many a times.
Women need to learn
to have a voice
and not to be afraid
to have a voice.
And in terms of confidence of
going out-- and just really
rehearse it.
If you're going to call
somebody, rehearse it.
Rehearse what
you're going to say
so you can say it
with confidence
or ask questions
with confidence.
And it's all about practice.
And doing it more often
really helps a lot.
AUDIENCE: Thank you.
And I do have another question.
JAN HAZELTON: Sure.
AUDIENCE: I am an international
student coming from Vietnam.
And speaking for many other
international students,
I know that you have worked
in the international business
before.
Would you advise us
students how to reach out
to [INAUDIBLE]
career opportunity
in a foreign environment
than the United States?
JAN HAZELTON: Yeah.
So this is a where you-- do
you have the ability to get
a work permit here in the US?
AUDIENCE: Yes, we do.
JAN HAZELTON: OK, great.
I think just go-- if you have
an interest in companies,
I would approach them in
any way that you can find.
If you can find any
way to know somebody
inside or know somebody
who knows somebody,
to get an introduction.
Because I think
today, finding a job
is really challenging
because there's
so many-- it's so
competitive out there.
And so to just apply online
through different processes,
I think you want to have
something that you shine above
or some ability for somebody to
pick out your CV over others.
And so it's not just
hitting the send button,
but maybe following
it up with a call
or trying to find
somebody that can give
you an in through networking.
AUDIENCE: OK.
Thank you so much.
AUDIENCE: First of all,
congratulations on the Hall
of Fame induction this year.
JAN HAZELTON: Oh,
thank you very much.
Secondly, I'm actually
surprised nobody asked this.
But what's your favorite
Brad Pitt movie?
[LAUGHTER]
That's a really hard question.
Because when I started
taking on as a client,
I started watching all of them.
[LAUGHTER]
And I was very happy to see that
he of won the Best Supporting
Actor this year.
So he was very funny.
So I don't know if you
saw his acceptance speech.
But at the BAFTAs
he couldn't attend,
so somebody read
out his acceptance.
And, as you know, Britain
just went through Brexit.
Right?
And the letter that they
wrote, he said, hey, Britain.
Congratulations.
I heard you just
became single again.
[LAUGHTER]
And then the end of
the letter, it said,
I'm taking this award home.
I'm going to call it Harry.
[LAUGHTER]
I thought it was hysterical.
[LAUGHS]
AUDIENCE: Hi, Jan.
This is Jenny Kim, one of
the faculty members here.
Actually, one student
asked some questions.
I had two questions in mind.
So being yourself--
I mean, being a woman, and then
you had this long, many year
career.
And was there any
particular advice
you wanted to share
with our students?
I mean, it's very inspiring to
see our own alumni coming back
and share their experiences.
So it was very, very
inspiring, and I
think it is going to be
to a lot of students here.
So do you have all the advice
you already given us to--
what should be doing it,
especially the female students.
The majority of our students
are actually female.
And then, second one is,
given that you had so much--
a lot of work experience, no
one can predict the future.
But can you predict
what's going to happen?
What do you see is coming
in the hotel industry, down
the road in the future?
JAN HAZELTON: Well, first
of all, advice I think--
I tried to interplay some
of that through my talk.
But I would just say you don't
have to have a perfect plan.
I certainly didn't.
And don't be afraid
to change direction.
But I think you just need to
be tenacious and dedicated,
and continue to go after what
you think you want to do.
Or if you find out it's
a different direction,
don't be afraid to change
and go that direction.
And in terms of
the second question
was along today's
hospitality industry.
Well, until this
coronavirus came up,
I would say the
hospitality industry
is growing significantly.
And so you're in a
great spot because there
is such a need for hospitality
management and executives
as we go forward
in the industry.
And if you're
flexible with location
and where you want
to live, the world
can be your oyster if you get in
with a big management company.
Because they all are in
need of a good talent.
And I know that this school
puts out really great talent.
However, let's just hope this
coronavirus thing passes.
Because right now it's
having a pretty severe effect
on the business.
AUDIENCE: Do you think--
I guess my question was, of
course, all these viruses
and natural disasters
can influence
not only hospitality
industries, actually,
many other industries, as well.
JAN HAZELTON: Oh, absolutely.
AUDIENCE: More or
less, [INAUDIBLE]
big trend or any changes you
foresee [INAUDIBLE] industry
[INAUDIBLE].
BOB HARRINGTON: I
think just the trend
is that more and more
people around the world
are being able to
afford to travel.
And so that is just seen--
it's one of the industries
that will, I think,
continue to grow and
expand, and in all segments.
Because there's a lot of
people entering the ability
to go and travel with
low cost carriers,
and so there's a lot
of brands that are low
cost, making it affordable
to go out and see the world.
And then all the way up through
experiential travel and ultra
luxury, at my level--
thank goodness
there's still a lot
of wealthy people
and they keep getting richer.
And they love to have
experiential travel
and do something different.
So I think that's part of
a trend of what we see,
is just everything is
centered around experiences.
And it doesn't have
to be in luxury,
but people want
something different.
They don't want
the cookie cutter.
They're looking for
something unique.
AUDIENCE: Hey, stranger.
JAN HAZELTON: Yeah.
[LAUGHS]
AUDIENCE: What do you
think about the growth
of Airbnb and VRBO?
Because basically,
what I've heard
is that there's more for these--
there's more units
going in to supply
with those sorts of companies
than there is lodging supply.
JAN HAZELTON: You're
absolutely right.
And the question was that what
do I think of Airbnb and VRBO,
and those type of kind
of new disruptors.
And I have two thoughts on that.
And one is that
it definitely has
had an impact on many markets
in terms of the Airbnb supply.
On the other hand, if
we didn't have that,
where would these
people be staying?
Because if you look at New York
City, it's still 80% occupancy.
London's still 80%.
Where would these
people be staying
if they were in an Airbnb?
However, not to discount
the fact that they have--
they do have an effect
on the business.
And they're two very different
prospects, I think, of Airbnb.
I've stayed at a few, and
I'm not really a big fan.
And it's all about what
your purpose of travel is.
You want to be local,
in a neighborhood,
not have people swarming around
you for service, it's fine.
But if you want a
little bit of security
and know that your
Wi-Fi is going
to work in that it's clean,
then hotels kind of win there.
A hard question to
answer there because we
don't know where the future
of that's going to go.
If Airbnb is public and
goes public and successful,
what does that mean?
So it's a hard question,
but it's definitely here
to stay in our industry.
So it's finding a
way to cohabitate,
and making it more
fair playing ground.
Because hotels, they pay--
they have to charge occupancy
tax, and Airbnb doesn't.
And I think that some of
that is coming into play
in certain legislation.
And, in Europe, certain markets
are putting restrictions
on people's ability to
put their homes on Airbnb.
It's more putting
restrictions on people
that are doing it as a business
versus doing it as a way
to supplement your
income and maybe
pay for your vacation,
which is kind
of how I think it all started.
Yes?
AUDIENCE: So I was
wondering what--
if you had any advice on
hotels as a destination
rather than building hotels
around a destination.
Is there anything that
you look for in a location
or market that makes it
particularly suitable?
JAN HAZELTON: And that's a
question that it all depends.
[LAUGHS] But,
speaking from Kerzner,
we absolutely would
look at a location
that becomes a destination
in what we're doing.
We've got a project on a
Greek island called Kea,
and it's not a really
well-known island.
But we believe that
one and only, we'll
put that destination on the map.
We have two hotels
also in Rwanda.
And Rwanda isn't necessarily
a destination that's
on the top of anybody's list.
However, I've gotten
more phone calls
since our hotels have
opened, about people
interested to go there.
And so because we have a luxury
hotel in these destinations,
people will want to
go and check it out.
SPEAKER 1: Thank you, Jan.
I think that's all the
time we have for questions.
JAN HAZELTON: Good.
SPEAKER 1: So Bob has some
parting words for you.
BOB HARRINGTON: I guess I want
to give one last thank you
for Jan for presenting today.
[INAUDIBLE]
And we have a parting give
from the forum, as well.
[APPLAUSE]
JAN HAZELTON: Great.
Sure.
Wait.
Let me-- yeah.
Don't let that-- it
doesn't look to--
[APPLAUSE]
[MUSIC PLAYING]
