2019-10-01 Robb Report

(John Hannent) #1
The Business

174 OCTOBER 2019


WILLIAM FURNISS

got into sailing, and I never looked back.”
The couple waited to make it a regular
part of their lives until both of their
sons (now 12 and 15) could swim. Five
years ago, when the younger one started
swimming, they bought the Oyster 885
sailing yacht Lush.
Hadida has turned his passion for
sailing into a business venture and
acknowledges that some people say that
isn’t a good idea. “But I’m doing it, and
so far, everything I’ve done has worked.
There’s no question that we’re achieving
what we want to achieve. And by this
time next year, we will be well into the
land of profitability.”
The next step in Hadida’s plan of
attack is marketing, which he says the
company has essentially ignored over
the past five years. “Marketing is what
gets us the leads, which then convert
into sales,” he says. He envisions opening
a brick-and-mortar shop and an online
configurator clients can use to design
their boats. Oyster has resumed flying
its banners at the high-profile boat
shows as well, displaying a new Oyster
675 at September’s Cannes Yachting
Festival and the freshly refit Lush at the
Monaco show. Plus, the company will
continue to host its biennial World Rally,
which circumnavigates the globe over a
two-year period, and two annual Oyster
Regattas. “When you look at the last
half-dozen boats we’ve sold, everyone
is from a different country—Japan,
Brazil, Germany. So our customers are
everywhere in the world. We have
to get the name, the brand, out there to
every country.”
The next World Rally is scheduled to
set sail from Antigua in January 2022 and
head west, ultimately finishing back in
Antigua in April 2023. The rally is a non-
competitive circumnavigation that takes
advantage of the best sailing grounds
and is open to Oyster yacht owners,
with professional shore support at key
stopover points and help getting through
the Panama Canal.
Looking ahead, Hadida says that
society’s growing concerns about
climate change are on Oyster’s side.
“The young people of today are so much
more educated in all things green
and environmentally powerful,” Hadida
says. “My firm belief is that it’s going
to be less and less acceptable to
drive into a beautiful bay in a large,
noisy motor yacht. I think we
will revert back to the oldest form of
transportation—sailing.”
Any regrets about buying the
company? “Not for one second,” Hadida
says. “I feel proud. I feel excited. It’s a
totally different thing [from Evolution
Gaming]. It’s a labor of love.”

No detail is too small for Sonia Cheng to consider when it comes
to personalizing the properties in her Rosewood Hotel Group.
That goes especially for the new Rosewood Hong Kong, which
the 38-year-old CEO opened earlier this year in her hometown
on the waterfront property that her grandfather first
developed more than four decades ago. “I know exactly what
is lacking in the hotel market here and what Hong Kong
people would want to see,” says Cheng, sitting in the hotel’s
commodious bridal suite inspired by her own search for
wedding venues. “Every Rosewood property has an individuality
where it celebrates the local culture.” The Harvard-educated
entrepreneur worked in investment banking and private equity
before taking the helm of her family’s Rosewood brand in 2011
and leading its expansion. Now overseeing a portfolio of 67
properties globally and a brood of four young children at home,
Cheng appears to be juggling it all. HILARIE M. SHEETS

What’s the biggest challenge
of running a company?
Hiring and developing the
right people. It’s a people
business. So, managing
different personalities,
different backgrounds,
different skill sets, being
able to identify the
strengths and weaknesses:
It’s crucial for the business.

What do you look for in an
employee?
Passion, humility and
being collaborative.

What’s the best business
advice you were given?
My father and my
grandfather gave me lots
of advice. My father always
emphasized that people
will make your business
successful. My grandfather
was a very humble man
even though he was so
successful. That was also
how he built a really great
loyal team that helped
build his empire.

What’s the first thing you do
when you get into the office?
As soon as I arrive, it’s
straight to the emails.

Your biggest pet peeve at work?
Texting on the phone or
when people get distracted
by the phone when we’re in
a meeting.

Your preferred form of
communication?
I’ve been using WhatsApp
a lot. It’s quick and easy
messaging. But email still
works because it gives you
time to think before
responding. Sometimes
with WhatsApp, because
you know people are
waiting for your reply, you
can be too hasty. In the end,
an in-person meeting is best
to encourage transparency
and communication.
That’s what holds a culture
together.

What do you do every day to
keep yourself sane?
I try to fit in a workout. I
run on a treadmill at home
or take kickboxing and
circuit training classes near
our office. It’s quite
efficient, like 45 minutes.

What would you tell your
younger self?
When I was younger, I

was even more impatient.
I tended to want to move
things very quickly,
sometimes too quickly.
It’s important to take the
time to really think
through strategies and
decisions. That would be
something I would
advise my younger self.

What’s something that
you would want to improve
in your work life?
Work-life balance. I’m
always trying to find a
good balancing point. It’s
never easy. I think trying
to find time for myself
is important.

Do you believe in to-
do lists?
I do. My list is so long.
It’s never-ending.

How do you cultivate female
leadership in the company?
We don’t actually make an
effort to make sure that
we hire women. We hire
for the skill set rather than
the gender. For some
reason, most of our senior
leadership is female.
It’s just natural.

Out of Office with


SONIA CHENG
CHIEF EXECUTIVE OFFICER,
ROSEWOOD HOTEL GROUP

G2G_Oct_BIZ_OysterYachtsREV.indd 174 9/4/19 10:45 AM

The Business

174 OCTOBER 2019


WILLIAM FURNISS

got into sailing, and I never looked back.”
The couple waited to make it a regular
part of their lives until both of their
sons (now 12 and 15) could swim. Five
years ago, when the younger one started
swimming, they bought the Oyster 885
sailing yacht Lush.
Hadida has turned his passion for
sailing into a business venture and
acknowledges that some people say that
isn’t a good idea. “But I’m doing it, and
so far, everything I’ve done has worked.
There’s no question that we’re achieving
what we want to achieve. And by this
time next year, we will be well into the
land of profitability.”
The next step in Hadida’s plan of
attack is marketing, which he says the
company has essentially ignored over
the past five years. “Marketing is what
gets us the leads, which then convert
into sales,” he says. He envisions opening
a brick-and-mortar shop and an online
configurator clients can use to design
their boats. Oyster has resumed flying
its banners at the high-profile boat
shows as well, displaying a new Oyster
675 at September’s Cannes Yachting
Festival and the freshly refit Lush at the
Monaco show. Plus, the company will
continue to host its biennial World Rally,
which circumnavigates the globe over a
two-year period, and two annual Oyster
Regattas. “When you look at the last
half-dozen boats we’ve sold, everyone
is from a different country—Japan,
Brazil, Germany. So our customers are
everywhere in the world. We have
to get the name, the brand, out there to
every country.”
The next World Rally is scheduled to
set sail from Antigua in January 2022 and
head west, ultimately finishing back in
Antigua in April 2023. The rally is a non-
competitive circumnavigation that takes
advantage of the best sailing grounds
and is open to Oyster yacht owners,
with professional shore support at key
stopover points and help getting through
the Panama Canal.
Looking ahead, Hadida says that
society’s growing concerns about
climate change are on Oyster’s side.
“The young people of today are so much
more educated in all things green
and environmentally powerful,” Hadida
says. “My firm belief is that it’s going
to be less and less acceptable to
drive into a beautiful bay in a large,
noisy motor yacht. I think we
will revert back to the oldest form of
transportation—sailing.”
Any regrets about buying the
company? “Not for one second,” Hadida
says. “I feel proud. I feel excited. It’s a
totally different thing [from Evolution
Gaming]. It’s a labor of love.”

NodetailistoosmallforSoniaChengtoconsiderwhenitcomes
topersonalizingthepropertiesinherRosewoodHotelGroup.
ThatgoesespeciallyforthenewRosewoodHongKong,which
the38-year-oldCEOopenedearlierthisyearinherhometown
onthewaterfrontpropertythathergrandfatherfirst
developedmorethanfourdecadesago.“Iknowexactlywhat
islackinginthehotelmarkethereandwhatHongKong
peoplewouldwanttosee,”saysCheng,sittinginthehotel’s
commodiousbridalsuiteinspiredbyherownsearchfor
weddingvenues.“EveryRosewoodpropertyhasanindividuality
whereitcelebratesthelocalculture.”TheHarvard-educated
entrepreneurworkedininvestmentbankingandprivateequity
beforetakingthehelmofherfamily’sRosewoodbrandin 2011
andleadingitsexpansion.Nowoverseeingaportfolioof 67
propertiesgloballyandabroodoffouryoungchildrenathome,
Chengappearstobejugglingitall.HILARIEM.SHEETS

What’sthebiggestchallenge
ofrunningacompany?
Hiringanddevelopingthe
rightpeople.It’sapeople
business.So,managing
differentpersonalities,
differentbackgrounds,
differentskillsets,being
abletoidentifythe
strengthsandweaknesses:
It’scrucialforthebusiness.

Whatdoyoulookforinan
employee?
Passion,humilityand
beingcollaborative.

What’sthebestbusiness
adviceyouweregiven?
Myfatherandmy
grandfathergavemelots
ofadvice.Myfatheralways
emphasizedthatpeople
willmakeyourbusiness
successful.Mygrandfather
wasaveryhumbleman
eventhoughhewasso
successful.Thatwasalso
howhebuiltareallygreat
loyalteamthathelped
buildhisempire.

What’sthefirstthingyoudo
whenyougetintotheoffice?
AssoonasIarrive,it’s
straighttotheemails.

Yourbiggestpetpeeveatwork?
Textingonthephoneor
whenpeoplegetdistracted
bythephonewhenwe’rein
ameeting.

Yourpreferredformof
communication?
I’vebeenusingWhatsApp
alot.It’squickandeasy
messaging.Butemailstill
worksbecauseitgivesyou
timetothinkbefore
responding.Sometimes
withWhatsApp,because
youknowpeopleare
waitingforyourreply,you
canbetoohasty.Intheend,
anin-personmeetingisbest
toencouragetransparency
andcommunication.
That’swhatholdsaculture
together.

Whatdoyoudoeverydayto
keepyourselfsane?
Itrytofitinaworkout.I
runonatreadmillathome
ortakekickboxingand
circuittrainingclassesnear
ouroffice.It’squite
efficient,like 45 minutes.

Whatwouldyoutellyour
youngerself?
WhenIwasyounger,I

wasevenmoreimpatient.
Itendedtowanttomove
thingsveryquickly,
sometimestooquickly.
It’simportanttotakethe
timetoreallythink
throughstrategiesand
decisions.Thatwouldbe
somethingIwould
advisemyyoungerself.

What’ssomethingthat
youwouldwanttoimprove
inyourworklife?
Work-lifebalance.I’m
alwaystryingtofinda
goodbalancingpoint.It’s
nevereasy.Ithinktrying
tofindtimeformyself
isimportant.

Doyoubelieveinto-
dolists?
Ido.Mylistissolong.
It’snever-ending.

Howdoyoucultivatefemale
leadershipinthecompany?
Wedon’tactuallymakean
efforttomakesurethat
wehirewomen.Wehire
fortheskillsetratherthan
thegender.Forsome
reason,mostofoursenior
leadershipisfemale.
It’sjustnatural.

Out of Office with


SONIA CHENG
CHIEF EXECUTIVE OFFICER,
ROSEWOOD HOTEL GROUP
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