‘O
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range juice or champagne?’ a Cathay Pacific flight attendant said. She offered Neel drinks on a
tray.
‘Orange juice, please. Too early for champagne,’ Neel said.
I took the same. We sat next to each other in the business-class cabin of the morning flight to
Manila. I was on my first real business trip, travelling to a different country. I looked out of the
window as the plane took off, making Hong Kong’s skyscrapers look like Lego toys down below.
‘So what did you think of El Casa?’ Neel said.
‘Oh, wait,’ I said and opened my laptop bag. I took out the printout of my financial model.
‘Keep this aside for now. Tell me your gut feeling on the business,’ Neel said.
‘My gut feeling?’ I said, surprised. I was just an associate. Why would a partner care about my
gut feeling? Wasn’t it my job to just make the financial model and rattle out the numbers?
‘Yeah, I’d like to know. Do you even like the business?’
I took a few seconds to collect my thoughts before I spoke again. ‘In some ways El Casa is a
rare asset, so quite valuable. In other ways it is a pain, as there are limited buyers for this thing. Also,
I can’t imagine Philippines law being the most investor-friendly,’ I said.
‘Good. I like how you think, in several directions at the same time,’ Neel said.
‘Thanks,’ I said, embarrassed by his praise. I fumbled through my sheets.
‘So what do we do here?’ Neel said.
‘We get a buyer,’ I said.
‘Meaning?’
‘We talk to big hotel chains. This business needs a high-end global brand. Otherwise people
are not going to come,’ I said.
‘Hmmm.. .’ Neel said.
‘I am thinking Aman Resorts, Four Seasons. Something in that category,’ I said.
Neel looked at me. I saw pride in his eyes.
‘You are smart,’ he said.
‘Not really,’ I said, like a stupid fool.
‘What do you mean?’
‘Nothing. Thank you, I meant. Would you like me to show you the financial model?’
‘Sure,’ he said.
Over the next hour I went over the numbers. The company had fifty million dollars worth of
loans. It could probably repay only half. Neel listened with full attention, cross-questioning me
several times.