NEW YORK—After more than two decades with Loews Hotels, president and COO Jack Adler has decided to retire from the company and seek opportunities elsewhere in the hotel industry.
The move, which will take place early next year, coincides with Jonathan Tisch’s transition out of the CEO role to focus on his responsibilities as chairman of Loews and co-chairman of the board of Loews Corporation.
Loews Hotels, which has 18 luxury hotels and resorts throughout North America, will soon begin looking for a new president and CEO.
HotelNewsNow.com caught up with 57-year-old Adler last Friday, a day after the announcement, to discuss the highs and lows of the past and the opportunities of the future.
HotelNewsNow.com: Why did you decide to retire from Loews Hotels?
Jack Adler: It’s been a great 23 years with Loews Hotels. The last 10 years I’ve been president, and I became chief operating officer 12 years ago.
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Jack Adler |
Back in 2004/2005, we spent a lot of time evolving our brand and transforming our portfolio to where we are the leading 4-diamond-and-more hotel company in the business. We spent really the last year putting together our strategic growth plan, both internal and external, and after 23 years it was time to retire from Loews. I look forward to new opportunities in the business.
HNN: What are you most proud of during your 23-year career with the company?
Adler: The last 10 years as president, really transforming the portfolio. Back 10 years ago, we had really a collection of hotels—some were 2-star, some were 3-star and some were 4-star. As part of the evolution of the brand and really having the brand stand for a consistent level of service, amenities and product, we went through an entire process to make sure that not only is the physical property offered at 18 Loews hotels is consistent, but the level of service is consistent. We really became customer-centric, and it’s been recognized by J.D. Power (and Associates) and Market Metrix and really recognized in the meetings business. That transformation and that evolution of the brand is what I’m most proud about.
Prior to that, I was head of development. And being in charge of developing Loews Miami Beach (Hotel), our three great properties in Orlando (Florida)—the Loews Portofino Bay (Hotel at Universal Orlando), the Loews Royal Pacific (Resort at Universal Orlando), and the Hard Rock (Hotel at Universal Orlando)—the development and conversion of the Loews Philadelphia (Hotel), which was a public-private partnership with the city of Philadelphia, and acquiring and developing 15 of the 18 properties that now make up Loews Hotels has also been very, very rewarding for me.
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HNN: Looking back, is there anything you wish you would have done differently?
Adler: In the big picture of things, I really don’t think so. Working for Jon for 23 years has just been fantastic. His leadership of the company has just been great. He’s taught me a lot about leadership and business. Interacting with his cousins, both Jim, who’s the CEO of Loews Corporation, as well as Andrew, who with Jon is co-chairman of our parent, that exposure has just been fantastic. I have the honor and pleasure of working with both his dad and his uncle while they were both still here.
I really do look forward to the future. I’ve got experience in development, finance, operations, marketing. Our formula for success has been treating all of our team members with trust and respect. We provide a 4-diamond-and-more employment experience to our team members, who then provide a 4-diamond-and-more guest experience to our guests, which has led to tremendous market share for the company as a whole and for our individual hotels and tremendous profitability. The company is really very well-positioned for the future. We’ve got our growth strategy in place. We’re building up our development and acquisitions team.
I’m very proud of leaving the company in such a great position for my successor to take it and to continue with this great base that we’ve created while I’ve been here.
HNN: How will your departure effect the day-to-day operation of the company?
Adler: I plan on staying here until my successor is in place. For the interim, I’ll be running the company as I have in the past. I am sure, knowing Jon as well as I do, that the culture of the company will remain with my successor. The transition should be as smooth as it possibly can be.
HNN: What’s next for Jack Adler?
Adler: I’m going to take this transition time and talk with a lot of people in the industry and look at the opportunities that exist. As I said, I am very fortunate because I’ve been the chief financial officer here, I’ve headed up development, I’ve been the chief operating officer, I’ve been president. I’ve had the opportunity to be one of the leaders of this company as we’ve gone through this transition over the last seven or eight years, and I’ve got the project management, financial, development experience in my past. I’ll see what’s out there and look forward to exploring opportunities with many others.