The Witness Group’s CEO Ohm Patel recently sat down with Hospitality Trendz, a niche magazine specializing in the hospitality industry, to discuss balancing conservative strategy with taking risks and staying just a little on edge.
In addition to a in-house hotel management and a in-house hotel construction development, The Witness Group has now launched an internal hotel investment arm to “attract savvy investors that are looking to get involved in hotel real estate.” “Not a lot of companies offer all three solutions,” Patel says. “We are able to do that and bring more value to our deal, and that is what sets us apart from other companies.”
The Witness Group’s focus is on converting their practice from the entrepreneurial style the management team grew up with to a more sophisticated corporate entity suited to today’s business culture and economy. “We have achieved success through staying conservative,” Patel says. “This is a great time, while the market is strong, to bring in the right talent to make sure we stay ahead of our growth. What we are doing now is investing back into our management, our construction, our investment. We have these three solutions for making sure we are ready for this rapid growth.”
The team seeks out talent who are motivated in terms of long-term growth potential and willing to navigate into new opportunities. “Being uncomfortable and being OK with that” is also very important. “Because,” Patel says, “that’s how you grow and learn. That’s how we have achieved success: by taking risks and being uncomfortable, we were better for it. So I expect the same from my executive level team.”
To read the full article, visit: http://hospitalitytrendz.com/issue5-nov-dec-2017/28/