Michael Dell is best known as the founder of the eponymous computer company , which made him billons off the premise of selling PCs direct to consumers . All his money needed management , a job given to MSD Partners , the New York-based investment company set up in 1998 with the sole purpose of managing Dell ’ s assets . Some of that is real estate ; namely hotels .
In the summer of 2020 , Dell ’ s executive search team was in the last stage of determining if hotelier Daniel Hostettler would be up to the daunting task of leading The Boca Raton , the 950-room property that MSD Partners had acquired the previous year .
At the time , Hostettler was the president of Rhode Island-based Ocean House Management Collection , consisting of Ocean House , one of only four hotels in the U . S . to hold the designation of Triple Five Stars from Forbes Travel Guide , as well as a luxury sister property , Weekapaug Inn . He was also serving as president , North America , of Relais & Châteaux ( of which his own properties were members ).
As a final challenge , MSD handed Hostettler the resort ’ s financials from the previous few years and asked him how he would position the property for better future results .
Talk about being put on the spot . “ I had 45 minutes to make a presentation ,”
Hostettler said . The concept he ultimately proposed was to carve the property up into five separate luxury hotels , each with a distinct personality and its own GM , accepting nothing less than the highest level of guest service across every property .
“ My belief is that the luxury guest isn ' t going to want to go to a 950-room hotel . But they certainly would consider a smaller hotel , even if it ’ s housed within a larger campus ,” he said .
It was a bold strategy for a property that dates back to 1926 . MSD didn ’ t hesitate : They bought into Hostettler ’ s stronger-bydivision concept and gave him the job .
He packed up his sunscreen , bought some bug repellent , got over his Swiss-born
48 hotelsmag . com June 2023