Special RepoRt : Hotelier of tHe World
Rich a R d Solo monS F i l e
Personal : Married to Karen , three children . The “ black sheep ” of the family as he did not turn out to be an actor or writer like the others .
Hobbies : Mountain biking , skiing , fast cars
The details : With InterContinental Hotels Group ( IHG ) since 1992 , Solomons has been CEO since July 2011 . He previously served as CFO and the head of commercial development . He also served as the interim president of Americas in 2008-2009 and as its finance director since October 2002 . He joined IHG in June 1992 and held a variety of senior finance and operational roles , including COO of the Americas .
Recent milestones : Launched two new brands , Hualuxe and Even , and acquired Kimpton Hotels & Restaurants .
Before IHG : Solomons worked in investment banking for seven years with Hill Samuel Bank , including a two-year stint in New York .
Style : “ My job as CEO is to set the strategy and then get out of the way and let the guys who have way more experience than I do get on with it .”
Perceptions : Very high standards , broad business knowledge , uber-intellegent . " Richard is highly intuitive by nature and has an excellent understanding of people . This is hugely important in our industry and has helped him define IHG ’ s vision and purpose . He understands the importance of taking your people with you ."
realize potential .
That Winning Culture enables him to delegate to his executive committee and senior leadership group . “ My job as CEO is to set the strategy and then get out of the way and let the guys who have way more experience than I do get on with it ,” he explains .
Solomons practices what he preaches . As a boss , he is well liked . He is described as having very high standards and a broad business knowledge , very quick , “ uber-intelligent .”
“ Richard is highly intuitive by nature and has an excellent understanding of people ,” says Patrick Cescau , non-executive chairman of IHG . “ This is hugely important in our industry and has helped him define IHG ’ s vision and purpose . He understands the importance of taking your people with you .”
Solomons won ’ t be drawn on the names of those who were influencers of his style and his career , saying the list is too long and it would be like trying to name your favorite child . He does , however , refer back to Kemmons Wilson . “ I think a lot about him and how the company came to exist . We are here because an individual had this vision of what travelers need ,” Solomons says .
Solomons also learns a lot from members of the IHG Owners ’ Association , which represents around 75 % of IHG hotels worldwide . “ They are very experienced people , steeped in the industry , some third generation ,” he says . “ While they are loyal to our brands , they are constructively critical . Everything we do , we have to justify to a third party – for many of our owners this is their family fortune . It ’ s very stimulating and a big responsibility .”
Kerry Ranson , chairman of the IHG Owners ’ Association and president and COO of Expotel Hospitality Services , Schaumburg , Illinois , has greatly valued his close working relationship with Solomons over the last five years . “ As a business partner he is transparent , he shoots the truth and he listens ,” Ranson says , adding that Solomons is very focused on outcomes , which both sides of the relationship need . “ He has made us better owners by pushing for outcomes and the same way that he pushes us , he obviously pushes his team , too .”
What Ranson also likes about Solomons is that he stands up for what he thinks is right . “ There are times when we don ’ t agree but he doesn ’ t back down and that ’ s something I truly respect ,” he says .
Best job ever Outside work , Solomons tries to be at home on weekends . Unlike many senior hoteliers , he ’ s not a golfer or a wine buff . Having been brought up around cars , he likes design and performance and confesses to enjoying “ a little bit of speed .”
Solomons won ’ t say how many cars he owns but when he can make the time , he races a 1965 Classic BMW at events such as Silverstone Classic in the UK , although he hasn ’ t won a race yet . He owns a “ couple of old race cars ,” including an MGB that once belonged to British motor racing legend Sir Stirling Moss .
After 16 years , four of them at the helm , Solomons ’ enthusiasm for IHG is undimmed and he believes what they do does matter . “ Modern society couldn ’ t operate without hotels ,” he says . “ For me , it is more inspiring than selling soft drinks or being a banker . Our commitment to corporate responsibility is really important . We make a big difference in our neighborhoods , creating thousands of jobs and supporting communities .”
Constant interaction with people is what he loves . “ I can ’ t think of a better chief executive job than the one I have now . I want to leave this business a little bit better than when I found it . This is my chapter of the book . That ’ s how I look at it . I wasn ’ t here before and I will be gone , but the company will stay .”
30 HOTELS November 2015 www . hotelsmag . com