THE LEARNING CURVE
“Well, I will tell you, particularly early on, we made a lot of mistakes and learned from being self-taught,” Isenberg says.
They overcame their biggest shortcoming when they developed a strategic plan with the help of a former Cornell professor. “It was pivotal for us,” he recalls.
Isenberg says several key qualities have served him well on his route to the top:
- “No. 1 is humility. None of us knows everything. Being open to listening and learning along the way is an important piece of the equation.”
- “Love what you do and love who you do it with. If you surround yourself with people who also believe that, it sure helps.”
- “Don’t just pick the project, but pick the partners. Make sure your values and operating and investment philosophies are aligned.”
Would he do anything differently?
“Oh, yeah,” he laughs. “We started with no capital and no game plan, just a couple of guys who said, ‘Let’s start a business.’ So if we had done a better job early on of really seeking more external help and support, it would have been a smart move.”
SACRIFICES ALONG THE WAY
“Early on, it was really consuming,” Isenberg says. “My wife and I have been married 30 years, and she has put up with a lot.
“I remember well when our daughter was 3 years old. My wife met me at the front door one night and said, ‘I love you, and I know you’re working hard and doing all this for the family, but I didn’t sign up to be a single mom.’ It was a wake-up call and I started to get some balance, and I’ve gotten better at it over the years. But, I think when you’re starting a company and you’re young and reaching for the stars, that’s the stuff you do. And with that, there are trade-offs, but we found a way to make it work.”
ALL-AROUND EXPERIENCE
Even though Tina Edmundson had more exposure to hotels growing up than just about any kid, she didn’t lock on to lodging as a career until after her undergraduate accounting studies.
“My mother operates beauty salons in five-star hotels in Mumbai, India, and I was in and out of hotels all my life,” she says. “But I didn’t grow up thinking I wanted to be in hotels—it’s more like I fell into it.
“When I graduated, the question was the same one all young people face: What do I do now?” she says. “Hotels were a space in which I felt comfortable, so I thought—well, I’ll see if I really want to do this.”
She enrolled in the master’s program at the Hilton School of Hotel Management at the University of Houston “to put my toe in the water, if you will.”
The experience solidified her interest in lodging. While pursuing her master’s degree, Edmundson interned at the Four Seasons in downtown Houston. “My first job was as a night auditor,” she recalls. “It wasn’t glamorous, but it was very interesting.”
A chance encounter with a career recruiter from ITT Sheraton in her last days at the Hilton School led her to the company’s master’s internship program. This was in 1990, and soon Barry Sternlicht would lead the acquisition of ITT Sheraton, folding it into his new Starwood portfolio. At Starwood, Edmundson rose through the ranks, including general manager positions, and eventually helped in the creation of the W brand and the repositioning of the St. Regis brand.
In 2008, she made the leap to Marriott International, which was aggressively ramping up its luxury brands—Ritz-Carlton, Ritz-Carlton Reserve, Edition, Bulgari, Autograph Collection, Moxi, and JW Marriott. Marriott now has 450 hotels in this segment.
ON A MISSION
When asked if she ever expected to ascend so far in the corporate hierarchy of the hotel industry, Edmundson is succinct in her answer.
“No, I did not,” she says. “I just didn’t know this [role] existed. What I wanted to do, quite frankly, was run hotels. My plan was to be a general manager and hopefully have some area role where I had multiple hotels.”
The good news in Edmundson’s role as head of luxury and lifestyle brands for Marriott is the size, quality, and scope of the company behind her. More challenging is the public’s perception of Marriott as a serious contender in the luxury space. It’s her job to change that, and she’s appreciative of the many roles and duties that got her there.
“My mission is to put Marriott International front and center in the lifestyle space. It’s a huge portfolio … but I’m not sure we get credit for it. So, we need to drive awareness for each of those brands within that portfolio, as well as the portfolio in general.
“So what about my experience prepared me for this?” Edmundson reflects. “I’ve been lucky in that I have a varied background.
“One thing I say to young people on my team is: If you’re going to be in this business, then it is really important that you run a hotel,” she continues. “If your career ambitions are to have a big job in a corporate environment, you have to understand the business you are in. That means being responsible for the P&L for a hotel, and I’ve done that. Then, I think my experience in sales, revenue management, and brand management helped a lot at Starwood, particularly in the luxury and lifestyle space.”
For those graduating from hotel school, Edmundson believes it’s crucial for them to remain open to trying a variety of experiences. “Just because you are great in the F&B area doesn’t mean you shouldn’t try sales,” she says. “Exposure is the name of the game.”
STRIVING FOR BALANCE
Edmundson found the strain between work and family the toughest earlier in her career. She eventually achieved balance between the two, though she wishes that had happened quicker. “It’s particularly stressful in the younger years, when your kids are young and they need you,” she says. “You feel torn about not being a good mom and not knowing if you’re doing a good job at work—the normal emotions.
“Everyone has to find a place of peace,” she says, “and I am now at peace with the balance between work and home. It’s different for everyone, and you can’t dictate what it is. It takes a while, but once you are there, you’re much happier about it.”
