Welcome to Fred Cerrone's Blog

Welcome to “Stuff Worth Sharing”! It is our hope that this blog will help you to know more about our President and CEO, Fred Cerrone, as well as gain some insight into his vision and dreams for Hotel Equities. We welcome your feedback as well as any topics that you would like Fred to cover. Thanks for all you do to help make Hotel Equities a success!

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Wednesday, May 15, 2013

Learn to Delegate but Inspect What You Expect

As leaders, one of the most difficult things we must learn is the art of delegation. Leaders have a tendency to want to be in control. We think we know what has to be done and the best way to do it. But we must realize that we cannot do everything ourselves.

If we want to grow and excel, we have to delegate. We cannot advance our team to great heights unless we distribute some of our leadership authority and allow others to assist us with our goals and objectives.
Hotel Equities’ Value Statement #4 provides direction for delegation: Inspect what you expect.
In order to achieve success we must hire associates with a hospitable, positive attitude; provide them with proper tools and training, set clear expectations of the work to be done; inspect what we expect and encourage and reward excellent results.
Using this model, everyone wins -- our associates, our guests and our investors.

Wednesday, May 1, 2013

Number 42’s Message for Leaders


My wife, Christine, and I recently saw the movie “42”. It was great and I highly recommend it to all, even you non-baseball enthusiasts. As you may know, it’s the story of Jackie Robinson’s signing with the Brooklyn Dodgers to become the first African-American player to break the baseball color barrier.

In the movie, set during the 1946 and 1947 seasons, Robinson, number 42, focused on his strengths as a baseball player and not what his detractors were saying about him. In doing so, he won the hearts of many people and eventually his influence helped to break the race barrier for other players, too.

The irony here is that Robinson had a temper and was known to want to fight all who disagreed with his viewpoint. Thank goodness he allowed his baseball skills to do the “talking” and the rest is history.

Jackie Robinson’s story reminds us that, as leaders, we should focus the majority of our time developing our strengths. Tasks which accentuate our weakness can and should be delegated to team members who have the expertise to make all of us look good.

Batter up! 

Tuesday, April 16, 2013

It Ain’t Over, Till It’s Over


From the cover of Sports Illustrated to the sports pages of newspapers, from radio and TV golf analysts to golf fans in office break rooms, the majority predicted Tiger Woods was back. He regained his No. 1 ranking and posted six wins in his last 20 events. He was on track to win his fifth green jacket at The Masters in Augusta. But on Sunday afternoon, April 14, it was not to be. Adam Scott became the first Australian winner of the tournament.
“It ain’t over till it’s over!” – to quote Yogi Berra, the former New York Yankees catcher who had a knack for stating the obvious in a way that made it memorable.
And so it is in the hotel business with Hotel Equities. We don’t assume success; we work to make it happen every day. We start by taking care of our associates, knowing that if we take care of them, they will take care of our guests and our investors will ultimately benefit. We set clear expectations, provide training, inspect what we expect, reward excellence and celebrate success. We keep at it every day in order to exceed the expectations of every guest but ultimately “it ain’t over” until they decide to return.

Monday, April 1, 2013

You Need Persistence to Win


March Madness has dominated the national consciousness of college basketball fans for the past few weeks. I marvel at the lessons one can draw from the games: Cinderella teams put forth extraordinary efforts and surprised us while some former champions disappointed. As a life-long sports fan, I enjoy using sports analogies to teach business principles.

Coming into the tournament, expectations run high. Compare that to the optimism one feels on the first day of a new job, at the start of a new contract, or the opening of a new hotel. In each instance, the team, or the company or the person sets a goal for success. How do they make the goal a reality?

It takes persistence to win the game and persistence to accomplish our goals in business. Just like a top basketball team, the company and its associates have talent, experience and good coaching. But it takes persistence to stick to the plan and reach the goal.

Winston Churchill once called persistence the most important leadership trait. In front of an audience of graduating college seniors, he delivered his commencement address in five words, “Never quit, never ever quit.” It is said that when he left the stage, one could have heard a pin drop. It’s a powerful message for all of us.

Tuesday, March 19, 2013

Are You Making a Difference?

College basketball’s annual March Madness started Sunday with the announcement of the brackets. As a sports fan, I enjoy speculating who will win each bracket. It occurs to me that often the coaches are the real difference-makers.


Personally, my sport was baseball and my little league coach influenced me greatly. First, he took the time to convince me that he cared about me and had my best interest in mind. He built ‘trust’ with me and nurtured me. I credit his words with teaching me the basic skills of the game and his encouragement with giving me the desire to go on to play two years of semi-professional baseball after high school. I realize that he helped me develop a positive attitude and the desire to be a winner.

You and I have that same ability to be a difference-maker in the lives of the people we lead. Our lives are often referred to as a ‘dash’ - the symbol used on our gravestone between the year of birth and the year of death - that will depict our life. Think of it as the time we are alive and able to be influencers. So, let me ask you – who are you influencing? Whose life are you impacting?

Are you making a difference?

Friday, March 1, 2013

The Courage to Lead

During the recent observance of President’s Day, I was reminded of the courage shown by both Lincoln and Washington, two of our country’s greatest leaders. Each of our first two presidents had to take a stand, face opposition and negotiate compromise in order to move the country forward. As leaders, we meet daily challenges and if we are completely honest, face fear.

What is courage?

Courage is not the absence of fear. Courage is doing what you fear to do, in spite of the fear. If we are totally honest with each other, as leaders we often find ourselves making decisions that we think are right, but that we are not completely comfortable with. As leaders, we sometimes experience push-back, criticism, grumbling, and a less than favorable marketplace response to our decisions.

For daily courage, being well-read, having experience, being “prayed-up” and being on a team whose members are supportive of each other, helps our level of confidence.

One other thing that has helped me with my fears is reading a chapter from the book of Proverbs daily. Proverbs, which has 31 chapters, is known as the book of wisdom. I don’t think it is coincidental that the number of chapters matches the number of days in most months. The insights I gain give me food for thought and often the courage I need to lead.

 

 

Friday, February 15, 2013

FACE TO FACE WITH MY TEAM

Hotel Equities recently held a three-day Conference in Chattanooga, Tennessee attended by our Coaches, General Managers, and Directors of Sales. We sometimes question the validity of paying team members to travel off-site for meetings that might be conducted online or via telephone or video conference, but I believe that nothing can substitute for a face-to-face encounter.

Our leadership team and I wanted to bring together the Operations and Sales Teams in their entirety to celebrate our 2012 accomplishments, share best practices, cast a vision for a successful 2013, and perhaps most of all, experience some rare face time.

I am extremely proud of every member of the Hotel Equities’ team!

Participating in the presentation of awards for outstanding performance continues to be a highlight for me.  At the conference, we presented the 4th Quarter GM and Sales Awards, Sales Award of 2012, and 2012 General Manager of the Year.

I like to share the ‘State of the Company’ Report in person, not to take sole credit but to highlight what we as a team have accomplished. This year, we added several outstanding hotels to our portfolio including the Fairfield Inn & Suites Charleston, the first joint venture between Hotel Equities and Atlanta-based private equity firm IRE Capital as Hotel Development Partners (HDP).

Casting the vision for 2013 in front of that live audience of team members allowed me to share goals from my heart. The future looks bright for Hotel Equities. As the economy begins to improve, investors are becoming more willing to contribute to both new development and acquisitions. Our growth potential is exciting!