Ted Teng Email & Phone Number

Texas, United States

Ithaca, Ny, Us

Global Alumni Organization of the Cornell Hotel School.

Ithaca, Ny, Us

Global Alumni Organization of the Cornell Hotel School.

Ithaca, Ny, Us

Global alumni organization of the Cornell Hotel School

New York, Ny, Us

I am responsible for overseeing the activities and operations of the company’s 26 worldwide offices. I lead the development of the strategic business plan of the brand, as well as the direction and administration of the programs and services it provides to its more than 430 hotel members. In addition to prioritizing business opportunities and maximizing resources, I direct the long- and short-term operational effectiveness of the organization, while promoting its mission and core values of excellence.For the first five years, I was executing on the Five Year Business Plan (2009-2013) I created for the company. The plan focuses on the quality of the portfolio/brand, revenue generations to our hotels, and reinvestment in the company’s capabilities. We achieved the aggressive goals set forth in the plan, including ranking in the top three position in quality from eleventh place and doubled the global luxury RevPAR growth rate to our member hotels for the ten year period (8.4% vs 3.9% CARG) on a same store sales basis. This was accomplished with an organizational and cultural transformation. Largely the same team members are creating extraordinary results by doing different things and doing things differently. I then led the company through a strategic reinvention of our business model by redefining our targeted customers, customer acquisition strategy, customer journey, value proposition, operating model and technology investment. See my article: https://www.linkedin.com/pulse/four-steps-toward-improved-value-proposition-leading-hotels-ted-teng/

The company was founded to invest in and operate hotels and other related projects under an innovative business model. The model redefines the conventional thinking as it relates to real estate, facilities, distribution, and overhead in the upscale hotel market. Prime Opus was committed to creative business models that enrich the lives of all the people of the business: customers, employees, suppliers, and investors.

Ithaca, Ny, Us

I served as the Executive in Residence at the Cornell Hotel School for the Spring 2006 semester. In this role, I guest lectured in various courses such as Asset Management, Managerial Accounting, Organizational Development, Multinational Finance, Strategies in Hospitality Industry, Cross Cultural Communications, Distribution in Hospitality, Strategic Management, and Development. I also worked with faculty members on research and projects. I held forums and roundtable discussions with students on industry topics and career development. I also coached students individually. I brought my insights and knowledge of the global hospitality industry experience to the Hotel School that integrates academic theories with practical business applications.

Us

I led the operations and was accountable for the profitability of the company’s Wyndham branded and non-proprietary branded assets. This included development of overall revenue and profitability strategies, brand standards, and service. With $2.5 billion in annual revenue, Wyndham’s portfolio included more than 200 owned, leased, managed, and franchised properties with more than 55,000 guest rooms. Additionally, I led a variety of corporate functions including Sales & Marketing, Human Resources, Information Technology (IT), Procurement, and Asset Management.

Stamford, Ct, Us

I led the Asia Pacific division of Starwood immediately following the merger of Starwood Lodging, Westin, and Sheraton. My task was to drive development growth and unit profitability in a new multi-branded hotel company that included 70 owned, JV, managed, and franchised hotels and resorts with an annual revenue of $1.5 billion. I also led the divisional support functions of Sales & Marketing, HR, Finance, Development, Technical Services, and IT.New projects included the St. Regis in Shanghai, the first international W in Sydney, the highest quality Four Points Hotel in Sydney, the Sheraton in Sapporo, and the Westin Kyoto.

Bethesda, Maryland, Us

Starwood Capital and Goldman Sachs bought Westin from the Japanese construction company Aoki in late 95. The Asia Pacific division was lagging behind in the Westin transformation. My mission here was to reignite a dormant division of a company with a great brand and world-class assets, where the company in North America was recently energized. I led a small divisional team to achieve development growth by creating purposeful mission, vision, and value commitments. We were able to grow the division with many new flagship hotels including Westins in Sydney, Melbourne, Guam, Kula Lumpur, Awaji Island, Taipei, and Shanghai. Operationally, I worked directly with the general managers of each hotel to improve operating performance. I changed half of the general managers within the first 12 months. While that was necessary for the business objectives, I felt the company’s weak leadership in the past had failed these managers as much as these mangers had failed the company.

Us

I led the operations and development efforts for the North Asia region including China, Japan, Korea, and Taiwan. My group had 10 managed, JV, and franchised hotels with an annual revenue of $500 million. This required a transformation of the post-Tiananmen Square defensive operating strategy of controlling costs to a new Chinese economic reform growth strategy of enhancing the product and driving revenue.On the development side, I successfully negotiated the first ITT Sheraton equity investment in China in a multi-use project that included today’s St. Regis Beijing. I managed and eventually negotiated to regain control and eliminated exclusivity of a JV hotel management company with China International Travel Services and Bank of China. I negotiated and signed 7 new Sheraton Hotels. I negotiated and signed 6 renewals/extensions of existing management contracts and franchised agreements. I developed and put into place a China business plan to grow the Chinese market.

Us

I managed the controllership for this division with 15 hotels located in Hawaii, Japan and California. These hotels generated about $500 million in annual revenue. I worked closely with the divisional president on negotiation of management contracts and franchise agreements. We renewed and extended the single largest multi-hotel management contract in Sheraton history worth about $200 million in fees over the extension period. I also worked closely with marketing and operations on analyzing and developing strategies on distribution channels, pricing, inventory allocations, and promotions of the Sheraton products in Hawaii.

Working closely with the president of Disneyland Hotel, we created an independent regional hotel management company by leveraging the vast management resources we had at the Disneyland Hotel to generate fee income for the company and create more career opportunities for our staff. We were successful in acquiring the management contract for the Los Angeles Biltmore Hotel as our first management contract. The principals of First Boston Group owned the hotel. I conducted my duties concurrently with those of the VP of Finance at the Disneyland Hotel.

I led the financial management of this 1,600-room independently branded convention and urban resort hotel. I worked closely with the corporate office as this was a family closely held publicly traded company. The hotel generated annual revenue of $65 million with extensive meeting and convention space, restaurants and bars, and a variety of income sources. I worked closely with sales and marketing to ensure our revenue generation was well managed to meet financial targets announced to the investment community. I also oversaw the conversion of our PMS, manpower, and back office accounting systems.

Us

I managed the financial operations of this high occupancy (85%+) 800-room airport hotel. My scope of accountability included Accounting, Budgeting and Forecast, F&B Control, Purchasing/Receiving, Night Audit, Payroll, Credit, IS, and Front Office Cashier. I worked closely with the general manager to control costs and drive the profitability of the hotel. I engaged myself extensively in operations and liaised regularly with the owner of the hotel regarding management contract compliance and operating performance reviews.

Us

I managed the financial operations of this 1,200-room convention hotel. My scope of duties included Accounting, Budgeting and Forecast, Payroll, F&B Control, Night Audit, Front Office Cashiers, Credit, IT, and Staffing. I led the automation of the back office accounting system and developed various management reports. The controller of the hotel also handled regional controller responsibilities. I worked closely with operations on all financial matters and regularly reviewed operations to drive business improvements.

Us

I supervised the accounting staff of this 300-room hotel. I came into the position after a period of controller absence. The accounting was in poor conditions and many accounts had to be extensively reconciled and accounting procedures recreated. I personally handled many of the accounting tasks due to staff turnover and vacancies.

Us

I received on the job training in various areas of the controllership at this 1,000-room hotel upon my graduation from Cornell.

Bs, School Of Hotel Administration

Mba, Business Administration