“You’re kidding!” exclaims Cindy Olcott, “at least twenty times a day.” Her days are, “always exciting, unpredictable and diverse, ” she says, serving as President and CEO of Horizon Hotels, Ltd, a company which she co-founded with her father, Mr. Stanley Cox in 1976.
“I like people,” she says. “In the hotel business there is such an opportunity to meet so many different types of people, you just never know. I like the clients, the hotels, all of it.”
Cindy Olcott is one of the few women in the industry who runs an independently owned management company and one of the only women owned hotel businesses certified by the “Women’s Business Enterprise National Council,” as an official “Women’s Business Enterprise.”
Horizon Hotels Limited, is one of the largest hotel management companies in the United States. The company handles all aspects of hotel, conference center and resort management- sales and marketing, food and beverage, accounting/financial reports, human resources, engineering, purchasing and operations for its portfolio of over 30 properties.
According to Stanley E. Cox, Founder and Chairman of Horizon Hotels, Ltd, “I called Cindy, the oldest of my three daughters, who has been following me around for 20 years and told her, ‘I know you will get paid the first week and probably the second week, but the third week I am not sure about, and then asked if she wanted to join me’. She quit her job and joined the company, originally named, Cox Hotel Corporation.”
One of the company’s early projects, which were instrumental in setting the stage for a long term business relationship, was the development of the Arrowwood Conference Center & Hotel in Rye Brook, New York with Citibank. Ms. Olcott was involved on a weekly basis in the pre-opening and design/development stages of the project and continues today to guide the strategic plan for the facility as a member of the Management Oversight Committee that meets monthly.
“It hasn’t been easy to stay independent, but our reputation helped us to do that,” says Olcott. Maintaining their independence over the years has been a source of pride. “Today, it is becoming harder for an independent to compete, with financial institutions forcing you into the flags in order to get financing,” she says.
The company has investments in two of the properties it manages, the Comfort Inn in Kingsport, TN and the Four Points Sheraton at Milwaukee Airport. All other properties are third party management contracts.
Maintaining valuable business relationships is integral to the continued success of Horizon Hotels. Holly L. Nelson, Principal/Senior VP of Tri-Sail Capital Corporation/Bank of America, was the asset manager for a portfolio of 20 hotels managed by Horizon. “Working with Cindy allowed me to effectively do my job!” she says. “She was always professional, accessible and knowledgeable!”
Horizon Hotels is a family business which includes Olcott’s two sisters, brother-in-law, and husband, who began his career in the industry as a chef. They bought their father out during the transition period between 1993-4, but as an active 76 year old, he’s still working in the business, as an employee.
According to Mr. Cox, “By 1978 Cindy had become bookkeeper, secretary and public relations representative. John Lamers handled operations, and I was busy keeping the owners happy in developing new business. Now, Cindy is running the company better than I ever did.”
In 1992, Ms. Olcott was appointed Vice President and Director of Operations & Development and based in Palm Springs, California. In 1994, she returned to the company’s corporate office in New Jersey, serving as Senior Vice President while continuing as Director of West Coast Operations. In 1995, she was appointed President and CEO and has directed the operations of the company system-wide from the corporate office in Eatontown, New Jersey.
“Wilshire Enterprises, Inc.,” according to Sherry Wilzig Izak, Chairman and Chief Executive Officer, “was approached by several management companies to manage the Wilshire Grand Hotel. We chose Horizon Hotels because of the integrity that Cindy and the whole Horizon team brought to the project, and their reputation in the hotel industry.
Cindy’s first step was to identify the parameters set by the ownership. The Horizon team then analyzed the market, identified the target clientele, prepared and implemented a plan to transition the hotel to make it attractive within this market. The team’s creativity, and integrity, made working with them an enjoyable experience; so much so that I soon referred to Horizon as ‘my management company’.”
During her tenure in the industry Olcott has only “occasionally” felt rejected as one of the few women in the board room, and in a position of power, early on, but “never paid attention to it.” “There have been times when they’ve preferred to deal with a man, but, inevitably, it’s dependent upon who you are dealing with. Ultimately, it’s most important to develop a working rapport to achieve the end purpose, that is to do the job well for your clients and for your hotel,” she says.
While being on the cutting edge with technology offerings and spa facilities and keeping up with the competition in these areas is of concern, most important, according to Olcott is, “maintaining the basics.” Service is crucial, as is providing a “sense of place” in the environment where the property is situated. A “heavenly bed,” is still what a customer wants in their guest room, one that’s clean and comfortable,” she says. They have, however, supplied their properties with clock radios that have a plug-in for ipods in their guestrooms to keep their edge with technology amenities.
“I love the hotels, I like to get a “feel” for what’s going on there and there is no better way to do that than to be there, to listen to what the guest is saying, “she says. This hands-on experience is what Olcott has built her reputation on. She works hard at it, loving every minute of the 200 or more days spent on the road.
According to Jeff Heineken, Vice President Sales and Marketing of Horizon, “Cindy has the ability to step back and analyze a situation and make decisions that are in the best interest of our clients. She has an ownership mentality.”
“From a franchisor perspective,” according to Nancy P. Poor, SVP, Cendant Corporation, Cindy is the ideal client: she’s smart and creative; she’s open-minded and inquisitive; she tells you what’s on her mind and she offers constructive suggestions. I don’t know where her energy comes from but she seems to be a bottomless well of ideas and resourceful solutions. Like the Energizer Bunny, she keeps going and going and going. And the best part…she’s fun to work with. ”
Going forward, Olcott plans to re-focus Horizon’s development efforts towards investing in hotels, which would assure more control over their destiny, despite the current short term vision on Wall Street.
