Newmark Hotels launches bold global growth strategy as confidence returns to the travel sector
NEWMARK Hotels & Reserves has announced a bold growth strategy for the year ahead – with plans in place for global mergers, acquisitions and expansion. This is in the wake of the company’s decision to adopt a confident and optimistic approach to the travel industry as things slowly start to get back to normal worldwide.
“We took a decision to stop operating in survival mode and to start to thrive – with a mindset and focus on things returning to normal,” says Neil Markovitz, CEO of Newmark. “To use the analogy of falling down a mineshaft in the dark – the hardest part is not knowing when you are going to hit the bottom, and the anxiety and trepidation as you prepare for this. Newmark decided to create our own “bottom of the mineshaft” and have drawn a line, saying that this is where we turn things around and change our mindset to one of opportunity and confidence.”
Newmark is currently working to grow the groups international footprint with Portugal being the stepping stone into Europe. “In addition to growing our geographical presence in Portugal – where we currently manage 15 hotels in partnership with Unlock Boutique Hotels – we plan to pursue opportunities to establish a footprint in Spain as well as France. We are also looking to engage in innovative global collaborations, and align ourselves with like-minded partners. Third party management is also a hugely exciting area that we are pursuing as part of our evolution going forward.”
Markovitz advises that the group has also made several strategic changes within the management structure of the organisation in preparation for the planned growth trajectory and new changes
“It was important that we create a global platform with an overarching view from which to manage international partnerships, mergers and acquisitions. We have therefore “re-shuffled the pack” so to speak, and have appointed Garth Musikanth - who was previously the Managing Director for Newmark - as the Global CFO dealing with capital allocations for mergers and acquisitions, whilst Kirsten Jordan - who was Head of Finance for Newmark - has become the Global Financial Officer for Newmark Africa Finance, reporting to Garth. Albert Venter also joins the team as Africa Group Finance Manager.”
“Mike Vroom, previously the Group Operations Director for Newmark, has been appointed as the Executive Director for Africa and the lead team will report to him. Mike’s role will allow us to move stronger and deeper into the operations side of the business and work towards our skill set – which is the management of 5-star boutique and niche properties, as well as luxury game lodges within Africa.”
“Newmark is excited and proud to be making these appointments, which strengthen our team and allow us to embrace our planned growth strategy with ease. Having come through the “war room” that was Covid-19 and having worked side by side with these individuals I have come to know their strengths and passions and can confidently say that these exceptional team members are well-equipped to help lead Newmark forward on our upward trajectory,” concludes Markovitz. “It is important that we stop using Covid as an excuse for inaction and stop the survivalist revenue management – it is time to return to confidence mode. Post Covid we can now relook the way things are done and make the changes needed to lead Newmark forward successfully and effectively.”