PRESS RELEASE – 21c Museum Hotels announced today that Steve Wilson, Chairman and CEO, was named the Ernst & Young Entrepreneur Of The Year® in the Real Estate, Hospitality and Lodging category for the 2011 South Central Ohio & Kentucky awards. This regional award is part of a global program that recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Wilson was one of nine category winners selected from 100 nominees by a panel of independent judges.
“I am honored to be among this group of outstanding finalists,” says Wilson. “To have leaders of the business community appreciate a business that began with an unconventional idea and operates in non-traditional ways is especially gratifying.”
Wilson was recognized in the Real Estate, Hospitality and Lodging category for the growth of the 21c Museum Hotel and Proof brands. Wilson’s achievements are most notable when it comes to the financial and critical success of 21c Museum Hotel. His efforts have created a hotel that leads the market in terms of both occupancy and average daily rate (ADR). In 2010 21c’s ADR exceeded the competitive set by approximately 50%; that combined with a 10% occupancy premium, resulted in a 160% RevPAR Index. RevPAR Index uses occupancy and ADR to measure a hotel’s fair market share of their segment’s competitive set. If a hotel is capturing its fair market share, the index will be 100. 21c Museum Hotel also ranked above the industry nationally in both occupancy and ADR. 21c Museum Hotel was also voted the #1 in the U.S. by the readers of Condé Nast Traveler magazine in 2009 and 2010.
Also notable is the expansion of the company. During a time when few hotels are expanding, 21c has thrived. Construction on 21c Cincinnati, Ohio is underway and a property in Bentonville, Arkansas will begin construction later this summer. The company expects to develop 15 properties over the next 10 years.
“I have worked with Steve for 10 years and it has been a fun ride,” says Craig Greenberg, Vice Chairman of 21c Museum Hotels. “No idea is outside of the realm of possibility with Steve. He is fearless in his approach and tackles new projects with unbridled enthusiasm. His often non-traditional approach has proven successful.”
The Ernst & Young Entrepreneur Of The Year Awards Program celebrates its 25th anniversary this year. Past award winners have included Howard Schultz of Starbucks Coffee Company, Arthur M. Blank of AMB Group, LLC (Home Depot, Atlanta Falcons), Pierre Omidyar of eBay, Inc., Ruth Fertel of Ruth’s Chris Steak House, Inc.,
Maxine Clark of Build-a-Bear Workshop, Tom Adams of Rosetta Stone Inc., Matt Szulik of Red Hat, Inc., and last year’s national winner, Howard Lutnick, Chairman and CEO of Cantor Fitzgerald and BGC Capital Partners, Inc. The program has expanded to recognize business leaders in more than 140 cities and more than 50 countries throughout the world. Regional award winners are eligible for consideration for the Entrepreneur Of The Year National Award, which will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011.
About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. For more information about our organization, please visit www.ey.com.
