Academics
Isadore Sharp: Luxury in Las Vegas
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HEC was honored to welcome keynote speaker Isadore Sharp of Four Seasons Hotels and Resorts, who discussed the brand philosophy which has made Four Seasons the icon of luxury that it is today.
The first Four Seasons opened 48 years ago in Toronto; Sharp confessed that he had no vision or dream for the company and had no idea that it would eventually turn into a world-renowned luxury brand. From the very start, however, Sharp did realize one important thing: the need to deliver to customers what they value the most—time. He understood that good service makes the most of this precious resource, and he used this philosophy to differentiate Four Seasons from other commoditized hotels in the market. Since great service depends on great employees, Sharp took special care to base hiring decisions on attitude (competence, he reasoned, could be taught) and to treat employees as members of an elite team. The corporate culture logically evolved into one which encourages employees to treat others the way that they themselves want to be treated.
Four Seasons has been tied to Las Vegas since the very beginning of its operations: originally, Sharp wanted to name his first hotel The Thunderbird, but alas, this name had already been claimed by a Las Vegas property (fortunately so). Fortunately again, Sharp’s Vegas ties did not end there. He discussed the success of Four Seasons Las Vegas, an oasis that is simultaneously “in the action” of Strip as well as an escape from it. This property helped usher in the city’s shift from a purely-gaming destination to one that also appeals to luxury.
While acknowledging that Four Seasons is faced with challenges as a luxury property operating amidst a financial crisis, he remains optimistic that “the fundamentals of our industry are sound” and that luxury brands such as his will emerge intact from this crisis when it inevitably comes to pass. His next vision for the company is to cement its place as the undisputed leader of luxury hospitality—I’m sure that the audience could all agree that Mr. Sharp is well on his way to realizing this goal.