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Ted Teng States Corporate People Focus On Accounting Profits and Entrepreneurs Focus On Cash

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  • Date Added : 11/15/2007
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Ted Teng

  • Founder and CEO, Prime Opus Partners, LP
  • male
  • Asian
  • 1957 (Age: 64 years old)
  • Ted Teng - Interview - Prime Opus Partners, LP
  • Video 1 of 20 in this Case
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Biography

Ted Teng was appointed president and chief executive officer of The Leading Hotels of the World, Ltd., in September 2008. In his position, Mr. Teng oversees and directs all aspects of business strategy, operations, and performance growth for the premier luxury hospitality organization. The company, which represents over 450 predominantly independent hotels, provides global sales, marketing and distribution services through an expansive network of worldwide sales and reservations offices. Based at the company's headquarters in New York, Mr. Teng also holds a seat on the board of directors.

Since joining The Leading Hotels of the World, Mr. Teng has developed and begun executing a detailed five-year business plan which focuses on strengthening the brand and driving increased revenue to member hotels. Within the plan, he has also asserted the crucial importance of dedication and adherence to quality, in the firm belief that by elevating the overall level among the collection, all hotels will benefit. Taking as his motto "Preserve, Enhance, and Invent," he seeks to honor and uphold the more than eight-decade-old traditions of the organization, while innovating to achieve greater strength and success in the future.

Immediately before joining the organization, Mr. Teng was the principal and chief executive officer of Prime Opus Partners, LP, a hotel investment and operations firm he founded in 2006. In 2005/2006, he served as executive-in-residence and was actively involved through various volunteer leadership roles at the School of Hotel Administration, Cornell University.

Throughout his 30-year career in the hospitality industry, Mr. Teng has been responsible for the growth of some of the most prominent brands in the world. For five years he was president, chief operating officer of Wyndham International, Inc., where he oversaw the core branded hotel products, as well as the company's third-party management operations, comprised of over 200 properties generating USD 2.5 billion in annual revenue.

He also served as president, Asia-Pacific, for Starwood Hotels & Resorts Worldwide, Inc., immediately following the merger of Starwood Lodging, Westin, and Sheraton. He oversaw the integration of that company's branded hotel operations in the region, and was responsible for the operating and financial performance of over 70 hotels and resorts in 17 countries. New projects executed during Mr. Teng's tenure 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.

Prior to the Starwood merger, Mr. Teng was the president of Asia-Pacific for Westin Hotels, where he was credited with having achieved significant growth in the number of hotels, including the launch of notable new flagships in Sydney, Melbourne, Guam, Kuala Lumpur, Awaji Island, Taipei, and Shanghai. Before coming to Westin, he was with ITT Sheraton, where he served for 14 years in a variety of senior and strategic capacities in operations, finance and development in North America, Hawaii and Asia. Most notably, Mr. Teng successfully negotiated the first ITT Sheraton equity investment in China in a multi-use project that included today's St. Regis Beijing.

Ted Teng is a graduate of the Cornell University School of Hotel Administration. He has an MBA from the University of Hawaii. Born in Shanghai, China, he grew up in Hong Kong and emigrated to the U.S. at age 13. He became an U.S. citizen at age 18.

In some respect, I have to make sure I didn't bring with me some of the corporate environment type of practices. One of them is really use of resources. In a corporate environment, you know, you have a lot of professionals available and you don't think about ... you know, if I call the attorneys, ...(Full transcript available to logged in subscribers.).

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Ted Teng videos

Video 1 of 20 Ted Teng Discusses Personal and Academic Background
  • Ted Teng - Interview - Prime Opus Partners, LP
  • 11/15/2007
  • Ted Teng
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Video 2 of 20 Ted Teng Shares Thoughts on Hospitality Industry
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 3 of 20 Ted Teng Shares Strategies For Approaching Professional Career
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 4 of 20 Ted Teng Discusses Importance of Getting Meaningful Feedback
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 5 of 20 Ted Teng States Importance of Creating Relationships Where People Feel Safe In Providing Constructive Feedback
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 6 of 20 Ted Teng States Corporate People Focus On Accounting Profits and Entrepreneurs Focus On Cash
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 7 of 20 Ted Teng Discusses Reason Behind Founding of Prime Opus
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 8 of 20 Ted Teng Discusses Fundamental Differences Between Hotel Industry and Other Industries
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 9 of 20 Ted Teng Discusses His Holistic Approach To Business
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 10 of 20 Ted Teng States There Are Opportunities To Be Entrepreneurial In The Corporate Environment
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 11 of 20 Ted Teng Discusses Differences In Business Planning From Corporate and Entrepreneurial Perspectives
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 12 of 20 Ted Teng Shares Frustrations Of Being An Entrepreneur
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 13 of 20 Ted Teng Shares Thoughts On How He Evaluates Business Plans
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 14 of 20 Ted Teng Discusses Challenge of Working In Cross Cultural Environments
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 15 of 20 Ted Teng States Importance of Dealing With Problems That You Face
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 16 of 20 Ted Teng States Importance of Treating Each Person As The Great Human Being That They Are
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 17 of 20 Ted Teng States Humans Take Action Out Of Love Or Fear
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 18 of 20 Ted Teng Discusses Five Levels of Leadership
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 19 of 20 Ted Teng States MBA Programs Don't Necessarily Prepare You For Leading A Diverse Organization
  • Ted Teng - Interview - Prime Opus Partners, LP
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Video 20 of 20 Ted Teng Shares Philosophy On Making Mistakes
  • Ted Teng - Interview - Prime Opus Partners, LP
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