In this the summer edition of Insider+ there is much to celebrate. June 2018 marks the fiftieth anniversary of the official opening of our first hotel – the Corinthia Palace in Malta, and I am delighted to see this edition look back on that history – a narrative that is so precious to me and my family. It is a story which not only reveals how Corinthia was conceived – its foundations and formative period – but defines the spirit that continues to underpin the Company fifty years later.
This month, on the back of IHI’s remarkable year-end results for 2017, we have been able to announce that all our highly valued shareholders are to be issued a net dividend of two cents per share. I am delighted this is the case, for there is no greater priority for the Company than to benefit our shareholders’ financial interests and repay their precious support. Our intention, save any force majeure, is to continue to distribute regular dividends on an annual basis.
“…on the back of IHI’s remarkable year-end results for 2017, we have been able to announce that all our highly valued shareholders are to be issued a net dividend of two cents per share.”
The details of IHI’s record-breaking financial performance last year, and the reasons for it, are dealt with separately in this edition. I shall not repeat them, suffice to say that it makes me extremely proud of our senior leadership team, our hotel general managers, and the thousands of Corinthians – working across IHI’s diverse business portfolio – whose efforts have made this possible. I am confident that with this team we can go a long way and be amongst the best in our sector.
As we complete the second quarter of 2018 we can already look back on many exciting achievements and new projects set in train. All have a common denominator: the pursuit of excellence in everything we do. Along with that ongoing mission, is the commitment to set new goals, to surpass previous targets, and to create the conditions for our Company and our people to reach new heights.
“As we complete the second quarter of 2018 we can already look back on many exciting achievements and new projects set in train.”
This edition of IHI’s online journal gives a glimpse of some of the remarkable new projects underway, and an insight into their development. It celebrates the people behind this Company, those whose efforts are further establishing Corinthia Hotels as one of the world’s most respected luxury hotel brands.
We are known for our stunning trophy properties but our people are undoubtedly our most important asset. Corinthia’s mission from the earliest days has been to empower our people, to help them achieve their fullest potential, and in doing so to enrich their lives. But this empowerment works both ways: the trust we bestow on our employees is based upon an unwritten contract, that he or she provides their absolute best, and that their conscience and integrity drives the standard of their work. Where we get to in life is the product of this self-discipline. When I speak of ‘the Spirit of Corinthia’, it is this integrity, this passion to excel – this commitment to integrity – that is at the heart of my message.
“Corinthia’s mission from the earliest days has been to empower our people, to help them achieve their fullest potential, and in doing so to enrich their lives.”
I am particularly pleased this edition includes updates on IHI’s major development in Dubai, Corinthia Hotel & Residences Meydan Beach, and the remarkable work of one of the most prized hotels in IHI’s portfolio, The Meydan, in servicing the needs of the 2018 Dubai World Cup. Reports on developments in Romania also take centre stage, following our announcement to redevelop and manage the former Grand Hotel du Boulevard in Bucharest.
This initiative, to re-establish another iconic former grand hotel of Europe, is further evidence of our commitment to secure many more management agreements over the coming years, and creating partnerships with third-party owners who see their future commercial success allied to the Corinthia brand, and to the values of excellence and craftsmanship for which we are renowned. Moreover, our priority to enter into more such management agreements reinforces the commitment we have made to our shareholders, to give them future returns on their highly valued investment. In short, our pursuit of growth, has never been more clear, and that growth is underpinned by fastidious research and careful commercial judgement.
In growing this Company, let us remember, we create new and dynamic commercial environments, we are also creating employment opportunities for a new generation of Corinthians. This is a responsibility we cherish – for in generational change we pave the way for the Company’s long-term success.
As we enter the third quarter of 2018 with the warming winds of summer in our sails, let me take this opportunity to thank each and every one of you – The Corinthia family for your ongoing support and commitment.