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Exclusive Resorts CEO Philippe Bourguignon on former Yahoo CEO Scott Thompson, the challenges of running a public company and the latest in high-end t...
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Few chief executives are able to see the world economy as Phillippe working on -- Who has that kind of well he's the CEO of exclusive resort -- a former chairman and CEO Eurodisney.
-- -- CEO of the World Economic Forum and that I mentioned that he served on the boards of both zip car and eBay.
And he ran club met for several years city joins us now from Denver in a Fox Business exclusive and welcome sir and thank you for being here we appreciate you coming on -- Look before we can't have -- your business at hand with got to ask you about Yahoo! and your friend former CEO Scott Thompson you sat on the board of eBay.
Well -- ramp PayPal which was a division of eBay and did the job quite beautifully.
What do you make of this.
Budging on the -- may -- all that has happened so far to Scott Thompson.
Welcome to -- know what to tell you I have a lot of respect for Scott's.
He was a wonderful exactly TV was a great leader.
He was first to -- you'll all of a peep out of and then he became the CEO.
And -- -- an amazingly good job so that's what I know and -- and obviously knowing when and again respect.
The last time that we interviewed him was just this past fall for three days in the valley -- in Silicon Valley summit that we always do it Fox Business.
And he was riding high he was doing such an incredible job people we're talking about spinning off PayPal but question to you is this if you sat on the board.
-- -- company that wanted to hire Scott Thompson would you hire him again.
That's -- if you question -- you fight.
-- -- it's admitted into question what he thought was running a private company.
Nonpublic.
Okay.
I think I would.
Yes you know what then that's a that's an important distinction running a private company have have things gotten so out of hand for publicly traded companies and their CEOs where.
They are expected and this isn't his situation but -- are expected to have instant returns for shareholders immediately.
You -- club -- you were brought in to overhaul that whole company you actually did that you cleaned it up you shine it up and then.
The crisis hit and there were two years of problems at that company financially not a surprise people's discretionary income was squeezed.
And you got pushed out so my question fuses are we expecting too much and pressure and our CEOs too much these days.
I think we do and the reason -- -- -- -- we have to -- -- which I think we did a pretty good job frankly yet.
Coming -- -- around we lost half of all business up to September 11 which was obviously unfortunate.
The day and I -- -- -- -- sabbatical past due course yield federalists.
And then was offered to sell what they -- -- -- -- -- at the evolution and I I enjoyed every minute of it goes.
You really do you -- the issue -- -- -- -- business to deed we -- people.
And you you just focused on for us -- stands sticking with kill -- members.
OK and that I wanna get to your business because this is interesting business I was on your portico website which is a division of exclusive resorts.
That is your company right now where you offer the high end client.
Really good value for travel where they would like to go.
-- the launch of portico going and what does it offer me that I couldn't get through a travel agent that deals with high and opportunities.
What do we do much smaller than -- -- coverage and does so obviously the price is.
One important fact though but of what -- is much more.
Then price forty coal is creating a new space between what I would call it conventional branded hotels.
What used you have.
The same -- -- room.
And the same restaurant at seven times of the day and -- -- to mean foods.
All pomerantz told -- on the other hand can be good but stopped being predictable and consistent.
Days -- -- Space Needle where if you off -- -- at -- And -- assistance.
To your man goes to get into beautiful homes which are consistent.
And so whether quickly -- predictable.
It's a home run the species demands.
We are not growing and existing market -- just spacing demand from two -- -- markets.
The lounge is this expected -- we launched.
But you less than three months -- exactly -- -- -- would fact that we now have 1611 members which exceed.
What you can -- -- year so we are obviously extremely satisfied.
-- These lounge and we seeing the potential.
Fall.
These kind of book club shore is.
He's -- you.
Let me just let people know there's a 101000 dollar initiation fee and then I believe the 2500 annual membership and that gets you access to residences all over the world from Bora Bora.
To Paris to -- Where you can have a private residence and add at a decent price I was looking at the Bora Bora one.
And over water bungalow so over the lagoon 430 at night I mean that that's seen what a very good price to -- a bid to Bora Bora we may have paid a little bit more about the several years ago.
-- look at the global recovery in the global economy you of course being a Frenchman but also.
Working for many European nations as well.
There is great worry right now that Greece might either exit or be jettisoned from the -- on -- how serious would that be for all businesses out there who either are based in the US and have a global footprint or European businesses.
As -- -- you don't want to say first that up today you can access political force of any 500 dollars note -- 1004 for the five.
Now according to Greece which by the way it.
But Greece and solvent countries in Europe where cold club med countries.
All I think -- -- countries which is.
You know the funny if anything are so it was.
Now the the -- the problem is -- way beyond Greece the problem is more.
Both public debt whether BP's by the way in the US all of all over Europe.
They NBC's compounded we've.
Issues or problems which are defense in each of the countries are Greece has nor the resources into his.
I'm so sorry to interrupt you we have some breaking news -- -- wonderful to have you want to -- working Owens the CEO of exclusive resorts we so appreciate you being here we'd love your perspective in the future.
