In 1995, Fred Cerrone, Hotel Equities founder and CEO, was on a mission trip in India when his group ran into danger. “We came across a life-threatening situation and our lives were at risk,” he explained. “We were put into the back of a truck and covered with some material. During that time, my life flashed before my eyes, so to speak, and I knew if I survived this I was going to spend more time with my daughters.”
He did make it through. And when he returned, Cerrone developed the Hotel Equities sabbatical program, giving managers at the company a 90-day paid sabbatical every five years.
“In total we’ve had about 20 or 25 people go out on sabbaticals,” he said. “They come back with encouraging stories: One single mother with two kids took her family to Europe. One young man took a trip across Australia.”
Cerrone said he never intended the sabbatical program to reap such rewards.
“I thought it would be a way for me to pay them back for being in a business where you have to be on call 24-7,” he said. “I didn’t anticipate they would come back refreshed and focused.”
Another positive side effect of the sabbatical program is the opportunity for the company to cross train, he said. When GMs go on sabbatical, the company promotes assistant managers on an interim basis, and often they prove they are ready to step up to a higher managerial position.
“It’s been a win-win for everybody,” Cerrone said. “Our tenure speaks for itself.”
