At your service: how a new venture from EMBA graduate Ronald Homsy delivers genuine hospitality know-how 

Serial entrepreneur Ronald Homsy fulfilled an academic ambition by completing our Executive MBA last year; now he’s delivering on his business ambitions by launching Aventra Hospitality alongside co-founder Richard Haddad. We spoke to him to find out more… 

 The first stage in any new enterprise is spotting the market opportunity. For Aventra Hospitality co-founders Ronald Homsy and Richard Haddad, that element was relatively straightforward. 

“In the regions that we are focusing on (Middle East, Africa and Central Asia), there’s a growing trend among investors and hotel owners to transition away from Hotel Management Agreements (HMAs) to franchise contracts with brands. This has been a key objective for major hotel brands for some time, and it mirrors the trend that began in the US several years ago,” Ronald explains.  

In fact, this has been an important characteristic of the hotel business since the 1990s, when the big chains began to adopt ‘asset light’ business models, taking the bricks and mortar real estate off their balance sheets and opening up the hotel property market to real estate investors. 

Such investors may possess the necessary capital to buy or develop the properties, but often lack the operational know-how to run them. And this has created space for third party management and advisory firms – like Aventra Hospitality – who can supply the missing expertise. 

Ronald continues, “The ideal model is a three-way contract between the hotel owner, the management company, and the brand. The latter serves as the franchisor and provides the property’s flag and brand name, while also bringing established distribution networks and loyalty programs. Our role is to deliver comprehensive management services, and we’ve identified a significant gap in these markets for experienced and innovative providers like us, who excel in delivering these services.” 

Going for growth

The trend towards franchising is one thing, but the even bigger story here is the outstanding growth potential for tourism and hospitality in the regions that Aventra is targeting. The commercial opportunity is simply too great for a committed entrepreneur like Ronald to ignore. 

“Take Saudi Arabia as just one example,” he says. “In terms of tourism infrastructure, where was Saudi Arabia 10 years ago? And where is it today? Unrecognizable! And think where it’ll be 10 years down the line – the level of investment is stratospheric. All of these mega projects coming along, like the Red Sea development, Diriyah, AlUla, NEOM… the tourism ecosystem is going to be completely transformed.” 

With Saudi Arabia experiencing rapid economic growth, Ronald anticipates sustained momentum in the UAE’s hotel market, which shows no sign of slowing down. The UAE, already a regional leader in hospitality development, continues to benefit from its strategic position as a global hub for tourism, business, and investment. Aventra Hospitality has strategically chosen to establish offices in Dubai, Riyadh, and London, positioning itself at the heart of key global and regional markets. 

Another asset to Aventra Hospitality is the contrasting but complementary skills brought to the table by its co-founders. 

“Richard knows the Middle East hotel market intimately, having spent almost 25 years there – the last five of which as CEO of two successful hotel companies,” says Ronald. “I bring more of a background in innovation, not least with the two companies I’ve built in the travel and hospitality technology space. We’re looking to add value by offering innovative and sustainable proposals that also play on our understanding of how the hotel business works.” 

Drawing on their impeccable contact books, Ronald and Richard are already finalizing partnerships with major hospitality multinationals. However, Ronald points out that in many of the markets they are covering – notably in Central Asia – standalone hotels and chains are both popular directions for investors and developers to take. 

“For investors who want to set up independently of an existing brand, we offer the complete ‘cradle-to-grave’ service: from conceptualizing the brand and property, through to choosing the optimal category and segment for the hotel, formulating distribution strategies, then handling the operational management of the property… right through to the exit strategy.”

The 24/7 entrepreneur

As he builds yet another business, what is it that continues to inspire Ronald’s entrepreneurial appetite? 

“I’m just someone who is constantly coming up with ideas – I cannot help myself! I keep a notepad by my bedside because I’ll often wake up in the middle of the night with an idea, and I need somewhere to write it down or I’ll forget it by morning. I like creating concepts from scratch and I try to do things that will make a difference, however small. Lastly, I’m not afraid to fail – you cannot be an entrepreneur if you cannot bear to fail.” 

Time out to study with Les Roches

As a graduate of our sister school Glion, Ronald has now ‘completed the set’ by earning an Executive MBA with us last year. What motivated him to go back to school with this executive education program? 

“It’s something I’ve wanted to do for a very long while,” he says. “But it’s always been a matter of finding the time and energy. When this opportunity to study an EMBA online came up, I talked to some of the people involved with it and so I was confident it was going to be a worthwhile experience. But I have to say it surpassed my expectations – it’s a very, very good program, with excellent teachers.” 

Ronald had the distinction of joining the inaugural intake for the EMBA, and he thoroughly enjoyed being part of that pioneering cohort. “It was great working together with a peer group who came from all kinds of different sectors – not just hospitality, travel and tourism, but also people who’ve worked in different segments of the luxury industry. Having in-depth discussions with all these different people was mind blowing; and a lot of them have subsequently become friends. For an entrepreneur like me an executive program like this is a great networking opportunity.” 

Making a difference

Switching his thoughts back to his latest startup, Ronald says that success for Aventra Hospitality would be to have around 100 hotels under management within a decade. But it’s not just about hard targets. 

“As I mentioned before, I look at success as being primarily about making a difference. In the way we do things; how we do things, in terms of our principles around innovation, sustainability, and elevating experiences. The hard work has already started, and we are both really excited to be embarking on this journey together.” 

• To discover more about Aventra Hospitality, visit the website https://www.aventrahospitality.com/