We all have a unique ability to apply and develop a concept to fit more complex circumstances. Strategy is one such concept.

In April 2024, IHI announced the creation of a Chief Strategy Officer position. Naturally, strategy has been integral to the organisation since the laying of Corinthia’s first stone in 1962. However, given the growing complexities and opportunities within the luxury hospitality and real estate sectors, this crucial function has been further institutionalised, carefully developed and continuously refined. This ensures that IHI  effectively navigates the current landscape and proactively shapes its future, maximising shareholder value and achieving its ambitious long-term vision.

“The establishment of the Group Chief Strategy Officer role signifies our proactive commitment to strategic foresight and maximising the inherent potential within our exceptional portfolio of assets and operations,” commented Simon Naudi, IHI CEO and Managing Director.

Michael Izzo

 

Corinthia’s expansion efforts justify the selection of an individual who can unite and harmonise the various developments within the organisation. The person chosen for this essential role is Michael Izzo, a distinguished gentleman endowed with exceptional talent, experience, and charisma.

Michael Izzo brings an impressive breadth and depth of experience, with over three decades in the industry. His career has encompassed essential aspects of hospitality operations, strategic property development, proactive asset management, insightful real estate investment, and a solid understanding of IT infrastructure, showcasing his versatile skill set. 

His tenure at the Corinthia Group, where he served as Chief Financial Officer of Corinthia Hotels Limited and previously as Director of Finance for Corinthia London since 2008, and Owner’s Representative for major projects like Corinthia London and the Hotel Astoria in Brussels, highlights his profound understanding of the company’s core values, operational intricacies, and a proven track record of delivering results across a range of challenges.

 

Michael’s approach is proactive and solution-focused and is fortified with a strong ability to analyse complex situations and develop effective strategies. His time in critical leadership roles at the Corinthia Group, especially as Chief Financial Officer and Owner’s Representative for major projects like Corinthia London and the Hotel Astoria in Brussels, highlights his business-oriented mindset, skill in creating teamwork, and ability to build and empower exceptional teams that go beyond expectations

Throughout his influential tenure as Director of Finance at Corinthia London, Michael played a key role in managing the financial aspects of the hotel’s development phase, successfully guiding it to stabilisation and establishing it as the Group’s flagship property. Furthermore, his leadership as Managing Director of NLI, the investment vehicle behind the iconic Corinthia London, saw the successful refinancing of debt to optimise cash flow and the strategic execution of significant capital refurbishment projects, including securing partnerships with globally renowned culinary talents.

His proficiency in advanced financial modelling, strategic financial leadership during critical pre-opening stages of new hotels, and the effective establishment of solid reporting and budgeting frameworks have been tremendous assets to the Group. 

 

Enjoying nature with his two children, Frank and Vincent, and his lovely wife Danielle

Subsequently, as CFO of Corinthia Hotels Limited, Michael collaborated closely with the CEO to obtain vital new management agreements and leases for the company. These strategic efforts are currently setting the stage for the next major phase of growth and expansion of the Corinthia brand globally.

His adept management of the development of Hotel Astoria in Brussels further underscores his ability to steer intricate projects from conception through to successful realisation.

What would his primary duties be as Group Chief Strategy Officer? Michael is now at the forefront of shaping IHI plc’s future trajectory. Collaborating closely with the CEO and the executive leadership team, his immediate and ongoing priorities are multifaceted and strategically crucial. They include:

  • Orchestrating Strategic Financial Initiatives: Working closely with the CEO and Group CFO to identify, evaluate, and execute vital capital-raising activities to fuel IHI plc’s growth and strategic objectives.
  • Optimising Asset Performance and Strategy: Creating and executing strategies for the Group’s diverse assets, focusing on a possible strategic sale and management of the Corinthia Lisbon property to free up capital and maintain operational excellence.
  • Enhancing Governance through Robust Reporting: Spearheading the design and implementation of a clear, concise, and effective framework for owner-board reporting, ensuring transparency and providing critical insights for informed decision-making.
  • Driving Excellence in Capital Projects: Providing strategic oversight, financial guidance, and meticulous monitoring of key capital projects that are integral to the Group’s future, including the highly anticipated relaunch of Northall at Corinthia London under the esteemed culinary direction of Francesco Mazzei, the ongoing enhancements of the luxurious suites at Corinthia London, and the thorough assessment of future strategic refurbishment projects.
  • Ensuring Financial Prudence and Performance: Conducting rigorous reviews of proposed budgets for the upcoming fiscal year (2025) and establishing robust mechanisms for the ongoing monitoring of the hotel, the operator, and other business units’ performance against key financial and operational metrics.
  • Optimising Business and Legal/Tax Structures: Undertaking comprehensive reviews of existing business and legal structures, explicitly focusing on optimising leasehold arrangements to enhance efficiency and mitigate potential risks.
  • Building a Resilient Strategic Planning Foundation: Leveraging his initial work to further develop and embed a robust and adaptable strategic planning process across the entire Group, ensuring precise alignment of objectives and effective delivery of key overarching goals.
  • Providing Rigorous Oversight of Capital Plans: Ensuring the comprehensive monitoring, diligent review, and strategic approval of all capital expenditure plans across the Group’s diverse portfolio.
  • Managing Critical Agreements with Expertise: Overseeing the meticulous review, strategic negotiation, and final approval of all leases, third-party management agreements, licenses, and concessions related to the Group’s owned assets, safeguarding the company’s interests.
  • Representing Shareholder Interests on Key Boards: He continues his active and influential role as an owner’s representative on various hotel boards, providing strategic guidance and ensuring alignment with group objectives.
  • Advancing Strategic Acquisitions: Collaborating closely with the development team to identify and progress strategic acquisition opportunities that align with the Group’s long-term growth objectives.

Michael Izzo’s experience, guidance and stewardship strongly embolden IHI in its dynamic and transformative new phase, marked by strong strategic growth, ongoing innovation, and a steadfast commitment to enhancing value for its stakeholders in the future.