Sheraton Real Estate Management

Refining Business Vision, Strategy, and Organizational Structure

CLIENT:
Sheraton Real Estate Management is a commercial and residential property management and maintenance/construction business in north state California.  Until a recent restructuring, the company managed over 2,000 property units.

Founded in 1985, Sheraton has been a family-owned business with a team of highly skilled and licensed professionals. Sheraton managed and maintained properties including residential apartment communities, single-family homes, homeowner associations, and commercial investment properties. In addition the company provided maintenance, electricians, plumbers, cleaning crews, etc.

THE CHALLENGE:
As a time when the ownership wished to reduce their personal involvement in the business they found themselves drawn deeper into it upon the departure of two key executives who had been assigned the day-to-day management of the business. Significant management changes and other personnel moves were necessary to ensure the health of the company and with a leadership void and no obvious successors in management or ownership, the founders found themselves as involved as ever.

Plans were made to re-scale the business to accommodate the desire of the ownership to reduce their involvement, including sales of certain divisions. Ownership also recognized the morale impact of the changes in management and business structure, and related personnel moves, on their 50+ employees. Accordingly, Morrison & Company was asked for assistance in managing the change process and its impact on the Sheraton team.

“We truly don’t know what we would have done without Morrison & Company” -

Larry Ruby, President

MORRISON & COMPANY’S APPROACH:
Morrison & Company was deeply involved in designing and refining the approach to the needed changes, including advising on communications with employees. Acting as a “sounding board,” the company able to routinely bounce ideas off our consultants and seek guidance as to approaches, priorities, implications, and solutions and their impact on morale and employee engagement. This included advising on the best possible actions/results in retaining key personnel and successfully transitioning employees to the divisions that were sold.  The strategy developed was used as a tool to prioritize and address each new scenario and challenge and the impact on morale, engagement, and retention.  Morrison also collaborated with another consultant to help address a specific key relational need.

THE RESULTS:
The sale of certain divisions and planned personnel moves were accomplished with minimal disruption to the business under the circumstances, and good retention of key employees (both with Sheraton and the new owners of the spun off divisions). Ownership’s goal of scaling the company to a size and structure that fit their time and involvement preferences was accomplished. Morrison & Company has continued to work with Sheraton as needed to continue to refine their vision and goals and the impact on the Sheraton team.