In a global economy where we’ve all become accustomed to the notion that constant career changes are a key to success, EHL Hospitality Business School alumnus Chris (Chi Hyun) Cho stands out as a prime example of a successful executive who has excelled in the niche field of hotel development for his entire professional career. Going from strength to strength since graduation, Chris now oversees the expansion of a network of hotels in Singapore, Japan, South Korea, Philippines and Maldives for global hospitality brand, Accor.
Today, 16 years into his career, Chris’ steady ascendancy through the ranks of a major global organisation like Accor stands as a testament to the importance of finding your niche, honing your skills, and ultimately, staying the course despite the ups and downs.
A global hospitality real estate career
After graduating with honours from EHL in 2007 with a specialisation in Real Estate Finance and Investment, Chris began his career as a consultant in London with the multi-billion dollar real estate services firm, Cushman & Wakefield. There, his role entailed providing hospitality advisory services for Europe, Africa, and the Middle East.
It was during this early stage of his career that Chris gained a valuable foundation in the dynamic world of commercial real estate, encompassing lessons in financing, feasibility analysis, and most importantly, the skill to see things from the perspectives of hotel owners and investors.
In 2010, he then relocated to South Korea for an opportunity to work at Accor-Ambassador Korea to oversee its development in the country. As an organisation with thousands of properties in over 100 countries, Chris’ niche skill set proved invaluable when he assumed his role as development manager, where “it’s critical to think like an owner and propose the right brand at the right location.”
After climbing the ranks at Accor, Chris now serves as the Vice President of Development, based in Singapore. Covering a diverse range of Asian markets including Singapore, Japan, South Korea, Philippines, and Maldives, Chris plays a pivotal part in expanding the company's hotel portfolio.
His role is particularly dynamic given that, despite their global presence, hotel giants like Accor often do not own all their properties. For instance, Accor’s franchise and management models allow them to focus on their core strengths—building brand identities, executing marketing strategies, and overseeing loyalty programs—without the necessity of owning real estate.
This means that Chris’ work involves sourcing and negotiating regional hotel management and franchise contracts, where each deal is a unique mix of factors, from local competition to market adaptability and effective management of stakeholder relations.
Chris’ role illustrates that despite the perceived glamour of working in hotel development, success in this field still hinges on mastering the fundamentals of hospitality—understanding human needs and tailoring solutions accordingly.
I’ve found the key is to always be open to different cultures and ways of business, and focus on building a sense of trust and good relationships, which will greatly help to find a balance among different stakeholders.
Riding the waves of industry change
Over the years, Chris has witnessed the hotel industry's fluctuations and seen how successful hospitality brands pivoted to meet these changes. For Chris, “Accor has been exceptionally dynamic and entrepreneurial in establishing itself as a market leader particularly in Asia Pacific, Europe, Middle East & Africa, and South America.”
For example, in recent years, there's been a notable shift among hospitality consumers towards prioritising individuality and purpose in their purchasing decisions. Brands like Accor have responded to this trend by offering a diverse portfolio of brands (see below), spanning from luxurious options such as Sofitel, Fairmont and Raffles Hotel, to more budget-friendly choices like Ibis.
These strategies resulted in Accor's 6th consecutive quarter of growth following the pandemic. Their third-quarter revenue last year surged by 13% compared to the previous year, with particularly robust growth observed in Asia.
Hospitality’s long-term potential
While the travel industry took a hit during the pandemic, it’s rebounding fast. This year, its global economic impact is expected to reach a record-breaking US$11.1 trillion, surpassing the pre-pandemic high of US$10 trillion in 2019.
For Chris, this highlights the hospitality industry’s true potential for long-term career development.
At the end of the day, we are in a cyclical business that experiences ups and downs over time. Things always return to normal eventually, as if nothing ever happened.
What’s more, the global tourism sector is projected to generate 110 million new jobs over the next ten years, according to the World Travel & Tourism Council (WTTC), and one of the key aspects that will drive hospitality’s longevity, in Chris’ opinion, is hiring and retaining that next generation of talent. “Asia in general has a great pool of young talent. The industry needs to ensure that such talents are attracted and retained in the hospitality industry.”
This means that for those looking to be part of that boom, the hospitality industry offers a world of experiences, and as Chris notes:
having a good school degree, like EHL’s, will bring you to the doorstep of many interview opportunities. Then as you progress and reach a certain level in your career, EHL and its alumni network will undoubtedly become part of your credibility and a valuable asset.
Lessons in the hospitality industry
While Chris's VP role offers him a global perspective and dynamic responsibilities, he still derives profound personal fulfilment from meeting “a lot of interesting people who have worked their way up from humble beginnings, and make a really positive impact on those around them.”
Having already chalked up over 15 years of experience in the hospitality industry, Chris has also weathered many ups and downs, from the rise of accommodation disruptors like Airbnb to the impacts of the Covid-19 pandemic.
His advice
“My biggest takeaway is to always stay positive and keep laser focused on what you [personally] can do best. When opportunities come your way, make sure you’re well-prepared, then you can grab it without hesitation even though good opportunities mean taking certain risks and getting out of your comfort zone.”
While the hospitality industry may seem volatile at times, it’s important to remember that as an industry, it has endured for millennia, dating back to the earliest days of the Silk Road. So for anyone hesitant about being a part of this booming industry, Chris has this to say:
We are in a great industry, as it is our human nature to travel and interact with people and communities.
