Ted Teng to Step Down as President and CEO of The Leading Hotels of the World

After a decade leading the company, Ted Teng is stepping down as president and CEO of Leading Hotels of the World, effective Apr. 12, 2019.

Shannon Knapp, senior vice president and chief marketing officer, has been named interim CEO, assuming the added responsibilities as of Apr. 13, 2019, as the Executive Committee considers a successor.

The Leading Hotels of the World has a collection of more than 400 independent luxury hotels. To join, hotels must meet a certain high criteria and maintain it during regular quality-inspection checks. In return, The Leading Hotels of the World provides a high level of sales and marketing, and reservations services, to its member hotels.

During his tenure, Teng sought to reinvent the company from a quality and revenue standpoint, driving up quality scores. He also shifted the focus to be on the consumers and their wants and desires, rather than being product-centric like other major chains, in order to deliver exceptional levels of customer satisfaction, and ultimately drive further increases in revenue.

Shortly after his appointment in 2008, Teng introduced a five-year business plan to restore the core foundation of the 85-plus-year-old brand, to better serve member hotels and enhance the quality of the collection. The strategy resulted in significant year-over-year increases in revenue, outpacing industry averages, and enabling the company to leap from the bottom of the competitive set list to a spot among the top three.

Teng was also behind a $30 million investment in technology, carried out over successive years, from revenue generated from the sale of Leading Quality Assurance (LQA), a joint venture program that carries out inspections for hundreds of hotels worldwide; and Leading’s new business model, which requires a down payment from members.

“He has remained steadfast in his commitment to reignite the now nine-decade old brand by honoring its traditions, while innovating to achieve greater strength and success for the future. It was this commitment that enabled LHW to achieve unprecedented member hotel revenue in 2018, surpassing $1 billion for the first time in the company’s history,” said Andrea Kracht, chairman of The Leading Hotels of the World, Ltd., Executive Committee.

Prior to joining The Leading Hotels of the World in 2008, Teng led the growth of some of the world’s most prominent hotel brands, serving as president and chief operating officer of Wyndham International, Inc.; and president, Asia-Pacific, for Starwood Hotels & Resorts Worldwide, Inc.