1. Build a strategic road map to success
360 VOX’s CFO and corporate secretary, Colin Yee, says that his company has been able to expand on a global scale by following its very own road map to success. “The key for us was to work with our teams to build a strategic road map for our vision and to make sure that we highlight important targets and checkpoints on the map for all of our employees,” he says.
The company’s road map includes its goals of acquiring and developing international assets and provides a clear process to follow, in order to see them come to fruition. Yee and the leadership at 360 VOX believe that having a clear vision also allows the company to execute its business plans, deliver financial results, and create brand equity despite having employees located across the globe.
“I think if you’re clear with the road map, the people on the ground—no matter where they are in the world—are able to stay focused and have the autonomy to push ahead as long as they hit their targets and checkpoints along the way, and that we have open and regular communication throughout the process,” he says. “Because of this, we’re able to forecast how much gas we have in the tank, where we’d like to be, how much gas we need to get there, and where we can refill the tank along the way.”
2. Diversify assets and revenue base
At its inception, in 2009, 360 VOX worked almost exclusively in real-estate development. But over the past couple of years, the company has seen a significant shift in its business as it began to diversify its revenue base to include fee and operating revenues through its asset-management and hospitality platforms, in order to allow for global growth.
MEET THE COMPANY
360 VOX is emerging as one of the top integrated development and operations companies, taking the international real-estate and hospitality market by storm. The company was founded in 2009 by four partners, three of whom were former executives of Intrawest ULC, a leader in the development and management of destination resorts, including Whistler, Tremblant, and Steamboat. 360 VOX is a publicly traded company on the Toronto Venture Exchange that develops and manages luxury hospitality, resort-recreational, residential, and commercial real-estate properties in the French Alps, Croatia, and Cuba. It also manages a portfolio of hotels, including seven Fairmont Hotels, on behalf of Ivanhoe Cambridge, the real-estate subsidiary of the Caisse de dépôt et placements du Québec. The company is in a period of expansion and recently acquired Sotheby’s International Realty Canada, Sotheby’s International Realty Québec, and Blueprint Global Marketing—an exciting acquisition, as 360 VOX now operates the Canadian real-estate sales and marketing business through this brand’s internationally renowned network.
“Our company has undergone significant change and transformation over the past couple of years, which have included the diversification of our assets and revenue base,” Yee says.
The company’s change in focus has allowed it to expand in the international market and acquire properties across the globe, from North America to France and Eastern Europe. It works closely with professionals such as engineers and architects to develop the company’s international assets, which it is then able to market, operate, and sell, from golf courses to luxury resorts.
3. Seek out strategic acquisitions
“We’ve done a number of ac-quisitions over the last year or so,” Yee says. “They present a very interesting value proposition to our partners, our clients, and ultimately our shareholders.”
The acquisition of Sotheby’s International Realty Canada, Sotheby’s International Realty Québec, and Blueprint Global Marketing has certainly been a huge boost to 360 VOX, allowing it to garner unprecedented access to exclusive markets and real-estate opportunities.
The company has also recently formed a strategic partnership with a high-end spa and resort-management company, the Enchantment Group, which runs one of the world’s top spa destinations, including Mii amo resort and the famous Tides Inn. These partnerships and acquisitions have let 360 VOX expand exponentially and reach out to an even larger client base.
4. Change internally, not externally
360 VOX was recently purchased by Leisure Canada, a publicly traded company that operates properties in Cuba. “The board of directors and shareholders of Leisure Canada liked our assets and our business model so much that the company acquired 360 VOX and subsequently changed its name from Leisure Canada to 360 VOX Corporation,” Yee says. “They adopted our name, and instead of becoming outsourced management, we became the internal executive team for this company.”