For Fredrick Cerrone, hiring veterans as franchisees isn’t just about helping fellow servicemembers in need – it also produces less employee turnover and higher rates of success.
Fred Cerrone is founder and Chair of Hotel Equities.
By Tom Williams
Bringing on veterans as franchisees and hiring servicemembers to other positions is part of the regular routine for Hotel Equities, and its founder, Frederick Cerrone. For Cerrone, a five-decade ascent to the top of the hospitality industry began as a stroke of fate. His stalwart work ethic, commitment to excellence, and entrepreneurial instincts led him to launch Hotel Equities, the Atlanta, Ga.-based multi-unit franchisee of multiple hotels, including Marriott, Hilton and InterContinental Group brands. Cerrone is also Chairman of Hotel Equities and COO of Hotel Development Partners.
Consistent success has led Cerrone to create nonprofit partnerships with Marriott and other brands, while giving back to the local community. In recognition of its outstanding civic work in the communities where Hotel Equities operates a hotel, the company has been honored twice by Marriott with the prestigious “Spirit to Serve Award.”
As a young U.S. Marine Reserve, waiting to be shipped out to Vietnam, Cerrone was hired at the Sheraton in Boston. He fell in love with the industry and knew that he wanted to work in hospitality as a career. Frederick saw hotels and hospitality as a global business.
Following his military service, Frederick was selected for Sheraton’s Management Training Program. Named a General Manager at age 21, he was the youngest selected for this role at the time. Admitting to having ‘hospitality in his blood,’ Cerrone was twice recognized as being General Manager of the Year by national hotel franchises in one decade.