Even in the most difficult economic times there are businesses that thrive. What’s their secret? Loyal customers, dedicated staff and quality products and services are typical common denominators.
But the proof is often in the details. Beginning this week with a story on Page 1 on Newport Harbor Corp., PBN will feature in an occasional series the companies and industries that are creating jobs in the region in spite of a still-stagnant economy.
Newport Harbor Corp.’s portfolio includes eight restaurants and the Newport Yachting Center. It employs 450 full-time workers and expects to add another 500 employees this summer after the purchase of the Papa Razzi restaurants in Massachusetts and Rhode Island.
It has grown at a time when others in the hospitality industry have struggled to survive.
One of the company’s defining features is an employee stock-ownership plan that Paul O’Reilly, NHC CEO, expects will eventually make it 100 percent employee owned.
The plan ensures participants are committed to the company’s success. And that allows O’Reilly to focus on growing the enterprise.
“We feel confident that if you’re willing to take a risk during a difficult time, it will pay off,” he said.
It’s a confidence born from experience, research and dedicated workers who all benefit from making it happen. •
Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.