Jean-Jacques Gauer, chairman of the executive committee of The Leading Hotels of the World, announces that Paul M. McManus, president and CEO of the organization, will assume the post of vice chairman of Leading Ventures, effective September 1. In this capacity, McManus will oversee the development of new business opportunities for the company, while continuing to serve as an active member of the board of The Leading Hotels of the World.

At the same time, Gauer announces the appointment of Ted Teng as McManus’ successor and new president and CEO of The Leading Hotels of the World Ltd., also effective September 1.

“During the past decade under Paul’s masterful leadership, The Leading Hotels of the World Ltd. has enjoyed record-breaking years in terms of growth, revenue and brand awareness,” Gauer says. “As we celebrate our 80th anniversary, we can thank him for transforming our company, and helping it attain the status of the premier full-service luxury brand that we enjoy today.”

Teng brings with him thirty years of experience in the global hospitality industry. He currently manages his own hotel investment and operations firm, Prime Opus Partners LP, which he founded in 2006. Prior to that, Teng was the president, chief operating officer of Wyndham International Inc., where he oversaw the core branded hotel products, as well as the company’s third-party management operations, comprised of over 200 properties generating US$2.5 billion in annual revenue.

Before joining Wyndham, Teng served as president, Asia-Pacific, for Starwood Hotels & Resorts Worldwide Inc., overseeing the integration of that company’s branded hotel operations in the region. He was responsible for the operating and financial performance of over 70 hotels and resorts in 17 countries. Teng was formerly the president of Asia-Pacific for Westin Hotels, where he was credited with having achieved significant growth in the number of hotels and unit operating margins. Previously, he was with ITT Sheraton, where he served for 14 years in a variety of senior and strategic capacities in operations, finance and development, in North America, Hawaii and Asia.

Teng is a graduate of the Cornell University School of Hotel Administration, and he holds an MBA from the University of Hawaii. Born in Shanghai, China, he grew up in Hong Kong, and emigrated to the United States at age 13.

"The board of directors has found Mr. Teng’s broad set of leadership skills, business acumen, and operating principles to be an excellent fit to maximize the opportunities for this global hospitality organization," Gauer says. "We are confident in his abilities to expertly lead the next phase of the company’s significant growth through further strategic development and effective operational execution."

According to the prior established succession plan, the search process for president and chief executive officer began in the fourth quarter of 2007 with a committee comprised of Gauer, McManus and select members of the board of directors of The Leading Hotels of the World Ltd. Dennis P. O’Toole & Associates Inc., a respected boutique search firm specialized in hospitality, was also engaged as part of the comprehensive process.