Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
Tilman Fertittais the CEO, and sole owner of Landry’s Incorporated, one of the largestrestaurants. He was born in Texas andstarted his business empire in Texas. His impact on the restaurant industry hasbeen successful since the 1980s. He has a net worth of $2.9 billion, rankinghim number 693 on the Forbes World’s Billionaires list, and number 232 on theForbes 400 List of the Wealthiest Americans. He is known as the “World’sWealthiest Restaurateur” by Forbes and continues to increase his success everyyear. |
1 |
|
|
Hisfather, Vic was an owner of a seafood restaurant on Galveston Island. Whileattending school, Tilman worked for his father when he was young, assisting inthe restaurant’s everyday duties. He was accepted to Texas Tech University andthe University of Houston, getting a degree in hospitality. During his time, hestarted his own firm, focusing on marketing and sales. However, his first big venturearose when he became involved in selling and promoting Vitamins. |
2 |
|
|
He also began to build homes for another source of income. During the 1980s, he founded and ran a development business, developing his first project, the Key Largo Hotel In Texas. He becamefull-time in food service in 1986, working for Landry’s.Only a fewmonths after joining Landry’s, he decided to buy the company. He knew thatLandry’s had potential, but he wanted to make his unique mark on the companyand grow it. In 1988, he became the sole owner of Landry’s, buying out theLandry brothers and all other investors. |
3 |
|
|
Despite early troubles, He expanded his company to include nearly a dozen restaurants. Landry’s Incorporated became public in 1993 and the company began to grow quickly, expanding with many different concepts.Thevalue of the company went from $30 million in 1993 to more than $1.7 billion in2011. As of 2013, Landry’s Inc. owns and operates more than 500 restaurants,entertainment, gaming, and hospitality places. He employs upwards of 50,000people and has control of approximately $3.2 billion in assets.
|
4 |
|
|
His portfolioincludes: The The GoldenNugget Hotel and Casinos; Morton’s The Steakhouse; Rainforest Cafe; Bubba GumpCo.; McCormick Seafood & Steaks; Saltgrass Steak House; Mastro’sRestaurants; and Vic & Anthony’s Steakhouse. Most recently, in December2016, he acquired Hooters, adding another restaurant to his resume. He ownsmultiple amusement parks and aquariums. |
5 |
|
|
In the sports business, he was an original investor in the starting of the Houston Texans National Football League, remaining as a partner for owner Bob McNair until 2008, only selling his because he couldn’t be involved with the football and casinos at the same time, due to anti-gambling rules in the NFL. |
6 |
|
|
In runningLandry’s, Tilman has conducted his business using the “Authentic” leader style.In this style, the focus is leading genuine. There are many ways he goes aboutkeeping his business run genuine. He has followed the values and principles thathe learned from working with his father. He has said numerous times that helearned his work ethic from his father and grandfather. He is working hard tohelp his home community in Houston, Texas thrive. He believes in quality andauthenticity of the product at hand. |
7 |
|
|
In fact, he agrees to pay more than what he currently pays on certain products and/or services if he believes in the company. He has a realsense of purpose, making him motivated to set goals. This sets a great examplefor the employees under this leader style, this increases that his employeeswill share this drive, making it easy to see why Fertitta currently has over50,000 people on his payroll. Finally, authentic leaders understand their ownvalue and behave toward others based on these values. These values he learnedby his family upbringing. |
8 |
|
|
In analyzingall these traits and qualities Tilman possesses, it is easy to see why he issuccessful with Landry’s Inc. His authentic leadership style has paved the wayfor his success. |
9 |
