Hartford Business Journal

19 HARTFORDBUSINESS.COM | FEBRUARY 28, 2022 Our CT Cannabis Insider is delivered every Thursday at 10am to your inbox. SIGN UP NOW! HARTFORDBUSINESS.COM/ENEWSLETTERS Don't miss out on being part of the 2022 Business Profiles! Showcase your company's story and business achievements with the Greater Hartford business community. FOR ADVERTISING INFORMATION CONTACT HEIDI BRISSON A (860) 236-9998 X136 OR EMAIL HBRISSON@HARTFORDBUSINESS.COM ADVERTISING DEADLINE: MARCH 31ST PUBLICATION DATE: APRIL 25TH TELL YOUR STORY. HARTFORD IS LISTENING! COMPANY S ince its opening in 1989, the Beechwood Hotel has been synonymous with elegance, fine din- ing and luxury accommodations. An exquisite destination for guests to the Worcester area, the hotel represents a labor of love. Dr. Charles and Mrs. Janet Birbara, owners of the property, converted an empty lot at the corner of Plantation Street and Route 9 into one of the region's finest boutique hotels, complete with personal artwork, histori- cal artifacts and modern day amenities. Considered one of the most elegant accommodations outside of Boston, the hotel has hosted innumerable weddings, showers, special occasion parties and corporate meetings and reflects the Birbaras' passion for excellence. Since 1993, the Beechwood Hotel has undergone major renovation projects that have included gutting entire floors and replacing 1980s décor with upscale furnishings. The makeover included the addition of Ceres Bistro, an upscale restaurant with a dazzling 19th century stained glass dome, originally on display in the atrium of a Boston building. A quarter century after its grand opening, the Beechwood Hotel is slated for another facelift. Dr. and Mrs. Birbara have engaged the services of Sayed M. Saleh, president of International Hotel Management and Development, Inc., a consulting firm based in Boston that specializes in managing and developing luxury lifestyle hotels around the globe. He will serve as the Beechwood's Asset Manager & Managing Director, overseeing the reno- vation and day-to-day operations. A thirty-year veteran of the hospitality industry with a reputation as an energetic and visionary leader, Saleh is a pioneer in international tourism, having recognized this growing trend early in the 1980s. Locally, Saleh's group owned and managed the stylish Orchards Hotel in Williamstown, Massachusetts, a member of The Leading Hotels of the World and Preferred Hotels & Resorts, from 1993 to 2006. In 2008, Saleh developed the Sofitel Zallaq Resort, Spa and Marina in Bahrain, a 263-room five-star resort with seven palatial roof top suites, each with its own private infinity pool. The firm collaborated with the Jin Bin ERA Development Company in China on its $1.047 billion "First International Central Business District" development in southern Tianjin. Saleh Hospitality Group also consulted on the development of the Amrit Resort and Residences in Singer Island, Florida. Saleh cites the strength of the diverse culture in the area that encompasses top rated academic institutions, first class medical facilities and the growing biotech industry as good reason to move forward with the renovation project. "With the growing number of new companies coming to Worcester, the area is primed for an exquisite facility like this," he says. "We feel the time is right. Worcester's econ- omy is humming and the City will become a destination for visitors seeking a higher level of hospitality. The Beechwood is currently developing a final concept for the multi-million dollar refurbishment. Plans will include a change to the hotel's façade, bar and function rooms. "We are creating a wish list right now," Saleh says. At the present time, the Beechwood Hotel has 73 rooms and is considering the addition of more. Other potential amenities include a presidential suite and corporate suites, spa and pool. "We are still debating several options," he says. The Beechwood has won numerous awards to date and is the only hotel between Boston and the Berkshires to be named a Four-Diamond AAA hotel. The Beechwood is also a member of Worldhotels, an industry group that handpicks properties with a reputation for excellence, reflecting the local character. Although the Beechwood has enjoyed a reputation for high-quality customer service through the years, the envi- sioned "new and improved" destination resort anticipates taking luxury to a more grand scale. n Beechwood Hotel/Ceres Bistro: Central Massachusetts' Showplace w o r c e s t e r , m a Beechwood Hotel Address: 363 Plantation St., Worcester MA 01609 Phone: 508-453-1191 Fax: 508-792-5205 Website: www.beechwoodhotel.com Product or Service: Full service hotel, banquet facility and public restaurant No. of Employees: 115 Head of Company: Sayed M. Saleh, Asset Manager & Managing Director Year Founded: 1989 Revel in the harvest. P h o t o s / C o u r t e s y they'll use 1099 contractors if they have to. They can have more control over their initial labor expenses." Small businesses are also more susceptible to downturns than bigger companies that can absorb a few bad quarters or years. And sometimes ideas and business plans, for a variety of reasons, just don't take off. "There's a lot of churn in small business," Ercolano said. "For every one that comes there's one that goes." Indeed, from January through May 2021, the number of businesses that dissolved in the state (32,529) outpaced the number of new business starts (22,408), according to data tracked by CTData Collaborative. Full year business stops data was not available. In some cases new business starts may not even represent the formation of an actual company. For example, real estate investors will often create new limited liability companies when purchasing a property for legal protection purposes. High propensity businesses But the data also includes promising signs suggesting that small businesses could serve as an engine for meaningful growth. Lehman pointed specifically to an increase in "high propensity" business applications, or applications that are more likely to turn into a business with a payroll. High propensity applications typically come from a corporate entity, or indicate a company is hiring, purchasing a business, or plans to pay out wages. The state averaged between 800 and 850 high propensity filings over six-month intervals from 2010 to 2020, but that number has shot up since the pandemic began, and reached over 1,100 in the second half of 2021. "Prospectively I do think this is very positive," Lehman said. "Business starts were level for years, they spiked and it doesn't seem like that's abating." Ercolano too is encouraged. While acknowledging that a relatively small number of businesses formed in any given year will go on to have a significant impact on the state's overall economy, Ercolano said the proliferation of many startup enterprises can help collectively revitalize struggling cities and towns. "The impact they have on their communities is more important," he said. "They're filling vacant storefronts, bringing some vitality back. The effect is immeasurable. It gives people confidence to be active in those areas, and it generates more wealth in those communities." CT sees surge in new business starts Year CT business registrations 2010 25,268 2011 25,798 2012 27,772 2013 27,585 2014 28,298 2015 28,797 2016 30,971 2017 32,071 2018 34,588 2019 36,323 2020 39,570 2021* 47,584 * 2021 data only runs from January through November. The rest of the years are full-year data. Source: Secretary of the State's Office/CTData Collaborative

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