"I BELIEVE IN THUNDER BAY!"
Betty-Anne LaTrace-Henderson, Canada's Entrepreneur of The Year
By Sherry Aalto
Canada has been facing the most uncertain of times since the great depression of the 'dirty thirties' and Thunder Bay is no exception. We have not been immune to its' decided effects where loss of employment and diminished financial growth is concerned! But even in these most difficult times, when one feels that there is minimized hope to sustain a holding for our recognized spot on the map, a visionary, a true entrepreneur, finds belief in our city and our community that instinctually compels her to invest in the vision of her ideals.
Named Canada's Entrepreneur of The Year! Profiled in Profit Magazine and interviewed on Canada AM, Wednesday, October 14, 2009, Betty-Anne LaTrace-Henderson IS the President of Saskatoon-based, Airline Hotels and Resorts. Betty-Anne, who was once a teacher, with 'at risk children', left teaching and pursued a career in retailing, utilizing her knowledge in business. In 1994, when her father became ill, she joined him in the family hotel business and was made Vice-President of Airline Hotels and Resorts. The family business was created by her father in 1970. Betty-Anne assumed the post of President of Airline Hotels and Resorts, after the passing of her father in the year 2000. Certain resistance, she believed, would be encountered, firstly because of her gender and secondly because of the fact that she had been given this post without ever having to apply for it. She felt strongly that changes to the company, in the interest of competitive growth, would be severely challenged and jeopardized by the original, aging, all-male board of directors.Betty-Anne LaTrace-Henderson's first order of business was the immediate and dramatic reconstruction of the entire company, starting
with the dismissal of the board of directors
She, then, by careful analysis of her needs for the sustainable growth of the company, created a new, strong, board of directors. Betty-Anne selected only the best of experienced people with matching skills. Change was imminent and she didn't stop there. A new management team
of energetic, young and talented strategists was formulated.
Starting out owning only one hotel, a Travelodge Hotel, in Saskatoon, expansion for new growth under her aggressive and decisive direction, now included, as of May 2007, the acquisition and very tasteful renovations of the Valhalla Inn, here in Thunder Bay! When asked 'Why' the Valhalla in Thunder Bay?, Betty-Anne answered decisively, "It came across our radar screen. We were in the acquisition mode. We had a look at it. We believe in Thunder Bay and we think it has great potential otherwise we would not have invested what we just invested in this city through our renovations". Currently and collectively the family business owns four large, full service hotels and presides over a hotel-management division.
Betty-Anne comments that 'Often times women think we can't do something, and even though we are great multi- taskers, our problem is that we always step back and I was fortunate enough to grow up in a home where we were encouraged to try and most importantly, it wasn't
the successes, it was the failures we learned from. And if you failed, 'Why?' and go forward!'
Betty-Anne believes that, 'Even though the recession has had a huge negative impact on the economy of our country and the community, we have to turn negative into positive and relearn our values and what's important and use this new vision to create a stronger economy'. One
could almost say that we get the Test first and the lesson later! Future plans for the company is of course, to grow, which means more employment. According to Betty-Anne, she will be there during new growth in some capacity but is mindful enough to realize, that as a leader, it is important to know when to get out of the way and let new blood in!
As far as 'women in business', Betty-Anne believes that 'you earn respect whether you are male or female. We are all only limited by what we think we are limited by'.
Spearheading for new growth with her new teams by her side, Airline Hotels and Resorts topped $45 million as of October 31, 2008, up from $18 million three years prior and is considered the envy of the industry. The strategy which produces this level of success, according to Betty-Anne LaTrace-Henderson, is empowering every employee, from all
levels of management, to all associates, with encouragement based on the philosophy of 'Respect, Integrity, Teamwork, Entrepreneurship. All 1,000 of them!
Betty-Anne LaTrace-Henderson states "One of the biggest things responsible for our success is that I've learned to respect my gut", because of the newly created solid foundation consisting of carefully chosen advisors and strong and empowered employees.
