Loews executive urges corporate cooperation

Kevin Rademacher

Friday, Nov. 19, 2004 | 11:01 a.m.

Jonathan Tisch, chief executive of Loews Hotels, told a convention of bankers in Las Vegas this morning that collaboration could be just as lucrative as competition.

"You can create success for yourself. There's nothing wrong with that," he said. "But understand you have a responsibility to create an enviornment where others can be successful as well."

Tisch recently wrote a book on partnerships -- "The Power of We" -- and he told the crowd that collaboration is even more important in an era of corporate scandal.

"We've done some things wrong in the business community," he said. "We need to set a tone where that kind of behavior is not OK. We need to work toether."

Tisch said partnerships are effective both inside and outside of the corporate environment, whether it's industry organizations working together on major common issues or training employees to meet corporate goals.

"There are ways we can do this together and all succeed," he said.

A tourism industry veteran, Tisch took the top spot with Loews Hotels in 1989. He has held a variety of other lofty positions with industry groups including his current tenure as chairman of NYC & Company, New York city's convention and visitors bureau. The duties of that position included the job of guiding New York Rising, which was charged with rebuilding the tourism industry in the wake of the Sept. 11, 2001, attacks.

Additionally, he was recently appointed to the U.S. Travel and Tourism Promotion Advisory Board.

Loews currently owns or operates 20 hotels and resorts in the United States and Canada. The newest hotel -- the Loews New Orleans Hotel -- was opened a year ago.

Loews Hotels is a subsidiary of Loews Corp., which has holdings that include insurance giant CNA Financial Corp., offshore oil and gas drilling rigs, a natural gas distribution pipeline and watch and clock maker Bulova Corp.