“The New Gold Standard,” Written by Best Selling Author Dr. Joseph A.

CHEVY CHASE, MD - 06/05/08— Dr. Joseph A. Michelli, author of best selling business books including “The Starbucks Experience,” uncovers the secrets of world-class leadership in his latest book, “The New Gold Standard: Five Leadership Principles for Creating a Legendary Customer Experience Courtesy Of The Ritz-Carlton Hotel Company.” This is the first time the award-winning global hospitality and lifestyle company has shared such detailed information on its corporate culture and service philosophy. This includes discovering how to engage customer loyalty, measure results, and retain the best talent in a service economy. The 285-page, hardcover book, published by McGraw-Hill, is expected to be available in stores and online in early July.*

Simon F. Cooper, president and chief operating officer, The Ritz-Carlton Hotel Company, L.L.C., said, “Over the years we have been approached by many authors seeking to write about our company and examine the methodology we have used to make The Ritz-Carlton brand one of the most frequently recognized and critically acclaimed luxury names in the world. Only when Dr. Michelli came to us with his vision for telling the story did we agree to provide unprecedented levels of access to our Ladies and Gentlemen and customers. We believe sharing what we have learned will provide valuable lessons to any company seeking to improve its customer service, whether they are a small day spa or a Fortune 500 company.”

Dr. Michelli noted: “After my book ‘The Starbucks Experience’ made the global bestseller lists, I was approached by many companies asking me to profile them.  However, I created my own short list of corporations with a track record of exceptional customer experiences
—The Ritz-Carlton was at the top of that list. When I approached them with the idea, many conversations took place with senior management. The decision was made to provide in-depth access and to share a candid view of the company’s business practices, culture, strategy, breakdowns and challenges.” The author is an internationally respected and well known speaker and consultant whose clients include Nokia, The Hartford Insurance Group, and The UCLA Health System. He has been a guest on CNBC’s “On the Money” and CNN’s “Glenn Beck Show,” and has been interviewed frequently by the international media.

“The New Gold Standard” has been endorsed by many distinguished business leaders and authors including Kenneth Lewis, chairman and chief executive officer, The Bank of America, who termed the book “a valuable addition to business literature.” Ken Blanchard, coauthor of “The One Minute Manager,” described the book as “required reading for anyone who wants to learn how to create passionate employees and customers.” Future plans call for “The New Gold Standard” to be translated into a number of foreign languages including Japanese and Arabic.

The framework for “The New Gold Standard” is based upon five leadership principles that are responsible for the long-lasting success of The Ritz-Carlton: Define and Redefine; Empower Through Trust; It’s Not About You; Deliver “Wow”; and Leaving a Lasting Footprint.

Dr. Michelli drew his recommendations and conclusions from hundreds of frank, in-person and telephone interviews with hotel general managers and employees, guests, travel agents and groups including The Gallup Organization, which measures customer loyalty and engagement. While staying in Ritz-Carlton hotels around the world, Michelli compared the promise of The Ritz-Carlton brand with the actual performance of its hotels from San Francisco to Singapore.

In “The New Gold Standard” Michelli takes an in-depth look at how such an iconic brand stays relevant in changing times, the importance of over communicating company values, maintaining a vital and engaged work force, and transferring trust to empowerment. He also attended sessions of The Ritz-Carlton Leadership Center, an award-winning training facility for corporate executives and business owners. From that experience, the author identifies several key points which help explain the enduring reputation for excellence of the hotel company which traces its roots back to legendary hotelier Cesar Ritz in the early 1900s. The points include: understanding the ever-evolving needs of the customers; empowering employees by treating them with the utmost respect; anticipating customers’ unexpressed needs and concerns; enabling guests to design their own experience; and developing and conducting an unsurpassed training regime. At the end of each chapter, Dr. Michelli poses questions for readers to consider about their own business practices and corporate culture.

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 71 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe with future openings including Shenzhen, China; Dove Mountain, Arizona; and Lake Tahoe, California. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, which recognizes outstanding customer service. For more information, or reservations, contact a travel professional, call toll free 1-800-241-3333, or visit the company web site at http://www.ritzcarlton.com.

*“The New Gold Standard,” published by McGraw-Hill, is $24.95 (hardcover; ISBN-10-0-07-154833-5; ISBN-13: 978-0-07-154833-5. For author interviews, artwork, or excerpt information, contact Kenya Henderson, 212-904-3346, .(JavaScript must be enabled to view this email address).

Contact:
Vivian Deuschl
Corporate Vice President, Public Relations
4445 Willard Avenue, Suite 800
Chevy Chase, Md. 20815
Tel: (703) 941-6225
Fax: (703) 941-7492
Cell: (202) 255-5786
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