Words of Wisdom from Two Seasoned Timeshare Executives
Bill Ryczek and Gordon McClendon are both in the timeshare business, but they are leaders of companies that rarely work together. Ryczek is a partner in Colebrook Financial, which, since 2003, provides a variety of loan products to timeshare developers and McClendon is CEO of SPI Software, which offers state-of-the-art business application software for the industry.
From their many years in the timeshare industry, Bill and Gordon know each other well, and at the recent ARDA leadership conference in Washington, D.C., Bill asked Gordon to be the subject of a Colebrook Conversation, in which Colebrook’s partners probe the minds of leading executives in the timeshare /hospitality industry.
Bill: Gordon, you recently orchestrated the sale of SPI to Kingsway Financial. You were uniquely qualified to put that transaction together since, prior to your career with SPI, you were involved with the capital markets for many years.
Gordon: That’s correct. I began the timeshare aspect of my career following another career as an actuary running a major financial derivative trading firm – with offices from New York to Tokyo. I held a leadership position at Chicago Mercantile Exchange for many years, having the distinction of being elected to the board by the highest vote total ever. After spending 27 years on Wall Street and then trying unsuccessfully to retire, I embarked upon a second career at SPI software. Karl Lang, the founder of the company, asked me to join him and I came aboard in 2000 in the Systems Products Division.
Bill: After Karl’s unfortunate passing, you were named CEO. What led to the decision to sell SPI?
Gordon: I recognized that SPI needed an influx of capital to facilitate the growth that I envision. We are doing a superb job with our existing customers, but I think we can grow both regionally and vertically. To accomplish this, it was critical to put the company in stronger financial hands. Kingsway Financial Services (NYSE:KFS) is a public company based in Chicago. They are a holding company in the car insurance and car warranty business, and their analysis showed them that SPI, because of our strong customer base and our track record of expansion, is a business with very strong growth potential.
Bill: How will the company be managed under the new ownership?
Gordon: Kingsway has already proved to be a great asset in their commitment to growth. Look for solid future growth from SPI. Marketing is important, but you must have a great product to sell, and we pride ourselves on product development.
Bill: You and I have a common interest in baseball. I’ve written several books on the history of baseball, and you were named after a famous baseball announcer. Can you compare your role at SPI with that of a baseball manager?
Gordon: I’m like Casey Stengel—the Casey Stengel of the championship Yankees, not the Mets. Casey couldn’t hit the ball, but he could tell Mickey Mantle where Willie Mays might hit it. At SPI I hire the Mickey Mantles of our industry and tell them where I think our customers might hit the ball and how they might catch it. But unlike Casey, the people on my team have a say in how we operate. I might be able to tell them where the ball might be hit, but they’re the ones who are going to catch it.
Gordon McClendon, Bill Ryczek, and their companies remain connected in more ways than baseball. They are both intrepid leaders in the timeshare “game,” with a vision for the future fueled by a total dedication to the customers they serve.
