John Aboud to build Superior Hotels in the region

The Aboud name is well-known in Trinidad mainly because of the family’s business endeavours, but what do you know about John Aboud?

This Aboud is the chairman of Endeavour Holdings Ltd (EHL), which includes retail, food and entertainment businesses, chairman and lead investor of Superior Hotels TT Ltd – the company responsible for The Brix, Port of Spain – and chairman of Fouraime Enterprises Ltd, of the Five Islands Water Park in Chaguaramas.

Having this and even more accomplishments under his belt leads to many questions about his character, and speaking to Business Day, he gave advice, words of wisdom and some business titbits.

He also made sure to mention his brothers saying: “We – I have to say ‘we’ because my business is my brothers also, we are a team – we have varied business interests ranging from security services, facility management, cyber security, hotel development, family entertainment, real estate development and agriculture – quite a large mix, but each having a real place in our region today.”

Aboud then gave an insight into what a business mogul would think of daily.

“I am always thinking of what can go wrong and looking for ways of improving the efficiency and performance of my business units. I am also always thinking of ways to improve productivity and staff morale. I never stop thinking.”

He said he plans to boost and improve efficiency by understanding what needs to be done, looking at how it is being done, discussing the process and coming up with ideas to make it more efficient – though he warned that it does not always work that way.

With his entire family being business-centric, Aboud feels business was “the easy way out.” But nevertheless, the journey, for him, was filled with ups and downs, failures as well as successes.

“But you never give up and never let a bad day darken your vision and aspirations,” he added.

With that in mind, Aboud has a plan for expansion in his sectors, starting with the hotel business, in TT – one in San Fernando and one in Tobago; Guyana and Barbados. These are considered high capital projects with good partners, he said.

“When all are opened there will be close to 1,200 permanent employees.”

He added that one is already open, one under construction, to open next year, while another is under renovation and is set to open next year, as well two more in the planning stages.

“I am also always on the lookout to expand our real-estate business, looking for opportunities in TT and the wider Caribbean. Before any decision is made on real estate, all the ducks have to be lined up perfectly, because an error here will haunt you for years.”

Aboud is also working on expanding in agricultural investment, a green energy project, and deepening the security business into new areas such as cyber security.

On the green energy project, he confessed, “I know nothing about this business, but I instinctively believe it is something I should get involved in, on the advice from professionals. I know it will be successful, but this journey is long and hard, particularly when there are many things outside of your control.

"I cannot say much about this, except that it will be a solar project on a large scale…too early to say anything more.”

Though the Aboud name is inescapable in the business world and he has made waves in the industry, he said his first ambition was to be a teacher or an attorney.

“I think I would have been very good in either, but I have no regrets 40 years later.”

He ended with some words of advice: “Hard work, integrity and always keep your word and commitment. These are the foundation pillars of success in business, indeed life. And also be focused and sacrifice."

Using that advice, as at April 30, the fair value of the group’s investment properties totalled $907.8 million or 94.7 per cent of total assets. An audited financial statement on EHL's website – published over a week ago – said the company saw a net fair-value loss adjustment of $10.6 million in the consolidated statement of comprehensive income as a result of the revaluation of these properties.

For the comparative period last year, EHL reported that its revenue was affected by the factors mentioned above and resulted in a decline of $5.9 million from $84.7 million in 2021, compared to $78.8 million in 2022. That year, net profits without the fair-value adjustments were stable, at $30.9 million, compared to $30.8 million in 2021.

Last July 8, EHL acquired 100 per cent of the issued and outstanding shares of Massy Properties (Trinidad) Ltd, which owns two prime operating commercial properties in Port of Spain, which it was hoped would add to the profitability of EHL.