The Statler Tattler

Over three generations, the Saunders family -- which owns and operates, among other things, the Copley Square, Lenox and Park Plaza hotels -- amassed a fortune in the hotel and real estate businesses through the expedient of buying potentially valuable property at undervalued prices and then managin...

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Bibliographic Details
Published inBoston business (Boston, Mass. 1985) Vol. 2; no. 3; p. 75
Main Authors Kadzis, Peter, Hackett, Dan
Format Journal Article
LanguageEnglish
Published Boston Bergenheim & Associates 01.05.1987
Subjects
Family owned businesses
Hotels
New England
Personal profiles
Real estate companies
Saunders, Donald
Saunders, Irving
Saunders, Jacob
Saunders, Roger
Ullmann, Liv
MA
US
Boston
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Summary:Over three generations, the Saunders family -- which owns and operates, among other things, the Copley Square, Lenox and Park Plaza hotels -- amassed a fortune in the hotel and real estate businesses through the expedient of buying potentially valuable property at undervalued prices and then managing it prudently until the market recognized its true worth. If their story has a moral it's this: That honest profits enjoy a poetry all their own, no matter how prosaically they are achieved. But real profits, like true poetry, often exact a price. And in the case of the Saunders', that price was a family fissure. For in imagining and executing the family's most notable fiscal feat -- rescuing the Statler Hilton before it was entombed 12 years ago and transforming it into the bustling Park Plaza -- tensions long percolating between the Saunders brothers, Roger, 58, and Donald, six years his junior, began to erupt. (excerpt)
ISSN:0886-0033