29 August 2014
BUTCH STEWART– THE DIAMOND DYNAMO
Caribbean World applauds Butch Stewart, a man whose support, vision and passion continues to energise his native Jamaica and the entire Caribbean region.
The Hon. Gordon “Butch” Stewart is the man who built a tourism empire in the Caribbean from the ground up, and today remains active in investments across the region. A long-standing friend and supporter of Caribbean World Magazine, his enthusiasm and business acumen, together with his big heart, are the winning combination keeping him contunally ahead of the game.
Having amassed a net worth circa US$1 billion, the Jamaican–born charismatic entrepreneurial founder and Chairman of the Sandals brand presides over one of the largest private sector conglomerates in the region, a broad portfolio boasting 24 properties on seven exotic Caribbean islands. He has been involved in the business since he bought his first humble hotel in Montego Bay back in 1981, yet he continues to delight and disarm everyone with his continuously growing empire. This year alone has seen the opening of new Sandals Resorts in Grenada and Barbados, with on-going plans to revamp and open others including the Royal Caribbean Spa Resort & Offshore Island in Jamaica in 2015.
Stewart remains devoted to promoting not only his native Jamaica but the entire Caribbean. The Caribbean region remains a great business investment and still offers “the single best holiday product in the world”, said Butch Stewart as he received yet another accolade from the industry, the 2014 Invest Caribbean Now Leadership Award in June at the Harvard Club in New York. He has won countless international awards as well as the admiration of his countrymen. He was elected President of the Private Sector Organization of Jamaica in 1989, and was inducted in its “Hall of Fame” in 1995. He served as a Director of the Jamaica Tourist Board for a decade, and as President of the Jamaica Hotel and Tourist Association from 1984 -1988.
He famously says, “Honestly, I’ve never worked a day in my life”, making his life all sound like non-stop fun, but his relaxed nature and infectious warmth belie a will of iron that has made a huge impact on the Jamaican economy.
He was the man credited with “saving the Jamaican dollar” in 1992. When the dollar began to slide leaving Jamaica in a dismal economic state, he came up with his “Butch Stewart Initiative”, which pledged a consistent flow of US$ earnings to check the depletion of hard currency in the official banking system. Jamaicans joined him in his patriotic efforts with the result that the dollar was made stable and confidence returned to the Jamaican economy.
He was also instrumental in saving Jamaica’s airline in 1994. Stewart led a group of investors to take leadership of Air Jamaica, the Caribbean’s largest regionally based carrier. It was a daunting task –with market share plummeting along with revenues.
When Stewart stepped in, he insisted on a passenger- friendly approach: on-time service, reduced waiting lines, increased training for all personnel, and champagne on flights to accompany an emphasis on better food. He also opened new routes in the Caribbean, brought on new Airbus jets and established a Montego Bay hub for flights coming from and returning to the United States.
Just as with Sandals Resorts, Stewart’s formula proved successful and in late 2004, Stewart gave the airline back to the government with an increase in revenue of over US$250 million.
Through Sandals Resorts he jointly sponsored the West Indies cricket team’s tour to the United Kingdom in 2000, showing Sandal’s long-term commitment to West Indies cricket and the further development of the game in the region. Sandals previously sponsored the West Indies cricket tour of the UK in 1995.
Although an astute businessman with a large fortune, he continues to care for those around him. Sandals Resorts International currently gives active support to more than 150 major projects in its host communities through its philanthropic arm, The Sandals Foundation. This support ranges from the building of schools and the paying of teachers, to providing hospitals with linens and bringing healthcare to the doorsteps of those who cannot afford it.
A staunch family man, Butch Stewart runs his business with his sons and daughter and still has his home – and his heart – in the Caribbean, which would be a much smaller place without him.
