Type of business:Hospitality entrepreneurship
Main Achievements:Marylyn New is a millionaire businesswoman and one of the most powerful, creative, and influential business leaders in Australia with an approximate net worth of $1.88 billion.
Something interesting about the person:Marylyn New got divorced at a very young age and is a mother of four children. She is a single parent who takes care of her children and one of the richest mothers in Australia.
Marylyn Newhad a rough childhood, and she did not have excellent relations with his father for a long phase of her life. Her father, Ric New, believed that she did not deserve a place in his business because he thought that she was not capable of carrying huge responsibilities. She was discouraged as a child, and when she was an adult, she was not given any shares in her father’s business in building Midland Brick. Despite all the hardshipswhich she faced at her young age, she wanted to become an inspiration for people and do something she would be hugely successful in, and later, she accomplished it. She initiated her own business in Australia and became a millionaire businesswoman.
After the death of her father, Marylyn New constructed her business character and fate.From the part which she inherited, she bought Fremantle’sEsplanade Hotel in 1991 for $12.75 million in an economic downturn.Fremantle’s Esplanade Hotel is a 4.5-star luxurious hotelthat is perfect for business people and interested tourists. It is located on a captivating site and guarantees a pleasurable stay with lavish accommodation while offering numerous different ways to meet its guests’ requirements.She also owned Esplanade River Suites, located in Como inaugurated in February 1998.Esplanade River Suites is located on a beautiful site of historic Pagoda Ballroom, and this hotel meets every type of requirement of its guests while providing them a perfect, luxurious and comfortable environment. Later, she expanded her hospitality entrepreneurship business with the help of economic recovery that took place in the 1990s. In the 2000s,the hotel made huge profits and progress under the ownership of Marylyn New even in the period of the international financial crisis, during which a lot of great businesses and corporations were failing.
Marylyn New sold her Fremantle’s Esplanade Hotel in 2012 for $88.5 million to Singaporean company Ascendas,even when the hotel was making a considerable amount of money, and she got an impressive profit through this sale. She sold the hotel because of business issues, and some flexibility matters. She also sold Esplanade River Suits for $31 million. She gave up her shares in the share market, got retired, and settled in a beachfront house in Australia. Marylyn Newmade her business decisions right on time before she could become a part of the first business loss in the 1987 share market crash. She is a woman of wisdom who made progress in her business through efficient marketing and business strategies.
Marylyn New was a successful businesswoman who proved to her father, who did not give her any shares in building Midland Brick, that she could run a successful business and become one of the best business leaders. She faced many harsh challenges in her life but stood her ground firmly and became an inspiration for hundreds of people in Australia as well as beyond it. She is a role model for thousands of women in a way that women can earn a significant amount of wealth and be successful in what they do even if they are divorced and a single parent of their children just by working hard and remaining determined towards their goals.