The Issue: When a CEO's Sacrifice Isn't Enough

When September 11 followed the dot-com bust, hotelier Chip Conley had to manage his way through a serious downturn in his business. Here are the tough choices he made

In 2000, Chip Conley was still at the top of his game. Over the last 15 years, the San Francisco hotelier had built up his company, Joie de Vivre Hospitality, into the third-largest boutique hotel chain in the country. He had 20 unique properties packed to the rafters with free-spending venture capitalists and dot-com entrepreneurs dotting the Bay Area. Early the next year, he published a book, complete with a forward written by Virgin Group impresario Richard Branson, earning him a splashy story in USA Today and a spot on the newspaper's list of "People to Watch in 2001."

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