Marylyn New has always been a bit different. For her next move she's stepping futher from the mainstream.
FREMANTLE entrepreneur Marylyn New doesn’t believe she has to prove anything anymore.
She’s built a hotel chain, employs nearly 400 people and had a crack at both federal and state parliamentary representation.
But the decision to put her two hotels on the market is not a signal that Ms New intends to put her feet up.
Far from it. Having satisfied herself that she can build and operate a traditional business, Ms New is now going to put her focus into something even more entrepreneurial – the extreme edge of alternative energy.
This new tack closely aligns with her personal view of the world, one in which she is guided by the heart and ‘knows’ when a decision is right for her.
The hotelier told WA Business News she decided to sell both her businesses – the Esplanade Hotel in Fremantle and the Esplanade River Suites in South Perth – after attending a group finance meeting in April to review the past quarter’s accounts.
“When I came out I knew I was ready to sell,” Ms New said.
She said the business was tracking well after withstanding the global financial crisis and she no longer felt the need to continue proving herself after 19 years in the hotel game.
“At my age I don’t want to carry the load of a big business and I don’t want a mortgage; I want to move out while I am still loving it and can contribute to the sale in the most positive way,” Ms New told WA Business News.
“I have achieved all my goals, I am 66 this year, I want to have another life; my way is to make decisions, not react.
“I had a purpose for the hotels. That was to prove my capacity in terms of business sense.
“I left school at 14 and girls were not meant to be in business; that is what my father (brick magnate Ric New) always said.”
Ms New said since making the decision to sell in April, the trajectory of the business had been better than budget, indicating the timing was also right to sell as a new owner would see the opportunity to benefit from a very positive outlook in WA.
“Australia is in a unique position,” she said.
“Our economy has weathered the crisis the best, our political situation is stable, WA is ready for another boom, the accommodation sector is very tight; this is an opportunity for local or international investors to get into our market, the best place in the world.”
So what next for Ms New?
She believes the next big thing is in energy sources that have not yet been discovered, which she refers to as “newable energy”.
“I am not talking about wave power or thermal, I am thinking about something more lateral or interdimensional than that.”
Ms New said she was exploring this field, though admits some traditional alternative energy sources may form a stage of her journey.
“I am focusing on the sale (of the hotels) but the way I do things is I put my intention out to build newable energy and the way the universe works is I will be led on the appropriate path.”
In a more conventional link to alternative energy, Ms New is building two sustainable houses – one in Cottesloe and one on a rural property in Chittering, where she has planted extensive gardens for food production.
The focus on alternative thinking often seems at odds with her strong links to the Liberal Party.
Over the years she has not just been involved in fundraising and administration for the party but was also a candidate for the federal seat of Perth, and unsuccessfully sought pre-selection for the state seat of Fremantle.
“I like the emphasis on private enterprise because I think the only way we can create material wealth is by allowing private individuals the freedom to create wealth and then pay taxes to help those who need it,” Ms New said.
