Shaner Corp

Source: Energy Digital

Date :3/18/2008 6:11:58 AM

Shaner Corp has found that hard work, a commitment to growth and a genuine concern for customers pays off. Learn more about its unique philosophy

Written by Ian Armitage and Produced by Amber Sweeney

With a rich tradition that dates back three generations, Shaner Corp has found the formula for consistent success: it works hard and is committed to growth, showing a genuine concern for customers and its employees.

This philosophy has been the cornerstone of the company since its formation and defines it as an organization. Indeed, when the Shaner brothers, Lance and Fred, began to invest in the real estate industry way back in the 1970s, they lived this philosophy and it was their initial achievements that have set the course for what is today a highly diversified group of companies.?

Growth philosophy

Shaner, which conducts business through five operating divisions, including resources, hotels, solutions and investments, today participates in the energy production, hospitality, accounting services and equity investment market, aggressively seeking out new opportunities, which will complement the expertise and experience of its existing, knowledgeable management team.

It has a conservative investment philosophy that targets long-term, sustainable profitability and also maintains a family friendly work environment where employees are encouraged to grow professionally and make daily contributions to the company’s success - a rarity in today’s dollar greedy world.

“Shaner has always been, and will continue to be, a growth-opportunistic company interested in investing in quality assets for the long term,” says the company’s corporate website.

Ambitious company

By uncovering new opportunities and efficiently managing existing assets, Shaner is able to favorably position itself for ongoing growth and excellent profitability. It strives to be the employer of choice and will recruit and retain only the best personnel. It aims for honest dialogue and encourages questions. Importantly, risk taking is rewarded. The company also wants to ensure all clients are left with a sense of satisfaction and is willing to take responsibility in ensuring that happens.

The Shaner family of companies

Lance T. Shaner, a founding father of the organization, today serves as chairman and CEO of Shaner. A graduate of Alfred University, he provides the business strategy and entrepreneurial spirit for the unique divisions of Shaner. Under his leadership, the companies have completed over $750 million in transactions, growing into a highly respected business with over 2000 employees in the US.

Lance has extensive knowledge in working in fields such as finance and venture capital, including contract negotiation, acquisitions and strategic investment. He has achieved a number of successful initiatives over the years, including developing the award winning Williamsburg Square property in State College, Pennsylvania – a $32 million project consisting of three hotels, two restaurants and two ‘Class A’ office buildings.

As CEO, Shaner, who has also proudly served in a number of leadership roles in his community, is currently responsible for the overall management of the company and setting strategic directions for the company.

Community, it follows, is an important word at Shaner, which has a rich and long-standing tradition of giving back to the communities in which it does business. “We are passionately committed to community service and encourage our employees and associates to embrace this commitment, as well,” says the company.

A unique business

A truly unique business, Shaner has five subsidiaries; Shaner Hotels, Shaner Resources, Rex Energy, Shaner Investments and Shaner Solutions. It covers numerous sectors and has the kind of diversity necessary in today’s economy.

Shaner Hotels, the first and perhaps most famous company in the portfolio, is one of the foremost owner-operator companies in the hospitality industry. The current portfolio is made up of more than 20 properties in 15 states and total assets that exceed $260 million. New properties are constantly evaluated as the division continues a conservative yet opportunistic approach to growth.

Shaner is already an approved franchisee of Marriott International Inc., Hilton Hotels Corporation, and InterContinental Hotels Group, so is optimistic of further success in the sector (indeed, there are plans to build 15-20 new Marriott properties over the next several years). Obtaining backing from these world-renowned companies is a direct result of the organization’s commitment to quality and customer service philosophy.

Shaner Resources L.P., the second in the list of Shaner companies, holds all of the Shaner oil and gas assets. This is a rapidly growing business with investments in all of the Rex Energy Funds. This division of Shaner has a strategic, long-term focus on growth in the oil and gas business.

This rather naturally brings us onto Rex Energy, a private oil and natural gas company, which according to the website specializes “in the acquisition, operation and development of proven reserves on behalf of its equity-based limited partnerships.”

That leaves us with Shaner Investments and Shaner Solutions: Shaner Investments is the division that controls various funds supporting the development of hospitality properties and oil and gas assets. The Shaner Solutions division, on the other hand, initially developed to provide support to the Shaner companies, has grown into a dynamic business that provides comprehensive accounting, payroll and tax services to nearly 100 clients throughout the U.S.

Exciting times

Mr Shaner attributes the success his company has enjoyed to what the website calls “a conservative investment strategy focused on long-term profitability, a dedication to meeting the needs of customers, and the resourcefulness of the company’s talented people.”

This is an exciting time for the Shaner family of companies. All of the Shaner business operations are enjoying growth, which is the result of the company’s practices that promote a solid, conservative approach in conducting business and the principles of honesty and trust in the workplace.

The website adds: “Shaner companies believe that they offer employees, customers and investment partners alike a unique business experience and invite you to participate in their success.” It seems Shaner has found the right formula.