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This profile was last updated on 1/10/15  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Phil Bakes

Wrong Phil Bakes?

Co-Managing Partner

BBX Capital Partners
Phone: +61 * **** ****  HQ Phone
BBX CAPITAL CORP
916 Pacific Highway
Gordon , New South Wales 2072
Australia

Company Description: BBX Holdings Limited is Australia-based company. The Company is engaged in management and operation of the BBX Trade Exchange. BBX facilitates the exchange (sale or...   more
Background

Employment History

Education

  • BA
    Harvard Law School
  • JD , magna cum laude
    Harvard Law School
188 Total References
Web References
Phil ...
www.bbxcapital.com, 10 Jan 2015 [cached]
Phil Bakes Co-Managing Partner, BBX Capital Partners
Phil Bakes is Co-Managing Partner of BBX Capital Partners (BBXCP), having served in that position, together with Jarett Levan, since BBXCP's inception. Bakes has over 30 years of experience in all aspects of private equity investing,...
Phil Bakes is Co-Managing Partner of BBX Capital Partners (BBXCP), having served in that position, together with Jarett Levan, since BBXCP's inception. Bakes has over 30 years of experience in all aspects of private equity investing, as well as operations, turnarounds and growth strategies in diverse industries. He has been associated with BBX Capital and parent company, BFC Financial Corporation, since 2004, including serving as president of BFC's private equity arm, Snapper Creek Equity Management LLC, and as Managing Director of BFC.
Bakes previously co-founded and served as president of a boutique advisory and merchant banking firm with offices in Miami and New York, with a wide spectrum of engagements ranging from Fortune 100 companies to lower-middle market private operating businesses. During that time, Bakes also co-founded in 1997 and led as CEO until its sale in 2003 a travel industry consolidation which by its third year of operations had grown primarily through over 20 acquisitions of mostly family-owned businesses to one of the nation's largest value-added leisure travel providers with offices throughout the United States and overseas.
In the 1980s Bakes served in the airline industry, including president/CEO of Continental Airlines and Eastern Airlines, positions from which he led and oversaw all operations, helped engineer a major turnaround and reorganization, and participated in restructurings, numerous acquisitions, mergers and divestitures during the airline industry's decade of post-deregulation adjustment and consolidation.
Bakes grew up in Chicago, Illinois, graduated from Chicago's Loyola University and Harvard Law School where he was Articles Editor of the Harvard Law Review. Bakes served in the public sector in Washington, D.C., including as a Watergate Special Prosecutor, general counsel to a federal regulatory agency and counsel to the U.S. Senate Antitrust Subcommittee.
2000 ATME Atlas Awards
www.atme.org, 15 Jan 2015 [cached]
LIFETIME ACHIEVEMENT TO PHIL BAKES OF FAR & WIDE The recipient of ATME’s most prestigious honor, the ATLAS Lifetime Achievement Award, Phil Bakes, president and CEO of the new travel company, Far & Wide, began his early career as a Watergate Special Prosecutor. His entry into the travel business began as counsel to the antitrust subcommittee of the U.S. Senate Judiciary Committee, where he helped to spearhead hearings on airline deregulation and to write the airline deregulation act.
His long list of career highlights continues as general counsel with the Civil Aeronautics Board during deregulation of the U.S. aviation industry. In 1980, he joined Texas Air Corporation, where he helped start up New York Air, and acquire Continental Airlines. While president of Continental he is credited with leading the company out of bankruptcy, and ushering in substantial growth—the airline’s most profitable period in its 50-year history. In 1986, he became president and CEO of Eastern Airlines, where he implemented major restructuring, asset sales, cost reductions, streamline operations, and revamped the entire marketing program.
During his decade in the airline industry, Bakes and his colleagues led many notable initiatives, including a project called Airport of the Future, which was the precursor to electronic ticketing; simplified peak and off-peak pricing, which is credited with turning around Continental; and increasing travel agent market share in System 1 and Amadeus.
In 1990, Bakes founded and was president of Sojourn Enterprises Inc., a Miami-based advisory and merchant banking firm. In 1997, he cofounded Travel Industry Acquisition, the predecessor of Far & Wide Travel.
“Far & Wide’s goal is to provide a lifetime of enriching travel experiences for individuals, families, and groups to destinations around the world with an emphasis on exceptional customer service and destination expertise,” remarked Madigan Pratt, executive vice president with Trinity Communications, who presented the award. “This is being done by a series of acquisitions that allow Far & Wide to offer a wide range of value-added products and to address growing consumer needs.”
“Phil’s accomplishments have earned him numerous honors, including being named Tour Operator of the Year by Travel Agent magazine. We would like to add to that list of honors by presenting Phil Bakes with the ATME Atlas Award for Lifetime Achievement,” Pratt said.
In accepting the award, Bakes remarked that this is probably the most challenging time in the travel industry because of the new breed of traveler and the dramatic changes in technology. “The baby boomer, who is savvy, smart, and demanding, is changing what we have to do to be successful. It requires a successful travel company to have tremendous product development and product diversity to deliver that product through its own style and consistency.”
Bakes noted that Baby Boomers do not want escorted motorcoach tours, which they say is for their parents, but that they love group travel centered around a common interest, such as wine, food, art or biking. Just as airlines and cruiselines have consolidated, Bakes’ aim with Far & Wide is to consolidate the packaged tour segment of the travel industry. “The U.S. tour business is estimated to do $23 billion a year in revenue. But there’s 2,000 significant tour operators,” Bakes pointed out. “Consolidation is only our means to an end, which is to be the leading travel provider of a lifetime of enriching travel experiences,” he said. He also noted he was a little nervous in receiving this award, based on his successful career. “Success comes from a lot of hard work, good planning and execution, but also through a lot of good fortune. I know how fickle good luck can be,” he said.
Snapper Creek Equity Management
www.snappercreek.com, 3 Aug 2014 [cached]
Phil Bakes, President, Snapper Creek Equity Management, LLC Phil Bakes is president of Snapper Creek Equity Management, LLC (www.snappercreek.com), a post held since the company's inception. Snapper Creek is a private equity and advisory firm, investing in and acquiring diverse mid-market operating businesses and engaging in various business advisory assignments. As a subsidiary of BFC Financial Corporation, Snapper Creek actively monitors select BFC portfolio companies. Mr. Bakes previously served from 2004-2008 as the Managing Director of Snapper Creek's parent company, BFC Financial Corporation, responsible for business development and major financings.
Prior to BFC, Bakes served as president from 1990 to 2004, of a boutique advisory and merchant banking firm he founded with offices in Miami and New York, with a wide spectrum of engagements ranging from Fortune 100 companies to lower-middle market private operating businesses. During that time, Bakes co-founded in 1997 and led until its sale in 2003, a travel industry company which by its third year of operations had grown primarily through numerous acquisitions to one of the nation's largest value-added leisure travel providers with offices throughout the United States and overseas, providing a wide variety of travel packages to over 90 countries.
In the 1980s Bakes served as a top executive in the airline industry, including president/CEO of Continental Airlines and Eastern Airlines, positions from which he led and oversaw all operations, helped engineer a major turnaround and reorganization, as well as participated in numerous acquisitions, mergers and divestitures during the airline industry's decade of post-deregulation adjustment and consolidation.
Bakes grew up in Chicago, Illinois, graduated from Chicago's Loyola University and received a law degree from Harvard Law School where he was Articles Editor of the Harvard Law Review. After briefly practicing law in Chicago, Bakes served in the public sector in Washington, D.C., including as a Watergate Special Prosecutor, general counsel to a federal regulatory agency and counsel to the U.S. Senate Antitrust Subcommittee. He also was Deputy Campaign Manager in 1979-1980 for the late Senator Edward M. Kennedy's U.S. Presidential campaign. In 2001, he was awarded the Ernst & Young Entrepreneur of the Year Award and The Association of Travel Marketing Executives (ATME) honored Bakes in May 2000 with their celebrated Atlas Award for Lifetime Achievement.
Bakes serves on both corporate and non-profit boards, is a member of World Presidents' Organization ("WPO") and, prior to that, was a member since 1985 of Young Presidents' Organization ("YPO") He is co-founder and former chairman of the South Florida Strategic Forum, a group of entrepreneurs, CEO's and C-level executives who meet regularly to share their networks, learn from other business leaders and support the business pursuits of fellow members.
"It was a zero-sum game," said ...
www.sunflowertravel.com [cached]
"It was a zero-sum game," said Phil Bakes, who was chief executive of Continental and Eastern Airlines in the 1980s and is now chairman and chief executive of Far and Wide Travel in Miami.
...
"It was a zero-sum game," said Phil Bakes, who was chief executive of Continental and Eastern Airlines in the 1980s and is now chairman and chief executive of Far and Wide Travel in Miami.
BFC - Management Team
www.BFCFinancial.com, 14 July 2008 [cached]
Phil Bakes, Managing Director
...
Phil Bakes, Managing Director
Phil Bakes joined BFC Financial Corporation as Executive Vice President & Managing Director in January 2004 to spearhead BFC's business development and future growth.
Mr. Bakes' career spans diverse industries and roles, including holding the top operating positions at two public companies, as well as both leading and advising merger, acquisition and financing activities in several industries.Prior to joining BFC, he was Co-founder, Chairman and CEO of a privately held leisure travel company, which grew through 21 acquisitions to one of the largest in its sector.He also served as president of a boutique Miami and New York based advisory and merchant banking firm, Sojourn Enterprises, which he founded in 1990.In the 1980s, Bakes held several senior posts in the US airline industry, including president of Continental Airlines and Eastern Airlines.
Mr. Bakes holds a BA from Chicago's Loyola University and a JD, magna cum laude, from Harvard Law School.Mr. Bakes began his professional career after law school in the public sector in Washington, D.C., serving as a Watergate Special Prosecutor, general counsel to the Civil Aeronautics Board and counsel to the U.S. Senate Antitrust Subcommittee.
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