The Michigan State University School of Hospitality Business kicked off its 100th anniversary celebration in 2027 by hosting a reception in Chicago last month to coincide with the National Restaurant Association Show.
The celebration will continue throughout the year and next year with industry panels, alumni events, student showcases, new scholarships, and more to highlight the school’s influence on the hospitality industry. That influence has earned a No. 1 ranking for a U.S. public hospitality program (Cornell is the No. 1 private-school program) and a global network of more than 10,000 alumni.
One of those alums, John Theuer, has spent 40 years in the restaurant industry after earning both a bachelor’s and master’s degrees from the school. Much of his experience has been in finance, including nearly 18 years with Panda Express, as well as CFO at the Coffee Bean & Tea Leaf, CFO at Pizza Studio, CFO at Simms Restaurants, and more. He is now balancing consulting work with co-chairing the school’s anniversary celebration, and not just because he loves his alma mater, but because he believes such involvement is the best way to cultivate future leaders of the industry.
“The school has always emphasized alumni involvement. It’s table stakes to be involved and help the students so the industry continues to grow,” he said during a recent interview.
There are about 400 hospitality and tourism degree programs offered at U.S. colleges and universities. Theuer said MSU’s differentiates itself because it’s housed in the College of Business and having that knowledge is especially critical now. In the 1970s, the school was more focused on operations. It has since evolved to bring a bigger emphasis on topics like real estate.
“Business operations are the backbone of everything you're learning,” he said. “It’s going to set people up better for success if they have that basic business background. There is a much broader array of degrees now and that is out of necessity.”
The evolution of the curriculum has kept pace with the rapid evolution of the industry.
“You have to know how to bring in the right specialists for all disciplines and a good overall business sense,” Theuer said. “You’re no longer just an operator — you have to understand technology, marketing, real estate, technical skills, and that’s why the school has continued to evolve. When I see what’s going on with the school now, I have hope for the next generation.”
Theuer’s industry perspective
Though Theuer is focused on making sure there is plenty of pomp and circumstance for his alma mater’s milestone year, he is also spending more time reflecting on his 40-plus-year career in the industry. He started his journey in public accounting before joining Hilton Hotels, which made him realize hospitality is much more fun.
From there, he joined Acapulco Restaurants and then moved to Panda Express, where he spent nearly 18 years overseeing the finance function. During his time there, the Asian QSR grew from 90 locations to 1,400 locations.
“I call it my PhD in the restaurant industry,” Theuer said. “It was a great learning experience.”
The company was and continues to be founder-led by Andrew and Peggy Cherng, which Theuer said created a sort of “trickle down passion” to the rest of the team.
“The pride and passion they had of growing a brand and planting that flag in different states impacted all of us,” he said. “You don’t always get that in this business and to see your brand grow and prosper is amazing.”
Theuer has since moved into the full-service independent side but has witnessed the same changes the entire industry has in recent years, largely driven by technology integrations.
“The industry has typically lagged (with technology) so to see more emphasis on figuring out the right tech stack, whether it’s loyalty or third-party delivery or something else, that’s been a huge change,” he said. “But it’s still a people business and trying to get people interested in the business is very important, especially as it’s very challenging.”
Theuer points to higher costs and lower traffic as examples of those challenges and puts his consulting hat on to remind operators that the unit economics have to work before growth is on the table.
“Driving sales should always be first, but the rest of the PnL is challenged, so you have to manage from the top and bottom line,” he said. “Are your existing locations’ sales growing? Are they profitable? Does it make sense to do that next real estate deal or should you just focus on the four walls and fix the restaurants that you have? Earn the right to grow."
Though he is largely focused on the finance side of consulting, he also reminds operators that their biggest priority should be hospitality.
“The economics have changed, but one thing that hasn’t changed is this is a people business. It’s about how you make people feel when they’re in your restaurants and what they’re going to remember.”
For more information on the MSU School of Hospitality’s 100th anniversary celebration, visit: https://broad.msu.edu/hospitality-business/100-year-anniversary/
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