There is no limit to what can be accomplished if one does not care who gets the credit. – Father Strickland 1863


We believe that great projects are the result of great teams that deliver both the expertise and the passion to achieve excellence. Leadership requires the collaborative commitment of like-minded team members. The foundation of a successful team lies in its ability to communicate effectively and efficiently. As the development leader, our mission is to communicate our vision with confidence and clarity, be accountable for each team member’s success, and execute each project with integrity.


Stuart Fearnley

Founder, CEO and President

Stuart Fearnley is a career-long property development executive with 33 years of broad international experience in the real estate development, design and construction practices. Stuart has focused within the luxury hospitality development sector for 25 years and has held leadership positions at Four Seasons Hotels and Resorts as Senior Vice President Design and Construction, at MGM MIRAGE Hospitality as Executive Vice President of Development and since 2006 as Founder, CEO and President of Alderock.

During his career at Four Seasons, Stuart’s leadership contributed to the company’s growth from 21 to 67 hotels. By the time of his departure from the company, he had managed teams responsible for development services of 66 Four Seasons properties. At MGM Stuart was charged with the responsibility to create and lead a multi-national development team to grow three new non-gaming international luxury hotel brands.

Prior to his career in hospitality development, Stuart enjoyed a successful career in commercial real estate development. Notable accomplishments include positions as a key development team member responsible for a three million square-foot mixed-use office and retail development in Toronto, Canada, known as Brookfield Place; and as a development team leader during Cineplex Odeon Corporation’s early years, conceptualizing and building multi-screen movie venues across North America.

The breadth of Stuart’s real estate career spans the extremes of complex restoration and re-development of historic boutique hotels to the development of innovative modern office skyscrapers.

Karen Kogut

Executive Vice President – Design Development

With equal parts entrepreneurial business management and creative design acumen, Karen Kogut’s talent of turning passion into successful careers has taken her on a path that includes multi-unit store retailer, e-commerce business owner and luxury hospitality interior designer.

After graduating from the University of Texas at Austin, Karen worked in the retail industry, earning her way to General Manager for a chain of 28 nationwide department stores. She was also co-owner of a wholesale and retail wine and spirits store chain.

In pursuit of a desire to express her creative energies, Karen returned to school, earning an interior design degree. She went to work for Wilson & Associates, Dallas, an internationally acclaimed interior design firm, designing and project managing five-star hotel projects around the world. Her well-honed creative, business and people management skills enable her to work successfully with a variety of cultures and clients.

Karen is a true Renaissance woman. In the early days of e-commerce, she envisioned, created, developed and implemented a luxury retail business venture. Her accomplishments have been recognized in top publications that cite both her interior design work and business expertise.

Along with Karen’s business career, she prioritizes time to contribute to her community, currently serving as Board President for the local chapter of an international non-profit organization.

Now a principal of Alderock, LLC, Karen is a key member of the leadership team as Executive Vice President, leading the firm’s design management activities. Karen’s confluence of talents and skills – collaborative leadership, congenial team player, smart businessperson and creative entrepreneurship – represents a unique and rare ability to bring both aesthetic and value to the bottom line.

Advisory Board

Keith Gillam

Construction Business Affairs

Keith joined Alderock’s advisory team in 2006 and provides valued guidance in structuring construction business affairs for the company. Keith’s business association with Stuart Fearnley extends over two decades.

Keith is considered by many of his contemporaries, both in Canada and internationally, as a construction industry leader, pioneer and entrepreneur. Currently Chair of the Gillam Group, his extensive background in the construction industry includes being the former Chair of the Toronto Construction Association, the Chancellor of the Construction Institute of Canada, former Chairman of the Vanbots Construction Group – one of Canada’s largest construction firms undertaking projects in five countries – and past Chairman of Carillion Canada Inc., a subsidiary of Carillion PLC of the United Kingdom.

Keith is the recipient of numerous honors, including the Queen Elizabeth II Diamond Jubilee Medal, a fellowship in the Chartered institute of Building and the Robert Stollery Award for individual leadership and excellence in the construction industry. He has been the director of many public and private companies, and served as an advisor for the 2008 Canadian Federal Budget.

Keith is a graduate of the Rotman School of Business at the University of Toronto and holds an Honorary Degree for initiating the first construction degree program in Canada, at George Brown College.

Roy A. Paul

Hospitality Project Finance

Roy joined Alderock’s advisory team in 2009 and provides trusted counsel for both hospitality feasibility and project financing. Roy’s business association and friendship with Stuart Fearnley reach back to 1990, when the two were colleagues at Four Seasons Hotels and Resorts.

Roy is a highly experienced hotel industry executive. Throughout his 30-year hospitality career, Roy has played a leadership role in all aspects of hotel and resort development. He has developed, sold, purchased and asset-managed a broad range of properties on a global basis. Roy has both led and participated in hotel investment transactions worth over €500 million Euros.

Roy is currently serving as an advisor to a London-based family office and is a partner in the start-up of an adventure travel concept. Over a period of 23 years, Roy led the development function at both Orient Express Hotels – now Belmond – and Four Seasons Hotels and Resorts. At Four Seasons he led a team that was responsible for the establishment of over 60 hotels and 11 branded residences and took the company into 32 new countries. Roy has also held senior positions at the hotel consulting firms of PKF and Harley-Little – now Cini-Little – and was a senior executive within Loblaws Companies, Canada’s largest food wholesaler and retailer. He is a regular speaker at hospitality industry forums.

Roy holds an MBA from York University, Canada and a Bachelor of Commerce degree in Hotel and Food Administration from the University of Guelph, Canada.

David Van Kalsbeek

Marketing and Branding

David joined Alderock’s advisory team in 2012 and provides strategic counsel on matters relating to project marketing and branding.

David has established himself as a leader in hospitality brand development and global execution of branded products and services. He has been at the forefront of experiential hospitality and the development of immersive entertainment experiences in the context of travel and hospitality. As a pioneer in the field of emotional brand loyalty, David brings expertise in breaking the mold of progressive functional luxury and replacing it with experiences catering to higher level needs of the mind and heart, as well as the body. He is also well versed in the global execution of branded products and services including sales, marketing and strategic planning.

David is the founder of DVK Enterprises, LLC, a consulting firm specializing in marketing programs, brand positioning and digital strategies for the hospitality and gaming industries. He most recently served as Executive Vice President of Sales and Marketing for MGM Hospitality, a division of MGM Resorts International, focused on bringing Las Vegas-inspired brand experiences and entertainment content to destinations throughout the world. Prior to his career at MGM, David was Corporate Senior Vice President of Sales and Marketing with Starwood Hotels and Resorts and, with ITT Sheraton, advanced his career from management trainee to Corporate Senior Vice President of Marketing and Strategic Planning over a 15-year period.

David holds a Bachelors Degree in Economics from Yale University.