Bengaluru as a hospitality market
For the hospitality market in Bengaluru the major business flows from IT & ITES related business. It is a GDS driven market and close to 90 per cent business is moved through GDS. Robust RFP process is followed by companies. Bengaluru is the house for big daddies – IBM, Oracle, Cognizant, Amazon who still command business in city.
Influx of many German companies and other ancillary business companies are associated with them. Ease of travel and visa: The number of e-tourist visas issued reached 1.7 mn in 2017-18, accounting for approximately 17 per cent of total arrivals.
Bengaluru was amongst the fastest growing hotel markets in 2018. The city saw a healthy mix of increase by 3.9 per cent in occupancy and 4.3 per cent increase in ADRs. As a result, RevPAR grew by 10.6 per cent y-o-y while supply grew by 7.0 per cent. Bengaluru is anticipated to witness an influx of almost 2004 rooms in 2018-19. It has an existing supply of 15,390 rooms and proposed supply of 4180 rooms in the next three years.
Combined with opening of nearly 2,000 rooms including a large number in the upscale and luxury segment, will weigh down on the market. The performance of the hotel market in Bengaluru is at risk of consolidating in reaction to these trends in 2018. Large hotels with big banqueting facilities opened in the city like Hilton, Conrad, Renaissance & Sheraton Whitefield which would offer new options for the residential & large conferences in city and dilute the group ADR in the city.
USP of Taj Yeshwantpur
Taj Yeshwantpur is a perfect destination for urbane corporate travellers seeking an intelligent mix of business environs & vibrant pleasure options. Making Taj Yeshwantpur is the ideal stop over for the industrious lot, the pleasure seekers. The hotel is spread across 3.5 acres encompasses the highest inventory of 327 spacious and luxuriously appointed suites and rooms. Taj Yeshwantpur, Bengaluru is situated near Peenya, one of the largest industrial areas in Southeast Asia.
Some of the city’s well known educational institutions, world-class medical facilities, Tech parks, key corporate headquarters including the World Trade Centre, Manyata Tech Park and Bangalore Exhibition Centre are the emerging hotspot of North Bangalore.
The hotel is strategically located 33 kms from Kempegowda International Airport; 30 minutes ride to the heart of the city, and 11 kms away with metro access.
Lesser known history about the hotel is that the hotel features an inner courtyard with a 200-year-old Ficus Bengaliensis tree. Taj Yeshwantpur is a Pet friendly hotel with special service design created for pets. The hotel is positioned as premium corporate convention hub, and boasts over 22,000 sq ft of dedicated conferencing and banqueting facilities (indoor & outdoor) which makes it the ideal and only choice for hosting large format events and conference. The highlight of the banqueting spaces also features one of the largest pillarless banquet venue with a pre-function area of 11,300 sq ft and overlooks the 200-year-old Banyan Tree in the central courtyard.
Taj Yeshwantpur has been awarded by EARTHCHECK with a Silver Certification, recognising the hotel’s commitment towards the environment, social sustainability and responsibility towards our employees, vendors, guests and immediate neighborhood.
For the Phase-I, we identified 3000 sq ft area of vacant space located in the hotel terrace for the commissioning and implementation of solar panel to generate 255 units per day or 93000 units per year used for the partial building lighting and saving Rs 8.38 lakhs per year. In continuation, we have planned for Phase-II with a capital expenditure for the forthcoming year to expand the solar panelling project in 4500 sq ft additional terrace space to generate additional 350 units per day and additional Rs 11 lakhs annual savings. Despite increase in room occupancy by 5 per cent and increase in overall F&B average daily covers by 17 per cent for 2018-19 vs FY2017-18 (H1), the total fuel, power & light average cost per month was brought down by 8 per cent against previous year. Taj Yeshwantpur, Bengaluru was recognised for the Energy Conservation efforts by The Association of Energy Engineers (AEE) Atlanta, USA was awarded the Best Energy Project of the Year 2017 in the Asia Subcontinent Region.
My Management Mantra
I believe there is not one style of leadership that is appropriate for every occasion or situation. My mantra as a leader are three golden rules I endorse. One is to ‘Lead’ by example from the front by taking action, demonstrating what needs to be done in an organised manner. I lead by a facilitating open communication and try to bring the best in every team member. It is known that talent works best when their strengths are identified and utilised for the right job and I personally get involved in selecting talent for various level. And lead by delegating and making others better by finding their strengths and giving them a chance to do what they are best at. I also believe in creating a culture of trust amongst my colleagues to achieve common organisational goals and shared vision.
Overall my strengths lies in listening and responding constructively towards my team and finding innovative ways to improve existing systems, procedures and practices to help bring out the full potential in the people working in the organisation. Understanding people in the team in terms of knowledge, ability, willingness to do and be ready to adapt my approach to handle any situation effectively must suit the occasion. And of course, the due efforts of the team receives frequent and meaningful recognition or feedback.
This achievement comes from our employees who are our most important brand ambassador of Taj Yeshwantpur. With an average age of our workforce at 25 years, we look at engaging the young millennial’s at work with a culture of accountability, goal achievement and recognising the contributions from the general manager’s office through weekly appreciations and town hall forums. These crucial interactions have factored in the positive employee morale at the workplace, echoing in the Employee Satisfaction and Engagement survey conducted by Gallup, India with an 18 per cent increase from the previous year. The culmination of our efforts resonate evidently in several parameters such as Confidence in Leadership ability scored at 96 per cent; Leader demonstrates Open & participative leadership style at 93 per cent; Empowered to exceed customer expectations at 95 per cent; Everyone demonstrates mutual respect at 95 per cent, and Satisfied with the available facilities at 98 per cent score.
Leading the team forward and geared for the upward trend in our hotel performance, we have shown growth across all parameters with our hotel occupancy rising over 5 per cent and total revenue with a 14 per cent increase against last year. We have created a buzz in the dining options and banqueting facility with a 14 per cent growth in our covers over last year that has boosted F&B revenue contribution to over 26 per cent. It is a proud moment to the entire team to accomplish an EBITDA growth of 34 per cent as against the previous year.