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GREAT PLACE TO WORK

BEST WORKPLACES CONFERENCE


     Wednesday, August 22nd 2012
A bit about me ….


The Corporate Professional


                                                        The Entrepreneur




                      Property of Lemon Tree Hotels Pvt. Ltd.
JRD Tata



  IIT - Delhi

                                                                         Rusi Mody




IIM - Kolkata
                                                           Ronnie Lobo



    Tata
Administrative
  Services                                                               The Perfect
                                                                           Hotel


                 Property of Lemon Tree Hotels Pvt. Ltd.
1999: Three Friends, A bottle of scotch and a retirement plan




  Plan A:
                                                               • Don’t have
Betting The                                                      catastrophic failures
   Bank
                                                               • Failure is a step down
                                                                 in the ladder of
                                                                 success

                                                               • The importance of
                                                                 plan B




                     Property of Lemon Tree Hotels Pvt. Ltd.
Plan B : A.T. Kearney




 Timing and
  A Second
   Chance




• The importance of
  Meritocracy and
  Incentivizing.

• Why is risk taking
  important?
Boredom and the accidental evolution of Plan C :
                       Retire as an Entrepreneur




       • Applying the ratios and creating the business model ( IDEA)
2002   • Getting the right team ( TALENT)
       • Funding the hotel (CAPITAL)



       •   The first Lemon Tree Hotel – Lemon Tree Udyog Vihar
       •   Right price, Right product in the Right Market
2004   •   Validation of the business model
       •   Asymmetric access to knowledge and excellent execution




                    Property of Lemon Tree Hotels Pvt. Ltd.
The Idea -Talent -Capital Tripod
               and the advent of Private Equity




   2006
$ 200 Mn.




  2008
$ 500 Mn




  2012
$ 750 Mn




            Property of Lemon Tree Hotels Pvt. Ltd.
Hotel Openings:
                                                           Aurangabad,              Hotel Openings:
                                                           Ahmadabad,                  City Centre
                                                            Indore and              North, Gurgaon
                                  Red Fox Hotels                                   (3) and East Delhi
                                                              Allepey
                                    Promoted
                                                                                                              APG Investment
                                                         Kotak Realty Fund
                                  Warburg Pincus                                                              Hotel Openings:
          Lemon Tree Hotel                               and Shinsei Bank
                                   Investment                                                                  New Delhi (2)
            Gurgaon (1)                                     Investment
                                  Hotel Opening:
                                       Goa




   ’02        ‘04         ‘05           ‘06        ‘07           ‘08         ‘09         ‘10            ‘11         ‘12



  Lemon Tree                                   Hotel Openings:
Hotels Promoted                                 Pune and East
                                                    Delhi
                                                                        Hotel Openings:           Lemon Tree
                       Hotel Opening:                                  Bangalore (1) and         Premier Brand
                        City Centre,                                        Jaipur                  Launch
                        Gurgaon (2)
                                                                                                 Hotel Openings:
                                                                                                 Hyderabad (2),
                                                                                                Bangalore (2) and
       Investment                                                                                  Chandigarh

       Hotel Opening

       Brand Launch                           Property of Lemon Tree Hotels Pvt. Ltd.
Where we are today….


Presently:

18 hotels and 1969
rooms in 14 cities
with 2200
employees

December 2014:

 26 hotels and
~3600 rooms in 16
cities with 4000
employees



   VISION 2020

 20,000 Owned Rooms
          +
20,000 Managed Rooms
          &
  40, 000 Employees
                       Property of Lemon Tree Hotels Pvt. Ltd.
Some recognition along the way….




  National Award 2011,    The NCPEDP – Shell Helen            Ranked in the Top 50          FHRAI
  for the empowerment       Keller Award, 2010 for           Large Organizations, in        Hall of
      of persons with        exemplary policies,              the 2012 study of the         Fame,
         disabilities    practices and belief in equal      Best Companies to Work          2010
                              rights and gainful            For by the Great Place to
                           employment for persons              Work Institute & the
                                with disabilities                Economic Times




  SATTE 2010           Republic of            Awarded to             Times Travel Honors,   NCPEDP Mphasis
“Best Mid-Market      Noodles, Goa            Lemon Tree               2011 Best Hotels –   Universal Design
   Developer        Winner 2010, 2011 Amarante Beach Resort                 Mid Range         Award 2011
                        and 2012       (only 650 hotels out of
                                      130,000 globally get this
                                               distinction)
                                    Property of Lemon Tree Hotels Pvt. Ltd.
… and a 50% plus year on year capacity growth driven by
                          engaged employees who drive guest retention.


        Lemon Tree Employee Satisfaction Survey:                                             Guest Overall Satisfaction Scores
                   Overall Scores %
                                                                        100%                                                                               94%
100                                                                     90%                          86%                88%
                                                                                                                                         91%

 90                                                                     80%
                                                                                   82%

 80                                                                     70%
 70
 60
                                                                        60%


 50                                                                     50%

 40     71         74        83       79           84                   40%

 30                                                                     30%

 20                                                                     20%
 10                                                                     10%
  0
      06-07       07-08     08-09   09-10     10-11                         0%
                                                                                  07-08         08-09              09-10                10-11             11-12



                                                         Repeat Guest Percentage for inventory older that 1 year

                                                        2,000                                                                                               40
                                                                                                                                                     38
                                                        1,750                                                      35                                       35

                                                        1,500                                        31                                                     30
                                                                                                                                   29
                                                        1,250                                                                                               25
                                                                                        22
                                                        1,000                                                                                               20
                                                                       18
                                                         750                                                                                     1,478      15
                                                                                                                               1,393
                                                         500                                                                                                10
                                                                                                             857
             Awarded to 15 out                           250     218
                                                                                  273
                                                                                               682
                                                                                                                                                            5


              of 18 operational                            0
                                                                07-08            08-09        09-10        10-11              11-12            12-13 E
                                                                                                                                                            0



               hotels in 2012.
                                                            Repeat visitors %
                                                            Count of rooms which have completed one or more years of operation
KEY LEARNING

Guests return ONLY
because of engaged
    and happy
   employees…




       Property of Lemon Tree Hotels Pvt. Ltd.
We understand that anyone can build a superior product
                 superior customer experience is impossible to duplicate



In India it is very easy for people to
replicate or develop a superior hotel
product because:
                                                                              Therefore, to
                                                                                 Attract,
1. Hotels are often built by irrational                                        Engage and
    investors with asymmetric access                                       Retain customers –
                                                                          SUPERIOR SERVICE is
    to influence or capital                                               the key differentiator.


2. ROCE is never a concern, the
    biggest factor often is ROE –
    Return on Ego


                                Property of Lemon Tree Hotels Pvt. Ltd.
Superior customer service comes only from the right talent …


So we -
Recruit for Attitude (Behavioral Competencies)
And
Train for Skill (Functional Competencies)
                                                                      The Lemon Tree Recruitment Matrix
                                                           Competence = Attitude (or desire) + Experience (or knowledge)
          Key Competence: Interview Skills



                                                        High




                                                                 Lemon Tree Hotels                   Lemon Tree Hotels
                                                                    (Current)                           (Desired)
                                             Attitude
                                                         Low




                                                                    Low                               High

                                                                                     Experience
                                                               Key Competence: Skill Development and Wisdom Transfer
Right talent which is effectively engaged…



                                                            Share the wealth

It is where Management devotes
                                                            Create a happy and caring work
    time and resources that
                                                            environment with unique practices
determines what is important and
 what is not to the organization
                                                            Communicate effectively

  And this is how we show our
                                                            Praise extensively and celebrate
employees that they are the most
                                                            the small wins
 important factor in our success

                                                            Mentor, coach and transfer wisdom
                                                            at each step

                              Property of Lemon Tree Hotels Pvt. Ltd.
Right talent which is effectively engaged
                                                                     in the correct role.

            The Lemon Tree Job Role Evaluation Matrix
                                                                                      Quadrant 2 are key employees who are
                                                                                      paid a premium over industry salaries
                                                                                      for the roles they perform.
               Critical




                                    1            2                                    Roles in quadrant 1 and 3 are where
CUSTOMERS




                                                                                      compensation is typically in the 70th
                                                                                      percentile of Industry standards.
               Non Critical




                                     4          3

                                                                                      The aim is to move high potential
                                                                                      employees from these quadrants to
                              Non Critical   Critical
                                                                                      quadrant 2

                                     BUSINESS
                                                                                      Quadrant 4 job roles are paid minimum
                                                                                      wage

                                                        Property of Lemon Tree Hotels Pvt. Ltd.
KEY LEARNING

Leadership begins
and ends with how
   you manage
 People, Risk and
    Reputation




      Property of Lemon Tree Hotels Pvt. Ltd.
People (Culture)




Risk                                         Reputation
       Property of Lemon Tree Hotels Pvt. Ltd.
Our culture/ethos is based on one simple equation

           In a descending hierarchy, the equation
           is:




                                             (Happiness Axis)
              Happy Employees
           = Happy Customers
           = Happy Investors
           = Happy Management




So Lemon Tree Hotels has two sets of customers


•   Employees: Served by management
•   Guests: Served by employees




                    Property of Lemon Tree Hotels Pvt. Ltd.
Creating a Virtuous Cycle of Happiness

                           EMPLOYEES




MANAGEMENT                                                GUESTS




                              INVESTORS

                Property of Lemon Tree Hotels Pvt. Ltd.
Business IS always about mitigating risk…




                                              Learn to
                                             Enjoy Risk




   Property of Lemon Tree Hotels Pvt. Ltd.
…. and managing reputation
Some dilemmas along the way ...




                                                Preserving the
High growth +
                                                small company
High Attrition =
                                               culture in a large
  Doubling of
                                                   corporate
Workforce each
                                                   structure
     year




   Loyalty
                                                Re-inventing
     vs.
                                                roles in a fast
 Competency
                                                   growth
                                                 environment
..and mistakes to be avoided.



Invest in people and people
related process FOR THE FUTURE
rather than for the present

NEVER use shortcuts for

Recruitment
Learning and Development
Performance Management
Promotions
Retention

Create a system of wisdom
transfer from Day 1
In conclusion, Business IS NOT always about profits

                     It is also about long term sustainability ..


                  PEOPLE




PLANET                                    PROFITS       Focus on
                                                        the Triple
                                                       Bottom Line
                                                       – It is a key
                                                       part of your
                                                          culture

             Property of Lemon Tree Hotels Pvt. Ltd.
…and what you want to stand for




   INSPIRE
             EMPLOYER of CHOICE




             TRUST
                             EXTENDING
                                THE
                               BRAND

INDIAN
                        SUSTAINABILITY



        Property of Lemon Tree Hotels Pvt. Ltd.
Thank You




   Property of Lemon Tree Hotels Pvt. Ltd.

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Patu Keswani - Founder, Lemon Tree Hotels

  • 1. GREAT PLACE TO WORK BEST WORKPLACES CONFERENCE Wednesday, August 22nd 2012
  • 2. A bit about me …. The Corporate Professional The Entrepreneur Property of Lemon Tree Hotels Pvt. Ltd.
  • 3. JRD Tata IIT - Delhi Rusi Mody IIM - Kolkata Ronnie Lobo Tata Administrative Services The Perfect Hotel Property of Lemon Tree Hotels Pvt. Ltd.
  • 4. 1999: Three Friends, A bottle of scotch and a retirement plan Plan A: • Don’t have Betting The catastrophic failures Bank • Failure is a step down in the ladder of success • The importance of plan B Property of Lemon Tree Hotels Pvt. Ltd.
  • 5. Plan B : A.T. Kearney Timing and A Second Chance • The importance of Meritocracy and Incentivizing. • Why is risk taking important?
  • 6. Boredom and the accidental evolution of Plan C : Retire as an Entrepreneur • Applying the ratios and creating the business model ( IDEA) 2002 • Getting the right team ( TALENT) • Funding the hotel (CAPITAL) • The first Lemon Tree Hotel – Lemon Tree Udyog Vihar • Right price, Right product in the Right Market 2004 • Validation of the business model • Asymmetric access to knowledge and excellent execution Property of Lemon Tree Hotels Pvt. Ltd.
  • 7. The Idea -Talent -Capital Tripod and the advent of Private Equity 2006 $ 200 Mn. 2008 $ 500 Mn 2012 $ 750 Mn Property of Lemon Tree Hotels Pvt. Ltd.
  • 8. Hotel Openings: Aurangabad, Hotel Openings: Ahmadabad, City Centre Indore and North, Gurgaon Red Fox Hotels (3) and East Delhi Allepey Promoted APG Investment Kotak Realty Fund Warburg Pincus Hotel Openings: Lemon Tree Hotel and Shinsei Bank Investment New Delhi (2) Gurgaon (1) Investment Hotel Opening: Goa ’02 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 Lemon Tree Hotel Openings: Hotels Promoted Pune and East Delhi Hotel Openings: Lemon Tree Hotel Opening: Bangalore (1) and Premier Brand City Centre, Jaipur Launch Gurgaon (2) Hotel Openings: Hyderabad (2), Bangalore (2) and Investment Chandigarh Hotel Opening Brand Launch Property of Lemon Tree Hotels Pvt. Ltd.
  • 9. Where we are today…. Presently: 18 hotels and 1969 rooms in 14 cities with 2200 employees December 2014: 26 hotels and ~3600 rooms in 16 cities with 4000 employees VISION 2020 20,000 Owned Rooms + 20,000 Managed Rooms & 40, 000 Employees Property of Lemon Tree Hotels Pvt. Ltd.
  • 10. Some recognition along the way…. National Award 2011, The NCPEDP – Shell Helen Ranked in the Top 50 FHRAI for the empowerment Keller Award, 2010 for Large Organizations, in Hall of of persons with exemplary policies, the 2012 study of the Fame, disabilities practices and belief in equal Best Companies to Work 2010 rights and gainful For by the Great Place to employment for persons Work Institute & the with disabilities Economic Times SATTE 2010 Republic of Awarded to Times Travel Honors, NCPEDP Mphasis “Best Mid-Market Noodles, Goa Lemon Tree 2011 Best Hotels – Universal Design Developer Winner 2010, 2011 Amarante Beach Resort Mid Range Award 2011 and 2012 (only 650 hotels out of 130,000 globally get this distinction) Property of Lemon Tree Hotels Pvt. Ltd.
  • 11. … and a 50% plus year on year capacity growth driven by engaged employees who drive guest retention. Lemon Tree Employee Satisfaction Survey: Guest Overall Satisfaction Scores Overall Scores % 100% 94% 100 90% 86% 88% 91% 90 80% 82% 80 70% 70 60 60% 50 50% 40 71 74 83 79 84 40% 30 30% 20 20% 10 10% 0 06-07 07-08 08-09 09-10 10-11 0% 07-08 08-09 09-10 10-11 11-12 Repeat Guest Percentage for inventory older that 1 year 2,000 40 38 1,750 35 35 1,500 31 30 29 1,250 25 22 1,000 20 18 750 1,478 15 1,393 500 10 857 Awarded to 15 out 250 218 273 682 5 of 18 operational 0 07-08 08-09 09-10 10-11 11-12 12-13 E 0 hotels in 2012. Repeat visitors % Count of rooms which have completed one or more years of operation
  • 12. KEY LEARNING Guests return ONLY because of engaged and happy employees… Property of Lemon Tree Hotels Pvt. Ltd.
  • 13. We understand that anyone can build a superior product superior customer experience is impossible to duplicate In India it is very easy for people to replicate or develop a superior hotel product because: Therefore, to Attract, 1. Hotels are often built by irrational Engage and investors with asymmetric access Retain customers – SUPERIOR SERVICE is to influence or capital the key differentiator. 2. ROCE is never a concern, the biggest factor often is ROE – Return on Ego Property of Lemon Tree Hotels Pvt. Ltd.
  • 14. Superior customer service comes only from the right talent … So we - Recruit for Attitude (Behavioral Competencies) And Train for Skill (Functional Competencies) The Lemon Tree Recruitment Matrix Competence = Attitude (or desire) + Experience (or knowledge) Key Competence: Interview Skills High Lemon Tree Hotels Lemon Tree Hotels (Current) (Desired) Attitude Low Low High Experience Key Competence: Skill Development and Wisdom Transfer
  • 15. Right talent which is effectively engaged… Share the wealth It is where Management devotes Create a happy and caring work time and resources that environment with unique practices determines what is important and what is not to the organization Communicate effectively And this is how we show our Praise extensively and celebrate employees that they are the most the small wins important factor in our success Mentor, coach and transfer wisdom at each step Property of Lemon Tree Hotels Pvt. Ltd.
  • 16. Right talent which is effectively engaged in the correct role. The Lemon Tree Job Role Evaluation Matrix Quadrant 2 are key employees who are paid a premium over industry salaries for the roles they perform. Critical 1 2 Roles in quadrant 1 and 3 are where CUSTOMERS compensation is typically in the 70th percentile of Industry standards. Non Critical 4 3 The aim is to move high potential employees from these quadrants to Non Critical Critical quadrant 2 BUSINESS Quadrant 4 job roles are paid minimum wage Property of Lemon Tree Hotels Pvt. Ltd.
  • 17. KEY LEARNING Leadership begins and ends with how you manage People, Risk and Reputation Property of Lemon Tree Hotels Pvt. Ltd.
  • 18. People (Culture) Risk Reputation Property of Lemon Tree Hotels Pvt. Ltd.
  • 19. Our culture/ethos is based on one simple equation In a descending hierarchy, the equation is: (Happiness Axis) Happy Employees = Happy Customers = Happy Investors = Happy Management So Lemon Tree Hotels has two sets of customers • Employees: Served by management • Guests: Served by employees Property of Lemon Tree Hotels Pvt. Ltd.
  • 20. Creating a Virtuous Cycle of Happiness EMPLOYEES MANAGEMENT GUESTS INVESTORS Property of Lemon Tree Hotels Pvt. Ltd.
  • 21. Business IS always about mitigating risk… Learn to Enjoy Risk Property of Lemon Tree Hotels Pvt. Ltd.
  • 22. …. and managing reputation
  • 23. Some dilemmas along the way ... Preserving the High growth + small company High Attrition = culture in a large Doubling of corporate Workforce each structure year Loyalty Re-inventing vs. roles in a fast Competency growth environment
  • 24. ..and mistakes to be avoided. Invest in people and people related process FOR THE FUTURE rather than for the present NEVER use shortcuts for Recruitment Learning and Development Performance Management Promotions Retention Create a system of wisdom transfer from Day 1
  • 25. In conclusion, Business IS NOT always about profits It is also about long term sustainability .. PEOPLE PLANET PROFITS Focus on the Triple Bottom Line – It is a key part of your culture Property of Lemon Tree Hotels Pvt. Ltd.
  • 26. …and what you want to stand for INSPIRE EMPLOYER of CHOICE TRUST EXTENDING THE BRAND INDIAN SUSTAINABILITY Property of Lemon Tree Hotels Pvt. Ltd.
  • 27. Thank You Property of Lemon Tree Hotels Pvt. Ltd.