LEVERAGING THE LAST TO REIMAGINE THE NEXT 100

Puneet Chhatwal, MD and CEO, IHCL’s spearheads a motivated core management team that is executing an ambitious plan of creating a marque hospitality group that straddles more than just hotels. In an exclusive interview, he talks to Gurmeet Sachdev about what were the minute cogs in the wheel that helped transform a hotel company into a hospitality giant

What has the journey of re-structuring IHCL been like?

We have made significant progress on the key pillars of Aspiration 2022. Our re-imagined brandscape, with its unique experience and sustainable value proposition for each hotel brand, is resonating very well with our customers and partners. We have signed 50 new hotels in the last two years and this growth momentum has helped us reach a portfolio milestone of 200 hotels. IHCL has harnessed the diverse brandscape to drive growth through management contracts. Forty three per cent of our portfolio is now hotels on management contracts, as against 32% two years ago.

What have been your learnings and challenges?

I came from a mature market to a market that is at an inflection point. I was fortunate to use the learnings and best practices from my international exposure to identify the DNA of the organisation and reinforce the culture for success. This journey was built​ on a strong culture of inclusion, empowerment, collaboration and focus on execution. A significant mindset change was required across the organization to believe in what was possible. At times, the inherent competitive spirit within Indian culture did tend to become a hindrance to team spirit. But today, I am pleased to note that the entire organization is working as one to achieve our 'Aspirations'.

You have managed to make IHCL profitable without any staff attrition. Can you tell us about your HR strategy?

Our people are integral to the enviable brand equity of IHCL. The first thing we did was to include 40 of our senior leaders in creating the ambitious 5-year business strategy. This was supported by ‘culture meets’ that helped in fostering an environment of collaboration and teamwork.