Surviving is Profiteering this year: KB Kachru
On the second day of the event, the keynote was addressed by none other than KB Kachru, Chairman Emeritus and Principal Advisor, South Asia Radisson Hotel Group. He acknowledges the efforts of BW HOTELIER and technology which has allowed the event to take place virtually and seamlessly. He says ,“As legacy to this forum, we need to work together, better and facilitate constructive dialogues with each other and at the same time, recognise the best of the best. BW HOTELIER IHA 2020 means a lot to us. They are already in the fifth year and I am happy to say that it has already acquired the core position in our industry. I want to take this opportunity to commend the team that has really put in a lot of hard work and made this massive five-day summit a real success, despite all the odds everybody had to face because of the lockdown.”
Reflecting upon the opportunity to recognise the best hundred in hospitality, Kachru states, “What our industry is going through at this stage is challenging, unprecedented and unpredictable and this is the time where we all need to stay stronger than ever before.” He adheres to the adage by the world leaders, “If you have survived this period, consider it as a real profitable year for you,” and that is what Kachru says one needs to believe in.
“We are passing through this test and our true test of leadership is how well we function during this crisis. Bottomline is not the only criteria we have; our new generation has to learn how to lead and the best way to do is to care and lead properly.”
Kachru speaks about the tension faced by the world and the people at large who are adversely facing the brunt of the pandemic. “The world has changed and that in itself is an understatement. Our industry is close to $247 billion in India, we have the potential of hiring over 100 million people but the sad part is we are at this juncture, which is likely to impact millions of people, 4 to 5 million jobs are at risk. This is a difficult period. We had a great 2019, we expected to move on and probably establish reasonable growth but in 2020 we have seen near negligible revenues,” he asserts.
Comeback may be in the offing, but it will undoubtedly require more than just changes in safety and sanitation protocols; hoteliers will need to reimagine the way they serve guests and meet new expectations. “We need to constantly reimagine how and what has worked in the past and what will work for us in the future. We must recognise the situation and how fluid it is. During this period, it is harder to take decisions, therefore, it is important for all of us to reimagine, reset and reinvent,” Kachru states. “We have to effectively look at the road ahead and plan our recovery. While attempting to define the destination is particularly important for all of us but we need to access and respond to shifts. These shifts will take place every week, every month. Most important change that we have all seen and will continue to see is hygiene and safety. It is going to be a revolution, be prepared; it’ll now be about lifestyle in the future”
Sharing his experience at IHA 2020, Kachru says, “I am privileged and honoured to oversee the National Jury. We were greatly supported by four regional juries from all over the country. BW had arranged at the regional as well as the national level some of the best and finest hoteliers, chefs and subject matter experts who have judged awards in a very transparent manner. You have been judged by the stars. We have selected the best of the best in every single vertical of our industry. You are all aware that the submissions were made online and we have also judged you at a time when you have been working in a vastly different manner. We also, as a special case judged all of you on how you have done even during the lockdown period.”
“We have the future stars and award winners here who actually have made it to top 100 of our industry. Our overall understanding in this global crisis has taught us to expect a shift in the way business is conducted and I am sure you all are glued to working and creating new experiences for our guests,” he adds.
The coronavirus pandemic is a catalyst to industry transformation and innovation, and the coming years will provide hotels with the opportunity to reinvent their offerings to serve a post-pandemic world. “We agree that the world has changed beyond recognition and that too rapidly and whether we like it or not, it’s without much warning. We’ll continue to learn and adapt to something we never imagined,” Kachru states.
He further adds, “At the Radisson Hotel Group initially like all the other hotel companies, there was a complete shutdown, near zero occupancy but today, we are actually trying to comeback, fifty per cent of our own portfolio has resumed operations with strict safety and hygiene protocols.”
Kachru cast light upon good news, “We are all seeing some recovery across the country but it’s rather slow. Constantly, we are required to reimagine our business if we have to stay in the business whether it is linked to operations, guest expectations, government policies, demand trends and technology interplay. We have to continue to gain investor’s trust and loyalty from our employees as this is what is going to be the catalyst for the recovery.”
The hospitality industry has been placed in an incredibly vulnerable position. But, within that sobering reality, it is important to remember that the hospitality sector is no stranger to crisis. The hospitality industry is yet to face a new world in the months ahead, one which is not deprived of innovation. Standards of guest service will remain high, but those traditional touch points we have always known will receive a critical makeover to ensure safety and service in equal measure. “Amid the crisis, reimagining the resilience will be defined how effectively all of us look at business and the road ahead and we need to all plan our recovery very effectively. We have to transform service experience to consumers through reimagining social interactions, crafting innovative F&B offerings and finding new ways to push hospitality services beyond hotels,” Kachru mentions.
Talking about how hotels are gradually adopting and adapting to the crucial times, Kachru highlights, “I am glad to say that many hotel companies have started offering services beyond their own hotels. I am sure technology will be the focus and will attain more touch-less offerings, but I hope, we continue to feel that it has to be in a manner that it’s not heartless. We have to offer hospitality as an experience. Finally, sustainable practices and reengineering commercial strategies will be our strongest pillars; we need to work on those. This I am sure, will lead to a change for the better.”
Shedding light on how future will unfold, he remarks, “Market dynamics will change but they will ensure more relevance and win value, all of us will emerge stronger. We all must put people, society, and community first. If we as an industry can emerge and show that we care more and more for different segments of society, we will emerge better.”
“Invest today for unforeseen crisis tomorrow and your courage, foresight and optimism would be the key to our way forward. We have to inspire our fellow workers and along these, let us look to a bigger picture. Align yourself with real time needs and reassess your own response,” Kachru adds.
“The worst hopefully is actually over, and we have left it behind us. We have had a long summer and many generations to come will not forget it but, this too shall pass,” Kachru says, concluding his power-packed keynote address.
