Frasers Hospitality Pte Ltd. Blue Ocean Strategy What is the reason for existence? Finding a niche market Serviced Residences versus Hotel

Transcription

1 Frasers Hospitality Pte Ltd Balridge Programme The 25 th Annual Quest for Excellence Conference Baltimore Marriott Waterfront 08 April 2013 Blue Ocean Strategy What is the reason for existence? Finding a niche market Serviced Residences versus Carving a Market Niche Carving a Market Niche Importance of defining the Brand Offering and Brand Differentiation Service High Price High 5 Star Luxury Gold Standard Serviced Apartments Luxury Apartments For Lease 4 Star Boutique Small 4 Star Boutique Residence Moderate Apartments for Lease Size of Apartment Large Budget Budget Service Apartments Budget Apartment Low For Lease Low Length of Stay 1

2 Vision to align the company in one direction VISION Frasers Hospitality Pte Ltd aims to be the premier global leader in the extended stay market through our commitment to continuous innovation in answering the unique needs of every customer. Core Values Our vision: Frasers aims to be the premier global leader in the extended stay market through our commitment to continuous innovation in answering the unique needs of every customer. The Fraser Difference: Fraser Touch Fraser Care Fraser Home Fraser Friends Fraser Connect Fraser Kids Club The Retreat Fraser Spa Creating Fraser moments TEAMWORK: We will play as a team to share the Fraser difference with every customer. Create WoW moments INNOVATIVENESS: We will continuously seek new and better ways to doing things to make every customer feel special Exceed expectations COMMITMENT: We will be committed to display empathy, enthusiasm and energy to exceed the expectations of every customer. Meet needs - OWNERSHIP: We will be responsible to anticipate and answer the needs of every customer. Respond to needs RESPONSIVENESS: We will respond and react promptly in all our interactions with every customer. Our Service Steps: Welcome the customers Use their names Take care of their needs Thank them Invite them back Our Service Recovery Steps: Listen Apologise and show empathy Solve the problem together with guest Thank the guest Our Gold Standards Putting Structures In Place For Grow Set up structures for growth with proper Regional Hub Roles & Responsibilities 2

3 Functional Organization Structure Mr Choe Peng Sum Chief Executive Officer Chief Investment Chief Operating Chief Financial Officer Officer Officer Business Development Group Director, Sales & Marketing Regional Operations Technical Services Information Technology Human Resource & Training Accounting & Finance Investments Global Sales & Marketing Pre-Opening Design Budgeting Listing and Assets Management Branding & Communications Service and Operation Audit Mechanical & Engineering Legal Global Corporate Reservations Secretariat Revenue Management Financial Audit Organization Chart Regional Hubs Regional Operations Hub Structure Reporting to Hub Location Coverage Europe/Middle East NorthAsia Asia Pacific Chief Operating Officer Europe & Middle East Regional Director North Asia Regional Director Asia Pacific London Beijing Singapore Sydney Europe UK London, Scotland Europe Paris Eastern Europe Budapest Turkey Istanbul Middle East Dubai Bahrain Doha Oman Abu Dhabi Saudi Arabia Al Riyadh, Al Khobar China Beijing, Changzhou, Chengdu, Chongqing, Dalian, Guangzhou, Hangzhou, Nanjing, Ningbo, Shenzhen, Shanghai, Suzhou, Tianjin, Wuhan, Wuxi Hong Kong Taiwan Japan Tokyo, Osaka Korea Seoul Singapore Malaysia Kuala Lumpur Indonesia Jakarta Philippines Manila Thailand Bangkok Vietnam Hanoi, Ho Chi Minh Myanmar Yangon India Bangalore, Chennai, Hyderabad, New Delhi Brisbane Melbourne Perth Sydney 3

4 Define Growth Strategy Investment Management Leasing Development Upside & Ongoing Yield Highly Scalable Fee Income Operating Spread SCALE Presences in 39 cities, 74 properties, 12,549 units and still growing BRAND PORTFOLIO 5-star and 4-star Serviced Apartments and Residences FRASER LOYALTY PROGRAM Drive membership to bring in revenue WEB / MOBILE / SYSTEM FUNDING Deploy funds to build strong sales system REVENUE MANAGEMENT Active revenue management to optimize yields RESERVATION SYSTEMS Centralized reservation system and brand website SALES FORCE Grow sales headcount professional to increase accounts HR & TRAINING Training and human resource management as a critical success factor Branding and Public Relations Branding, Public Relations, External & Internal Marketing based on Branding, Vision & Core Values Branding and Public Relations 4

5 Targets and Performance Measurement Monitor and measure targets & performance based on Balanced Score Card concept Balanced Score Card Approach Profit Score Card Series 1 Series 2 Series 3 Series 3 Series 2 Series 1 Key Performance Indicators based on Earnings before Interest & Tax (EBIT) & Compounded Annual Growth Rate (CAGR) KPIs set on Apartment Growth (CAGR) KPIs set on Profit after Tax (PAT) Return on Investment (ROI) 5

6 Profit Measurement Monthly Financial Flash Monthly STR Global Monthly Market Segmentation Report Monthly Performance Review Yearly Budget Review Yearly Market Segment Financial Review Audit Sales Series 3 Series 2 Series 1 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Customer Score Card Monthly Brand Karma scores Monthly Booking.com scores Monthly Tripadvisor scores Guest Feedback Yearly Corporate Bookers Survey Customer Score Card Booking.com 6

7 Customer Score Card Tripadvisor.com Customer Score Card Yearly Corporate Bookers Survey What is your overall rating of Frasers products? Customer Centric Incentives Mystery guest shoppers before / after sales Operations Audit 7

8 Customer Centric Incentives Internal Business Process SALES & MARKETING AFTER SALES REVIEW Guests Internet Fraser Website OTA Global Distribution Systems Corporate Property Local Sales, Hub & Cluster Support, Global RFP, Fraser World Industry Benchmarking Comp set benchmarking Synxis Booking Engine Information System (HIS) / Management System (HMS) Reservations, Billing, Accounts Receivables, Receipting, etc. Guests Feedback In-house Guest Critique CRM Data Mining, Electronic Direct Mail, E- Blast E-Genesis Reservation confirmation, Thank-you Systems Requirements I-Trax System / Works Order System FCS Interface System PABX to HIS HMS Ipad Check-In System TMI Reporting System CRM Customer Relations Management system Intranet 8

9 Human Capital Putting people first ROCIT training Voices of Frasians Vision / Core Values Skills based training eg Dale Carnegie, IGE Fraser Day Turnover percentage Percentage of long service staff Internal marketing Human Capital Training and development, continuous learning, empowerment Human Capital 31 st March Fraser s global family celebrates Fraser Day 9

10 Footprint SINGAPORE 2 properties in 1 city with 400 apartments FS Singapore FP Singapore Existing Serviced Apartments Global Footprint BAHRAIN BANGALORE 13,069 apartments, 77 properties in 41 cities by 2016 BANGKOK BEIJING FS Dubai BUDAPEST FS Al Jadaf Dubai CHANGZHOU CHENGDU FR Al Jadaf Dubai FS Insadong Seoul FR CBD East Beijing CHENNAI FP Central Seoul FS CBD Beijing DOHA Capri, Frankfurt FP Namdaemun DUBAI Modena Heping, Tianjin EDINBURGH FS Harmonie, Paris La Defeńse FP Tianjin FS Glasgow, Scotland FR Nankai Osaka FRANKFURT Le Claridge, Champs-Elyśees Paris GLASGOW FS Edinburgh, Scotland FS Chengdu FP Istanbul FS Nanjing FS Top Glory Shanghai GUANGZHOU FR Budapest FR Chengdu GURGAON FR Budapest Modena Changzhou FR Shanghai FS Kensington, London Modena Putuo Shanghai HANOI FP Canary Wharf, London Modena Wuhan Modena Wuxi HO CHI MINH FS Bahrain FS Wuxi Capri Sanlin FP Queensgate, London HONG KONG FS Dar Tower FS Doha FS Guangzhou Modena Pudong ISTANBUL FR Prince of Wales Terrace, FS Edafah, Al Khobar Modena Guangzhou FP Shekou Shenzhen FS Hanoi JAKARTA London FS Edafah, Al Riyadh FS Hong Kong JOHOR BAHRU FR Blackfriars, London FS Sukhumvit Capri HCMC KHOBAR FS New Delhi FR Monument, London Phachara Suites FP Manila KUALA LUMPUR FR Chennai FR City, London FP Kuala Lumpur LONDON FS Bangalore FS River Valley Singapore FR Bishopsgate, London FR Kuala Lumpur MANILA FP Gurgaon FP Robertson Walk Singapore MELBOURNE FR Ampang FR Orchard Singapore NANJING Capri Kuala Lumpur FP Fusionopolis Singapore NEW DELHI FR Puteri Harbour Capri Changi City Singapore OSAKA Capri Johor Bahru PARIS FS Perth PERTH FR Sudirman Jakarta FS Sydney RIYADH FP Setiabudi Jakarta SEOUL FS Kuningan Jakarta FP Melbourne SHANGHAI FR Menteng Jakarta SHENZHEN SINGAPORE SUZHOU SYDNEY Existing Serviced Apartments TIANJIN New Serviced Apartments to be opened soon WUHAN WUXI Thank You 10