The Company SPRINGFIELD HOSPITALITY PVT LTD (SHPL) a SPV was set up to manage and operate mid- market hotels. During the past year, SHPL has established a new and dynamic business hotel chain called “Grand Lotus”, which as a proof of concept and taking Delhi as a strategic location has run its primary hotel and won the Mouthshut award for the best run hotel in its first year of inception. It has been rated 5 stars on travelguru and 4.5 on goibibo.
Product& Services
The objective of Grand Lotus is to be a chain of hotels providing guests consistent experience with special focus on TIER II and TIER III cities where there is a lack of good branded hotel. In order to fulfill the requirement of three star hotel accommodations for the growing market, Grand Lotus intends to differentiate itself from its competitors by providing a significantly different product within a reasonable cost structure. Each of its hotels would provide facilities and services that have high a “value for money” component. All its hotels would have facilities such as Wi –fi and Internet access from the room, a well-equipped business center, banquet and conference halls, a well-run 24 hour multi cuisine restaurant (no other brand offers this ), exercise facility and 24 hrs check in check out facility. Grand Lotus intends to operate hotels at high level of margin without compromising on quality. It aims to manage development costs and operating costs utilizing team strengths of construction management and hotel management. The focus remains on giving the customer a standard and quality experience in every Grand Lotus run property.
Business Model
Grand Lotus will run on an asset light model supported by technology giving an edge to the company in the existing current market scenario as the liabilities of the company will be very limited. It is a unique and value driven approach which rides on the model of “suit to built” rather than “build to suit”.
The brand will undertake existing hotels on Management Contract, Franchise, and Lease (Only Metros) and will work on standardization of the entire hotel instead of just the rooms to ensure consistent experience of the guests.
Fixed Lease - Similar to lease rent model wherein all revenue expenses will be ours and all operational profits will come to the Company.
Management Contract - In this model, the Company will meet all operational expenses of the property and in return will get a higher percentage of the profits.
Franchise - Where the operator is running the property successfully but needs professional guidance and support and is willing to run under the Company’s brand name.
