The hospitality business comes naturally to Ruchi Uberai, Director of Amritara Hotels and Resorts. She learnt the ropes from an early age from her father, Gurmeet Singh Uberai, who heads Shanti Hospitality Management Services, Sorrel Hospitality and Nidra Hospitality, besides being on the board of several other companies. And she has adroitly put into practice these lessons, which have been tried, tested and have withstood the travails of time.
One key learning she picked early on was always putting people first. Focusing on the interest and welfare of the team helped Amritara Hotels and Resortskeep its attrition in check, even during the lowest ebbs of the pandemic, when business almost came to a standstill.
“We believe that profit is secondary to survival,” Uberai stated. “The pandemic taught us to consolidate, train and focus on planning as well as to relook at our customer mix and source markets. We spent the past 24 months implementing and upgrading the latest technology to be future ready for re-opening of the industry and our projects.”
GOING STEADY AND STRONG
Another significant lesson that Uberai picked up over the years is the merit of keeping a larger quantum of liquidity available on tap and responding to unusual events quickly. “Once one makes business plans for a ‘normal’ situation, you cannot plan for the abnormal,” she expounded. “Perhaps the greatest learning, therefore, is increasing the pace of response to unusual circumstances.”
Amritara Hotels and Resorts currently has 14 properties, operationaland in the pipeline. The launch of some projects was delayed because of COVID-19, which impacted labour availability. Moreover, as a management company, it decided to go slow with the rollout, seeing how the pandemic affected the sector.
But Uberai revealed that the company is now all set to open its first hotel in Badrinath and its second one in Mussoorie, Corbett, Amritsar, and Marari, respectively. “We also have developments in Chail, Kemptee Falls and two projects in Goa,” she added. “Additionally, we have inked management agreements for two assets under development, one of which should open this year and the other by early next year.”
As it grew, the company ensured that it budgets capex costs and expenses well in advance for each project, depending on the pipeline for the year. No changes are made once the project begins, keeping major expenditure in control.
Pulling a leaf out of her own book, Uberai advised other hotel owners to plan the capex in relation to the estimated RevPAR they can derive from the asset. This approach can go a long way in ensuring financial stability and higher return on investment– the very bedrock for success.
