Hotel Name: Jade Lantern House
Address: Unnamed Road,, Pujanahalli, Karnataka 562157
Tel No: 078480 0336
What started as a solution for providing guest house to corporate today stays as a leading strong business with over 550 rooms under our banner across 18 locations today. The story from skill assessment business to hospitality is only growing as we realize that our Nature is being hospitable, not just business. The unique characteristic of our business model that led to the success of our venture is the format in which we did business. Started as an asset light venture, stayed as an asset light company till date, making this a sustainable business with low investment risk, allowing to grow from a 20 room business to well over 500 room business, on a model of self-funding, not having compelled to funding externally. We still thrive as an asset light model as against most hospitality businesses which are asset heavy, with low gestation. The constant investment has been in enhancing guest experience through processes, people and product standards, creating brand value. In today’s market place, our clients value staying with us irrespective of the product, so long as the product standards equal, making our model unique and brand perception equally better. This gives scope to negotiate project terms better with builders on a asset under management model, without risking the business with our brand.
The external environment in our business during the start up phase was very volatile and speculative which required a lot of concept selling, where the challenge was to show value to a customer and the asset owner as this was more of a trading model in hospitality. We could demonstrate a good return of investment with our revenue sharing contract model which attracted more assets under our management. Also as a hybrid model of hotels and serviced apartments under our banner, we could attract a lot of mixed use developments. First major breakthrough in our business came about when we started handling multiple contracts of expat management up to new recruits with a multi location approach, which encouraged our customers to achieve a single window connect through us for most of their real estate requirements, from a new recruit, to a middle management up to a expat traveler, from handling a single day requirement to a yearly contract requirement that we could service. Also our almost pan India approach helped align partnerships at inventory level to client servicing expectations. Some of our large clients include IBM, Intel, Dell, Thought works, reliance industries, Religare, Juniper networks, Tata power, Accenture, and many more.