Succeeding with an ‘asset right’ strategy

Millennium Hotels and Resorts balances acquisitions and managing franchises.

With this year’s surge of new entrants in the Singapore hospitality sector turning the industry into an even tighter rat race, one company’s efforts to stand out from the pack have proven successful. Millennium Hotels and Resorts’ strong commitment to customer satisfaction and self-improvement continue to keep the company competitive.

“Our hotels in Singapore regularly carry out enhancement exercises which enable us to constantly improve the facilities and services that we offer our guests,” says Bhupesh Yadav, Chief Business Administration Officer at Millennium Hotels and Resorts (MHR).

"These exercises also serve as opportunities for us to differentiate our hotels from others in Singapore.”

Orchard Hotel Singapore, one of MHR’s establishments, boasts a recently renovated Claymore Wing, which includes 331 guestrooms and a Premier Club executive lounge, spruced up to reflect the hotel’s more contemporary feel. “The club rooms provide privileges to business and leisure travellers such as complimentary laundry credit, personalized check-in services and gourmet breakfast,” Yadav says. Another MHR hotel, the Grand Copthorne Waterfront Hotel, just minutes away from entertainment and F&B hubs Robertson Quay and Clarke Quay, is competitively positioned as a preferred MICE venue. To address these specific needs, the hotel has a team of dedicated MICE professionals, ready to meet the demands of even the most discerning businessmen. “The hotel’s function rooms are also equipped with wireless broadband internet access, motorized screens, video-conferencing equipment and intelligent lighting and sound systems for special effects,” says Yadav.

Aside from this, the two hotels also offer clients a variety of dining options. Orchard Hotel Singapore’s options include: Hua Ting, which serves up authentic Cantonese cuisine prepared by award-winning chefs; Intermezzo Bar, where guests can sip cocktails and wine to the sound of live music; and lastly, its very own Noodles restaurant, where diners can witness the creation of a la minute, handmade noodles.

Grand Copthorne Waterfront Hotel, meanwhile, offers a wide range of culinary options ranging from authentic Italian cuisine, offered by the hotel’s award-winning Pontini restaurant, to distinctive Chinese cuisine from the Grand Shanghai Restaurant. Diners can also find a variety of local and international favourites at the hotel’s Cafe Brio. Notably, both hotels, together with M Hotel Singapore, also one of MHR’s hotels, were among only 20 hotels selected as official South East Asian Games Village venues, where the recent SEA Games’ athletes were housed.

MHR’s growth strategy remains focused on exploring new acquisition opportunities in the region and worldwide. “Some might say the group’s strategy is asset heavy since we own many of the properties we operate. But we believe that we are “asset right” and we balance asset heavy activities like acquisitions with asset light activities like managing franchises. A combination of these two allows our group to make profits from the appreciation of property value on assets that we own, while asset light activities offer opportunities for quick expansion,” he said.

“We are also focused on rolling out new F&B brands to appeal to different customer groups,” says Yadav. As of 2014, MHR boasts an impressive global portfolio of more than 120 hotels, which include its most recent high-profile acquisitions Grand Hotel Palace Rome (formerly Boscolo Palace Roma Hotel), The Chelsea Harbour Hotel, and Novotel New York. What’s next for this company on the rise? According to Yadav, “MHR is on track to introduce a new hotel brand – M Social – in Robertson Quay, Singapore. Similar to our existing Studio M brand, M Social will target younger discerning travellers who have cosmopolitan tastes.”