HMH is a fantastic organization to do business with and has tremendous potential for growth. We have diverse brands with an impressive track record, presence in some of the most promising destinations in the region, highly experienced and talented people and exceptional products and service - all of which differentiate us in a unique way in the market place. The group has come a long way from its modest beginning in 2003. Leading it forward is an exciting challenge for me.
I have been in office for only a year! And I must say it has been quite an exhilarating, productive and deeply satisfying time with many exciting developments at HMH. My philosophy is to start by understanding what our capabilities are and then finding the best opportunities.
A successful company is all about being adaptable and flexible to the environment it finds itself in at any given time. It is time for us to focus on the big picture, not the small numbers. Like all companies we are engaged in brutal competition in search of sustained, profitable growth. We have been fighting for competitive advantage, battling over market share, and struggling for differentiation. Yet, it is not the way to create profitable growth in the future. Cutthroat competition with limited resources results in nothing but a red ocean of rivals fighting over a shrinking profit pool. Lasting success comes not from battling competitors, but from finding a sea less crowded - by creating "blue oceans" - untapped new market spaces ripe for growth. Such strategic moves create powerful leaps in value.
To start with, we want to listen and learn from our customers. It is absolutely critical to ‘Give customers what they want’. And some of the questions that popped up over the last few months were ‘What is it that the customers expect from us?’, ‘How do we want to connect with them and position ourselves locally and internationally?’, ‘How do we wish to be perceived in the market?’ ‘How are we going to cut across brand loyalties?’
And so was born the dynamic new identity of Coral Hotels & Resorts. In addition we strengthened our executive team, sharpened our brand image, developed new multi-lingual websites, are gearing up to launch new loyalty programmes and preparing for the opening of five new properties. We are confident that the direction we have chosen is the best way forward for the desired progress and growth of the company. We are redirecting resources to areas where we have identified opportunities to create value with greater local relevance. Let us put it this way, it is not a revolution but an evolution bearing in mind customers' expectations.
Although much has been accomplished, we still have a long way to go. The months ahead do look hectic with many exciting deals being worked out. These plans will be announced in detail as we progress.This of course means more challenges, greater competition and increasing responsibilities besides more opportunities. But I am sure we are well-equipped with skills, knowledge and abilities to meet these challenges. Most important is to keep our customers and partners satisfied by focusing closely on their needs and concerns. And that’s what we have been relentlessly working on.
Laurent A. Voivenel
Chief Executive Officer