Priya Paul
Suddenly from a frenetic phase, we were down to zero occupancy during the lockdown. Things were changing really fast so we had to change the way we did business too
Priya Paul learned hospitality from the ground-up, when she joined the family business in 1988 after completing her studies at Wellesley College. As a 21-year old she worked as a marketing manager at The Park New Delhi under the tutelage of her father, Surrendra Paul.
After his demise in 1990, a spirited young Paul took charge as chairperson of Apeejay Surrendra Park Hotels (ASPH), which operates The Park Hotels. This is when her hands-on training at the hotel company came in handy, as she could related to most of the challenges and issues faced by the operations team and also find ways to overcome those.
Back then, the company had three properties in the country; today it has 20 operational hotels with two upcoming in Indore and Pune. Over the years, Paul steadily expanded the group’s portfolio to include the flagship ‘The Park Hotels’, ‘The Park Collection’, ‘Zone by THE Park’, ‘Zone Connect’ – each catering to a different customer profile. It also owns and operates the eponymous ‘Flurys’ a popular QSR brand with its origins in Kolkata.
DESIGN FIRST
What sets The Park properties apart is its design-led philosophy, pioneered by Paul much before boutique hotels became a buzzword. Eschewing a cookie-cutter model, she planned each establishment to be distinctive, reflecting the character of the local city to give a touch of individuality.
Paul also realised that location would be the clinching factor in success, and ensured majority of the hotels were situated close to financial districts to attract leisure and business travellers. This strategy worked, and its properties are popular with the corporate community, contributed 60% to occupancy rates pre-COVID.
ANTE UP
Talking about last year at an industry session, Paul announced her pride on the way her team mobilised and got down to business early on. “Suddenly from a frenetic phase, we were down to zero occupancy during the lockdown. The task force looked into everything from safety issues to revenue related matters. Things were changing really fast, so we had to change the way we did business too,” she remarked.
The shutdown last year stalled occupancy rates in the first six months, causing significant losses to the company, though it picked up to 77% in November. With the ebbing of the second wave and the uptick in domestic air travel, ASPH is hoping that corporate bookings will revive.
Last March, ASPH got regulatory go-ahead from SEBI for its estimated INR 1,000 crore IPO. The net proceeds were to be used towards repayment and prepayment of its debts, which amounted to around INR 450 crore in 2020, and also for general corporate purposes. While the pandemic stalled this move, the company is likely to proceed with it soon.
