Constance Hotels, Resorts and Golf | Annual Report 2023

20

Strategic Insights

Constance Hotels Services Limited

Annual Report 2023

21

Strategic Insights

Chief Executive Officer’s Review

Chief Executive Officer’s Review

iv. Refinement of our Quality Standards: We are committed to providing our guests with unique and memorable experiences through quality products and services. Quality has been part of our DNA from the start, but it has never been more important, as guests in the hospitality industry increasingly focus on quality, value for money, and personalisation of their stay. In 2023, we consistently assessed, refined, and monitored the quality standards of all our properties under management. The continual high scores achieved by our properties on the Global Review Index (GRI) and guest satisfaction surveys, coupled with the numerous awards and accolades received, serve as proof of our unwavering commitment to quality. Every year since 2014, Constance Hotels & Resorts has achieved high scores ranging from 93% to 95% on the GRI, enabling our brand to consistently be listed among the top 10 small luxury brands worldwide. v. Development of our Loyalty Programme: We have developed our loyalty programme, the Echo Privilege Club, set for launch in 2024. The Echo Privilege Club positions us as the first hotel group in the Indian Ocean to introduce such a programme. This initiative, born from two years of in-depth research, brainstorming sessions, and workshops, aims to foster a strong sense of belonging among our guests, making them feel an integral part of the Constance Family. vi. Advancement of our Technological Transformation: During the year under review, we pursued our technology transformation to enhance guest experiences, modernise and elevate our technological infrastructure, optimise our operations through initiatives such as the shift to OPERA Cloud, and fortif your cybersecurity framework, whilst upskilling concerned team members. vii. Upholding of our Sustainability Commitments: All our actions in 2023 were guided by our deep-rooted sustainability principles as outlined in our 2030 Sustainability Management Plan (SMP). The SMP attests to our commitment to balancing our growth agenda with the sustainability priorities defined by the United Nations’ Sustainable Development Goals (SDGs). viii. Approval of a Three-Year Strategic Plan: Building upon the momentum of the year under review, in December 2023, the Board of Directors outlined our growth plan for the next three years through the approval of a new Strategic Plan. With the ultimate aim of increasing shareholder return in a sustainable manner, actions earmarked in the Strategic Plan primarily seek to further reinforce our presence and brand positioning within the Indian Ocean and sustain our commitment to excellence through exceptional product and service offerings.

OUR KEY BUSINESS INITIATIVES IN 2023

OUR PRIORITIES IN 2024 AND OUTLOOK

2023 was a turning-point year for us as we fully moved out of the COVID-19 era, and we were able to refocus on our strategic growth agenda. The following were our key initiatives:

Our priorities and initiatives in 2024 will be guided by our Strategic Plan.

Regarding our product and service offerings, extension and renovation works will commence in most of our properties. We will revamp our Constance Kids Clubs across all our properties to enhance their look and feel. Since 01 January 2024, we have taken over the operations and management of Constance Tekoma, Rodrigues, Constance Sakoa Boutik, Mauritius, and C Rodrigues - Mourouk. We are now actively working towards aligning their operations with our quality standards. With a view to maintaining continuity, we will renew the management contracts for the two properties in the Seychelles. Concurrently, we will continue to explore opportunities to expand our presence in the Indian Ocean through new management contracts for both the Constance Hotels & Resorts and C Resorts brands. The outlook for 2024 is positive, though vigilance remains necessary due to ongoing global geopolitical tensions, which have the potential to adversely affect leisure travel, especially during our off-season periods. In the Maldives, the return of travellers from major Asian markets, including Japan, South Korea, and China, is crucial to enhancing our performance in that destination. Moreover, in the Maldives, we will undertake the necessary measures to ensure that we are fully prepared to capitalise on the anticipated opening of the new passenger terminal at Velana International Airport in early 2025, which will significantly boost the annual passenger capacity.

i. Establishment of Partnership with Trimetys: In October 2023, Constance Hotels, Resorts & Golf entered into a partnership with the Mauritius-based company Trimetys Ltd to manage and operate, starting from 01 January 2024, their three hotels: the Sakoa Boutik Hotel in Mauritius, and the Tekoma Boutik Hotel and Mourouk Hotel in Rodrigues. This partnership enriches our hotel portfolio, now comprising eleven properties. Moreover, by adding another authentic destination to our offering, it further strengthens our position as a major player in luxury hospitality in the Indian Ocean. ii. Adoption of New Brand Architecture: Following our partnership with Trimetys Ltd, we have developed and adopted a new brand architecture to better reflect our brand portfolio and offerings. Our luxury brand, Constance Hotels & Resorts, now includes four categories and nine properties. These categories are: Leading Hotels (i.e., hotels that are members of The Leading Hotels of the World), Luxury Resorts, Lodges, and Boutique Hotels. Our lifestyle hotel brand, C Resorts, now features two hotels: C Mauritius - Palmar and C Rodrigues - Mourouk. This revamped brand architecture allows us greater leverage to engage our diverse target segments with distinct, relevant, and compelling offers iii. Consolidation of our Position as an Employer of Choice: The COVID-19 pandemic has intensified the human resource challenges faced by the hospitality industry in Mauritius and the Seychelles. Young people are less attracted to this industry. In this respect, we commend the initiative led by the Association of Hoteliers and Restaurants in Mauritius (AHRIM), where all hotels in Mauritius have joined forces to encourage young Mauritians to embrace a career in the industry. Despite this challenging context, Constance Hotels, Resorts & Golf has consolidated its position as an employer of choice within the industry, thanks to strategically-conceived initiatives. During the year under review, we implemented innovative recruitment strategies to attract top talent, offered competitive compensation and benefits to retain our dedicated team members, and redoubled our efforts to foster a diverse and inclusive workplace, thereby enhancing employee engagement and satisfaction. The employee engagement score of 87.93% achieved in 2023 reflects the effectiveness of our human resource strategy, as well as our commitment to creating a workplace where our team members feel valued and motivated.

APPRECIATION

I express my gratitude to all the members of the Board of Directors for their unwavering support and invaluable guidance. I also extend my heartfelt appreciation to all our team members. Their remarkable dedication and engagement are at the heart of Constance Hotels’ ability to withstand challenges and thrive.

Jean-Jacques VALLET (s) CEO, Constance Hotels, Resorts & Golf