“Frontline employees to their supervisors and above will be shareholders in each property, receiving up to 10% of hotel profits,” said Alexander Mirza, founder and CEO of Mogul Hospitality.
LOS ANGELES (PRWEB)
June 06, 2022
Mogul Hospitality, a venture capital-backed startup, has announced the launch of Mogul Hotels and Residences, an (ESG) brand powered by a forward-thinking elite talent engine.
According to the Bureau of Labor Statistics, there are 11.5 million job openings in the United States, with an unemployment rate of 3.6%. Few industries are suffering more from the consequences of this labor crisis than the hotel industry with 3 to 4 million annual job offers, an annual turnover of 70% and a quit rate of 6%. With labor costs rising and guest satisfaction at record highs, hotel CEOs agree that labor is the number one long-term issue facing the industry.
The founders of Mogul Hospitality are uniquely qualified to rise to the challenge with more than 50 years of experience in C-suites and start-ups leading hospitality and technology platforms such as Hilton, Accenture and TravelClick. To attract talent and accelerate diversity, the founders launched MogulRecruiter, the industry’s first two-way talent marketplace in May 2021 and followed a year later with the first elite talent search engine. MogulRecruiter has grown in popularity with over a million users and is the only platform where elite talent and employers are dynamically ranked, matched and evaluated. Its innovations include an AI-based matching system, talent value prediction, employer ranking, and experiential learning and development.
“Mogul’s talent engine solves the number one long-term problem facing hotel investors and owners,” said Afshin Kateb, DBA and CFO of Nimes Capital and Mogul Hospitality Advisor. “By focusing the early years of their company on developing and testing algorithms to assess and fairly compensate talent, Mogul laid the groundwork for significant industry disruption.”
Just as Tesla and Allbirds have shared their IP address to encourage the development of electric vehicles and sustainability, Mogul Hospitality is sharing the algorithms of its elite talent search engine and data analysis so that stakeholders in the industry can promote Super Moguls (top 1%) and Mega Moguls (top 10%) and compensate them fairly for the value created.
ESG HOTEL BRAND
To advance its goal of honing meritocracy and accelerating diversity, Mogul Hospitality has created an employee-centric brand of hotels and residences.
Mogul Hotels and Residences establishes a new paradigm for an employee-owned and governed business model. Employees are empowered, rather than handing over control to big business or unions, which has never been done before in the hospitality industry. Mogul Hotels and Residences employees are represented on the board of directors, draft brand standards and develop work rules. The company has designed hospitality workplaces that include chef-hosted culinary innovation, high-tech experiential learning zones, recreation and wellness spaces, and employee childcare .
Frances Kiradjian, Founder of the Boutique Lifestyle Lodging Association, the first and only alliance dedicated to uniting high-end independent boutique and lifestyle hotels and smaller brands, says: “Boutique hotels have historically led the way in innovation. . Mogul Hospitality’s focus on recognizing, hiring and promoting diverse talent from all walks of life ensures everyone has a fair chance at an ascending career path in our industry.
“We are strong believers in the service profit chain, which begins with investing in creating an employee experience that attracts diverse, elite talent from all walks of life,” said Alexander Mirza, Founder and CEO of Mogul Hospitality. “Frontline employees to their supervisors and above will be shareholders in each property, receiving up to 10% of hotel profits.”
To address the paradigm shift, Mogul Hospitality is collaborating with the Cornell Center for Innovative Hospitality Labor and Employment Relations (CIHLER) to develop talent algorithms and alternative compensation models. “Mogul Hospitality is entering uncharted territory with its innovative, employee-owned and managed hospitality brand,” said David Sherwyn, Academic Director of CIHLER at Cornell. “Today’s hospitality worker is proficient in accounting, finance, statistics, marketing, and operations, as well as the soft skills of culture and how to serve others. Mogul Hotels and Residences makes its hotel employees owners to increase transparency and they align their compensation with the creation of value in hotel real estate. These are important first steps.
SUSTAINABLE WORK/LIFE DESIGNS
The properties will be a mix of hotels, serviced apartments and vacation homes, allowing guests the flexibility to stay short or long term. Mogul Hospitality will partner with property developers and investors through software, branding and property management.
In a world where hotel rooms are getting smaller with fewer total rooms (micro-hotels) and with the meteoric rise of remote working, Mogul Hotels and Residences has designed a tech-driven work/live brand . Mogul Residences will feature tech-inspired digital art renderings with a giant screen on the walls, a hydraulic mechanism for the bed, a digital mirror and reclaimed wood flooring, all designed for a comfortable remote experience. You will be able to work from a couch or a bed in the room that drops from the ceiling. Going further, the design concept will be supported by various local communities in the fields of art, cuisine, music and interior design.
Startup investor Randall Ussery, founding partner of L37 Ventures, says, “Mogul is creating innovative technology and disrupting the hotel space. I am deeply impressed with the team’s vision and execution to date in creating a new category of people-centric hotel brands unseen since Four Seasons Hotels. This will change the outdated and systematic hierarchies that are currently in place and spur a kind of revolution in the hospitality industry.
Sustainable food and beverage options will be provided through on-site agriculture, in partnership with Freight Farms. The partnership will use their modular hydroponic farms to build a sustainable model of growing delicious and healthy food for all hotel guests and the local community. A Freight Farms container farm cultivates the equivalent of 3 acres of conventionally grown soil per year and can be grown 365 days a year regardless of environmental conditions. These turnkey systems also use 98% less water than soil farming and require a fraction of the labor time.
“We know that fresh, sustainable produce can drive affinity and traffic to hotels,” said Freight Farms CEO Rick Vanzura. “Our containers will allow Mogul Hotels to deliver unique product experiences to guests while keeping labor costs low.”
To learn more, visit http://www.mogulhospitality.com
About L37 Ventures
L37 is a next-generation hybrid venture capital and private equity investment firm. The company works alongside extraordinary management teams and founders who leverage executives, capital and talent to create global opportunity and impact at scale. For more information on L37, visit http://www.L37.vc.
About Freight Farms
Founded in 2013, Freight Farms is the leader in modular hydroponic farms, with a mission to empower communities around the world to grow their own food. Freight Farms is focused on building a new, decentralized food system that can better withstand current and future challenges. Its customers represent a wide variety of industries and backgrounds, including entrepreneurs, restaurants, schools and nonprofits, making up the largest network of connected farms in the world. Freight Farms believes that delicious, healthy food should be accessible to everyone, and that the best, most sustainable way to achieve this is to move the farms, not the food.
About Mogul Hospitality
Mogul Hospitality is a software and branding company that created the first employee-owned ESG luxury hotel and residential brand. Mogul Hotels and Residences offers live job designs powered by a suite of HR technologies, including MogulRecruiter, an elite talent engine that rewards diverse hospitality stars; and StayMogul, a booking engine where frontline workers curate experiences. To further its goal of honing meritocracy and accelerating ESG, properties are employee-managed and located in democratic countries. For more information, visit http://www.mogulhospitality.com