Professional Documents
Culture Documents
PROJECT (IIP)
2018
In
Ruptub Solutions Pvt. Ltd. (Treebo Hotels)
Vishakha Agrawal
PGDM 2016-18
Under the
Guidance of
Gupta
PROJECT REPORT
ON
THE REQUIREMENT OF
BY
VISHAKHA AGRAWAL
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CERTIFICATE
Dean - Academics
IFIM Business School
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Opposite Infosys Gate No.4, #8P & 9P, KIADB Industrial Area,
Electronic City, Phase I, Bangalore 560 100
Tel: 91-80-4143288 Fax:91-80-41432844 www.ifimbschoolcom
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Certificate from the Internal Faculty
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Acknowledgement
Vishakha Agrawal
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DECLARATION
Vishakha Agrawal
PGDM (2016-18)
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Contents
A-1 Description of the Internship: ........................................................................................................ 10
Title of the IIP Study: ..................................................................................................................... 10
Company ....................................................................................................................................... 10
Location......................................................................................................................................... 10
Department ................................................................................................................................... 10
Industry Mentor Details ................................................................................................................ 10
Address: ........................................................................................................................................ 10
A-2 COMPANY PROFILE ......................................................................................................................... 11
Company Name:.................................................................................................................... 11
• Location:................................................................................................................................ 11
• Industry: ................................................................................................................................ 11
• Department:.......................................................................................................................... 11
About Treebo hotels: .................................................................................................................... 11
Key statistics about the company ................................................................................................. 12
History of model followed by the company.................................................................................. 12
Key Management Proposal: .......................................................................................................... 14
Industry: ........................................................................................................................................ 15
Annual Revenue: ........................................................................................................................... 15
No of Employees: .......................................................................................................................... 15
Why Treebo? ................................................................................................................................. 15
Swot Analysis: ............................................................................................................................... 16
Stages in transformation:.............................................................................................................. 18
Journey till date: ........................................................................................................................... 18
IIP Project Proposal ............................................................................................................................... 22
Title of the project: ....................................................................................................................... 22
About the project: ......................................................................................................................... 22
Scope of the project: ..................................................................................................................... 23
KRAs: ............................................................................................................................................. 23
Fixed Asset Register to Fixed Asset Issue Register: ...................................................................... 25
Physical Verification of Assets....................................................................................................... 26
Tagging and Labelling of Asset ...................................................................................................... 26
Objectives: .................................................................................................................................... 27
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Project Deliverables: ..................................................................................................................... 27
INVOICES ....................................................................................................................................... 27
FIXED ASSET REGISTER .................................................................................................................. 28
FIXED ASSET ISSUE REGISTER ........................................................................................................ 28
PHYSICAL VERIFICATION OF ASSETS ............................................................................................. 28
Project Impact: .............................................................................................................................. 29
Project Goals: ................................................................................................................................ 29
Problems identified: ...................................................................................................................... 29
Possible Solutions: ........................................................................................................................ 30
Challenges faced during the project: ............................................................................................ 30
My Learnings: ................................................................................................................................ 30
Experience:.................................................................................................................................... 31
References: ........................................................................................................................................... 32
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Part A — Company Profile
OF ASSETS.”
Location: Bangalore
Department: Finance
Address: AMR Tech Park, Block 1, First Floor, 23 & 24, Hosur Main Road, Bommanahalli,
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A-2 COMPANY PROFILE
• Department: Finance
Treebo Hotels is a India's third largest hotel chain and operates in the budget segment of
the hospitality industry, which is estimated to be around $20B in size. Treebo operates on a
franchise model and emphasizes tight quality control. As of January 2018, Treebo Hotels
Treebo was founded in February 2015 by former Myntra executives Sidharth Gupta and Rahul
Chaudhary along MakeMyTrip’s Kadam Jeet Jain with the aim of providing high-quality
Treebo is an online marketplace for consumers to select some of the best hotels in the city of
their choice. Treebo acts as a mediator for customers who expect a certain quality and
experience. They do so by matching customer expectations with the hotel that best meets
their needs. Treebo assures clean and fresh rooms, 30 mins service promise and Assured
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The company offers budget hotels rooms to travelers in the Rs 1,000-3,000 price range, with
average booking rate at Rs 2,000. It currently has a network of 3,000 rooms, where it is able
OYO, Fab hotel,Zo hotel are the biggest competitor of the Treebo Hotel.
It has raised Rs 112 crore in a new funding round led by Bertelsmann India Investments
(BII) with participation of existing investors, SAIF Partners and Matrix Partners India.
Treebo, which competes with budget hotel room aggregator OYO Rooms, which is backed
by Softbank Corp and Sequoia Capital , will use the capital to quadruple its network to
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The Treebo Solution
While several players have tried various approaches to solving this problem, it was Treebo
who truly pioneered the asset light, full-inventory model in India using the trifecta of
Technology, Training and Audit. The slides below lucidly explain what Treebo does.
These online budget hotel startups swear by the full inventory model .
In a full inventory model,the operations of entire hotels are taken care by the online aggregator
which trains the entire staffs and manages the operations. investors too are falling in love with
the new business model that works on taking full control of a hotel, standardising all rooms
and services, controlling the operations and, yes, sharing a hefty slice of revenue with the
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OYO and Treebo differ is that the latter works with a hotel only when it can sell full inventory
of hotel rooms while the former owns only a part of the inventory. Branded budget stay players
like OYO and Treebo aggregate smaller hotels which 10-50 rooms and put standard amenities
Key Executives:
Sidharth Gupta
Rahul Chaudhary
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Industry: Hospitality industry
parks, transportation, cruise line, and additional fields within the tourism
Why Treebo?
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Swot Analysis:
transaction through electronic fund transfer is fast Can be started with very low investment
2. Weaknesses: Reluctance in customers to use internet for financial transactions like booking
tickets online. No direct customer-seller interaction due to this sometimes fraud data can
place in websites.
3. Opportunities: Increasing demand for budget hotels in India due to frequent travels of
officials. Utilization of internet to exploit their product, offer visibility, presence, marketing
and distribution. Affordable hotels are an ideal option for a weekend stay. Internet users
rapidly increasing. More are feeling comfortable buying through Internet exclusively
4. Threats: High competition can increase the wages of staff. Online budget hotels are forced
to give all the facilities with low prices. Hospitality experience cannot match to the existent
market leaders. Dishonest online businesses damage consumers’ confidence and faith in the
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Stages in transformation:
The first to implement a quality guarantee across its inventory of 7000 Rooms, 300 Hotels, and
65 cities, Treebo Hotels continues to scale greater heights by creating quality benchmarks for
partners to take note of. Treebo has once again hit a home-run by launching its latest offering
for budget customers – Treebo Select. The first of its kind in the hospitality industry, Treebo
Select will offer guests with an array of premium services and facilities falling within the price
range of INR 2,500 – INR 5,000.Presently available in Mumbai, Chennai, and Bangalore, this
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It plans to have 40-50 properties under the new umbrella over the next 12 months, said a top
official at Bengaluru-based RupTub Solutions, which owns and operates the Treebo brand.
RupTub cofounder Sidharth Gupta said the company’s big theme for 2018 is to drive a step
change in what it does to improve customer experience. “One of the very concrete parts of
Select,”
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Treebo Select is an extension of our product to offer the experience, hospitality, and services
of a 4 star, adding to the overall travel experience. We already have 10 properties under the
Select brand, some have been already launched and the rest will go live soon.” According to
Siddharth, the company aims to include about 40 properties (in top 20 Indian cities) in the
premium segment by the end of 2018.At the ‘Select’ Treebo properties, amenities such as
embellished rooms, convenient access, 24×7 room service, guest laundry service, mini fridge
etc. will be provided in addition to Treebo essentials such as air-conditioning, free WIFI,
Treebo is targeting the North East as their key market for business and leisure travelers travel
ling to the east, because the east for now is our highest productive circuit where occupancy is
We are trying to provide branded options to travelers who look for quality at a budget, to suit
their pocket. The expansions will thus widen the scope of branded budget rooms in the country .
Treebo plans to concentrate more on social media marketing, while continuing to work closely
with Online Travel Agencies (OTAs) as and when they expand in the next two years.
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IIP Project Proposal
Title of the project:
After joining the company, I was assigned to work with the FAM (Fixed Asset Management)
team of Treebo hotels, Bengaluru. I have to support the FAM team in maintaining FAR of all
the three consecutive years of Treebo Hotels. All the invoices of the last three years were to be
cross verified with the FAR maintained that if there are any discrepancies need to be resolved.
Accordingly, total number of assets is to note and need to be further physically verified so that
Most of my work includes supporting the FAM team including IT team in maintaining FAR of
all the three consecutive years of Treebo Hotels. All the invoices of the last three years are
cross verified with the FAR maintained that if there are any discrepancies need to be resolved.
Accordingly, total number of assets is to note and need to be further physically verified so that
the tagging of the assets can be a reliable process. Treebo hotels wants to keep track of the
correct value of assets, which allows for computation of depreciation and for tax and insurance
purposes. A FAR will allow a company to keep track of fixed assets that are not under simple,
direct control of the company. This means owned and leased assets, assets under construction,
and imported assets. I assisted the Fixed Asset Management and IT team to prepare verified
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FAR and resolving the discrepancies in fixed asset issue register (FAIR) of fixed assets for the
Treebo hotels wants to keep track of the correct value of assets, which allows for
computation of depreciation and for tax and insurance purposes. The FAR will generate
accurate, complete, and customized reports that suits the needs of management. The register
shows the value of assets, date of acquisition and other details necessary to compute for
depreciation and tax purposes. Fixed assets include land, buildings, machineries and other
items used in the business and are not for sale in the ordinary course of operations. A FAR will
allow a company to keep track of fixed assets that are not under simple, direct control of the
company. This means owned and leased assets, assets under construction, and imported
assets. Any failure to maintain these records as required by the statute may entail penalty,
which may extend to imprisonment in some cases and Enterprises need to follow the AS-10
KRAs:
INVOICES:
Updating all the fixed assets invoices of the last three financial year in the excel sheet. I
Keeping records of all the invoices and updating according to the FAM team.
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Data pulling from invoices according to the nature, quantity, category, serial number and
location.
I was supposed to classify all the assets in terms of Model, quantity, rate, value, supplier,
Updating the date of receipt of the asset & the payment voucher reference and ensuring
that each class of assets will have a separate page in the FAR
Finding out the invoices which are not registered as a fixed assets and capitalized.
Follow up with the IT team for all the update regarding each assets.
To register or correct those assets which have been missed out from previous FAR or
wrongly serialized.
There is one folio for each staff member who has custody of an asset. I was supposed
To locate the assets which are missing from FAIR according to FAR.
To calculate the difference between the quantity registered in FAR and FAIR.
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To verify existence, condition & custody of assets.
Physical balances compared with book balances if Variances reported have to be adjusted
The format / details to be provided in a FAR generally depends upon the following factors:
Nature of assets
An asset tracking number, which is a unique identification number. The physical asset
is often marked with this identification number, either directly or with an asset tag.
An asset description.
The asset's serial number, which is the identification number assigned to the asset by
its manufacturer .
warranty contract.
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The asset's salvage value , useful life, which is the period over which the asset will be
While the FAR is maintained according to class of assets, the FAIR is maintained according
to the staff member who holds the asset. There will be one folio for each staff member who
has custody of an asset . It will record the date of issue & return of each asset . It will bear
the signatures of the employee when he receives the asset & that of the storekeeper the
asset is returned . The register has to be periodically reconciled with the FAR. All issues in
the FAR should be reflected in the FAIR .The register helps in locating assets at the time
It is basically conducted by an inter departmental team to verify existence, condition & custody
of assets. Physical balances are compared with book balances as per maintained in FAR and
FAIR. If any variances reported have to be adjusted in financial records after due authorisation.
intervals. Surplus & shortage are equally serious & need further investigation. Should be signed
by all members of the verification team. Preferably, it should be counter signed by the auditors.
The process of numbering fixed assets is called tagging. An identification number (combination
of alphabets, and numbers) is written on the asset. A tag verifies the existence of assets and
their location, aids in maintenance, provides a common ground for communication between
the Accounts Department and the end-users and recording the net book value of asset in case
of sale or scrapping. Assets are labelled or tagged so that they can be easily identified & their
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ownership established. Cross referencing of financial & fixed asset records – done to avoid
payment to supplier before assets are recorded in the FAR. For internal control purposes it is
vital to reconcile the financial accounting records with fixed asset records.
Objectives:
Cross verifying of all the assets quantity, category, serial number from the invoices.
Project Deliverables:
INVOICES
Updating all the fixed assets invoices of the last three financial year in the excel sheet. I
Keeping records of all the invoices and updating according to the FAM team.
Data pulling from invoices according to the nature, quantity, category, serial number and
location.
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FIXED ASSET REGISTER
I was supposed to classify all the assets in terms of Model, quantity, rate, value, supplier,
Updating the date of receipt of the asset & the payment voucher reference and ensuring
that each class of assets will have a separate page in the FAR
Finding out the invoices which are not registered as a fixed assets and capitalized.
Follow up with the IT team for all the update regarding each assets.
To register or correct those assets which have been missed out from previous FAR or
wrongly serialized.
There is one folio for each staff member who has custody of an asset. I was supposed
To locate the assets which are missing from FAIR according to FAR.
To calculate the difference between the quantity registered in FAR and FAIR.
Physical balances compared with book balances if Variances reported have to be adjusted
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Project Impact:
. It will keep track of the correct value of assets, which allows for computation of
A FAR will allow a company to keep track of fixed assets that are not under simple,
direct control of the company. This means owned and leased assets, assets under
Project Goals:
Maintenance of FAR of all the invoices till date from the date of the acquisition of the
organization.
Physical verification of fixed assets according to the nature, quantity, category, serial
Engraving the identification number on all the fixed assets i.e tagging of the assets.
Keeping records of all the invoices and updating according to the FAM team .
Problems identified:
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Possible Solutions:
Difficulty in adjusting to the new work life. In starting I felt a bit hard as I need to work by
My Learnings:
Helped me in achieving my potential – Starting my career with Treebo Hotels is the first
step towards achieving my potential. It provided me with the skills, knowledge, and
confidence.
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I also got to know how to work in the corporate world.
I came to know various tools that company uses to do their work easily.
Working in a team developed my team building strength and learned to work as a one team.
Experience:
Young & Fun: Treebo hotel hires a lot of fresh out of college people.
People here are so smart and also easily approachable. There are team
lunches and events that take place. So although you work a lot, you can
Comedy Trips:
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Work-life balance: It is something which is very subjective and depends
on your priorities. But rest assured, if you deliver, your work is valued and
References:
https://www.treebo.com
https://en.wikipedia.org/wiki/Treebo_Hotels
https://www.owler.com/company/treebohotels
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