PBN Fastest Growing Companies 2023
$75 million and above No. 1. Lafrance Hospitality
CEO (or equivalent): Richard Lafrance
2022 revenue: $92.9 million
2020 revenue: $43.8 million
Revenue growth: 111.9%
Everything came to a halt in March 2020 when lockdowns were implemented in New England to contain the spread of COVID-19. The hospitality industry, where people socializing and coming together in large groups is its bread and butter, was especially stricken.
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Governmental stay-at-home orders prevented people from traveling or going out to eat at restaurants as they once had. Weddings and events had stalled or went virtual.
This proved challenging for Lafrance Hospitality, the Westport-based family-owned company that owns and operates 18 hotels throughout New England and Florida, six function facilities, five restaurants and a catering division. Lafrance’s current hotel operations include Hilton, Marriott, InterContinental Hotels Group and Choice properties.
Adapting to different changes and challenges has proven to be a keen business strategy that has pushed Lafrance into the next stage of business growth. The company, led by CEO Richard Lafrance, saw its revenue grow 111.9% in 2022 compared with 2020, and brought in $92.9 million in revenue in 2022. Putting people first has allowed the company to continuously provide good hospitality and guest services while ensuring that employees are cared for.
Where possible, the sales team worked from home and maintained contact with many groups, both social and corporate, in rearranging future dates for their events.
“The primary reason for our ability to work through the pandemic was simply the willingness of our staff to go above and beyond looking after the properties and our guests,” Lafrance said.
Lafrance’s business approach varied depending on local guidelines. What worked for Massachusetts might not have worked well for Florida, and understanding those challenges came down to problem-solving by the teams across the board.
Overall, Lafrance’s hotel portfolio remained open and followed the required protocols, maintaining a safe workplace for staff and guests. Pivoting roles was essential to the health of the business operation during the pandemic. Lafrance says the company needed the hotel management staff to step up and perform multilateral functions daily.
Adapting roles and functions was essential to the health of the business and the people. During this period, the company had to reconsider what good guest service looked like, from check-in to checkout, while limiting personal interactions, Lafrance said.
As housekeeping was restricted, the interaction with guests was significantly reduced. But that didn’t stop staff from providing guest services; it just allowed them to change course on how they did business, Lafrance said. For example, the complimentary breakfast items were prewrapped, ensuring clients and guests felt cared for while following local and federal guidelines.
“Our hotel management staff really stepped up and performed multilateral functions on a daily basis,” Lafrance said.
With most of the company’s restaurant group located in the Bay State’s south coast – which includes most of Bristol County – Lafrance switched its emphasis to takeout dining. This, Lafrance said, allowed the company to maintain most staffing levels and serve the high demand. Takeout dining was a good way for the business to remain connected with its customers, Lafrance said, providing meals and services, keeping staff employed and maintaining a safe distance when necessary to continue operations.
But the flexibility and creativity for business continued. The company’s most unique action, Lafrance said, was it produced a video featuring daily specials and, more importantly, a local vendor for 100 straight days. The videos received terrific reviews, he said, and were meant to be fun for all to produce. Lafrance’s staff was motivated by the fact that guests looked forward to the 8 a.m. daily broadcast, he said.
This flexibility also extended to Lafrance’s events division. For guests and clients needing to postpone and reschedule their events, Lafrance said the sales staff offered guidance and maintained steady communication with everyone. This, he said, is another example of the company’s flexibility to ensure that its guests and clients were cared for, communicated with and had their problems heard.
