One of the most consistent challenges affecting the hospitality industry is attracting labor, but finding talent that sticks is also top of mind. Earlier this year, STR reported that labor-related challenges are among the most prominent for hotels in the current global landscape. While employee retention is caused by many factors, multiple hospitality companies are lauded for their company culture and workplace. One such organization is CoralTree Hospitality.
Recently, CoralTree ranked fourth as one of the best small companies to work for in the Denver Post’s Top Workplaces 2023 survey. The recognition doesn’t come from the Denver Post’s writers or internal research; the CoralTree team responded to the Denver Post’s employee engagement survey, and CoralTree was ranked based on those responses. Categorized as a small company, CoralTree has a little over 5,000 employees company-wide, according to President Tom Luersen, who discussed the recognition with LODGING. “A moment like this is really powerful and very fulfilling,” Luersen shared. “As the business leader, it makes me feel great because the effort everyone puts forth is that we’re all trying to have great respect for one another. We have fun when we come to work.”
Luersen believes part of the reason CoralTree received such a high nomination from its employees is, “We work tirelessly to build a culture where we celebrate individuality. We want people to come as they are and be the very best selves they can be. We create a family environment where before we talk business, we talk about how your day is going, how things are at home, and how we can help you. We believe in that philosophy.”
CoralTree requires its employees to have two major qualities: Being a high performer and a cultural ambassador, which Luersen mentions are “non-negotiable attributes that I look for in our team members.” He added, “Being that the nomination came from my team makes us feel great that they are feeling that way and they feel good about the culture.”
Creating an environment where employees are valued matters, as is promoting contribution to the company’s overall culture, giving employees the tools to succeed, and providing avenues for growth—all of which support talent retention.
Luersen noted that each of CoralTree’s six brand values—integrity, empowerment, relationships, performance, innovation, and balanced life—plays a critical role in encouraging team members to actively participate in company culture and align together. “Those six values are reinforced in all we do, but they’re intangible. It’s more of a feeling and an attitude, so it’s hard to measure at times, but at the end of the day, it’s the behavior of the organization,” Luersen said.
Following the ranking, CoralTree is continuing to foster a positive workplace environment for employees and executing its growth, including adding another 2,000 employees to the organization. Luersen explained, “We are a company that grows based on our reputation and our ability to deliver promises to our hotel owners and, of course, the guests of our hotels and resorts. As a result of that, we’ve got a pipeline of active opportunities that are coming forward. We have another seven hotels that are under construction and that we’re under contract with today that will be opening around the country over the next 24 months, and that’s exciting.”
