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Haidilao International Holding Ltd.
Company typePublic
IndustryHot Pot Restaurant
FoundedMarch 20, 1994; 30 years ago (1994-03-20) in Jianyang, Sichuan, China
FounderZhang Yong
Number of locations
400+ restaurants[1]
Area served
People's Republic of China, United States, Canada, United Kingdom, Hong Kong, South Korea, Australia, Japan, Taiwan, Macau, Malaysia, Singapore, Indonesia, Thailand, Vietnam
Number of employees
60,000[1]
Websitewww.haidilao.com
A Haidilao restaurant in Suzhou, China
A Haidilao restaurant in London, United Kingdom
Haidilao self service sauce bar.
Food layout at Haidilao

Haidilao International Holding Ltd. (simplified Chinese: 海底捞国际控股有限公司; traditional Chinese: 海底撈國際控股有限公司; pinyin: Hǎidǐlāo) is a chain of hot pot restaurants founded in Jianyang, Sichuan, China in 1994.[2] Its restaurants typically operate under the name Haidilao Hot Pot.

History

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The name of the company originates from a mahjong term, haidilao, literally meaning "deep sea dredging", analogous to the act of completing a mahjong winning hand on picking up the last available tile in the game.[3] This is very rare and considered very lucky.[3]

Haidilao was founded in 1994.[4] At first, it was a small shop selling malatang. Later it developed and expanded its menu. Zhang Yong, who came from a small village in Sichuan, is the CEO of the company.[5]

In 2018, Haidilao Hot Pot served more than 160 million customers, with an average daily table turnover rate (i.e. the number of parties hosted per table per day) of 5.0.[4][6] Haidilao Hot Pot has more than 36 million VIP members and 60,000+ staff.[7][8]

Running for more than 20 years, Haidilao has received multiple awards and certifications, both domestically and internationally.

Global Expansion

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At the end of June 30, 2020, Haidilao Hot Pot had 935 stores in operation.[9] In addition to the many locations in China, the company is serving in the areas of Hong Kong, Malaysia, Singapore, Australia, Taiwan, United Kingdom, Canada, United States, Thailand, Indonesia, Vietnam, South Korea, and Japan.[10]

The company opened its first restaurant outside of mainland China in Clarke Quay, Singapore, in 2012. This was followed by its first US outlet, which opened in Westfield Santa Anita (California) in September 2013.[11][12] Haidilao continued to develop its network abroad, entering the South Korea market in 2014, the Taiwan and Japan markets in 2015, and the Hong Kong market in 2017.[9]

IPO

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In 2017, Haidilao's net profit rose 22% to 1.19 billion yuan and revenue increased 36% to 10.64 billion yuan.[10]

Founded as a privately held company, Haidilao International Holding Ltd. filed to launch an initial public offering (IPO) in Hong Kong in 2018, aiming to raise up to US$700 million for further expansion.[10][13]

As of 2018, Haidilao's IPO price of 17.80 Hong Kong dollars a share makes its market capitalization $12 billion.[14]

Special Services

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Haidilao offers personalized services including hand massage, manicure service, leather shoe cleaning service, photo printing service, and massage chairs.[15][16][17][18] While customers wait in the waiting area, the staff will offer customers all kinds of snacks, fruits, drinks.[16]

Haidilao also has a parent-child paradise, an indoor children's play area with facilities.[15]

Haidilao hot pot table.

As customers get seated in the dining area, the stall will provide customers with a variety of snacks, fruits, and games, as well as offer aprons and mobile phone bags.[18][15][19] While eating at the dining area, customers can experience the Chinese culture through Sichuan's characteristic face-changing as well as hand-pulled noodles performances.[19] Special request can be made for celebrations such as birthdays or anniversaries.[15]

Human Resource Management

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Haidilao is also known for its customer service. Part of the company's strategy is to be "employee-centered"[20], focusing on "employee motivation management"[15][21]. It created a company culture that would bring motivation and enthusiasm to its employees, and the company culture centers around interpersonal trust and respect.[20] Satisfied employees are motivated and willing to provide exceptional service to its customers.[15][21]

For the new Haidilao employees, they are required to attend a mandatory four-day orientation and a month of trial. This allows them to understand company culture and to learn required skills.[20]

Haidilao College

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The Haidilao College is an employee training and development program that was established in 2010. Its motto is, "hard work can change the destiny and wisdom makes dream come true". The goal is to share its company culture and identify the essential skills required to succeed in business. A variety of training sessions are offered by the Haidilao College. Course topics range from culture, systems, to vocational skills and knowledge. The college offers both online and offline training programs to provide the most flexible learning experience for its employees.[9]

Development

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HaiDiLao and Panasonic jointly launched a "smart" restaurant in 2018.[22] This smart restaurant relies on Panasonic's robotics and image recognition technology to achieve full automation of the kitchen.[22] After the customer orders the food with tablet computer (iPad), the system in the kitchen can automatically recognize the dishes and puts them into the tray.[22] The low temperature status of the automatic food store is effective in ensuring food hygiene, and automated meal replacement can eliminate human error. The system can also read the label information on the plate, accurately manages the type of dishes, the time of loading, the shelf life and other data to ensure food safety.[22] Four special management mechanisms make Haidilao has low turnover rate: (1) developing a motivated workforce; (2) offering competitive compensation; (3) respecting and valuing employees.[20]

Awards and Certifications

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Haidilao Hot Pot has won more than ten titles and honors such as “advanced enterprise”, “consumer satisfaction unit” and “famous hot pot” in Sichuan, Shanxi, Henan and other provinces in China.[4] From 2008 to 2012, it won the “Top 10 Hot Pot Restaurant” by the public comment website for 5 consecutive years in China. At the same time, it won the honorary title of “Top 100 Chinese Catering Enterprises” for 5 consecutive years.[4] On May 27, 2011, “Haidilao” trademark was awarded “China Famous Brand”.[4] Since 2007 up until 2018, the hot pot restaurant has won the "China Top 100 Catering Companies" for 12 consecutive years.[9]

References

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  1. ^ a b http://www.haidilao.com/brand/story
  2. ^ "Hotpot giant Haidilao set to enter Hong Kong soon". China Daily. 17 February 2017. Retrieved 25 August 2017.
  3. ^ a b "Spice of success". China Daily. 4 March 2011. Retrieved 25 August 2017.
  4. ^ a b c d e "经商篇--餐饮业楷模：海底捞基本情况简介！". www.360doc.com. Retrieved 2019-06-21.
  5. ^ "海底捞董事长张勇：创火锅店福利传奇" (in Chinese). China Cuisine Association. 26 October 2010. Retrieved 25 August 2017.
  6. ^ "2018年海底撈實現營收170億元，平均翻桌率5次/天，日入4600萬". KK News. 27 March 2019. Retrieved 26 December 2019.
  7. ^ "海底捞年收入做到 100 亿，一个以市场扩张为战略的火锅店会有什么风险_商业_好奇心日报". www.qdaily.com. Retrieved 2019-06-21.
  8. ^ "海底捞基本情况简介". www.360doc.com. Retrieved 2019-06-21.
  9. ^ a b c d "haidilao". www.haidilao.com. Retrieved 2020-10-28.
  10. ^ a b c Chiu, Joanne (10 September 2018). "Hong Kong's Hot-Pot IPO: A Chinese Chain Serving Pig Brains and Giving Manicures". Wall Street Journal. Retrieved 2018-09-12.
  11. ^ "Hai Di Lao, Chinese Hot Pot Chain, Plans To Bring 'Noodle Dance' To The U.S." Huffington Post. 22 May 2013. Retrieved 25 August 2017.
  12. ^ Burkitt, Laurie (22 May 2013). "Chinese Hot Pot Chain Hai Di Lao Makes Move to U.S." Wall Street Journal. Retrieved 2018-09-12.
  13. ^ Zhu, Julie. "Haidilao to tap demand for Chinese hotpot with up to $700 million..." Reuters. Retrieved 2018-09-01.
  14. ^ Chiu, Joanne (18 Sep 2018). "Chinese Hot-Pot Chain Serves Up $963 Million IPO; Haidilao's $12 billion market capitalization is bigger than that of Domino's Pizza". Wall Street Journal – via ProQuest.
  15. ^ a b c d e f Liu, Yan-Hong; Jie, Xiao-Wen (2017). "Exploring Haidilao Service Creativity: The Perspective of Maslow's Hierarchy of Needs". Proceedings of the 2017 2nd International Conference on Humanities and Social Science (HSS 2017). Shenzhen, China: Atlantis Press. doi:10.2991/hss-17.2017.93. ISBN 978-94-6252-316-6.
  16. ^ a b Zhang, Zhiyuan; Xu, Lijuan (July 2016). "The research of service innovation on the base of catering service process — Taking HaiDiLao as an example". 2016 International Conference on Logistics, Informatics and Service Sciences (LISS). Sydney, Australia: IEEE: 1–6. doi:10.1109/LISS.2016.7854470. ISBN 978-1-5090-1102-5.
  17. ^ Li, Gabriel (2018-10-14). "Why Do We Wait Three Hours for Hot Pot at Haidilao?". Pandaily. Retrieved 2019-06-20.
  18. ^ a b Chiu, Joanne. "Hong Kong's Hot-Pot IPO: A Chinese Chain Serving Pig Brains and Giving Manicures". WSJ. Retrieved 2019-06-21.
  19. ^ a b Chen, Elsie; 黄瑞黎2018年9月26日 (2018-09-27). "海底捞赴港上市，它能征服海外食客吗？". 纽约时报中文网 (in Chinese). Retrieved 2019-06-20.{{cite web}}: CS1 maint: numeric names: authors list (link)
  20. ^ a b c d Chen, Chen; Shen, Huawen; Fan, Daisy X.F. (2015-07-03). "Hai Di Lao Hot Pot: From Employee Stimulation to Service Innovation". Journal of China Tourism Research. 11 (3): 337–348. doi:10.1080/19388160.2015.1082526. ISSN 1938-8160.
  21. ^ a b Huisi Chen; Yuran Zeng (2018-11-28). "Analysis on Employee Motivation Management of Haidilao From the Perspective of Confucianism Wulun". Chinese Business Review. 17 (11). doi:10.17265/1537-1506/2018.11.003. ISSN 1537-1506.
  22. ^ a b c d "海底捞和松下联合推出智能餐厅-新华网". www.xinhuanet.com. Retrieved 2019-06-19.
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Category:Restaurant chains in China Category:2018 initial public offerings Category:Chinese companies established in 1994 Category:Restaurants established in 1994 Category:Companies listed on the Hong Kong Stock Exchange Category:Companies based in Sichuan

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