“Life is a journey. You get on a train and it is never ending with no destination” as beautifully quoted by Dr. Suborno Bose on Manage Wealth with Divya Tusnial show.
Hospitality is one such journey where you live for the Moment of truth. It is a passionate voyage where you meet a new person and a challenge every single day. Hence, the moment of truth. Many see hospitality as an apprehensive career. But as shared by Dr. Suborno Ghosh, it might have been a 4th career choice 25 years back but today millennials are interested in varied career opportunities. They are opening restaurants, pubs, and cafes. They are working in various industries such as aviation, cruise line, malls, banks, hospitals, and hotels. India is and will be witnessing a startup revolution in the next 5o years. With technological advancements there will be new and breakthrough ways in which the hospitality businesses will grow. There are food tech startups and cloud kitchens spread across India.
IIHM post pandemic has been helping their students monetarily and as mentors to establish businesses. Dr. Suborno advises every new entrepreneur to plan their finances well. Venturing into any new business will always have its challenges and downsides. But if the planning is meticulously thought through the idea can be a huge success. He always guides students to invest more in partnership models. New age hotels are working as joint ventures in asset like models with big brands such as Marriott, Taj, Oberoi etc., for better operating profit.
As a student with IIHM the scope of growth in the hospitality industry is enormous. IIHM also conducts the Young Chef Olympiad where students get to meet their peers from 49 other countries. It is a magnificent opportunity for students to grow their leadership and networking skills. It helps them land various opportunities across the globe.
Hospitality industry has an immense potential. A good financial plan can help one grow big in this industry. If one can plan their portfolio of wealth by investing in different baskets than only in one they can write success stories similar to Dr. Suborno Bose.
