Mr. Parveen talked about his exciting journey with the Taj Group, where he has been associated with almost every central hotel under this brand. He joined the Taj Group right after he completed his college education and hasn’t looked back since. His inside scoop on the hotel industry’s struggle during the Pandemic is sure to fascinate many. According to him, the pandemic has changed the habits of consumers to an exemplary level. Consumer behavior has deviated from caution to a mood for exploration. As people continue to travel, they are pushed towards further spending, and hence their behavior is molded toward the benefit of the industry. Indians have begun to travel domestically, on a large scale, which has been pivotal in the revival of the business.
Mr. Parveen recollects the importance of proper Financial Management to keep businesses afloat. As hotels have fixed costs, along with variable expenses, they have been quite susceptible to the rapid decline of finances during the pandemic. However, the Taj Group has been able excel due to excellent planning. They learned how to manage with less, and prioritized the preservation of cash. Hence, they have not only been able to survive, but now they thrive. Parveen spoke about how the financial management of a hotel is similar to running one’s home.
When asked about the secrets of personal financial management, Parveen had many pennies of wisdom to share with us. His mantra of successfully planning your finances is quite simple; be consistent in your saving/spending graph, manage your portfolio, and have a long-term vision. Truly, one need only follow such simple tactics to be better at financial planning. When asked about his views on the new-age innovations in digital like crypto, he expressed his enthusiasm; along with a few words of caution because the market of digital currencies is a volatile one. One with high rewards, with high risks.
Moving away from the seriousness of the conversation, Parveen also shared the fun side of his life and personality. He shared with us the love he possesses for traveling, no matter how much he has to plan for it, that merely works to his benefit as Parveen loves to plan as much as he loves to execute those said plans. He is a foodie at heart and loves to experience different cuisines during his travel.
He has also made a lot of mistakes during his journey. He wasn’t shy about sharing them as those mistakes helped him grow into the man he is today. The lessons he learned through those mistakes remain with him still. When asked about tidbits of wisdom that he would like to share, Parveen had fascinating advice to bestow upon us. He insisted on the fact that there was no quick and easy way to make money. Everything worth building requires time to nurture. It’s just as vital to spread out the investments one decides to make. Low return low risks deals are underrated. It ensures that one never takes an acute loss in their investment.
The enlightening conversation came to an end with Parveen partaking in his dream to dip his toes in the world of Healthcare. His goal after retirement is better the state of healthcare in rural areas, and he is hard at work to see that dream realized. Watch this insightful episode of Divya Tusnial Show with Parveen Kumar Chander on Divya Tusnial Show YouTube page.