25 years and counting...

Not only is Karuna Nasta the first woman employee at Chalet Hotels Limited, she is the first one to complete 25 years of her journey, a remarkable blend of triumphs and challenges, at the company today ie April 12, 2024. Over the last two-and-a-half-decades, Nasta embarked on a path that traversed various domains, from finance and accounting to asset management with special focus on finance, risk management and operational compliances/ approvals. Today, Nasta is Vice President – Asset Management and Assurances, Chalet Hotels Limited.

Challenges en route 

“As the first female employee at Chalet, I was fortunate to experience a supportive work environment that allowed me to thrive without encountering significant obstacles based on my gender. The key to my success was our company’s commitment to open communication and regular check-ins with all employees. This proactive approach ensured that any potential challenges were addressed promptly and that everyone’s needs were met, contributing to a positive and inclusive workplace culture,” she recalls.

Experience counts

Nasta shares that her journey through diverse experiences and internships has been pivotal in shaping her professional growth and ultimately leading to the present role. “Through internships across various verticals at K Raheja Corp, I gained practical, hands-on experience spanning different fields and industries. These experiences exposed me to diverse work cultures, challenges and opportunities, honing my adaptability, problem-solving skills and ability to thrive in varied environments,” she says, adding that each internship provided unique learning opportunities, offering insights into finance, operations, and strategic planning, which equipped me with a well-rounded skill set crucial for my journey in hospitality.

“Furthermore, these diverse experiences facilitated the building of a robust professional network comprising mentors, colleagues and industry experts from varied backgrounds. These relationships offered guidance, support and collaborative opportunities, enriching my professional development and opening doors to new career prospects,” she says. 

As Nasta progressed in her career, the breadth and depth of her experiences positioned her as a versatile and capable leader, adept at addressing complex challenges across multiple domains. “This culmination of experiences and skills led me to secure the role of Vice President – Asset Management and Assurances. In this capacity, I aim to leverage my diverse background to drive strategic initiatives, effectively manage assets, and ensure the assurance of organisational objectives,” says Nasta.

Opportunities for women in hospitality industry

“Throughout my journey, I’ve witnessed significant transformations in the opportunities available to women within the hospitality industry, both locally and globally. One notable shift is the increased prevalence of women in leadership roles such as CEOs, General Managers and senior management positions. This trend not only underscores a heightened acknowledgment of women’s capabilities and contributions but also signifies a significant step towards challenging stereotypes and dismantling barriers to gender equality,” feels Nasta.

Adding more on the same subject, she outlines a few points:

Diversity and Inclusion Initiatives Many hospitality companies have implemented diversity and inclusion initiatives aimed at promoting gender equality and fostering a more inclusive workplace culture. These initiatives include mentorship programs, leadership development initiatives, and policies addressing gender bias and discrimination.

Supportive Networks and Communities There's been a proliferation of supportive networks and communities for women in the hospitality industry, offering opportunities for networking, mentorship, and professional development. These networks provide valuable support and resources to help women navigate their careers and overcome challenges they may face.

Shift in Perceptions There’s been a gradual shift in perceptions regarding the role of women in the hospitality industry. While certain roles may have historically been seen as more suitable for men, there's now a growing recognition of the diverse skills and talents that women bring to the industry. This shift in perceptions has led to greater acceptance and appreciation of women's contributions.

“Overall, these shifts signify positive progress towards greater gender equality and inclusivity within the hospitality industry, paving the way for more women to pursue and excel in rewarding careers in this field,” she avers.

Importance of fostering inclusive work environment 

Nasta says her trajectory serves as a testament to the critical importance of fostering inclusive work environments in traditionally male-dominated industries, illustrating the transformative impact of diversity and inclusion. These include:

Breaking Stereotypes As a woman navigating a male-dominated industry, my journey challenges ingrained stereotypes, proving that success knows no gender boundaries. Thriving despite industry norms underscores the notion that merit and talent, not gender, should determine one's trajectory.

Diverse Perspectives Inclusive workplaces thrive on the wealth of perspectives brought by diverse teams. Throughout my career, my unique experiences and viewpoints have fuelled creative problem-solving, innovation and strategic decision-making. This highlights how embracing diversity enriches organisational culture and drives business success.

Mentorship and Support An inclusive environment champions mentorship and support for underrepresented groups. I've been fortunate to benefit from supportive mentors and allies who recognised my potential and provided guidance and opportunities for advancement. This underscores the importance of mentorship programs and advocacy in fostering diversity and inclusion.

Creating Opportunities Inclusive workplaces prioritise meritocracy over biases, creating equal opportunities for all employees to thrive. By promoting fairness and eliminating barriers, such environments empower individuals to unleash their full potential, fostering a more engaged and productive workforce.

Cultural Transformation My journey reflects the ongoing cultural shift within traditionally male-dominated industries. By championing diversity and inclusion, organisations can cultivate cultures that celebrate differences, foster respect, and promote equality. This cultural transformation is vital for attracting and retaining top talent in today's diverse and interconnected world.

“In summary, my trajectory underscores the imperative of fostering inclusive work environments by challenging stereotypes, embracing diverse perspectives, providing mentorship and support, creating opportunities based on merit, and driving cultural transformation. Prioritising diversity and inclusion not only enrich organisational culture but also unlocks the full potential of the workforce, paving the way for sustainable success,” she says.

Attributes needed to navigate challenges and achieve success 

Nasta enlists some particularly relevant ones for us…

Leadership Setting strategic direction, inspiring teams, and driving results required strong leadership skills, including leading by example, empowering team members, and fostering a collaborative work environment.

Strategic Thinking Developing and executing long-term strategies for asset management necessitated a strategic mind-set, involving/ analysing market trends, assessing risks and opportunities, and aligning strategies with organisational goals.

Financial Acumen A deep understanding of financial principles and metrics was essential for effective asset management, including financial analysis, budgeting, forecasting, and optimising asset performance to maximise returns.

Risk Management Identifying and managing risks associated with asset management and assurances was crucial for protecting company investments and assets. This involved implementing risk mitigation strategies and ensuring compliance with regulatory requirements.

Communication Clear and effective communication was essential for conveying strategies, goals, and expectations to stakeholders, team members, and senior management, both verbally and in writing.

Problem-Solving Strong problem-solving skills were necessary for navigating challenges and finding innovative solutions to address them effectively.

Adaptability Being adaptable to change was critical for staying competitive in the evolving business landscape, including being open to new ideas, embracing innovation, and adjusting strategies as needed.

Relationship Building Maintaining strong relationships with internal and external stakeholders was essential for success, fostering trust, collaboration, and mutually beneficial partnerships.

Attention to Detail Meticulous attention to detail was crucial for ensuring accuracy, compliance, and quality in all aspects of asset management and assurances, including thorough record-keeping and adherence to regulatory requirements.

Nasta feels these attributes and skills played a significant role in navigating challenges and achieving success in the role of Vice President – Asset Management and Assurances at Chalet Hotels Limited.

Roles and responsibilities at Chalet 

Throughout her career at Chalet Hotels Limited, Nasta’s roles and responsibilities have evolved significantly, reflecting her growth as a leader and her contributions to the company’s success. “I have spearheaded initiatives to identify cost-saving opportunities and streamline operations, resulting in improved profitability for the company. Recognising the importance of guest satisfaction, I have led initiatives to enhance the overall guest experience, resulting in higher occupancy rates and positive reviews for our properties. I have played a pivotal role in developing and implementing risk management strategies to safeguard the company’s assets and operations against potential threats,” she shares. 

Not this alone, as a member of the leadership team, she was actively involved in strategic decision-making processes, providing insights and recommendations to drive the company’s growth and success. And she focussed on building strong relationships with stakeholders, including regulatory authorities, hotel management teams, management operators, and industry partners. These relationships have facilitated collaboration and helped achieve mutual goals.

“Overall, my roles and responsibilities have evolved to encompass strategic leadership in asset management and assurances, with a focus on driving growth, profitability, and operational excellence. My contributions have played a significant role in shaping Chalet Hotels Limited’s success and positioning the company for continued growth and prosperity in the hospitality industry,” she adds.Top of Form

Evolution of leadership style and her success 

Nasta says, over the years, her leadership style has undergone significant evolution, shaped by experience, mentorship, and changing circumstances, ultimately contributing to her success in her current role. “Initially, I adopted a directive leadership style, providing clear instructions and expecting compliance. However, as I gained confidence and experience, I realised the value of collaboration and empowerment. Transitioning towards a more collaborative approach, I involved team members in decision-making processes, fostering ownership and accountability, and ultimately enhancing engagement and productivity,” she avers.

Another facet of her leadership evolution, Nasta says, has been the cultivation of emotional intelligence. “By understanding and managing emotions, both mine and others’, I’ve improved my ability to build relationships, resolve conflicts and inspire trust. This has created a supportive work environment conducive to collaboration and innovation. In today’s dynamic business landscape, adaptability and resilience are paramount. Embracing change as an opportunity for growth and innovation, I’ve navigated challenges with a positive mind-set and a solutions-oriented approach. This adaptability has allowed me to thrive amidst uncertainty, maintaining focus on goals and driving progress even in challenging times,” concludes Nasta who has been firm believer in leading by example, demonstrating integrity, professionalism and a commitment to excellence.