Need to build leaner, agile businesses to create arbitrage between cost & revenue: J.B. Singh

The feat of endurance and resilience showed by hospitality leaders whose businesses have hit rock bottom amidst the pandemic situation is inspiring for people who look up to them. To debate over a myriad of concerns still plaguing the industry presently, BW HOTELIER organised Breaking The Pandemic WebBlast – ‘Overcoming Challenges: Hotel Owners’. It witnessed participation from acclaimed personalities who have an exemplary niche in the business and hospitality sector. 

J.B. Singh who is the President and CEO of InterGlobe Hotels was one of the esteemed panellists at the webinar. Giving his take on the need to re-strategize the policy matters, Singh shared, “You have to have an eco-system driven by policy that resonates with the agility. I do believe if the policy were made more efficient, we would probably end up taking out almost 30 per cent of the inefficiencies that sit in the development side of the business.”

Adding to his point, he said, “If policies are looked at on an urgent basis then they would bring a lot of investment attractiveness as we move forward.” 

The phrase ‘survival of the fittest’ has become relevant now more than ever. In that context, Singh emphasized the need to automate the supply chain and procurement business. He strongly believes in ‘Repurposing Existing Hotels’. Moreover, from a leadership and technology perspective, he feels there is an urgent need for a different set of skills to go forward.

In the panel discussion, he raised important issues involving the ‘demographics’ and ‘digital world’ and shared important trends happening in the industry.   

Among various trends, the issue of rising unemployment has become one of the most struggled challenges in the current period. The augmenting job cuts are a clarion call for action. Stating his opinion on this, Singh said, “There needs to be a lot of reskilling for the hospitality industry. The industry needs to create a lot of opportunities for outsourcing.”