Negative Interest :panacea or placebo

Article contributed by Dr. Deep Chandra Oli, Associate Professor, Faculty of Commerce and Business Management

In  the common parlance interest has been defined as the price  or cost of capital or cost of money .The underlying postulate in economic theory is the scarcity of resources .Interest is paid when one uses someone else’s money this is the edifice on which entire economic theory has been architect. The borrower agrees to pay the lender for using money provided to borrower .  In other words borrower compensates the lender by paying interest for keeping him out of funds for a certain period .

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NEW PROPERTY COUNTDOWN

 Article contributed by Mr. Deepak Rawat, Assistant Professor, Amrapali Institute of Hotel Management

The word ‘New Property’ is like a suspicious eye brow raise in the competitive world where Hotel Property has been mushrooming in every nook and corner of the world. There was once a time when a green rickety bus carried people slowly towards their destination in a very less frequent routine. Travelling was a horrible experience yet man travelled as enthusiastically as possible. He stayed in Dharmashala and later with modifications, the hotels, motels came into existence. Little did man know then that the Hotel Industry will be a term in coming generations that will help in stabilizing the economy? Once this happened, Thanks to the enthusiastic travelers, the world seemed to be growing with Hotel Properties raising their head high to touch the sky. Now we have Hotel Properties that have developed a firm hold over the world and they are branded stays of comfort and luxury. This has added a lot to the expectation of the job seekers too. Everyone wants to be associated with the best property.

I remember a time when conversing with a student who was finding it hard to fix himself during the pandemic in a foreign country. He refused to go ahead and join a new property. Are new establishments really not important in raising the job profile? Are the establishments not good enough to train the new professionals? These believes need to be resolved and for this it was nice to have Mr Gaurav Singh Gangola, Manager Housekeeping, Seychelles’ who shared his experience and expertise with the students and faculty at AIHM as ‘New Property Countdown’.

Mr Gangola is a passionate hotelier who travelled the ocean to get a place for him. His appearance motivates the students as after passing out from IHM, Meerut in 2012 he started his career by working with The Oberoi Udaivilas, Udaipur and then he worked at the supervisory and in the managerial level. He finally rose to the position of Housekeeping Manager at Le Chateau De Feuilles –Seychelles.

Mr. Gangola stared the session by illuminating the role of the housekeeping personnel. He said that the Housekeeping Department of a hotel is the ‘heart of the hotel’. It is responsible for maintaining cleanliness and is an essential contributor to the aesthetic upkeep of the hotel. The role of housekeeping unlike Food and Beverage or the Front of the House Department starts way before the hotel commences as a full- fledged operational unit.

Then Mr. Gangola touched the long story behind the preparation of a place that in successive years becomes a place of motivational rise. Hoteliers plan their lifeahead wanting to link with the best branded property.

OBVIOUSLY-

“Nobody wants to play rhythm guitar behind Jesus

Everybody wants to be a lead singer in the band.” - Oak Ridge Boys

That’s true with every profession but we must all understand that all the successful people went through a lot of ups and downs and then reached the top. Every established property is a story of concrete in its making where people put lots of efforts and accomplish their goals. They are indeed more successful.

Even when a property is in the nascent stage its pre - opening calendar starts at the level of work execution. It starts two-three years ahead, but it is unrealistic to think that every executive housekeeper can be hired far enough in advance to take part in the original planning with top management and the architects. However, in some cases it is also planned ahead and it is decided who the housekeeper will be and he is consulted in advance briefing him the entire housekeeping operation. Graphics play as much a role in understanding as do the complete design. Hence a new property at its making introduces itself to the housekeeper at a very early stage. If one goes for a new property he may develop an eye for detail.

THIS INSPIRES US TO TRY THE NEW PROPERTY TOO.

Mr. Gangola also reminded the faculty that demonstration plays a great role in establishing a hotel. Every hotel prepares a Mock Room for the start to attract the clientele. The hotelier specially a fresher gets vistas of knowledge from handling the establishment to its development when engaged with such a property.  Also the entire project is completed under the guidance of the Project General Manager so learning under guidance with step by step performance becomes quite easy. The raw data appears as a pre-opening stage Snagging List with more than 460 points. How wonderful it is to get a check list of the skeleton under construction and to see the target met under experienced people.  

After the completion of the construction of a property, a handover from the Project Team starts and the handover is cross checked with De- Snagging list. This is very helpful in getting the things done accurately. The whole theory explains the practical working involved. It is just like moving in a house that has been constructed under your nose as you know all the ways to handle it. A farmer that works in the farm knows his seeds better than one operating from a distance, a soldier knows the frontiers better than the mass media person and an hotelier knows the property better if he is engaged at the countdown stage. This is the essence of establishment and an enthusiasm to move with.