Kalpesh Shangvi has been promoted Financial Controller and Director of Finance at Taj Dubai
Taj Dubai has appointed Kalpesh Shangvi as area financial controller and director of finance. Shangvi has over 27 years of experience in the industry and has been a driving force behind the financial success at Taj. The work Shangvi has done as director of finance at Taj Dubai the past three years shows he can consistently deliver outstanding results.
Taj Dubai achieved an array of financial milestones under Shanghvi's leadership. Driven by new strategies that explored new income streams and creative packages the hotel managed a 60 perecent increase in revenue from varied sources. His focus on cost management, resulted in substantial improvement in profit margins with an EBITDA margin of 38.1 percent and a flow-through of 79 percent.
Shangvi has also enhanced the hotel's key performance metrics, achieving an increase in average daily rate, occupancy, and rise in revenue per available room. During Shangvi's tenure, he has integrated advanced technology into financial operations. His renegotiation of annual maintenance contracts contributed to a 10 percent reduction in operational expenses.
As an advocate for sustainability Shangvi has introduced initiatives such as digital guest room keys and reusable water bottles for associates, which reduced paper consumption by 75 percent.
Shangvi's accomplishments go beyond operational achievements, he is dedicated to developing talent and fostering a positive work environment. He has held financial literary workshops, for non-finance managers, encouraging them to make informed decisions and strengthening interdepartmental collaboration. The finance department has achieved 100 percent associate retention, with a notable emphasis on gender diversity, as 20 percent of the team comprises female associates, under Shangvi's leadership.
His approach to risk management has zero risks in safety audits and full compliance with Dubai Municipality hygiene standards. The hotel achieved a Green Band rating in the Taj Positive Assurance Module.
Taj hotels look forward to seeing Shangvi drive innovation and excellence as area financial controller and director of finance.
