With a deep-rooted passion for travel inherited from his family, Pranav Kapadia, Founder, Global Destinations, embarked on a remarkable journey that led to the establishment of Global Destinations in 2008. Over the years, the company has grown to represent over 20 international clients and has built a reputation as a trustworthy and reliable partner in the travel sector. In this article, we delve into Kapadia’s entrepreneurial journey, his approach to managing his personal and professional life, and his perspectives on the importance of technology in the industry.
– Vartik Sethi
An Inherited Passion
In a recent interview, Pranav Kapadia, Founder, Global Destinations, shared his insights and experiences in the travel industry. Kapadia’s love for travel can be traced back to his family’s involvement in the industry. With his father and ancestors having worked in the travel trade, Kapadia’s passion for exploration and his desire to create a career in the field were ignited from an early age. Starting his career with Lufthansa German Airline in 1989, Kapadia gained valuable experience in various airline roles until he founded Global Destinations in 2008. This marked the beginning of an extraordinary journey that has seen the company thrive and expand its clientele.
Overcoming Financial Hurdles: How Global Destinations Thrived as a Self-Funded Venture
Managing a successful travel organisation like Global Destinations comes with its challenges, particularly in maintaining a work-life balance. Kapadia considers his company as more than just a business venture; it is akin to a family member. The dedication and commitment he has towards the company have enabled its growth and reputation over the years. Kapadia’s unwavering focus on professionalism and trustworthiness has positioned Global Destinations as a reliable partner for travel agents and clients alike.
The founder candidly discusses the financial hardships experienced in the early stages of building Global Destinations. Unlike the security of receiving a monthly salary, the unpredictable nature of entrepreneurship required Kapadia to carefully manage expenses and rely on the remaining funds for personal sustenance. Despite the challenges, he takes pride in establishing Global Destinations as a bootstrap company, built entirely on self-funded resources. He firmly asserts that professionalism has always been a core principle guiding his team and the overall operation of the company.
Pioneering Representation Services in India
Kapadia’s career in the travel industry commenced in 1989 with Lufthansa, marking the beginning of his professional endeavors in India. Prior to his foray into Global Destinations, he honed his skills through various roles in the airline sector until 2007. Drawing from this diverse background, he embarked on his entrepreneurial venture, laying the foundation for what would soon become a prominent representation company.
In the early years, Global Destinations faced the challenge of introducing the concept of representation to the travel industry, as it was a relatively novel idea at the time. Kapadia and his team strived to educate travel stakeholders about the value and significance of representation, distinct from traditional wholesalers and intermediaries. Through perseverance and a commitment to sales and marketing education, Global Destinations pioneered the concept of representation in India, eventually paving the way for other companies to follow suit.
Reminiscing the early days at Global Destinations, Kapadia shared, “We started really with two or three international partners, a very small office, less than 200 square feet, and a team of not more than four team members.” However, through their dedication and strategic focus on destination management companies (DMCs), Global Destinations carved a niche in the market. They ventured into offbeat destinations, such as Latin America, New Zealand, and even Spain, which were relatively unexplored by Indian travellers at the time. This bold approach allowed Global Destinations to create unique travel itineraries, capitalising on emerging trends and changing traveller preferences.
Kapadia acknowledges the instrumental support he received from his friends and trade partners, emphasising the value of strong relationships. He attributes a significant portion of his success to the guidance and mentorship he received from seasoned professionals during his tenure at Lufthansa and Interglobe. Kapadia said, “I’ve been very, very fortunate to have partners in the trade who’ve given me guidance at every point in time.” Their insights on running a business helped shape his entrepreneurial journey.
Noteworthy Milestones
Throughout Global Destinations’ journey, there have been several significant milestones that have shaped the company’s growth. Kapadia highlights the initial focus on offbeat destinations like Latin America, New Zealand, and Spain, which were relatively unknown to Indian travellers at the time. By offering unique itineraries and promoting these destinations, Global Destinations successfully captured the interest of adventurous travellers. Additionally, securing partnerships with prominent accounts such as Tourism Fiji and Air New Zealand further elevated the company’s profile and contributed to its success.
In 2011, the company’s representation of a prominent and niche Destination Fiji, marked a significant achievement, solidifying its presence in this sector. Another notable milestone was securing the position of Air New Zealand’s General Sales Agent (GSA) in India in 2016. This achievement further enhanced Global Destinations’ portfolio, as they expanded beyond their initial focus on destination management companies.
To diversify its offerings, Global Destinations ventured into the hospitality sector. Their strategic partnerships with renowned luxury hotel chains, including the Palladium Hotel Group in 2019, enabled them to explore new avenues and broaden their presence in the industry.
Thriving Amidst Competition: Differentiation and Focus
Despite facing competition, Kapadia emphasises that the trustworthiness of Global Destinations sets them apart. “What I would honestly add to it also, while of course, there’s a lot of competition and a lot of representation companies, I think what we’ve managed to build is really a trustworthy company,” Kapadia added. With a focus on long-term partnerships and a commitment to ethical business practices, they have established a solid reputation within the industry. While experiencing inevitable changes in partnerships along the way, Kapadia recognises that such shifts are inherent to business dynamics and believes in embracing them as part of the journey.
Kapadia provides insights into the intensely competitive B2B trade market and shares his approach to standing out in the crowd. Instead of indulging in negative competition, he believes in highlighting the unique value propositions of each company and maintaining a focused strategy. Global Destinations successfully adopted a distinctive approach by appointing one product manager per represented company. Although this approach incurred additional expenses, it ensured a dedicated and specialised approach when engaging with trade partners. Additionally, Kapadia emphasizes that Global Destinations remains committed to being a B2B representation company, leveraging his expertise in the trade to deliver exceptional services.
Furthermore, Kapadia emphasises the significance of staying true to the core business model. Global Destinations remains focused on B2B representation services, refusing to dilute its expertise by venturing into B2C operations. He shared, “We are still 100 per cent B2B representation company. I think it’s important to stick to your core business.” This steadfast approach has allowed the company to maintain its professionalism and deliver exceptional services to trade partners.
The Role of Technology
Recognising the transformative role of technology, Kapadia underscores the importance of automation and online platforms in streamlining processes within the travel industry. Kapadia on his initial challenges with technology shared, “We’ve initially struggled to get the right CRM system in place, but now it allows us to understand our business and support key partners”. While some trade partners have developed their own proprietary systems, Global Destinations invested significant efforts into implementing a tailored Customer Relationship Management (CRM) system. This customised CRM allows for real-time data analysis, empowering the company to make informed decisions and provide prompt responses to trade partners. Furthermore, it enables the team to prioritise and nurture key relationships critical to the long-term success of the company.
Trust, Integrity, and Long-Term Partnerships: Key Principles of Pranav Kapadia’s Leadership
Pranav Kapadia’s entrepreneurial journey, as the Founder of Global Destinations, serves as a beacon of inspiration for aspiring entrepreneurs in the B2B trade market. By emphasising the value of relationships, maintaining professionalism, focusing on core competencies, and embracing technology, Kapadia has successfully navigated the challenges of entrepreneurship. Through his unwavering commitment to B2B representation and the delivery of professional services, he continues to lead Global Destinations towards a prosperous future in the dynamic and ever-evolving travel industry. Kapadia’s insights provide a comprehensive roadmap for entrepreneurs seeking to thrive in the competitive B2B trade landscape.
