Dear Bhowal Kaushik,
I have a small background in the hospitality industry, however, on leaving the industry, I remained a keen observer of that industry.
I don't know which hotel you are referring to and whether your reference is from India or abroad. Nevertheless, most of the companies having a chain of 5-star hotels employ staff with a degree from the Institute of Hotel Management (IHM). For the benefit of the readers let me apprise them that students from IHM are considered the cream of the hospitality industry.
Yes, there are successful persons in other industry segments also. In the IT industry, ordinary BCAs could earn more than B Tech (Computer SC).
However, in the hotel industry, the examples of super-successful people you mentioned are few are far between. For every successful person, 99 others languish. At the lower level, it is easier to get a job but at a higher level, it is very difficult.
By the way, if the hospitality industry were to be so good, why is it not attracting talent and even if it attracts talent, why the talent is fleeing to other industries? My market observation says that those who are pursuing Bachelor in Hotel Management (BHM) course, are not so keen to work in the hospitality industry. Barely 5-10% wish to continue. Why students are turning themselves away from a lucrative career?
The requirement for higher education is not industry specific. It is required for all industries. Indians' tendency to give short shrift to education casts India in poor light. Today we don't have a single car manufacturer that manufactures a car that has aspiration value. We don't have a single IT company that has produced an IT product on its own. We don't have a single company that manufactures a mobile phone or even a TV set. Our tryst with mediocrity is never-ending.
We have a tendency to pooh-pooh higher education and in the bargain, we end up playing a second fiddle to the industry leaders of the world. Unfortunately, we don't bother to check whether the fiddle is made in domestic in the market or imported. Our obsession with earning by playing a fiddle overrides our critical thinking!
Thanks,
Dinesh Divekar