Global hospitality consultancy firm HVS International will set up the first asset management company for managing hospitality assets in the country.
To be set up in the next six months, the AMC, besides managing assets, will provide advisory services to hotels and related commercial establishments.
The new HVS company will provide a wide range of support to its clients in the areas of acquisition and due diligence, market repositioning, franchise and management company analysis and evaluation and contract negotiation assistance.
"HVS AMC will advise management on maximisation of returns on human and invested capital by identifying opportunities to streamline operations and profitability. A booming hospitality industry in the country makes it the right time to set up such a company," said Manav Thadani, managing director, HVS International-India.
The domestic hospitality industry is going to witness huge expansion from players such as Indian Hotels Company, Mariott, Hilton, Starwood, Accor, Golden Tulip and Hyatt.
According to HVS International estimates, about 60,000 rooms are currently under construction and they account for only 50 per cent of the estimated demand of 1,00,000-1,25,000 rooms in the next five years.
Besides, the industry is going to create demand for 1,87,500 new jobs at the operational and the managerial levels.
HVS currently provides only hospitality consultancy services in the country. HVS International is a global consulting and services organisation focused on the hotel, restaurant, timeshare, gaming and leisure industries.
Established in 1980, HVS performs more than 1,500 assignments a year. It has operations in North America, Europe and Asia Pacific.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group