June 1, 2018 – Global hospitality consulting firm HVS Executive Search and India-based real estate services firm Anarock Property Consultants and have formed a partnership to serve South Asia. HVS Anarock will focus on brokerage, feasibility studies, operator searches, appraisals, executive search and other hospitality sector consulting and advisory services throughout the region.
Anuj Puri, chairman of Anarock, will assume the added role of chairman of hospitality for the new firm. HVS Anarock’s soon-to-be-appointed CEO will report to him. Shobhit Agarwal, managing director and CEO of Anarock Capital Markets, will head the transactions vertical at the new firm.
“We are very excited to be partnering with Anarock as we share a strong professional and cultural fit,” said Stephen Rushmore Jr., president and CEO of Mineola, NY-based HVS. “Together we foresee rapid expansion in the region and will be able to tap into more resources to serve our clients better than ever. India has always been an exciting market for us, and we are targeting a concentric outward growth into the hottest South Asian markets from here.”
HVS India has had more than two decades of exposure in the country. HVS expects that the new partnership will leverage Anarock’s proprietary real estate funding platform to increase HVS India’s revenues by up to 75 percent over the next two years, said Mr. Rushmore.
Anarock is in the process of rapid expansion in terms of both geographies and business verticals, said Mr. Puri, and the launch of HVS Anarock dovetails with those plans. “HVS is the leading global hospitality player, and we have aligned our synergies to tap into this market in India and beyond,” he said. “Tourism in India is growing by over 15 percent annually, and the launch of HVSAnarock coincides with some of the most exciting times for the Indian hospitality industry.”
Mr. Agarwal has already concluded hospitality-specific capital markets deals worth in excess of $2 billion (U.S.) in previous assignments across key markets like Mumbai, NCR, Goa, Pune and Chennai, with players like Citrus Hotels, JWM, Jumeirah, Xander, Oasis, Premier Inn, GMR and GVK, said Anarock.
A Growing Market
“There is a huge number of funding, divestments and acquisition deals to be tapped into, and HVS Anarock already has excellent relationships with India’s leading hospitality operators,” said Mr. Agarwal. “Over the past four years, India has seen some four to five major hospitality-related deals annually, with leading private equity players like SAMHI, Goldman Sachs, Blackstone and APG being active participants on the funding side.”
HVS has more than 300 professionals in over 50 offices throughout the world who specialize in all types of hospitality assets, including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments and golf courses, as well as conventions, sports and entertainment facilities.
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Anarock Property Consultants serves the residential, investment, and research and consulting verticals. Based in Mumbai, it also operates in Chennai, Bengaluru, Gurgaon, Noida, Hyderabad, Kolkata, Pune and Dubai.
The tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India, according to the India Brand Equity Foundation. In light of its rich cultural and historical heritage, variety in ecology, terrain and natural beauty of the country, Indian tourism is said to have significant potential. In addition to being a significant source of foreign exchange, tourism stands to boost employment. By 2030, India is on track to move up five spots to be ranked among the top five business travel market globally. International hotel chains are also expected to increase their expansion and investment plans in India. They are predicted to account for 50 percent share in the Indian hospitality industry by 2022, from the current 44 percent.
Late last year, HVS Executive Search expanded with the opening of a new office in Miami, which is led by associate Katie Rosen.
Prior to joining HVS Executive Search, Ms. Rosen was a member of the human resources team at Crafted Hospitality, Tom Colicchio’s acclaimed restaurant group. During her tenure there, she focused on recruitment, talent acquisition and management training across the company’s restaurant locations in New York City, Los Angeles, Miami and Las Vegas. She played an instrumental role in the opening of Crafted Hospitality’s food and beverage operations within the Beekman Hotel, in New York City’s financial district. She began her career in fashion and retail as a buyer in New York City for leading consumer brands including Macy’s, Cole Haan and Lacoste.
“Katie’s strong hospitality talent acquisition experience on the client side uniquely positions her for success,” said Court Williams, CEO of HVS Executive Search. “We are excited to have her representing us in Miami as part of our overall global expansion strategy. Katie serves as a trusted advisor who partners with clients 24/7 throughout the search process and is part of a dedicated team that acts as brand ambassadors in the global marketplace. Her deep industry intelligence focuses on locating candidates that best fit a client’s culture.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media