HVS and ANAROCK join forces to tap into India’s $210 bn hospitality market
Real estate services firm ANAROCK Property Consultants has partnered with HVS, the global hospitality sector leader. As a new business vertical of the ANAROCK Group, HVS ANAROCK will focus on brokerage, feasibility studies, operator searches, appraisals, executive search and other hospitality sector consulting and advisory services throughout South Asia.
Anuj Puri, chairman, ANAROCK Property Consultants takes on the added role of chairman, hospitality at HVS ANAROCK and the firm’s soon-to-be-appointed CEO will report to him. Shobhit Agarwal, MD and CEO, ANAROCK Capital, will head the transactions vertical at HVS ANAROCK.
Stephen Rushmore Jr, President and CEO, HVS, commented, “We are very excited to partner with ANAROCK as we share a strong professional and cultural fit. Together, we foresee rapid expansion in the region and will be able to tap into more resources to serve our clients better than ever. India has always been an exciting market for us, and we are targeting a concentric outward growth into the hottest South Asian markets from here. HVS India has had more than two decades of exposure in the country, and we anticipate the partnership will leverage ANAROCK’s proprietary real estate funding platform to increase HVS India’s revenues by up to 75% over the next two years.”
Puri confirmed that ANAROCK is in the process of rapid expansion in terms of both geographies and business verticals, and the launch of HVS ANAROCK dovetails perfectly with these plans. “HVS is the leading global hospitality player, and we have aligned our synergies to tap into this market in India and beyond,” he said. “Tourism in India is growing by over 15% annually, and the launch of HVS ANAROCK coincides with some of the most exciting times for the Indian hospitality industry.”
Agarwal has already concluded hospitality-specific capital markets deals worth in over US$ 2 billion in his previous assignments across key markets. “There is a huge number of funding, divestment and acquisition deals to be tapped into, and HVS ANAROCK already has excellent relationships with India’s leading hospitality operators,” he said. “Over the past four years, India has seen some four to five major hospitality-related deals annually, with leading private equity players being active participants on the funding side.”