India's leading real estate services firm ANAROCK Property Consultants on Thursday announced its partnership with global hospitality consulting company, HVS.
As a new business vertical under 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, will be chairman - hospitality at HVS ANAROCK and the company's new CEO will report to him.
Shobhit Agarwal, Managing Director and Chief Executive Officer, ANAROCK Capital, will head the transactions vertical at HVS ANAROCK.
"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," Stephen Rushmore Jr, President and Chief Executive Officer, HVS, said.
"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," he added.
Anuj 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. 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," Puri said.
Agarwal has already concluded hospitality-specific capital markets deals worth over $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. Over the past four years, India has seen some 4-5 major hospitality-related deals annually, with leading private equity players being active participants on the funding side," Agarwal said.