New Delhi, April 7 -- The UK-based real estate advisory firm Savills has acquired a majority stake in Indian hospitality consulting firm Hotelivate Pvt Ltd to bolster its services across South Asia.
The combined entity will create a scaled, institutional-grade hospitality advisory platform under a unified brand Hotelivate-Savills, the companies said in a statement. They didn't disclose any financial terms of the transaction.
Hotelivate advises owners, developers, operators and institutional investors across strategy, feasibility, operator selection, asset management and transactions in Asia Pacific. With presence across Delhi, Mumbai, Bangkok, Dubai, Jakarta and Singapore, the platform will also expand the wider Savills network.
Hotelivate-Savills combines hospitality expertise with Savills' full-service real estate platform across capital markets, valuations, transactions, project management and cross-border advisory in over 70 countries. The integrated model aligns strategy, capital advisory and execution from the outset, the statement said.
"South Asia is a priority market for Savills in APAC, and this acquisition reflects our strong commitment to its long-term growth. Our continued investments position us well to expand into specialist areas like hospitality advisory," Martin Fidden, chief executive officer, Savills Asia Pacific (ex-Greater China).
Anurag Mathur, chief executive officer at Savills India, said South Asia's hospitality sector is experiencing strong tailwinds and that the firm has "reached the scale and organisational maturity to invest selectively in specialist capabilities aligned with market opportunities".
Manav Thadani, who founded Hotelivate in 2017 and is also the company's chairman, said the investment by Savills will enable the firm to scale the platform in a more institutional manner and enhance its ability to serve "increasingly sophisticated investors while preserving the sector depth that defines our firm".
Published by HT Digital Content Services with permission from VC Circle.