HVS hives off non-core services to new entity

NEW DELHI: Global hospitality consulting firm HVS is restructuring its business in India by transferring its non-core services like debt syndication, project execution and planning and investment advisory in India to a new entity, Hotelivate.

HVS India’s senior executives hold equity in the new entity along with the New York-headquartered firm’s CEO, Steve Rushmore Jr. Manav Thadani, chairman, Asia Pacific, at HVS, confirmed the move.

“Non-core services of HVS are transitioning under the Hotelivate brand while the existing core services of HVS including consulting, executive search and asset management continue to be operated as HVS license and brand services,” he told ET in an email response.

“The new company is the entity under which the businesses are now being operated,” Thadani said.

HVS, which provides hotel valuation, asset management, contract negotiation and brand management services to top hotel chains across the globe, operates through joint venture arrangements in different markets.

Founded in 1980, HVS has over 40 offices across the globe and specialises in all types of hospitality assets including hotels, restaurants, shared ownership lodging, mixed use developments, casinos, golf courses and country clubs, and conventions, sports and entertainment facilities.

Hotelivate’s stated services include project execution, planning and advisory, debt advisory, and professional skills development.