Courtesy/News Source: dnaindia.com

Hotel industry veteran Mandeep S Lamba is all set to head the hospitality vertical of global hospitality consulting firm HVS in India. Lamba is currently leading the hospitality business vertical of Jones Lang LaSalle (JLL) as its managing director and is based out of Gurugram. His tenure with JLL ends on Tuesday and a day after i.e. on Thursday, Lamba will assume the responsibility of HVS Anarock's hospitality vertical as its president - South Asia.

When contacted, Lamba confirmed the move to HVS Anarock without sharing any further details. While leading the hospitality consulting vertical out of HVS headquarters in Gurgaon, Lamba will be reporting to Hala Matar Choufany, president - HVS Middle East and Africa, Dubai who is based in Dubai. However, it is likely that the new role will call for a dual reporting said sources familiar with the development.

HVS Anarock's hospitality consulting business in India will comprise four verticals to be headed by specialists who will come on board over the next couple of months. The first one is the consulting and valuation vertical which will be the hardcore advisory business for hospitality. The second one is the transaction vertical comprising all activities including mergers, acquisitions, equity and debt advisory. "So that'll be anything to do with the financial side of selling, buying or funding hotel projects either through equity or debt," said a source.

Asset management will be the third vertical that will primarily represent the owner's interest with the hotel management / operating company. "This vertical keeps the asset owner updated on the hotel's performance benchmarking it with the competition, global indices etc. It will also brainstorm and finalise strategies with the hotel operator on ways to improve the performance, reduce costs and so on," said the source adding that this vertical will offer hardcore operational advisory.

Finally, executive search for the hospitality industry is the fourth vertical in the consulting business. "The four vertical will have individual heads leading each of them. In fact, HVS is already in advanced stages of onboarding the respective vertical heads," the source further added.

The New York-headquartered firm, HVS had earlier in May entered into a partnership with Anuj Puri led Anarock Property Consultants to relaunch the India business under the banner HVS Anarock. DNA Money had first reported the possibilities in its edition dated April 24, 2018. This development came into force after Stephen Rushmore Jr, president and chief executive officer of HVS parted ways with former partner Manav Thadani post a 20-year successful run thereby exiting the India market towards the second half of 2017.