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Mumbai, April 1

Hold on and continue to expand is what the hospitality experts had to tell the hotel industry at the Hotel Investment Conference – South Asia (HICSA) 2009, organised by HVS, the global consulting firm dedicated to the hotel, tourism and leisure industry. Speaking at the conference Mr Manav Thadani, HVS, said, “If you are not building today and wait for the turnaround you will miss taking advantage of the next upwards cycle.” Participating in the discussio n Mr Nakul Anand, of ITC, said, “The recovery in the Indian market is going to be faster than rest of the world. But, for the recovery here, recovery in other markets is more important.” Mr Raymond Bickson, of Indian Hotels, on the other hand, said that he would like to see more mergers and acquisitions happening, which will drive the course of the hotel industry. From the Government’s side issues related to taxation, licensing and hotel classification still remain to be addressed, Mr Thadani said. However, the Secretary of Tourism, Mr Sujit Banerjee, said the Government was very close to taking a decision on giving single window clearance to hotel projects. —

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