Hotelivate: The Beginning
Here, There, Everywhere, Him, Her, and Them. That, in a nutshell is Hotelivate. Curious? These are the names of offices and conference rooms at their headquarters in Gurgaon! With Manav Thadani, Achin Khanna and Megha Tuli steering this ship, the ethos is that of a dynamic, ever-evolving, constantly curious and highly collaborative approach towards problem-solving and serving client needs. Something as small as typical boardroom names in an office are then just a reflection of their quirky and innovative company culture.
Manav, a serial entrepreneur and trusted advisor in the hospitality sector, brings a wealth of knowledge and network to the table. His journey, from introducing professional consulting expertise in a market unaccustomed to it over 25 years ago, to establishing HVS South Asia and later heading its operations as the Asia Pacific Chairman, speaks volumes about his ability to identify and capitalize on emerging opportunities.
Achin, with his experience in hospitality finance, research and data analytics, contractual framework assessment, and overall hospitality business planning, first in the United States for a decade and then in South Asia over the past 17-years, added a unique dimension to the partnership. As the Managing Partner at Hotelivate and head of the firm’s Strategic Advisory practice, Achin’s expertise in consulting assignments coupled with his feverish passion for language and literature, allowed him to contribute a nuanced and comprehensive push to the proliferation of HVS South Asia for over a decade, leading into co-founding Hotelivate in 2017.
Megha brought a fresh and dynamic perspective to the team. Her ability lies in bringing ideas to life and structuring them for growth. Her background in hospitality from École Hôtelière de Lausanne coupled with an innate ability to quickly grasp a vast array of skills that are not just limited to hotel and real-estate finance, but also the rapidly changing world of tech, digital economy and now AI have helped Hotelivate carve itself into a niche that more traditional consulting firms ignore at their own peril. Megha’s ability to bring it all together complemented both, Manav’s capability to capitalise on his strong relationships and Achin’s consulting acumen.
It is interesting to note that when Hotelivate initially took shape, there were five partners. The COVID-19 pandemic saw the world grapple with unprecedented challenges. Change in circumstances led two of the original partners to re-evaluate their professional paths and they found their next callings.
“We weren’t always experts. But we learned, we grew, and we built something special together, a small office with big dreams,” says Manav.
Hotelivate, incidentally, is a premier hospitality consulting firm providing services across the Asia-Pacific and Middle East regions. They offer a comprehensive range of consulting services through a diverse team of consultants with a combined professional experience of over 250 years across various verticals in the hospitality industry.
With a focused, empathetic, and innovative approach, Hotelivate serves a wide range of industry stakeholders, including hotel owners, developers, brands, and investors, throughout all phases of the hospitality lifecycle consulting. This approach eliminates the need for multiple advisors, streamlining the consulting process for clients.
Hotelivate’s services span from inception to divestment of hospitality ventures, offering practical and tangible value-adds at every stage. Whether you are embarking on a new project or looking to enhance the performance of an existing one, they provide tailored solutions to meet your specific needs and achieve your goals.
The Hotelivate Story Unfolded
Like any business venture, Hotelivate encountered its fair share of challenges. From economic downturns to global crises, the firm’s resilience and adaptability played a crucial role in overcoming obstacles. As numerous businesses faced the necessity of downsizing, Hotelivate was no different. Manav reminisces that he did face a setback when Natwar Nagar and Saurabh Gupta branched out; however, they were friends and colleagues first, so their relationship still remains special. As an organization with a flat structure, they prioritized maintaining equal and fair treatment for all employees. During the pandemic, while the partners took pay cuts and the team had salary reductions, Hotelivate ensured that, over time, all employees were paid back their rightful dues.
In FY24, Hotelivate opened two new offices in strategic locations — Thailand and Dubai. This expansion not only underscored the company’s commitment to global reach but also positioned it as a key player in the flourishing hospitality markets of Southeast Asia and the Middle East.
Manav on being asked “You must have worked with a lot of people who are industry leaders today, how does it feel for you to have seen them transition through different roles?” said that it is sheer delight to see people he’s worked with, grow and prosper. While the names are too many, a few of them still bring a smile to his face.
When asked “What’s happening next?”, there was a unanimous answer followed by a hearty laugh! “HICSA!” Being a part of the hospitality fraternity, it is impossible to not know about the most premier hospitality event of South Asia.
Guiding Lights: A Deep Dive with Hotelivate’s Thought Leaders
Manav Thadani, Founder-Chairman, Hotelivate
Hotelivate is in its seventh year, how has your vision evolved since its inception?
Call it the seven-year itch but this year has seen Hotelivate expand internationally. Unfortunately, for us, while this was planned in 2020-21, COVID had other plans and that really set us back. Like any entrepreneur, you try and learn. We thought we would diversify into more areas of service but quickly learnt to focus on our core skills through the pandemic. Fortunately, the markets grew and allowed us to grow with them.
There are failures and obstacles everywhere and we’re sure Hotelivate is no different. What were the key challenges you faced in the early days or the recent years, and how did you overcome them?
One key take-away for me has been that we don’t want to be in businesses where the fee volume per transaction is low (other than conference delegate fees). The amount of time and effort it takes to collect fees in Asia is not easy. Therefore, we exited businesses that were small tickers, such as marketing services, professional skills development and revenue management. Instead, we continued to focus on higher value assignments. As Hotelivate, our average strategic advisory fees grew by 20%, Executive Search by 35-40% and conference revenues beat inflation. The future belongs to transactions.
As the founder, how do you see Hotelivate contributing to the future of the hospitality sector?
We have always remained true and honest of our opinions to what we think is best for the situation or site in question. That is what has put us ahead of so many others. Now it’s time for us to expand that to newer markets. We want to be seen as more of an international player now.
Hotelivate has a larger footprint and global presence now. What next? Where do you see Hotelivate in the next seven or probably 10 years?
I have stopped projecting that long. We will take it two-three years at a time. We may grow on to become more global or we may join hands with a larger company to get a stronger foothold in some key markets. Being independent is great as it allows us a lot more choices.
Achin Khanna, Managing Partner | Strategic Advisory, Hotelivate
What advice would you offer to aspiring professionals looking to make a mark in the hospitality and consulting sector?
When seen through the lens of career options, both, the hospitality sector and the consulting vocation, are niche professions. My advice is that professionals with an analytical bent of mind, love for the languages and a passion for the hotel business should consider pursuing a career in this space. There is a two-pronged benefit to young professionals who invest in this career path. First, the sheer depth of knowledge and experience that one gains by interacting with senior industry stakeholders such as hotel owners, investors, lenders, etc is unparalleled. Second, hospitality consulting offers a very solid foundation that then leads to a steep career growth trajectory in the corporate hotel space. Several industry leaders across hotel brands as well as hotel ownership companies, both in India and across the globe, are my ex-colleagues.
What are some traits that resonate with you when it comes to leadership?
Over the past 17 years as a hospitality consulting professional, I’ve had the pleasure of overseeing a dozen teams of very talented consultants. There are a few key traits to leadership that have held me in good stead. Listening to contrarian views is key. Being equitable is extremely important. A third trait is being both, firm and polite at the same time. I have learned that these two habits are not mutually exclusive and can be honed, in parallel. Perhaps one of the most pertinent habits is that of being doggedly focused on quality as well as consistency. Finally, perhaps two less frequently found traits in many-a-leader are being curious and eternally optimistic. I am not propagating irrational exuberance. However, inquisitiveness and a keen interest in always trying to learn is important; so is the ability to both, see and show the opportunities ahead. There is no singular mantra to good leadership.
How has the ‘Hospitality India Story’ shaped up in the last two decades and where are we headed now?
The Indian hospitality landscape is steadily heading towards maturity. Presently, demand is outpacing supply across most markets and the need for quality accommodation continues to be on the rise. Investors and developers are also taking a more measured and business-pertinent view towards new constructions. A few key trends that are finding feet in South Asia include the acceptance of lifestyle and experiential products and brands, all-inclusive hotels and resorts, alternative accommodation, especially in the homestay and holiday-home space, the development of truly world class convention facilities and the growth as well as acceptance of branded residences.
Megha Tuli, Partner & Co-Founder, Hotelivate
As a co-founder, you’ve taken on multiple roles at Hotelivate. How has this shaped your approach to leadership in the hospitality sector?
In my six years as a co-founder, I’ve held four diverse roles, adapting to the evolving needs of our company. Whether it was the initial launch of Hotelivate, the introduction of our Project Execution Planning Advisory and Revenue Management services, expansion through alliances like our AI-enabled Energy Asset Management Platform, enhancements to our Conferencing offerings, or the current focus on establishing Hotel Transactions as a core capability. This diverse exposure has equipped me with a holistic view of the industry. This agility allows me to seamlessly connect different aspects of the business, providing a significant advantage for Hotelivate and its clients.
Given your current focus on Hotel Transactions, especially considering the recent success in closing a significant deal, how do you perceive the transaction landscape evolving?
One of the crucial moments that defined Hotelivate’s trajectory was the recent successful closure of the largest single asset deal in our firm’s history. Spearheading this transaction marked a turning point, showcasing our capabilities in navigating complex deals and dedication to impactful transactions.
The success of this transaction is indicative of the capital investments flowing into the hospitality sector, driven by a growing belief in the potential for hotel development. Notably, we’ve observed a heightened interest from regional corporate and industrial groups incorporating hotels into their diversification strategies. This evolving mindset reflects a broader acceptance of the hotel asset class among investors. The industry landscape is witnessing a positive shift, and Hotelivate’s role in spearheading such transactions positions us at the forefront of this exciting growth phase.
In today’s era of data analytics and technology, how does Hotelivate harness these tools to offer valuable insights and recommendations to clients?
A key focus for our differentiation strategy at Hotelivate has been our commitment to data mining and advanced analytics. Personally, this has been a passion project of mine, spurred by the realization that despite accumulating 25 years’ worth of industry data, it remained largely untapped. Over the past three years, substantial investments have been directed toward harnessing this data effectively. The outcomes have been exceptional, providing us with invaluable insights that significantly elevate the quality of our analyses for both clients and the wider industry.
In your perspective, what would you identify as a key factor contributing to Hotelivate’s success?
I believe one of Hotelivate’s fundamental strengths lies in the team’s diversity. Take Manav, Achin, and me, for instance – we are radically distinct individuals, spanning a decade apart from one another in age. While our perspectives often differ, this contrast fosters a refreshing approach to our business decisions. Surprisingly, we find more value in our disagreements than agreements. We share a common belief system in Hotelivate’s mission and its potential to contribute significantly to the sector. This unity extends beyond our trio, embracing gender inclusivity and diverse backgrounds, a spectrum of representation that all three of us take immense pride in.
Anjali Dureja, MD, Hotelivate Executive Search
Your journey from HVS to Hotelivate makes it a 20-year-long relationship with Manav. How have the last six years at Hotelivate been?
The association has been nothing short of incredible! I have learnt and I have evolved. Reflecting back, they have been challenging yet enriching and dynamic. For me, it is a pre-pandemic and post-pandemic world comparison. In the past, our forte had only been hospitality. During the pandemic, with the hospitality and aviation industry going through a slump, it became imperative for us to look for avenues for business which weren’t impacted as much. Looking beyond the realm of hotels, restaurants, and real estate, we have started working in the manufacturing and textile sectors as well.
Can you describe the key challenges you encounter in the executive search process and how they have evolved over time?
Hotelivate’s Executive Search division has become a well-established name in the industry. Not necessarily a challenge, but more as an opportunity, I think it needs a stronger footprint in the non-hospitality sectors. Interestingly, what we see these days is that there are many functions in which the skill sets are overlapping with that of hotels and restaurants, which are our core clients, are keen to hire talent from across sectors. This makes our job very exciting and keeps us on our toes because suddenly, you realise that the talent pool is so much larger! One challenge the industry must address is that GEN Z is interested in work-life balance, better compensations and not the hardships that the veterans in hospitality sector endured. How we balance this aspect is going to be critical.
And looking ahead…
The partnership of Manav, Megha, and Achin at Hotelivate symbolizes a blend of visionary leadership, strategic innovation, and operational excellence. Each partner brings in unique strengths and experiences, contributing to the firm’s success and influence in the sector.
Interestingly, Manav recently launched INJA, a unique Indo-Japanese fusion concept in New Delhi. This fine-dining restaurant is already winning industry accolades and is a must-try. Achin too recently opened a boutique hotel in Anjuna. ANAMIVA Goa is a quintessential art-themed resort, offering 22 designer guestrooms, a music-themed restaurant & bar, a bakery & books-themed café, a pool & spa. Megha incubated, grew, and then successfully sold a Food-Tech startup before co-founding Hotelivate with Manav and Achin. Weaving their passion for hospitality into entrepreneurial ventures has always been a part of the ethos for these three individuals.
Looking forward, Hotelivate aims to continue its journey of growth and evolution. While most of the Indian hospitality industry grew between 30-40% over the past year, Hotelivate achieved a 90% plus growth in revenue in the same period, making FY24 its strongest one ever in the past 27 years. As it celebrated its sixth anniversary, there was a sense of pride in the achievements so far, coupled with a forward-looking vision that promised more milestones, innovations, and successes in the years to come.
