Cushman & Wakefield (C&W), a global real estate consultancy today announced the appointment of P.R. Srinivas as the Director of Hospitality Services in India. Srinivas is a highly accomplished Hospitality & Tourism professional with over 20 years of experience with expertise ranging from operations, planning and consulting for noteworthy Indian and International brands. At Cushman and Wakefield, he will spear head the business growth strategy with key focus on managing and augmenting the already successful Hospitality operations whilst enhancing the service delivery capabilities for our clients.
C&W Hospitality in India has access to more than 50 markets across India including mega cities, Tier 2&3 cities, destination- gateways. Srinivas will look at opportunities that will enable Cushman & Wakefield to provide integrated services and a wider scope of delivery to clients. He will be supported by a team of highly specialised hospitality team based at various locations across India, providing a services ranging from Consulting and Valuation, Transaction and Asset management.
The Hotel & Tourism sector is among the top ten sectors that have seen highest FDI for the year as of June 2013, attracting 3% of the total FDI into the country. The sector is currently witnessing disinvestments and/or restructuring of hotels. The expected revival in economy, occupancy levels are likely to increase in the coming years with increasing foreign tourist arrivals and strong domestic tourist volume in India. In the light of the existing suppressed market conditions, developers and hotel companies are exploring various business models to expand their businesses in India.
Commenting on the recent appointment, Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield stated that “It has been a consistent effort globally to bring senior talent to C&W. This appointment will strengthen Indian Hospitality capabilities and we are delighted that such a highly respected seasoned professional has joined us. Under Srinivas’ leadership, we have every confidence that C&W Hospitality will enter a new phase of Hospitality Services that would further enhance quality services and partnerships with our clients.”
In his previous stint, PR Srinivas led the Tourism, Hospitality and Leisure vertical for Deloitte India. Prior to Deloitte, he was a founding member of Pannell Kerr Forster in India and formerly, with an independent tourism consulting firm based in New Delhi. He has worked with some of India’s most iconic assignments such as the World Bank commissioned Buddhist Tourism Circuit, and the master plan of ‘Shilpgram’ in the vicinity of Taj Mahal, Agra are some out of the many assignments Has led and been a key team member in several assignments involving tourism policy and strategy formulation, master plans, project development, privatization, partnership searches, business planning, market and financial feasibility.
Akshay Kulkarni, Regional Director – Hospitality, South and South East Asia, Cushman & Wakefield, said “Srinivas is a highly respected and sought after Hospitality consultant in the country. His wealth of experience and insight in this sector will not only bring strategic thinking to the team but will add to the business numbers. With the growing interest of International Hotel brands in the Indian market its only apt to have onboard an experienced person who will render sound consulting & transaction advisory to our existing and prospective clients.”
On this appointment, P .R. Srinivas, Director, Hospitality Services India, Cushman & Wakefield said “I am happy and look forward to working with the experienced team at C&W and help take it to the next level along with the leadership team. I am thankful to C&W for having me join the team in this time of change witnessed by the evolving Indian hospitality sector.”