Vijay Thacker
Managing Director, Mumbai, India
Mr. Vijay Thacker, FCA, is the Managing Director of Horwath HTL India and Partner & CEO of Crowe Advisory India. With an illustrious career spanning nearly four decades, he has been a pivotal figure in the evolution of the Indian hospitality industry since 1986.
Mr. Vijay Thacker, FCA, is the Managing Director of Horwath HTL India and Partner & CEO of Crowe Advisory India. With an illustrious career spanning nearly four decades, he has been a pivotal figure in the evolution of the Indian hospitality industry since 1986. His extensive expertise has shaped some of the most significant projects in Indian hospitality, including consulting for the country’s largest hotel, award-winning luxury properties, and the first convention centre. He also played a key role in the strategic planning of the large-scale Delhi Aerocity hotel district.
Mr. Thacker’s contributions extend to industry-defining initiatives such as authoring pivotal analyses for the IPOs of two leading hotel companies (12 years apart) and India’s first hospitality-focused REIT. Additionally, he spearheads a Risk-Based Systems Review product supported by advanced digital security capabilities, demonstrating his forward-thinking approach to risk consulting and business advisory.
As a Chartered Accountant since 1983, Mr. Thacker’s professional repertoire spans business advisory, corporate finance, transaction structuring, risk management, taxation, and financial accounting. His expertise covers the hotel, tourism, and leisure sectors and extends across industries, benefiting clients and projects from 35 countries and over 100 cities and towns in India. His advisory experience is underpinned by decades of engagement in accounting practice until November 2018.
Mr. Thacker is a trusted corporate leader, serving as an independent director and audit committee member or chair for multiple companies. He is also a board member of Crowe Global, the world’s 8th largest accounting and consulting network, where he contributes to shaping global strategies.
His deep-rooted knowledge of hospitality consulting and his cross-sector advisory experience make him a visionary leader, driving innovation and value creation for clients and the industry alike.
Vijays' experience
Bold steps forward
We help ambitious clients achieve extraordinary outcomes.
ITDC & HCI – Divestment Valuation
India
Grand Hyatt – Feasibility Study
Mumbai, India
Public Offer Documents – Industry Reports
India
Leela Hotels – Brand Valuation
India
International Hotel Chain Portfolio Internal Audit and Operational Review
India
Operational and Performance Review, Budgeting Assistance for Leading Global Hotel Operator
India
Oberoi Hotels – Feasibility Study
Agra, Jaipur and Udaipur, India
Delhi Aerocity – Planning and Feasibility
Delhi, India
Expert insights
Cutting edge analysis.
India Hotel Market Review 2023
In 2023, India’s hotel sector continued its impressive growth trajectory, with key metrics showcasing significant improvements. The All-India Average Daily Rate (ADR) reached Rs. 7,479, marking a 31.6% increase from 2019. Supply growth hit a record high with 14,000 new rooms added, raising the total inventory to over 183,000 rooms across 2,553 hotels in 403 destinations. The sector’s market capitalization surged to Rs. 1,282 billion, a remarkable 473% increase from 2015.
India Hotel Market Review 2022
The Indian hotel market experienced a significant resurgence in 2022, marked by strong performances across various segments and regions. This year was considered exceptional by many in the industry, with numerous hotels achieving record-breaking results. According to a survey by Horwath HTL, 65% of respondents reported 2022 as their best year ever, while another 30% ranked it among their top three years.
Asia Pacific Hotel Sustainability Trends 2021
The “Asia Pacific Sustainability Trends 2021” report offers an in-depth look at sustainability practices within the hotel industry across 15 countries in the Asia-Pacific region. Compiled from data provided by 2,356 hotels, this sixth annual report examines the evolution of energy and water usage, cost trends, and the adoption of sustainability initiatives, particularly in the context of the COVID-19 pandemic.
Asia Pacific Hotel Sustainability Trends 2022
Greenview and Horwath HTL are pleased to present the annual Asia Pacific Sustainability Trends 2022 report, which is published for the seventh consecutive year. This report presents results of the 2022 Horwath HTL Asia Pacific Hotel Industry survey. For this year’s report, a total of 2,586 hotels across 15 countries participated by contributing information about their uptake in sustainability practices as well as utility data from 2021 calendar year. The data is compared against a 2019 baseline to provide insight into the average changes in energy and water consumption and costs by country and service type pre and post pandemic. Additionally, sustainability practices undertaken by hotels were also analyzed to understand implementation status at the country level. Continuous spreading of awareness and scaling of solutions globally will enable further advancement in this region. We are proud to support the industry’s effort to benchmark best practices in sustainability, with the results of this report contributing towards publicly available industry-wide initiatives for hoteliers to understand their properties’ sustainability standing: the Cornell Hotel Sustainability Benchmarking study, Green Lodging Trends Report and Greenview Hotel Footprinting Tool. We would like to acknowledge and thank the Honorary Advisory Board for the Horwath HTL annual hotel industry surveys and the supporting Country Hotel Associations for their participation and strong support.
India Hotel Market Review 2021
The 2021 India Hotel Market Review, a collaboration between STR and Horwath HTL India, provides a comprehensive analysis of the industry’s performance amid the ongoing pandemic. Despite numerous challenges, the market showed signs of recovery, primarily driven by domestic leisure travel.
Asia Pacific Hotel Sustainability Trends 2020
The “Asia Pacific Sustainability Trends 2020” report provides a detailed examination of sustainability practices in the hotel industry across 16 countries in the Asia-Pacific region. Despite the challenges posed by the COVID-19 pandemic, the report reflects ongoing efforts to improve sustainability across various aspects of hotel operations, including energy usage, water conservation, and the adoption of eco-friendly practices.