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
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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 2024
2024 was a sumptuous feast, even if the Xacuti seemed to be under par. The India Hotel Market Review 2024, published by Horwath HTL, presents a comprehensive analysis of the country’s hospitality sector, highlighting its growth, challenges, and future opportunities.
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.
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.
India: Evolving the service playbook
As India’s hotel sector emerges from the second wave (W2) of the COVID-19 pandemic, it is crucial to recognize the distinct challenges compared to the first wave (W1). The widespread impact of W2 has left deeper scars, with more people directly affected by the virus and significant deficiencies in infrastructure and medical care. The emotional toll on society has been profound, marked by the inability to bid proper farewells to loved ones.
India Hotel Market Review 2020
The Indian hotel market faced unprecedented challenges in 2020 due to the COVID-19 pandemic. This year-end report, a collaboration between STR and Horwath HTL India, provides an in-depth analysis of market performance, opportunities, and challenges for hotel owners, investors, developers, and operators.