Our client, Emaar Properties Plc. is a public joint stock company listed on the Dubai financial Market with reported annual profits of AED 4.731 billion for the year ended December 31, 2005.
In 2004, HVS International’s New Delhi office was assigned the task to evaluate the market potential, recommend a development strategy and undertake the feasibility study for development of an international convention centre and a first class business hotel in the city of Hyderabad.
Having completed the feasibility component for the Hyderabad International Convention Centre (HICC), the New Delhi office was retained by the client to assist is the process of operator search and management contract negotiations, following which the Executive Search division of the New Delhi office successfully placed the pre-opening management team for the development.
The HVS Assignment
The Hyderabad International Convention Centre (HICC) was planned as a purpose-built convention facility located in India’s fastest growing high-technology corridor.
The first objective of this assignment was to determine the market positioning and financial feasibility of the proposed hotel, recommend a development strategy, analysing the economics, recommending the size and quality, standard, facilities, marketing affiliation, time line and projecting income and expense for all the planned components. Additionally, HVS also provided an estimate of the development cost and performed a Return on Investment analysis for the proposed development. The second phase of the assignment involved potential branding for the proposed hotel and to assist our clients through the negotiation process by advising them on the achievement of the best possible management contract and to safeguard the interests of our client through the negotiation process. Having completed the first two phases, the Executive Search division of the New Delhi office once again successfully placed the pre-opening management team for the development.
HICC was opened in January 2006 under the management of Accor Hotels. The facility offers convention and event organisers 291,000 square feet of primary meeting space with a capacity to seat 5,000 delegates, 250,000 square feet of pre-function areas supported by 32 break out rooms that can be increased to 6,500 delegates for special events. The centre is equipped with state-of-the-art automated facilities and the latest audio-visual technology. The adjoining Novotel Hyderabad, which opened in April 2006, is the first new-build Novotel for Accor in India and part of an aggressive expansion for the group and its hotel brands around the country.