The Hotel Investment Conference – South Asia (HICSA) 2025, organised by Hotelivate, successfully concluded its 20th edition at The Westin Mumbai Powai Lake, marking a milestone moment in the evolution of South Asia’s most influential hospitality investment summit.

This landmark edition drew over 760 delegates from across 16 countries, bringing together global hotel owners, investors, operators, developers, lawyers, bankers, and consultants to engage in powerful dialogue on the future of hospitality in South Asia and beyond. With over 100 influential speakers and 30 thoughtfully curated sessions, the two-day conference in addition to the Owners Only workshop offered invaluable insights into a wide array of topics

The opening day of HICSA 2025 put hotel owners centre stage with an exclusive, owners-only workshop. Discussions spanned a wide range of topics, from exploring new investment opportunities in South Asia to navigating debt structuring and the importance of building efficiently and sustainably. Every key concern facing owners was addressed. The day concluded with a high-profile panel of prominent owners sharing their biggest challenges and concerns within the industry.

Key takeaways:

• Efficiency Beyond the Back of House: Emphasizing the need for efficiency across the entire hotel—not just in the back of house—is critical, given the significant energy use and space occupied by these areas.
• Masterclass on Management Contracts: A deep dive into how management contracts have evolved over the past two decades, highlighting areas that still need improvement to better serve hotel owners.
• Designing for Sustainability: A high-profile panel of hotel designers discussed the growing importance of sustainability in hospitality projects, including the often-overlooked impact of embodied carbon in construction.
• Closing Panel with Hotel Owners: The day concluded with a distinguished panel of hotel owners sharing real-world challenges in hotel development, navigating relationships with operators, and offering their perspectives on the future of the industry.

HICSA 2025 provided a moment of reflection for the hospitality industry—looking back at its evolution, analysing the current landscape, and envisioning what lies ahead. As industry leaders shared their insights, several key themes emerged.

Key Takeaways:

• Growth & Caution: India’s hospitality sector has grown fivefold since HICSA’s inception, with particularly strong momentum over the past two years. While the expansion is encouraging, industry leaders caution that this pace may not be sustainable in the long run, urging a more measured approach as the market matures.
• Current Challenges and Opportunities: Domestic tourism in India continues to thrive, yet inbound tourism remains underdeveloped compared to other Asia-Pacific countries. Globally, rising RevPAR is largely driven by price increases rather than volume. Experts note that as the industry moves toward maturity, a pivot in growth strategies will be essential.
• Strategic Focus for the Future: Jesper Palmqvist offered a piece of advice to the industry to focus on things completely in their control. To navigate ongoing global economic uncertainties, the focus must shift from aggressive expansion to operational efficiency. Enhancing cost management and profitability will be critical, with resilience and smarter business practices becoming the new growth drivers.
• Shifting Travel Trends: Abhishek Loghani highlighted India’s demographic advantage presents unique opportunities. Travel trends show a rising demand for “Insta-worthy” experiences, fuelled by social media influence. There’s also growing interest in drivable, off-the-beaten-path destinations near urban hubs. Traditional hotel models need to evolve to meet increasingly diverse traveller expectations—offering “different strokes for different folks.”

HICSA 2025 brought together top leadership from across the global hospitality landscape, with representation from luxury icons, innovative disruptors, and legacy brands. While optimism around India’s growth story was shared across the board, several global CEOs took the stage to announce bold plans for expansion in the country.

Key takeaways:

• Kevin Goh in Conversation with Megha Tuli: Kevin Goh emphasized the gap in India’s extended-stay market and how Ascott’s unique product offerings are well-positioned to fill it. He announced plans to grow Ascott’s portfolio in India to 12,000 rooms by 2030, signalling a strong long-term commitment to the region.
• Vikram Oberoi with Rattan Keswani: In a heartfelt conversation, Vikram Oberoi reflected on the rich legacy of the Oberoi Group and its people-first philosophy. He highlighted the critical role of learning and development and shared a timeless piece of advice passed down through generations: “Ask questions.”
• Ritesh Agarwal with Megha Tuli: Ritesh Agarwal spoke candidly about OYO’s disruptive journey in the Indian hospitality landscape and their next big challenge—cracking the American motel market. His insights shed light on the evolving ambitions of the company.
• Kenneth MacPherson with Achin Khanna Kenneth MacPherson reaffirmed India’s strategic role in IHG’s growth story. He expressed confidence in the country’s trajectory, stating that India’s success is “built on strong, enduring fundamentals.”
• Leaders Panel: Strategy vs Flexibility: A panel of senior leaders discussed the delicate balance between long-term planning and the need to remain agile in a rapidly evolving market. The consensus: have a five-year plan—but stay ready to adapt.
• Power-Packed Leadership Panel moderated by Mohit Nirula: An inspiring discussion on leadership and career growth featured Anil Chadha, Anuraag Bhatnagar, Rajeev Menon, and Sanjay Sethi. Reflecting on the shift from general manager to CEO roles. This panel received a standing ovation as the leaders reflected on their journeys., the lessons learned and the importance of surrounding yourself with the right talent.

• Sébastien Bazin, Rahul Bhatia & Pieter Elbers with Manav Thadani: Accor and Interglobe announced landmark collaborations aimed at embedding Accor deeply in the Indian market. Sébastien emphasised a quality-focused approach to growth. Through strategic partnerships with Treebo and IndiGo airlines, Accor aims to establish itself in the Indian market.

Innovation has always been at the heart of HICSA, and in 2025, it moved into high gear with focused discussions around mixed-use developments, smart building practices, and sustainable construction.

Key Takeaways

• Ashish Jakhanwala underscored the importance of building intelligently and with purpose, emphasizing that success lies in designing for the right kind of traveler. Backed by data, he noted that room rates are not necessarily tied to room size or design alone—rather, strategic design and smart development allow investors to optimize returns.

• The Luxury and Boutique Hotel panels took a deep dive into what the modern traveler truly values. A boutique hotel, they agreed, is defined not just by its intimate scale, but by distinctive architecture and an authentic, non-replicable identity. These properties often have a strong sense of place, deeply rooted in the local culture and community—making them more than just places to stay, but places to experience.

The curated experiences and awards at HICSA were well received and celebrated. ‘HICSA Hotels of the Year Awards’ presented by MakeMyTrip, saw seven winners across the seven categories and a critic’s choice award. The winner of the Critics’ Choice Award was The Lotus Palace, Chettinad.

The winners across the other six categories were:

• • ITC Ratnadipa, a Luxury Collection Hotel, Colombo in the Luxury Hotels segment
  • Hilton Kathmandu for the Upscale/Upper Upscale Hotels segment
  • Hyatt Place Aurangabad Airport in the Upper Midmarket Hotels segment
  • Moxy Bengaluru Airport Prestige Tech Cloud in the Budget & Midmarket segment
  • Morickap Lords 83, Trademark Collection by Wyndham in the Boutique segment
  • Hyatt Centric Ballygunge Kolkata in the Conversion – Urban segment
  • Ronil Goa – JDV by Hyatt in the Conversion – Leisure segment

The General Manager of the Year Awards, presented by MakeMyTrip was another highlight this year. These awards are a wonderful opportunity to recognise and highlight the hard work and outstanding performance displayed by the General Managers untiringly running the show.

• Budget and Economy category, the winner was Prafull Dhapate – Holiday Inn Express, Pune Pimpri
• Midmarket/ Upper Midmarket category– the winner was Divakar Shukla – Holiday Inn Chennai OMR IT Expressway
• Upscale / Upper Upscale category, the winners was Amardeep Singh – The Westin Resort and Spa Himalayas
• Luxury category, the winner was Abhimanyu Singh Lodha – The Lodhi New Delhi

With the successful culmination of HICSA 2025, Hotelivate is now gearing up for the 21st edition of HICSA and planning tto bring it back better than ever. HICSA 2026 will return to Mumbai on the 8th and 9th of April 2026. As the company expands its global hospitality footprint, the commitment to innovation, collaboration, and thought leadership remains stronger than ever.