REGIONAL ANALYSIS India's Hospitality Conundrum

Sitting on an airplane I had a chance to dig into the pages the excellent hardcopy magazine Hotel's Investment Outlook.
One key analysis which jumped off the page was a comment by leading US investment house Equity international's Gary Garrabrant who spoke on why the first is targeting as many as 100 midscale hotels in India.
Garrabrant was sharp, concise and to the point saying "It is rare to find a scenario where there is a marriage between growth and value. India has spectacular growth potential, but with unexpected changes to the economy there is no competition to acquire, as the big private equity players are in full retreat."
Based on my own experienced, unfortunately in other parts of Asia such as Thailand where illogical hospitality investment is riding a wild bull, the relationship between fundamental investment and upside potential remains obscure. For the moment at least.