EXHIBIT 23.2

                                 HOULIHAN LOKEY HOWARD & ZUKIN
                       -----------------------------------------------
                              A SPECIALTY INVESTMENT BANKING FIRM

February 27, 1997

To the Board of Directors of
WMS Hotel Corporation

We consent to i) the  attachment of our solvency  opinion  letter as an Annex to
the  Form 10 for WMS  Hotel  Corporation  and ii)  use of our  firm's  name  and
description of our solvency opinion and analysis prepared in connection with WMS
Hotel Corporation's proposed spin off from WMS Industries Inc.

Very truly yours,

HOULIHAN, LOKEY, HOWARD & ZUKIN, INC.