Every week, it seems, brings more news about the perils facing the publishing industry: the death of the book, office closures, and mass layoffs. However, according to the Guardian, publishers (from the U.K. at least) headed to the Frankfurt Book Fair, which kicks off on Wednesday, are in a good mood and anticipating big sales.

One buzz book, Kiran Desai’s follow-up to her Man Booker Prize“winning debut novel, The Inheritance of Loss, has already been picked up by Sonny Mehta of Knopf U.S. for a staggering $2.5 million. Other big books being taken to the fair include new novels from Orhan Pamuk and Martin Amis and an authorized biography of Archbishop Desmond Tutu.

From the Guardian:

Patrick Janson Smith, publisher at the HarperCollins imprint Blue Door, said there was plenty of hype around this year’s fair, and claimed that publishers had already forgotten the recession-driven mood of austerity that hit Frankfurt buying in 2009. “People have short memories. It was instant panic last year but now it’s back to business,” he said, speaking on his mobile phone from a Brussels railway station en route to the fair.