India to get 11 new hotels under Hyatt by 2020 end
Hyatt Hotels Corporation is said be open for acquisitions for future growth if there is a merit in it.
The Chicago-headquartered, global hospitality firm, Hyatt Hotels Corporation, as part of its expansion plans in India, is planning to open 11 new hotels by the end of 2020 the country, a senior company official has said.
Sunjae Sharma, Vice President- India operations, Hyatt said, "We plan to open 11 new hotels across the country by end of 2020 as India is a very important growth market for us. The new hotels will be under our three brands — Grand Hyatt, Hyatt Place and Hyatt Regency. While the hotel at Gurugram will be under the Grand Hyatt brand, the hotels at Vadodara, Jaipur and Bengaluru will be under the Hyatt Place brand. The hotels at Thrissur, Kochi, Jaipur, Dehradun, Trivandrum and Udaipur will be under the Hyatt Regency brand."
The company is also said be open for acquisitions for future growth if there is a merit in it. On the business model, it follows in India and about plans in future, Sharma said: "We are mainly into management contract model, but we are also looking at franchise model with select partners in India. We follow the asset light model". The company is also looking at expanding in tier II and tier III cities with suitable brands.
"India is a very important market for us. It is one of the top three global growth markets for the company after the US and China and there is a huge scope of growth here as the demand still exceeds the supply," Sharma said.
Hyatt is one of the first international hotel management brands in India, having entered the market over 35 years ago with the first hotel under the Hyatt Regency brand in Delhi in 1982. Hyatt, currently, has 32 hotels across 20 destinations under its eight brands in India. The eight brands under the Hyatt portfolio in India are Hyatt, Hyatt Centric, Hyatt Regency, Hyatt Place, Park Hyatt, Grand Hyatt, Alila and Andaz.