American hospitality giant Hyatt has envisaged expanding its property footprint in India, taking its presence to 25 operating hotels in India by this year-end, even as it brings in more brands, and bets on existing ones.
At present, Hyatt’s India portfolio includes 24 hotels across 15 key cities in the country. With over 6,000 rooms, the company’s presence in India is represented by the five top global brands of Hyatt; namely, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt and Hyatt Place. A sixth brand Andaz will enter India later this year.
Explaining the Indian road map to DH, Hyatt Hotels and Resorts Vice President (Operations) Kurt Straub said, “At Hyatt, we’re aligning our growth to leverage new demand in domestic travel and expect to expand into several new markets in India. We’ll be opening the Andaz Delhi at Aerocity in the forth quarter of 2016. In addition, a number of Hyatt Place hotels are being planned, in markets such as Rameswaram and Hyderabad, and we also look forward to the opening of Grand Hyatt Kochi in 2017.”
Straub said that the company is specially bullish on developing the Hyatt Place brand, saying, “Our select service model — Hyatt Place is a large part of our growth strategy in India. The brand is becoming very attractive and popular in the country as it offers a stylish, comfortable and cost-effective option for business travellers and families in tier I, II, and III cities.”
He said that the Andaz Delhi will boast of 401 loft-style guestrooms, including 45 suites, and an additional 129 serviced apartments, along with 37,500 sq feet of unique event spaces, including a ballroom, courtyard and Andaz Studios. The Grand Hyatt Kochi will be an urban resort set amidst Kochi’s serene backwaters.
The Indian luxury market is poised to expand five-fold in the next three years. According to the data shared by the NITI Aayog, the Indian luxury segment has the potential to grow from the current at $18.5 billion to $50 billion by 2020, and to $180 billion by 2025.
Referring to the Indian hospitality scene, Straub said, “With a growing economy, changing lifestyles, perceptions and preferences, India has definitely seen a boom in the hospitality industry. People travel for leisure and business, while MICE as a segment has seen tremendous growth.”