It currently operates five hotels under the Hyatt Regency, Park Hyatt and Grand Hyatt brands in Mumbai, New Delhi, Goa and Kolkata. Hyatt Place, Hyatt Summerfield Suites and Andaz may now enter the Tier-I and -II cities.
"Our aim is to penetrate more cities in India while introducing more brands here. We will triple our hotel count in the next five years. Since our focus is of long term, we see our business here growing robustly," Harmit Singh, chief financial officer, Global Hyatt Corporation has reportedly said.
Most of Hyatt's future properties will either be completely managed by the company or partnered with a hospitality player, he said. "We will preferably go in for more of a management control structure and less of a partnership module," Singh told Business Standard.
Singh said Hyatt was feeling the impact of the downturn in the economy in the form of liquidity squeeze but ruled out any deceleration in the ongoing projects in India.
Currently, Hyatt, along with DB Hospitality is building a 70-storied luxury hotel in south Mumbai at a cost of more than Rs 10 billion. The tower, managed by the Park Hyatt brand, is set to become India's tallest building. Construction of the tower, which will overlook the Arabian Sea, has already begun and the luxury hotel will commence operation in early 2012.
The combine is also constructing a second Hyatt hotel in Goa. The 320-room 5-star hotel is expected to start operations by December next year. Hyatt already runs the Park Hyatt Resort property in South Goa, 15 minutes from the airport.
Incidentally, Hyatt has increased the security arrangement in all its hotel properties across the country after the Mumbai terrorist attack. The company is currently working with local authorities to increase surveillance activity and has also formed a contingency team to tackle any unforeseen events.
Mr. Singh who is reportedly in Hyderabad today could not be contacted. |