Hyatt Hotels likely to cross the 50-property mark in India by 2023

Betting big on the Tier-II market in India, US-based hotel chain Hyatt Hotels Corporation is looking to add 22 more properties to its existing 29 hotels, taking the total number to 51 in the next five years.

It is looking to add properties in non-metropolitan cities such as Visakhapatnam, Surat, Vadodara and Agra. The company is currently present in 18 cities, including Delhi, Bengaluru and Mumbai.

“We will have a new property in the hill town of McLeod Ganj in Himachal Pradesh in the fourth quarter of this financial year,” said Peter Fulton, group president (Europe, Africa, West Asia and South West Asia) Hyatt Hotels Corporation.

It is also looking at opportunities to develop more resorts in Coorg and Goa and will come up with another hotel in Bengaluru by early next year.

International hotel brands are on an expansion spree in India as the hospitality sector here is growing at the rate of 16 per cent, year on year, and occupancy has crossed the 65 per cent mark. Besides, the easing of hiccups around demonetisation and the rollout of the goods and services tax is also expected to give a boost to the sector.

Last month, Marriott International became the first international hotel chain in India to touch the 100 mark. However, Fulton said if it was only Marriott, there wouldn’t have been 100 hotels for the chain in India. The acquisition of Starwood Hotels & Resorts allowed Marriott to touch the three-digit mark, he pointed out.

Marriott International, which currently has over 21,000 rooms in the country, leaves Hyatt far behind with 7,000 rooms. Among the local players, Indian Hotels Company-owned Taj holds the highest inventory, with over 14,000 rooms.

On this vast gap, Fulton said: “We never aim to be the biggest but we want to be the most relevant and the best.”

The US-based hotel is looking to hire 11,000 more employees in India in the next five years. At present, it has a headcount of 12,600 in the country.

The company on Wednesday announced the entry of its seventh brand ‘Hyatt Centric’ in India with a property in Bengaluru. Its other brands include Park Hyatt, Miraval, Grand Hyatt, Hyatt Regency, Hyatt, Andaz, Hyatt Centric, The Unbound Collection by Hyatt, Hyatt Place, Hyatt House, Hyatt Ziva, Hyatt Zilara and Hyatt Residence Club.

Source:-http://www.business-standard.com/article/companies/hyatt-hotels-likely-to-cross-the-50-property-mark-in-india-by-2023-118052400383_1.html

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