Hyatt Hotels Corporation said Wednesday that it plans to grow its brand portfolio in India by more than 70% by 2023.
With over 20 executed managed and franchised agreements, Hyatt will add more than 3,600 keys to its existing portfolio of 32 Hyatt-branded hotels across eight distinct brands in the country, including the Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric, and Hyatt Place brands.
”This announcement signals significant intentional growth plans for Hyatt, bringing the number of Hyatt-branded hotels in India to more than 50 by the end of 2023, resulting in a more diverse portfolio of hotel offerings in new and existing markets,” said the company in a statement.
India is one of Hyatt’s top three growth markets in the world.
“Hyatt’s pipeline in India reflects a thoughtful growth strategy by expanding into new markets and leisure destinations that are relevant to our guests and customers. We are thrilled to collaborate with a number of new and existing owners to bring these exciting projects to fruition. We are also focused on expanding our independent collection portfolio by teaming up with owners and developers who are eager to leverage our global distribution network and World of Hyatt loyalty program,” said Dhruva Rathore, Hyatt’s vice president real estate & development, India.
In 2021, Hyatt plans to primarily expand its Hyatt Regency and Hyatt Place brands. The Hyatt Regency brand, which continues to drive Hyatt’s brand growth in India, will enter two new markets with Hyatt Regency Jaipur Mansoravar, and Hyatt Regency Trivandrum.
The Hyatt Place brand will enter four new markets with Hyatt Place Bodh Gaya, Hyatt Place Jaipur Malviya Nagar, Hyatt Place Vadodara, and Hyatt Place Bharuch.
“India remains a growth driver for Hyatt, and we are committed to catering to the Indian traveler with a comprehensive portfolio of hotels,” said Sunjae Sharma, Hyatt’s vice president & country head, India.
“Despite the challenges the industry faced last year, Hyatt signed eight new hotels across various brands that will cater to the needs of both leisure and business travelers. The growth of the Hyatt Place and Hyatt Regency brands remain a key priority for India, with nearly 20 hotels under these brands expected to open across India by 2023,” he added.
