The US-headquartered Hyatt Hotel Corporation plans to add 24 new hotels in India in the next 36 months, taking the number of Hyatt-branded hotels in the country to more than 50, a senior company executive said.
Dhruv Rathore, VP, Real Estate and Development India, Hyatt.
He said that India remained a growth driver for Hyatt and with planned expansion, the Indian brand portfolio would grow by more than 70% by 2023. Of this, six new hotels are planned to open in 2021 under the Hyatt Regency and Hyatt Place brands. . Hyatt, for which India is currently among the top three growth markets globally, currently has 7,000 rooms in its current portfolio of 32 hotels across its eight brands. These include the Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric and Hyatt Place brands. With new hotels at 24 destinations including Vadodara, Thiruvananthapuram, Vijayawada, Jaipur, Bharuch, Dehradun, Bodh Gaya, Chandigarh, Ghaziabad, Bengaluru, Surat and Tirupati, the company will add around 3,600 rooms.
“Obviously, the epidemic is a major stumbling block for the hospitality business, but I think India is sitting quite well due to its domestic consumption like China, where there is enough in the economy to sustain hospitality with domestic tourism. Obviously, international tourism will also return, ”said Mr. Rathore, adding that in the leisure segment, occupancy was close to pre-COVID levels, while the business segment was also showing a month-on-month increase.
He said he was excited about the opportunities coming in the leisure segment, which lifted the lockdown.
“I think the other interesting segment to develop is independent hotels that want to tie up with brands. I think people who are running independent hotels, perhaps as a result of this situation that we have seen in the last 12 months, have realized that it may be worthwhile for them to risk themselves for a much larger and global distribution. With the ups and downs in the business and we are seeing some independent hotel owners reaching out to us, ”he said.
When asked about the revenue, Mr. Rathore said that the growth will come from new portfolio additions. However, they did not share any numbers. “Hotels currently coming to pre-COVID levels will take some time to reach 2019 numbers. Therefore, we are not seeing development from our current base today until we come out of this whole epidemic. Everyone has a different perspective on time… I think 2023 says that you will be back to 2019 levels, but again as the number of hotels increases, you will also have the initial revenue to go into the portfolio, Which may be offset to some extent, ”he said.
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