Hyatt Hotels Corporation (NYSE: H) today announced that 2019 will mark record growth for Hyatt in India. Expansion plans foresee the addition of over 2,100 guestrooms through the opening of more than 14 new properties over the next 24 months. Aside from growth in the larger capital cities, the emphasis will be on leisure and cultural destinations, with a focus on emerging cities within India.
As a result of an increasingly favorable business climate and heightened tourism spend, encouraged by relaxed visa rules and a growing upper middle class, there is a general demand for growth in the hospitality industry in India. This expansion includes hotels in eight new markets in the country, thereby establishing Hyatts brand presence across 27 cities in India over the next 24 months.
Hyatt is one of the longest-running international hotel management brands in India, the first Hyatt hotels in India opened over 30 years ago, said Dhruva Rathore, vice president development-India, Hyatt. Our heritage and experience in this complex market, paired with the strong relationships we hold with local developers and owners has helped make India one of the top three growth markets for Hyatt globally.
This years expansion began with the introduction of the Hyatt Centric brand through the opening of Hyatt Centric Candolim Goa. New to the Hyatt portfolio as part of the Two Roads Hospitality acquisition in November 2018, the Alila brand also added two new properties in India, located in Diwa Goa and Fort Bishangarh. Later in the year, Hyatt plans to expand its brand footprint in Kerala with the opening of Hyatt Regency Kochi Malayattoor, a resort property on the banks of the Periyar river, and Hyatt Regency Thrissur, providing travelers with the first premium hotel in Thrissur. Hyatt also plans to add its first resort in The Himalayas with the anticipated opening of Hyatt Regency Dharamshala Resort in the second half of 2019. Gurgaon will also be in focus in later 2019, with the scheduled opening of Grand Hyatt Gurgaon. These hotels will add over 1,000 guestrooms to Hyatts existing offering in India and will establish its brand presence in four new markets.
For Hyatt, India has a high growth potential and remains a market where we can expand our brand representation. Being focused on intentional growth gives us a unique edge as Hyatt can differentiate by having the right assets in its portfolio, said Sunjae Sharma, vice president operations-India, Hyatt. We look forward to collaborating with owners who want personal, flexible relationships and to stand out in a slightly overcrowded market. Most importantly, we want to be where our guests are traveling, and our growth strategy is in line with their preferred destinations.
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PLANNED OPENINGS IN 2019:
- Hyatt Regency Kochi Malayattoor (Q2 2019)
- Hyatt Regency Dharamshala Resort (Q3 2019)
- Hyatt Regency Thrissur (Q3 2019)
- Grand Hyatt Gurgaon (Q4 2019)
PLANNED OPENINGS IN 2020:
- Hyatt Place Bangalore Urbana (Q3 2019)
- Hyatt Regency Jaipur Mansarovar
- Hyatt Regency Dehradun
- Hyatt Place Vadodara
- Hyatt Regency Trivandrum
- Hyatt Place Jaipur Malviya Nagar
- Hyatt Regency Udaipur
The term Hyatt is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 19 premier brands. As of December 31, 2018, the Company’s portfolio included more than 850 properties in 60 countries across six continents. The Company’s purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests and create value for shareholders. The Company’s subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination, Hyatt Regency, Hyatt, Hyatt Ziva„¢, Hyatt Zilara„¢, Thompson Hotels, Hyatt Centric, Hyatt House, Hyatt Place, Joie de Vivre, tommie„¢, Hyatt Residence Club and Exhale brand names, and operates the World of Hyatt loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as may, could, expect, intend, plan, seek, anticipate, believe, estimate, predict, potential, continue, likely, will, would and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause our actual results, performance or achievements to differ materially from current expectations include, among others, the rate and the pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the U.S. Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.