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Hyatt Plans More Hotels in India
Luxury hospitality group Global Hyatt Corp is banking on smaller Indian cities for expansion over the next four years, with a company official Friday saying this was where the future lay. At present, Hyatt operates five luxury hotels in India – two in Mumbai, and one each in Delhi, Kolkata and Goa. Now it will make a $200-million foray into the mid-sized hotel segment in tier-II and even tier-III cities.
“There is a huge gap in the demand and supply of hotel rooms and we see enough scope for expansion, especially in tier-II and tier-III cities,” Steve Haggerty, the company’s global head of real estate and development, told reporters. Ratnesh Verma, senior vice president of real estate development for South Asia, said the new hotels will come up in Gurgaon, Hyderabad, Mysore, Lucknow, Indore and Mangalore under the brand name Hyatt Place. “These will cater to the upper mid-segment,” he said. “The Hyatt Place chain will be launched by 2011 in a joint venture with (real estate major) Emaar MGF. The hotels will add 950 hotel rooms across the six cities,” Verma added.
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