HBI Staff | Mumbai 
Hyatt Hotels Corporation, a leading name in the global hospitality sector, has announced its ambitious plan to bolster its presence in India by launching seven new hotels and adding 1,115 rooms across various leisure and urban locations in 2024. This expansion will increase its portfolio from the current 49 hotels in Southwest Asia to more than 55, including a new establishment in Bangladesh.
The company experienced a robust 33% year-over-year growth in RevPAR (revenue per available room) in 2023, fueled by high occupancy levels and an increase in average daily rates. Additionally, Hyatt’s leisure and wedding segments saw an impressive 50% growth over the same period, highlighting the brand’s strong performance and growing demand in these sectors.
“I attribute this growth to the change in the mindset of the consumer, which is mainly the Gen-Z and millennials. People are travelling more and that is the silver lining of the pandemic. Increased and improved connectivity, too, is helping boost tourism in the country — particularly domestic tourism,” said Sunjae Sharma, managing director, India and Southwest Asia, Hyatt India Consultancy.
“The consumer increasingly is leaning towards new experiences and that is what our focus is going to be. We have identified five cornerstones for growth – luxury, loyalty, leisure, lifestyle, and wellness,” Sharma said.
On the back of this boost in domestic tourism, the company debuted JdV by Hyatt – its ninth brand in the country – in February 2024.
“We aim to have a balanced portfolio in the country. It is not just about putting a flag everywhere. We want to thoughtfully expand our presence and go where the customer is going,” Sharma said.
“We don’t want to be the largest hotel chain, but the most preferred. These are very encouraging times and I see a lot of growth in the next five to seven years, with India becoming a big global player in the industry,” he added.
Going forward, the Hyatt Regency brand will enter a new destination with the slated openings of Hyatt Regency Kasauli and Hyatt Regency Ghaziabad, while the Hyatt Place brand is expected to enter three new locations – Aurangabad, Haridwar and Dhaka (Bangladesh). Hyatt Centric will expand its portfolio with expected openings in Hebbal, Bengaluru and Ballygunge, and Kolkata.
The company also plans to introduce its Unbound Collection in India in 2025. The Noor-Us-Sabah palace in Bhopal will undergo extensive refurbishment before the 60-room heritage hotel opens its doors to the public.
Hyatt has witnessed robust growth on the back of experiential packages it offers to guests – from culinary experiences to spas to overnight camping, and action-packed sports events – curated by an eight-member experience team. India is one of the largest footprints for Hyatt globally, after America and China. Hyatt’s loyalty programme, which currently has more than 1.5 million members from India, has seen a strong double-digit growth in new memberships since 2021. (Source: The Business Standard)
