CHICAGO – (BUSINESS WIRE) – March 31, 2021–
Hyatt Hotels Corporation (NYSE: H) today announced plans to increase its brand presence in India – one of Hyatt's three largest growth markets worldwide – by more than 70% by 2023. With over 20 managed and franchise agreements in place, Hyatt will add more than 3,600 keys to its existing portfolio of 32 Hyatt branded hotels with eight different brands in the country including the Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric and Hyatt Place.
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Representation of the Hyatt Regency Dehradun Lobby Lounge (Photo: Business Wire)
This ambitious growth in India is being driven by the ever-increasing demand from guests, World of Hyatt members, customers and owners for unique and differentiated hotel experiences. This announcement signals significant deliberate growth plans for Hyatt that will increase the number of Hyatt branded hotels in India to over 50 by the end of 2023, resulting in a more diverse portfolio of hotel offerings in new and existing markets.
"Hyatt continues to focus on accelerating its brand growth and momentum by transforming the hotel landscape in India with planned openings in some of the country's most visited and sought-after destinations," said Dhruva Rathore, Hyatt's vice president of Real Estate & Development , India. “The Hyatt pipeline in India reflects a well thought out growth strategy by expanding into new markets and vacation destinations that are relevant to our guests and customers. We look forward to working with a number of new and existing owners to bring these exciting projects to life. We are also focused on expanding our independent collections portfolio by partnering with owners and developers who wish to take advantage of our global distribution network and World of Hyatt loyalty program. "
In 2021, Hyatt plans to expand primarily the Hyatt Regency and Hyatt Place brands. The Hyatt Regency brand, which is driving 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 providing the Indian traveler with a comprehensive portfolio of hotels," said Sunjae Sharma, Hyatt's Vice President and Country Head, India. “Despite the challenges the industry faced over the past year, Hyatt has signed eight new hotels of various brands to meet the needs of both leisure and business travelers. The growth of the Hyatt Place and Hyatt Regency brands remains a major priority for India. Nearly 20 hotels under these brands are expected to open across India by 2023. "
Hyatt's growing brand presence in India offers a balanced portfolio that offers unique and engaging guest experiences coupled with Hyatt's deep understanding of the local and global hospitality standards for which it is known. Managed and franchise agreements concluded for Hyatt-branded hotels in India, expected to open by 2023, include:
Grand Hyatt hotels bring travel dreams to life by celebrating the icon in small details and great moments. With a backdrop of dramatic architecture, imaginative restaurants, luxurious spas and sophisticated meeting rooms, guests can enjoy first-class service. grandhyatt.com
- Grand Hyatt Gurgaon
- Grand Hyatt Jaipur
At Hyatt Regency Hotels, guests can switch from work to play and make their own meaningful connections in modern spaces where they can share, socialize and collaborate. Each accommodation has lively restaurants and bars, lively event venues and the typical atrium lobby. hyattregency.com
- Hyatt Regency Jaipur Mansarovar *
- Hyatt Regency Trivandrum *
- Hyatt Regency Dehradun
- Hyatt Regency Ghaziabad
- Hyatt Regency Udaipur Sisarma
- Hyatt Regency Kochi Malayattoor Resort
- Hyatt Regency Goa Baga
- Hyatt Regency Kasauli
- Hyatt Regency Surat
- Hyatt Regency Jaipur
Hyatt Centric Hotels inspire exploration and discovery for savvy, millennial travelers with a spirit of adventure. Each property offers valuable experiences in and around each property and connects guests to the heart of the action in each travel destination so they don't miss a moment of adventure. hyattcentric.com
- Hyatt Centric Sector 17 Chandigarh
- Hyatt Centric Lonavala
- Hyatt Centric Electronic City Bangalore
The Hyatt Place Hotels offer guests the opportunity to recharge and make the next day more successful than before. Each accommodation is well thought out and intuitively tailored to the needs and wishes of the guests. From the lobby to the rooms to the 24-hour restaurants, Hyatt Place hotels provide a seamless transition from work to relaxation. hyattplace.com
- Hyatt Place Bodh Gaya *
- Hyatt Place Jaipur Malviya Nagar *
- Hyatt Place Vadodara *
- Hyatt Place Bharuch *
- Hyatt Place Vijayawada
- Hyatt Place Dehradun Rajpur Road
- Hyatt Place Kolhapur Shiroli
- Hyatt Place Tirupati
- Hyatt Place Visakhapatnam Madhurawada
Hyatt's multi-faceted Global Care & Cleanliness Commitment, aligned with its purpose of care, further improves its operational guidance and resources with regard to the safety of colleagues and guests, as well as the safety of guests. For more information on Hyatt's commitment, visit: hyatt.com/care-and-cleanliness.
For more information or to book a stay, please visit www.hyatt.com.
For convenience, the term “Hyatt” is used in this version to refer to Hyatt Hotels Corporation and / or one or more of its subsidiaries.
* Hyatt branded hotels are expected to open in 2021.
About the Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hotel company offering 20 leading brands. As of December 31, 2020, the company's portfolio comprised more than 975 hotel, all-inclusive and wellness resort properties in 69 countries on six continents. The company's purpose of taking care of people so they can do their best influences its business decisions and growth strategy, and aims to attract and retain top employees, build relationships with guests, and create value for shareholders. The company's subsidiaries operate, manage, franchise, own, lease, develop, license or provide services to hotels, resorts, branded residences and vacation properties, including Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt ™, Hyatt Regency®, Hyatt®, Hyatt Ziva ™, Hyatt Zilara ™, Thompson Hotels®, Hyatt Centric®, caption by Hyatt, JdV by Hyatt ™, Hyatt House® The brand names Hyatt Place®, tommie ™, UrCove and Hyatt Residence Club® operate the World of Hyatt® loyalty program, which offers its valued members special benefits and exclusive experiences. More information is available at www.hyatt.com.
Forward-looking statements in this press release that 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 could differ materially from those expressed or implied in forward-looking statements. In some instances you can identify forward-looking statements by using the words "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," " Predictions, "potential," "further," "likely", "will", "dignity" and variations of these terms and similar expressions or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based on estimates and assumptions that we and our management believe are reasonable but are inherently uncertain. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, the duration of the COVID-19 pandemic and its short- and long-term effects, including demand for travel, temporary deals and group deals as well the level of consumer confidence and the pace of recovery from the pandemic, an additional resurgence, or COVID-19 variants; the impact of the COVID-19 pandemic, additional resurgence, or variants of COVID-19, and the impact of actions governments, companies and individuals are taking in response, on the global and regional economies, travel restrictions or bans, and economic activity ; including the duration and extent of its impact on the unemployment rate and consumer discretionary spending; the ability of third party owners, franchisees, or hospitality venture partners to successfully manage the effects of the COVID-19 pandemic, additional resurgence, or COVID-19 variants; general economic uncertainty in major global markets and deterioration in global economic conditions or poor economic growth; the pace and pace of economic recovery after economic downturns; Amount of spending in business and leisure segments as well as consumer confidence; Decrease in occupancy and average daily rate; limited visibility in relation to future bookings; Loss of key personnel; national and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; Hostility or fear of hostility, including future terrorist attacks, affecting travel; travel-related accidents; Natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, forest fires, oil spills, nuclear incidents and global outbreaks of pandemics or contagious diseases such as the COVID-19 pandemic or fear of such outbreaks; our ability to successfully generate certain hotel operating profits with performance testing or guarantees in favor of our third party owners; the effects of hotel renovations and refurbishments; Risks related to our capital allocation plans, share buyback program and dividend payments, including a reduction, elimination or suspension of buyback activities or dividend payments; the seasonal and cyclical nature of the real estate and hospitality industry; Changes in the distribution agreements, e.g. B. via Internet travel agents; Changes in the tastes and preferences of our customers; Relations with colleagues and trade unions and changes in labor laws; the financial situation and our relationships with outside property owners, franchisees and hospitality venture partners; the potential inability of third party owners, franchisees or development partners to access capital necessary to finance ongoing business operations or to execute our growth plans; Risks associated with potential acquisitions and disposals and the introduction of new branding concepts; the timing of acquisitions and disposals and our ability to successfully integrate completed acquisitions into existing operations; Failure to perform the proposed transactions (including failure to comply with closing conditions or obtaining required approvals); our ability to successfully implement our strategy to expand our management and franchise business while reducing our real estate base within a certain timeframe and expected values; Depreciation of our real estate assets; unforeseen terminations of our management or franchise agreements; Changes in federal, state, local, or foreign tax law; Increase in interest rates and operating costs; Exchange rate fluctuations or currency restructuring; lack of acceptance of new brands or innovations; general volatility in capital markets and our ability to access such markets; Changes in the competitive landscape in our industry, including as a result of the COVID-19 pandemic, industry consolidation and the markets in which we operate; our ability to successfully grow the World of Hyatt loyalty program; Cyber incidents and information technology failures; Results of judicial or administrative proceedings; Violations of regulations or laws in connection with our franchise business; and other risks discussed in the company's filings with the US Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, which are available from the SEC. These factors are not necessarily all important factors that could cause our actual results, performance or achievements to differ materially from those expressed or implied in our forward-looking statements. We caution you not to place undue reliance on forward-looking statements that may be made only as of the date of this press release. We assume no obligation to publicly update these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors that affect forward-looking statements, unless required by law. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to these or any other forward-looking statements.
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SOURCE: Hyatt Hotels Corporation
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PUB: 03/31/2021 02:30 am / DISC: 03/31/2021 02:30 am