Hyatt to add 50 hotels in next five years

Hyatt India has ambitious plans to expand its hotel portfolio, aiming to add 10 hotels annually for the next five years, according to Sujae Sharma, Managing Director, India & SWA at Hyatt. The hospitality brand currently operates 47 hotels in India, experiencing a remarkable 37 per cent overall growth and a substantial 62 per cent increase in revenues. Sharma anticipates this growth trajectory to persist in the upcoming fiscal years.

“We’ve recently opened two more hotels, bringing our current count to 45 in India. The newly added properties include the Hyatt Place Bodh Gaya Hotel and the Hyatt Place in Goa Candolim. Additionally, we have plans to launch a new brand, JDV, in Goa and open hotels in Haridwar and Calcutta. By the end of 2023, we aim to reach a total of 50 hotels,” Sharma disclosed.

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Growth scenario

Addressing the annual growth scenario, Sharma highlighted a robust 45 per cent growth compared to pre-Covid levels until September 2023, surpassing the 39 per cent growth milestone. In terms of average room rates, the company witnessed a significant 27 per cent growth for the calendar year 2023 compared to pre-Covid levels, with a year-on-year increase of 29 per cent . Since the onset of the pandemic, Hyatt has seen an impressive 47 per cent increase in revenues, reaching a remarkable 62 per cent growth for the calendar year 2023 compared to the same period last year.

Despite being present in India for over 40 years, Hyatt has deliberately maintained a measured pace of expansion with only 45 hotels. Sharma explained the rationale behind this approach, stating, “The expansion or acceleration is relevant to what you’re doing. Our relevance comes from being the most preferred. We are very pleased with the acceleration because of the preference we receive, as demonstrated in our results. While we may not have the highest number of hotels, the performance of our properties is exceptionally healthy and differentiated. We prioritize being preferred over having the maximum number of hotels. Our acceleration is relative to the preference we aim to achieve.”

This strategic approach aligns with Hyatt’s commitment to quality and customer satisfaction over sheer quantity. Sharma emphasized the importance of being the preferred choice in the market, showcasing the brand’s focus on delivering exceptional service and experiences.