The hotel is being built by Lanco Hills at a cost of Rs 500 crore as part of a 100-acre township being developed by it at Manikonda near here. It will be Hyatt's second hotel in the city, following Park Hyatt Hyderabad, which is scheduled to open in early 2010.
"The opening of Grand Hyatt Hyderabad is part of Global Hyatt's initiative to expand its brand presence in India," Hyatt Hotels and Resorts senior vice president - real estate and development, Ratnesh Verma, stated in a press release.
According to Lanco Hills director and chief executive officer S Pochendar, leading designers including DP Architects and Wilson Associates of Singapore have been selected to complete the hotel project.
"This is a proud moment for us since this is our first venture in the hospitality segment," he said, adding other components of the Lanco Hills project were high-rise residential towers, office towers and service apartments besides a retail and entertainment zone.