Global hospitality major Hyatt has announced plans to set up three new properties, including one in India, under its 'Andaz' brand of hotels as it seeks to expand presence in key markets.
A Hyatt subsidiary and Juniper Hotels Pvt Ltd have signed management agreements to build 'Andaz Delhi', a 323-room hotel with an additional 118 Andaz-branded apartments.
Slated to open in 2013, the project would be the first Andaz property planned in India.
Hyatt has already announced plans to expand into 15 new Indian markets over the next five years, with properties coming up in Goa, Kolkata and Mumbai.
The Andaz brand is being introduced in India as part of Hyatt's plan to grow in one of the world's leading emerging markets, senior vice president of real estate and development for Hyatt Hotels & Resorts in South Asia Ratnesh Verma said in a statement.
Targetted at the international leisure and business traveller, the project "is consistent with our development strategy of expanding the presence of our preferred brands in key markets with strong and experienced developers and owners," he added.
Andaz Delhi, which will feature amenities like lounge, theme bar, restaurants, spa and fitness center, will join the existing Andaz portfolio of properties in London and the US.
"The Andaz brand is quickly taking hold in the lifestyle hospitality category and is a key component of Hyatt's strategy of increasing our presence in key markets around the world where we see growth potential," Global head of real estate and development at US-based Hyatt Hotels, Steve Haggerty said.
The other two properties are a 183-room hotel in Sanya Sunny Bay, China, and 170-room hotel in Providenciales, in Turks and Caicos islands, a British overseas territory.
The Andaz brand debuted three years ago and has 11 properties open or under development in six countries.
Juniper Hotels is a hotel investment company co-owned by Two Seas Holdings Ltd and Saraf Holdings.
JHPL owns Grand Hyatt Mumbai and Hyatt Regency Ahmedabad, scheduled to open in 2013.
Hyatt Hotels' subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place and Hyatt Summerfield Suites brand names.
As of March 2010, the company's worldwide portfolio consisted of 434 properties.