Hyatt Hotels Corporation plans to open over eight to10 properties under the Hyatt Place brand across India by 2020. It has opened its third property at Hinjewadi, Pune followed by Humpi and Gurgaon. Hyatt is now eying cities like Bangalore, Hyderabad, Mumbai and Goa for Hyatt Place.
After the launch of the first Hyatt Place property in Hampi, Karnataka in 2012, the company opened the second Hyatt Place in Gurgaon/ Udyog Vihar in early November last year, the first in Delhi & NCR. Typically, Hyatt invests around Rs 80 to 100 crore depending upon the locations and number of rooms for brand like Place. Hyatt Place in Pune has 117 keys.
Hyatt has four categories under the brand name: Hyatt, Grand Hyatt, Hyatt Regency, and Hyatt Place.
“Hyatt Place is a more value for money brand in comparison to Grand Hyatt and Hyatt Regency, a difference that the Indian clientele is beginning to understand. Hyatt Place provides simplicity and availability across all its properties, categorically built to give a lively, young and energetic ambiance. The brand brings to the upscale service hotel category and as Hinjewadi, Pune continues to grow and thrive economically, we are ready to add momentum in the area,” said Swarendra Sahay, general manager, Hyatt Place, Pune.
He added that several of its projects are at a nascent stage, but we will have 10 to 12 properties operational within the next five years. Hyatt Place in Pune will be coming up in the first quarter of 2015, apart from Goa, Hyderabad and Bengaluru which will be operational soon.
According to recent research by HVS India, of the 93,000 hotel rooms being added to the existing 114,000 hotels by March 2017 across major Indian cities, almost 50 per cent will be in the mid-market and budget range as demand for mid-market hotels is increasing. Furthermore, the market is experiencing a shortfall of around 150,000 rooms.
These players see huge potential for the mid-market segment in India. In Pune, international hotel brands like Hyatt, Marriott, Novotel and Sherwood already have their presence in mid size segment. French international hotel chain operator Accor launched its economy brand Novotel in Pune in 2013. Marriott has three Courtyard properties in Pune.
