Hyatt to open 20 hotels in India

New Delhi: The global hospitality major Hyatt is to open 20 new hotels in India over the next four years.

Addressing a press conference to announce the growth plans, the Global Head, Real Estate and Development, Global Hyatt Corporation, Mr Steve Haggerty, said the 20 hotels include six Hyatt Place hotels, which will be launched in a joint venture with Emaar MGF group.

The Hyatt Place hotels, which are being called mid-segment properties, will come up in Hyderabad, Mysore, Mangalore and Gurgaon among other cities.

“The six properties are likely to see an investment of $200 million of which about $100-120 million will be through debt. The remaining equity will be shared between Emaar and us, with Emaar bringing in 75 per cent of the funds. The economic recession does not change our strategy,” Mr Haggerty said.