Global Hyatt to mange Lanco’s hotel project

Hyderabad: Hyderabad-based Lanco Hills Technology Park Private Limited, part of the Lanco group, has entered into an agreement with Global Hyatt Corporation, one of the world's premier hotel companies, for the management of the 400-room Grand Hyatt Hyderabad, due to open in early 2011.

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 hotel project.

'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 release.

According to Lanco Hills director and CEO S Pochendar, leading designers including DP Architects and Wilson Associates of Singapore have been selected to complete the hotel project.

'This is our first venture in the hospitality segment,' he said, adding other components of Lanco Hills include high-rise residential towers, office towers and service apartments besides a retail and entertainment zone.