IFSC: Aircraft leasing gets a big boost
Around 80 per cent of the total commercial fleet in India is leased against 53 per cent of the same, globally
Hospitality chain Hyatt is on expansion mode in India and is on course to commissioning at least 10 more properties during 2020 while it continues to scout for new locations in Tier II and Tier III cities and some exotic destinations.
Sunjae Sharma, Vice-President, India Operations for Hyatt, said, “These are exciting times for us at Hyatt. The industry is seeing a paradigm shift in the way people are travelling, the cities they are travelling to and the purpose they are travelling for. Our growth in India is in sync with this dynamic shift.”
“We began 2019 with the introduction of the Hyatt Centric brand Candolim Goa. New to the Hyatt portfolio, as part of the Two Roads Hospitality acquisition in November 2018, the Alila brand also added two new properties in Diwa Goa and Fort Bishangarh,” he said.
“Recently, we opened Hyatt Regency Thrissur, which joins 12 other Hyatt Regency properties in the country. We opened Hyatt Regency Dharmashala resort in November 2019, which has been an important step for us as it is our first property in the foothills of the Himalayas,” he added.
The Chicago-headquartered Hyatt has eight premier brands in India offering over 7,000 rooms across 32 hotels in 21 destinations. During 2020, Hyatt expects to add at least 10 more properties which includes Grand Hyatt in Gurugram, a mega 442-room project.
During a recent interaction, Sharma told BusinessLine, “We are looking at expansion in Tier II and III cities and also in some tourist destinations, resorts and remote locations where there is potential.”
“We were among the first international brands to enter India in 1983, more than 36 years ago, and since then have grown steadily with our asset light model. India is a strategic market for Hyatt and is among top three markets after the US and China. We believe in foreseeable future there is huge potential for growth both from domestic travellers and international visitors,” he explained.
“Since 2005, we have grown tremendously and have added over 26 new hotels to our portfolio,” he said.
Riding the wave of urbanisation and getting into emerging business locations, Hyatt is expanding its footprint in leisure and cultural destinations. It also plans to open hotels in Alibaug, Udaipur, Dehradun, Thiruvananthapuram, Vijayawada and Vadodara.
“The year 2020 looks promising for the travel and tourism industry and we expect the hospitality sector to play a critical role in the growth of the economy,” he added.
Please Email the Editor