Hyatt Hotels Corporation has announced a major plan to grow its presence in India and Southwest Asia. The company will open eight new hotels in various cities and leisure destinations in 2024. This move aims to take advantage of the expected increase in travel for both fun and work in these areas.
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Hyatt Plans Big Expansion in India and Southwest Asia in 2024
Hyatt is known for offering guests unique and enjoyable stays, and this expansion includes the introduction of the JdV by Hyatt brand in India with the opening of Ronil Goa. This marks a significant step in Hyatt's efforts to offer more luxury and lifestyle options in the country.
According to Breaking Travel News, the expansion includes new destinations for the Hyatt Regency, Hyatt Place, and Hyatt Centric brands, showing Hyatt's commitment to growth in India and Southwest Asia.
The Hyatt Regency brand will grow with new hotels in Kasauli and Ghaziabad, bringing the brand's well-known hospitality to more guests. Hyatt Place will reach new cities such as Aurangabad and Haridwar, and make its debut in Bangladesh with a hotel in Dhaka. Meanwhile, the Hyatt Centric brand will open new locations in Bengaluru and Kolkata, offering travelers modern and adventurous lodging options.
This expansion is part of Hyatt's larger goal to meet the growing demand for high-quality accommodations in India and Southwest Asia. The new hotels will join Hyatt's diverse portfolio in the region, which aims to provide guests with memorable experiences and the excellent service Hyatt is known for.
With this growth, Hyatt continues to show its strong interest and confidence in the region's potential for travel and hospitality.
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Hyatt Expands in China Despite Market Challenges
Hyatt is making a bold move by expanding its hotel business in China, even as the country faces tough times in its commercial real estate market. The company is optimistic about its growth in China, where it plans to open more hotels.
Hyatt's Chief Financial Officer, Joan Bottarini, shared that the Chinese government is offering support to property developers, which helps in building and financing new hotels.
As shared by Yahoo! News, China holds a big part of Hyatt's future plans, with 40% of its worldwide goal of 127,000 rooms to be located there. However, the real estate market in China is currently struggling, with sales of properties falling sharply. Hyatt remains hopeful, noting that many of its hotels in China are supported by the state, and others are getting help too. This support is expected to speed up new hotel openings.
Hyatt is also changing its approach in China, focusing more on economy and midscale hotels rather than the luxury and upscale markets it's known for in the U.S. and Europe. Over 90% of Hyatt's properties in China fall into these more affordable categories.
In addition to that, Hyatt is seeking local partnerships to grow its presence, especially in smaller cities. One such partnership is with BTG Homeinns Hotels Group, creating the UrCove by Hyatt brand for business travelers. Hyatt is also partnering with local developers to add more hotels, including a new Hyatt Place hotel in Hangzhou.
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