Hyatt Hotels & Resorts and SAMHI hotels have launched the Hyatt Place Gurgaon/Udyog Vihar. This is the second Hyatt Place hotel in India and has 176 rooms with an approximate investment of Rs 172 crore.
Over the next five years, Hyatt Hotels Corporation will increase the number of hotels it operates in India manifold to 70. The US hospitality major, which signed up just ten hotels in its 30 years of existence in India, will increase focus on mid-scale properties as it speeds up its expansion in the country, Ratnesh Verma, senior vice-president, real estate and development for Hyatt International Asia Pacific, said.
Indian hospitality sector, after battling low occupancies and poor room rates in the recent years, seems set for rejuvenation with high hopes from the new government. SHRIYAL SETHUMADHAVAN explores solutions for the industry and suggestions for the policy makers.
Shrikant Bhasi, Chairman, Carnival Group, is all set to reach the skies. The Bhasi promoted Carnival Group recently completed the acquisition of the commercial real estate project, which includes Elante Mall, Hyatt luxury hotel and the office premises with central courtyard in Chandigarh from L&T Group at a deal value of Rs 1,785 crore; the deal is said to be the largest in the real estate sector in recent times.