HYATT CONTINUES TO BUILD ON GROWTH IN INDIA WITH PLANS FOR HOTELS IN GURGAON AND LUDHIANA
HYATT CONTINUES TO BUILD ON GROWTH IN INDIA WITH PLANS FOR HOTELS IN GURGAON AND LUDHIANA
CHICAGO (April 25, 2012) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into agreements with Piccadily Hotels Private Limited for two new Hyatt Regency hotels in India. Hyatt Regency Gurgaon and Hyatt Regency Ludhiana will be located in major information technology and manufacturing hubs in northern India. The addition of these two hotel agreements brings the total number of Hyatt-branded hotels under development in India to 55.
“India continues to be a core focus for Hyatt, and we are proud to be working with Piccadily Hotels,” said Ratnesh Verma, senior vice president of real estate and development for Hyatt Hotels & Resorts, Asia Pacific. “The Hyatt Regency brand is a perfect fit for the Gurgaon and Ludhiana markets because they are both emerging destinations for business travelers. The extensive meeting facilities at Hyatt Regency Gurgaon will position the hotel as a preferred meeting, convention and group destination, and Hyatt Regency Ludhiana is second Hyatt-branded full service hotel under development in the state of Punjab, joining Hyatt Regency Chandigarh.”
“We are delighted that Hyatt Regency Gurgaon and Hyatt Regency Ludhiana are expected to open later this year,” said Peter Fulton, managing director for Hyatt International, South West Asia. “Hyatt Regency was the first brand from our portfolio to enter India thirty years ago with the hotel in Delhi. As India continues to grow and develop, we believe there will be significant opportunity in this market to expand representation in urban, suburban, airport, convention, and vacation destinations to meet the needs of the increasing number of business and leisure travelers.”
Slated to open this year, and located near Gurgaon’s Manesar industrial corridor, Hyatt Regency Gurgaon will feature 452 guestrooms. The hotel will also offer more than 42,700 sq ft (3,966 sq m) of meeting space, including a 24,000 sq ft (2,229 sq m) ballroom, which will accommodate the meeting, conference and event needs of nearby international corporations. Additional amenities include a lobby lounge, a three-meal multi-cuisine restaurant and two specialty restaurants, a bar, a gourmet store, a four-treatment room spa, a fitness center, a swimming pool, and the Regency Club lounge. The hotel is situated on the National Highway 8, which links Delhi and Jaipur, and is convenient to Delhi International Airport.
Located in Ludhiana’s commercial corridor, Ferozepur Road, Hyatt Regency Ludhiana will be close to the city’s premier shopping and commercial developments. Expected to open in late 2012, Hyatt Regency Ludhiana will offer 167 guestrooms and suites, ranging in size from 409 sq ft (38 sq m) to 1,022 sq ft (95 sq m). Additional amenities will include a three-meal restaurant, a specialty restaurant and bar, more than 7,500 sq ft (696 sq m) of meeting space, a fitness center, spa, and a swimming pool.
“We are excited to be associated with Hyatt for our upcoming properties in Gurgaon and Ludhiana,” said Kartikeya Sharma, managing director of Piccadily Hotels Private Limited. “Both hotels have been designed to cater to the specific needs of the target market. Gurgaon has become the destination of choice for corporate offices across industries, and Hyatt Regency Gurgaon with its extensive meeting facilities will be a preferred convention destination. Ludhiana is a key commercial hub of North India and introducing the Hyatt Regency brand will establish new standards for hospitality in this market.”
With 55 hotels under development in India, Hyatt plans to offer its full portfolio of brands in the rapidly growing market. There are:
- 5 Park Hyatt hotels under development, in addition to two already open
- 2 Andaz hotels under development
- 4 Grand Hyatt hotels under development, in addition to two already open
- 1 Hyatt hotel under development
- 19 Hyatt Regency hotels under development, in addition to five already open
- 23 Hyatt Place hotels under development
- 1 HYATT house hotel under development
As part of this expansion, Hyatt is seeking to attract and develop high-quality talent in India in order to drive future growth. Currently, more than 3,500 associates are employed at Hyatt hotels in India, and with the development effort, it is expected that more than 7,000 new associates will be welcomed into the Hyatt family. Hyatt is investing in training curriculums and accelerated leadership programs in order to ensure that new associates support the company’s mission to deliver authentic hospitality and to develop new professional opportunities for its associates.
About Piccadily Hotels Private Limited
Piccadily Hotels Private Limited has been a recognized leader in the lodging and hospitality industry for over 30 years. During that time, the company has built a legacy of strength, stability and innovation that has set a new industry standard. Today, the company’s hotels are recognized as some of the preeminent destinations for travelers – providing outstanding service to its guests and promising careers to team members.
About Hyatt Regency
Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties generally range in size to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of December 31, 2011, the Company's worldwide portfolio consisted of 483 properties in 45 countries. For more information, please visit www.hyatt.com.
Statements in this press release, which are not historical facts, are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
# # #