“Hyatt Hotels Targets India’s Growing Luxury Hospitality Market”
Edited by: Team Negohtel
Hyatt Hotels Corp is strategically targeting India’s flourishing hospitality sector, particularly focusing on luxury accommodations, to leverage the current “golden era” for hotel operators in the nation. In an interview with Mint, Mark Hoplamazian, the global president and chief executive, highlighted Hyatt’s approach, stressing the significance of serving its upscale clientele: affluent guests. In line with this approach, Hyatt intends to introduce Miraval Resorts and Spas to India, recognizing the growing demand for luxury brands in the region, he stated. “The brand is an ideal fit for India. We believe that a deeper understanding of local markets is key to establishing stronger customer relationships. This approach differs from aiming for ubiquity and offering hotels across all categories and price points like a supermarket. We believe in the superiority of specialty stores over supermarkets,” Hoplamazian explained. India ranks as the company’s fourth largest revenue-generating market, trailing behind only the US, China, and Japan. Hyatt currently manages 48 properties across India and plans to double this number within the next five years. In India, Hyatt operates several brands, including Hyatt Regency, JdV by Hyatt in Goa, and Hyatt Centric. Furthermore, as part of its “responsive strategy,” the company is adjusting its policy to include smaller-scale hotels for semi-urban markets, where demand for rooms may be lower, indicating a departure from its previous focus solely on large-scale city hotels. At present, leisure hotels contribute 25-30% of the company’s global revenue, with this category now comprising over 55% of its portfolio, compared to 35-40% about six years ago. During this period, the company has doubled its luxury room count, tripled the number of resorts, and witnessed a fivefold increase in lifestyle hotels catering to a younger, more millennial-friendly demographic.
