Hyatt Hotels Corp. plans to add eight new hotels to its portfolio in India and Bangladesh in 2024, bringing its total footprint to “over 55” properties in the region, the company announced.
The additional property comes at a time when hotel supply in India hasn’t kept up with increasing levels of business travel, spurring notable rate increases. BCD Travel in its 2024 travel price forecast, released in November, projected 2024 hotel rates in India would increase an average of 10 percent year over year, among the largest increases in the region. American Express Global Business Travel in its 2024 forecast projected even sharper year-over-year hotel cost increases in individual cities in India, including 15 percent in Mumbai, 14.6 percent in Chennai and 11.1 percent in Bengaluru.
Hyatt said it would open in 2024 Regency properties in the Indian cities of Kasauli and Ghaziabad, Hyatt Place properties in Aurangabad and Haridwar, Hyatt Centric properties in the Ballygunge district of Kolkata and the Hebbal district of Bengaluru. It also has opened the Ronil Goa, part of the JdV by Hyatt brand, in Goa, India, and plans a Hyatt Place in Uttara neighborhood of Dhaka, Bangladesh.
“This growth is timed to coincide with the expected rebound of leisure and business travel in the country and the subcontinent,” Hyatt said in a statement.
