Hyatt Hotels Corporation [NYSE: H] disclosed that it has decided to expand its business and reinforce its position by establishing its footprint in India. Hyatt is anticipating boosting its Indian brand range by more than 70% through 2023. It has also disclosed that six new hotels set to open in 2021 across the Hyatt Place brands & Hyatt Regency.
Hyatt will increase more than 3,600 keys to its current range of 32 Hyatt-branded hotels across eight different brands in the country as per the 20 succeeded and franchised pacts. The firm has taken the decision after experiencing the request from guests, World of Hyatt members, clients, and owners to deliver inimitable and distinguished hotel experiences.
Furthermore, the expansion decision also signals towards the intended growth plans for Hyatt. The firm is intending to bring the number of Hyatt-branded hotels in India to more than 50 by the end of 2023. Shares of Hyatt Hotels Corporation surged 2.27% during the trading session of Tuesday. The firm has a total market capitalization of $8.38 billion at the time of writing.
The increasing brand footmark of Hyatt in India will provide a well-adjusted portfolio intended to offer inimitable and attractive guest experiences, joined with the deep knowledge of Hyatt of the local and international friendliness values for which it is known.