In a bid to expand its presence in the promising Indian market, Chicago, IL-based, leading global hotel chain, Hyatt Hotels Corp. (H - Snapshot Report), recently launched a Hyatt Regency branded property in Gurgaon, Haryana. The new five-star property named Hyatt Regency Gurgaon will mark the debut of the Hyatt Regency brand in the city.
Gurgaon, a part of the National Capital Region (NCR) of New Delhi, is the biggest city of Haryana. The city is a key commercial, IT and real estate center and boasts offices of various renowned professional service providers such as SAP AG (SAP - Analyst Report), Deloitte and PricewaterhouseCoopers.
The economic boom that Gurgaon is witnessing has given the hotel industry in the region a boost. Various other major hoteliers such as Starwood Hotels & Resorts Worldwide Inc. (HOT - Analyst Report) and Marriott International Inc. (MAR - Analyst Report) are also building their presence in the city.
Ideally situated beside the Delhi-Jaipur Highway (NH 8), Hyatt Regency Gurgaon is near to the commercial sector of Gurgaon and is in close proximity to the Indira Gandhi International Airport. The strategic location will enable the hotel to attract business as well as leisure travelers.
The Hyatt Regency aims to attract customers for both business and leisure. The Hyatt Regency branded hotels are mainly developed in the urban, suburban, airport, convention and resort destinations worldwide. Currently, the company owns as many as seven properties under the Hyatt Regency brand in India.
Hyatt is now more inclined toward expanding its business in the faster growing emerging markets especially in the Asia-Pacific region, particularly China, where the demand for hotels is continuously increasing. Apart from the Chinese market, India, the second-most populous country, offers significant growth opportunities. As the demand for hotels considerably outpaces the supply in the Indian market, the company is likely to benefit immensely from this strategic expansion, going forward.