financetom
Business
financetom
/
Business
/
Hotel chain Hyatt bets on India's population boom to fuel growth
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hotel chain Hyatt bets on India's population boom to fuel growth
Apr 10, 2025 5:57 PM

April 11 (Reuters) - Hyatt Hotels ( H ) is betting on

India's rising population and consumer spending power to help

the U.S. hotel chain keep up revenue growth in the double-digit

percentage range in the Asian country this financial year, an

executive said.

Global hotel operators have been building diverse property

portfolios in the world's most populous country, targeting its

more affluent consumers, whose appetite for domestic travel has

been strong since the relaxation of COVID curbs.

Hyatt, which has roughly 325 of its more than 1,400 hotels

in Asia Pacific, is looking to expand in the region, and "India

is a big part of that," Carina Chorengel, a senior executive,

told Reuters on Wednesday.

Hyatt said it plans to open six hotels in India, home to

roughly 1.4 billion people, this year including in smaller

cities from northern Ghaziabad to southern Kochi.

Within five years, it is planning to double its hotel count

in India to 100, Hyatt said.

Many global brands, from fast-food restaurant operators to

apparel sellers, have been downplaying the recent slowdown in

Indian consumer spending to double down on the country to tap

its growing middle class in the longer term.

India's growing population, rapid urbanization with more

people moving to its cities and their desire to travel more are

the key reasons Hyatt is focusing more on India, Chorengel said.

The hotel chain would also post revenue growth in the

double-digit percentage range in India in fiscal 2026, after

recording similar growth in previous years, said Sunjae Sharma,

managing director of India and Southwest Asia at Hyatt.

Late last year, rival Hilton Worldwide ( HLT ) said it plans

to quadruple the number of hotel rooms in its India pipeline in

five years.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Kinder Morgan Acquires Texas Oilfield for $100 Million
Market Chatter: Kinder Morgan Acquires Texas Oilfield for $100 Million
May 22, 2024
01:45 PM EDT, 05/22/2024 (MT Newswires) -- Kinder Morgan ( KMI ) has acquired oil and gas producing assets in West Texas from Avad Energy Partners for $100 million, Reuters reported Wednesday, citing people familiar with the matter. The transaction includes some 265 wells, according to Avad marketing documents people close to the matter, as well as some 11,600 acres...
Exxon case against activist shareholder can proceed, US judge rules
Exxon case against activist shareholder can proceed, US judge rules
May 22, 2024
May 22 (Reuters) - A U.S. judge on Wednesday allowed a lawsuit filed by Exxon Mobil ( XOM ) against two activist groups seeking to bar their climate resolution to go ahead against one of the two groups. The oil company's lawsuit raised alarm among activists and proxy advisers who argued it would muzzle debate among shareholders and public companies....
Amazon investors reject all 14 outside proposals
Amazon investors reject all 14 outside proposals
May 22, 2024
May 22 (Reuters) - Amazon.com ( AMZN ) investors voted against all 14 resolutions that would have requested the retailer disclose more about its carbon emissions, its directors' donations and form a committee to oversee artificial intelligence development, among other issues. Amazon ( AMZN ) announced the preliminary vote at its annual shareholder meeting on Wednesday, where all 12 directors...
US FCC chair backs requiring AI disclosure in campaign TV, radio ads
US FCC chair backs requiring AI disclosure in campaign TV, radio ads
May 22, 2024
WASHINGTON (Reuters) - U.S. Federal Communications Commission Chairwoman Jessica Rosenworcel on Wednesday proposed requiring disclosure of content generated by artificial intelligence (AI) in political ads on radio and TV. Rosenworcel is asking her colleagues to vote to advance a proposed rule that would require disclosure of AI content in both candidate and issue advertisements, but does not propose to prohibit...
Copyright 2023-2026 - www.financetom.com All Rights Reserved