Hyatt targets five-fold India expansion in five years, CEO says

By Praveen Paramasivam and ‌Nathan Gomes

PANAJI, ​Goa, ​Feb 27 (Reuters) - Hyatt Hotels expects to quintuple its India footprint over the next five years, its chief ‌executive said on Friday, as the U.S. hotel operator ⁠bets on a surge in domestic travel and rising consumer spending in ‌the world's most populous nation.

Global ‌hotel chains are racing to expand in India, riding a post-pandemic rebound in leisure travel among wealthier consumers.

"Given the growth ​of the industry, I would say that in five years' time, we should have five times the number of ⁠hotels that we have today, because that's what the market would warrant," Hyatt Hotels ​President and CEO Mark S. Hoplamazian said at the HOPE conference in Goa.

Hyatt, which operates 55 ​hotels in India across cities including ‌New Delhi, Mumbai and Bengaluru, had earlier set a target of expanding its network to 100 ⁠properties by 2030. Globally, Hyatt has more than 1,400 hotels.

India's population growth, rapid urbanisation and rising travel aspirations are driving an industry expected ⁠to nearly double to $55.7 billion by 2031 from $23.5 billion in 2025, according ​to consultancy Mordor Intelligence.

Rivals are also expanding. Hilton Worldwide last year said it plans to quadruple its India pipeline of hotel rooms over five ‌years, while Leela Hotels on Friday said its fiscal 2027 outlook depends on affluent demand and ‌a shortage of luxury rooms in the country.

"India is a ⁠place to invest, it's a ‌long-term bet," Hoplamazian said.

(Reporting ​by Praveen Paramasivam and Nathan Gomes in Panaji; Writing by Kashish Tandon; Editing by Sonia Cheema, Dhanya ‌Skariachan)

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