2011 Opening of Grand Hyatt Hyderabad builds Hyatt's presence in India
HYDERABAD, India--(BUSINESS WIRE)--Affiliates of Global Hyatt Corporation and Lanco Hills Technology Park Private Limited, a part of the Lanco Group, today announced the signing of a definitive management agreement for the 400-room Grand Hyatt Hyderabad, due to open in Hyderabad, India in early 2011. The hotel will be Hyatt's second hotel in Hyderabad, following Park Hyatt Hyderabad, which is scheduled to open in early 2010.
The planned 400-room hotel is part of a 100-acre township development in Manikonda called Lanco Hills, about two miles from Gachibowli and HITEC city. The entire development is approximately 10 miles from the new international airport at Shamshabad and is part of the emerging Central Business District.
Other development components at the Lanco Hills Project include:
"Hyderabad is a modern, cosmopolitan city and exemplifies progressive and committed governance with the state government demonstrating successful public and private partnerships in varied sectors. Hyderabad is now recognized as an important global destination for information technology and life science research," said Ratnesh Verma, senior vice president, real estate and development for Hyatt Hotels & Resorts.
"The opening of Grand Hyatt Hyderabad is part of Global Hyatt's initiative to expand its brand presence in India. We are particularly proud to be associated with this development, with an organization like Lanco Group and we look forward to welcoming our loyal guests to Hyderabad," added Verma.
Leading designers have been selected to complete Grand Hyatt Hyderabad including DP Architects, Singapore and interior designer Wilson Associates, Singapore.
"This is a proud moment for us since this is our first venture in the hospitality segment. The property is located less than one mile from the expressway and situated only minutes from the city's banking and financial district which includes Microsoft, ISB, Infosys and will soon be a landmark in Hyderabad," said S. Pochendar, director and chief executive officer of Lanco Hills Technology Park Pvt. Limited, part of the Lanco Group.
Global Hyatt Corporation, one of the world's premier hotel companies, offers today's travellers more than 730 hotels and resorts (more than 140,000 rooms) in 45 countries. The company's affiliates own, operate, manage and franchise Hyatt-branded hotels and resorts under Park Hyatt™, Grand Hyatt™, Hyatt Regency™, Hyatt Resorts™, Hyatt®, Hyatt Place™ and Hyatt Summerfield Suites™ brands, as well as the company's newest global luxury brand, Andaz™, which recently opened its first property in London. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc., operator of Hyatt Vacation Club and fractional residential properties, and U.S. Franchise Systems, Inc., which franchises Hawthorn Suites and Microtel Inns and Suites. From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234, or logging on to www.hyatt.com.
Lanco Group has an asset base of US$ 800 million, market capitalization of US$ 3 billion and projects under execution amounting to US$ 15 billion. Lanco Group is headquartered in Hyderabad with business interests in Property Development, Power, Infrastructure and Construction with mega projects across India. The operational power projects including under execution projects stand at 13000 MW. Lanco is keenly focused on Infrastructure, which includes opportunities in Roads, Sea Ports, Air Ports and Transmission Lines. The Construction and EPC division of the Company at present has an order book of more than US$ 2 billion.