Hyatt to invest Rs 1,000 cr in setting up hotels

Hospitality major Global Hyatt Corporation announce an investment of Rs 1,000 crore in setting up six hotel properties over the next three-four years in joint venture with real estate player Emaar MGF.

Hospitality major Global Hyatt Corporation on Friday announce an investment of Rs 1,000 crore in setting up six hotel properties over the next three-four years in joint venture with real estate player Emaar MGF.

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"Land has already been acquired by Emaar MGF. The development would be completed in next three-four years," Global Hyatt Corporation Head of Real Estate and Development, Steve Haggerty, told reporters in New Delhi.

The hotels, to be launched under the brand 'Hyatt Place', would come up in Mysore, Lucknow, Indore, Mangalore, Hyderabad and Gurgaon.

Apart from these six properties, the company has already signed deals for 14 hotels for a total of 3,600 rooms to be developed in next three-four years.