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.