NEW YORK--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) has been promoting its international expansion, with particular emphasis on growth in India. But a UNITE HERE examination of Hyatt’s development plans in India’s largest city raises questions about the company’s development timelines and process for selecting business partners.
A new report: Indian Express: Is Hyatt’s expansion on track? focuses on these issues.
Among the findings:
- With trees growing in the construction pit, the development of the “iconic” Park Hyatt Mumbai project appears to be stalled.
- One of Hyatt’s key real estate partners, the DB Realty Group is enmeshed in India’s 2G telecom scandal. A principal of DB Realty is reportedly in jail.
- Indian press indicates that Hyatt’s project in Pune is stalled.
As Ratnesh Verma, Hyatt’s Senior VP of real estate and development recently noted: “Projects get delayed in India for various reasons.”
Simon Cooper, president and managing director of the Asia/Pacific region for Marriott International, was even more blunt: “I think this is one of the hardest places to develop hotels.”
As Hyatt continues to hype its South Asian expansion, UNITE HERE will continue to monitor what’s real and what’s a Bollywood fantasy.