Business & Economy

Hyatt, Juniper sign deal for Andaz Delhi hotel and apartments

NetIndian News Network

New Delhi, June 8, 2010

The Chicago-headquartered Hyatt Hotels Corporation has announced that one of its subsidiaries and Juniper Hotels Private Limited have signed management agreements for Andaz Delhi, a 323-rom hotel with an additional 118 Andaz-branded apartments.

The new property is slated to open in 2013 and will be located within the hospitality district near the Indira Gandhi International Airport, a press release from Hyatt said.

The project, which will be the first Andaz property planned in India, comes two months after Hyatt announced plans to expand its prsence in Delhi, Goa, Kolkata and Mumbai as well as expand into 15 new Indian markets over the next five years.

"Personal and uncomplicated, Andaz is a new hotel experience that is a fresh, stylish blend of engaging hospitality delivered in vibrant settings, and created with simplicity and locality in mind," the release said.

Andaz Delhi will join the existing Andaz portfolio which includes Andaz Liverpool Street, London, Andaz West Hollywood, Andaz Wall Street and Andaz San Diego. Andaz 5th Avenue in New York is scheduled to open in summer 2010. Additional Andaz hotels in development include Andaz Austin, Texas; Andaz Amsterdam, Andaz Papagayo, Costa Rica; Andaz Sanya Sunny Bay, China; and Andaz Turks and Caicos, the release said.

The release said the Delhi property was coming up at a time when international business travel into the city had steadily risen in recent years, attracted by such industries as information technology, telecommunications, banking and media as well as tourism.

Andaz Delhi will feature a variety of amenities including a lounge, theme bar, two restaurants, spa and fitness center. Additionally, the property will offer a 7,000-square-foot ballroom and seven meeting rooms, it said.

"We are excited about the opportunity to introduce the Andaz brand to India as part of our plan to grow in one of the world’s leading emerging markets," Mr Ratnesh Verma, senior vice president of real estate and development for Hyatt Hotels & Resorts in South Asia, said.

"Andaz Delhi will appeal to the discerning international leisure and business traveler seeking a new and unique experience. This exciting project is consistent with our development strategy of expanding the presence of our preferred brands in key markets with strong and experienced developers and owners," he said.

"We believe in Hyatt’s strong commitment to the success of the Andaz brand and are delighted to be able to strengthen our relationship with the company to bring Andaz to this key market in India," Mr Arun Saraf, managing director, Juniper Hotels Private Limited, a co-owner of Grand Hyatt Mumbai, which opened in 2004, added.

Hyatt's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place and Hyatt Summerfield Suites brand names. As of March 31, 2010, the company’s worldwide portfolio consisted of 434 properties.

Juniper Hotels Private Limited (JHPL) is a hotel investment company co-owned by Two Seas Holdings Limited, and Saraf Holdings Limited. It owns Grand Hyatt Mumbai and Hyatt Regency Ahmedabad in Western India, scheduled to open in 2013. Saraf Holdings, a developer of Hyatt hotels in India through its affiliates also own hotels under the Hyatt Regency brand in Kolkata, Chennai in Southern India, scheduled to open in 2010, and Kathmandu.