UNITE HERE asks: Is Hyatt Hotel’s development in India on track?

  UNITE HERE asks: Is Hyatt Hotel’s development in India on track?

Business Wire

NEW YORK -- February 7, 2013

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.

Contact:

UNITE HERE
Jeff Nelson, 617-480-2585