Mumbai: Hyatt Regency has added 408 five-star rooms to the already-existing 1,900-odd hotel rooms in the northern suburbs of the city.
Hyatt Regency general manager Roger Wright says though there was stiff competition in the five-star hotel segment around the international airport, the development of quality office space in the area, along with the flow of foreign direct investment and economic growth forecast at above 5 per cent, boded well for business.
He says occupancy at the hotel is likely to be in the range of 180-200 rooms by the next week. This is the third Hyatt Regency property to be set up in India after Delhi and Kolkata. The hotel is owned by Asian Hotels Ltd.
Asian Hotels joint managing director Sushil K Gupta says Hyatt International does not hold equity in the property built at a cost of Rs 340 crore. ''But the Hyatt brand gives the hotel a certain identity which guarantees a high level of service.''