Hyatt Hotels Corp. (NYSE:H) and DB Hospitality Pvt. Ltd. announced management agreements under which Hyatt will operate five new hotel properties in India.
DB Hospitality will develop and own the properties. The plans include luxury and upscale guest accommodations, serviced apartments, authentic dining options and banquet/meeting facilities.
Hyatt senior vice president of real estate and development Ratnesh Verma said, "The introduction of five new Hyatt properties in India, one of the world's most vibrant emerging markets, illustrates our commitment to expanding our global footprint. We are excited to provide our guests with access to our world-class, preferred brands in these increasingly popular markets in India."