In a freewheeling chat, Gupta who owns JW Marriott New Delhi Aerocity and Hyatt Regency Mumbai speaks to us about being a catalyst in reshaping the hospitality scene of India and his future plans.
Please take us through your professional journey with your brands: Aria Hotels and Asian Hotels West - from inception of the brand to where it stands today.
I started in 1998 to build the Hyatt Regency Mumbai and Hyatt Regency Kolkata. While I was working in Asian Hotels (in our family company), I expanded the brand of Hyatt in Mumbai and Kolkata with Hyatt Regency and it commenced operations in 2002-2003, Hyatt Regency Kolkata commenced operations at the same time. Hyatt Regency is still operating in Mumbai at a good occupancy – high seventies, good ADR in spite of the weakness in economy - it’s about seven and a half thousand depending on the CP, then I was pursuing to buy land in Aerocity Complex which we acquired in 2008, finally commenced construction in 2010 and opened in 2013 with the JW Marriott brand. We wanted to get into the luxury space and with the JW Marriott brand we thought we could make an entry into the city. I think in the last 6 years we’ve done well to position ourselves as a luxury brand and we are ahead of our competitive set; it’s averaging an ADR of a good 9500 to 10,000 with 80% plus occupancy. So it’s become the market leader in the luxury segment. This is a short synopsis, but I’ve run a lot of other companies in the interim as well.
What do you think of Indian hospitality industry, and where does India stand in comparison with the luxury hospitality market of the world?
This story is from the March - April 2020 edition of MillionaireAsia India.
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This story is from the March - April 2020 edition of MillionaireAsia India.
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