Hospitality Experience
Grand Hyatt – Feasibility Study
Grand Hyatt Mumbai was the first large scale hospitality project in India comprising over 650 guest rooms including serviced apartments, when it was being planned and developed. Horwath HTL was commissioned by the owners (Saraf Group) to conduct the Feasibility study for this landmark project.
Project Scope
The Grand Hyatt Mumbai was India’s first large-scale hospitality project, featuring over 650 guest rooms, including serviced apartments. Commissioned by the Saraf Group, Horwath HTL conducted a comprehensive feasibility study to ensure the project’s success and alignment with market dynamics. This study involved a detailed market analysis, examining Mumbai’s hospitality sector, demand drivers, competitive landscape, and target customer segments. This analysis identified an opportunity for a mixed-use development combining luxury hotel rooms with long-stay serviced apartments, a novel concept in India at the time.
Demand forecasting formed a key part of the study, projecting occupancy levels, Average Daily Rate (ADR), and Revenue Per Available Room (RevPAR) across varying time horizons. These projections were rooted in economic conditions, business and leisure travel patterns, and the anticipated growth of Mumbai as a financial and cultural hub. Financial viability was another critical component, with a detailed financial model evaluating capital expenditure, operating costs, and projected revenues. Sensitivity analyses ensured that potential market fluctuations were accounted for, supporting sustainable investment returns.
The feasibility study also included facility programming, offering recommendations on the optimal mix of room configurations, dining options, wellness facilities, and event spaces to meet market needs while maximising revenue potential. Strategic positioning was evaluated to determine how the property could stand out in a competitive market, with an emphasis on its scale, luxury offerings, and the unique integration of short-stay and extended-stay accommodations.
Horwath HTL’s meticulous assessment provided the Saraf Group with a robust foundation for decision-making, enabling them to refine the project’s scope and operational strategy. The Grand Hyatt Mumbai has since become a flagship property, setting a benchmark for large-scale hospitality developments in India, its success deeply rooted in the thoroughness of the feasibility study.
