VISAKHAPATNAM: A new five-star hotel project under the Hyatt brand was formally launched on Saturday with a groundbreaking ceremony near Sagar Nagar-Yendada in Visakhapatnam. The event was attended by State Tourism, Culture and Cinematography Minister Kandula Durgesh and local MLA Ganta Srinivasa Rao.
The hotel is being developed by the PVR Group with an estimated investment of Rs 250 crore. The project will come up on a 3-acre site and is expected to be completed within two years.
Speaking at the event, Minister Kandula Durgesh said that the project reflects the progress of investment agreements made during recent Partnership Summit. He noted that Visakhapatnam is witnessing steady growth as a tourism and business destination, and such projects would support the city’s development.
The proposed hotel will offer accommodation, dining, and conference facilities designed to meet international standards. Plans include conference halls equipped to host corporate meetings, seminars, and other events. The hotel is also expected to cater to both domestic and international visitors.
Officials stated that the project is likely to create employment opportunities for local youth, both directly and indirectly, in hospitality and service sectors.