Foundation stone laid for ₹250-crore Hyatt hotel project in Visakhapatnam

Andhra Pradesh State Tourism, Culture, and Cinematography Minister Kandula Durgesh on Saturday laid the foundation stone for a five-star Hyatt hotel project at Sagar Nagar–Yendada, marking a fresh push to position Visakhapatnam as a global tourism hub.

The project, being developed by the PVR Group, involves an investment of about ₹250 crore and will come up on a three-acre site near Sun International School. Officials said the hotel is expected to be completed within two years.

Speaking on the occasion, Mr. Durgesh said the project stems from the Memoranda of Understanding signed during the CII Summit held under the leadership of Chief Minister N. Chandrababu Naidu, and noted that several of those agreements are now moving towards implementation.

He said Visakhapatnam is steadily emerging as a global city and stressed that the upcoming Hyatt property would significantly strengthen tourism infrastructure. The hotel, he added, will feature world-class amenities and modern conference facilities capable of hosting international and national corporate events, seminars, and business gatherings.

Highlighting the steady rise in tourist arrivals, the Minister said the hotel would cater to both domestic and international visitors with a fine dining experience offering a blend of local and global cuisines. He also underlined that the project would create both direct and indirect employment opportunities for local youth.

According to Mr. Durgesh, the entry of more premium hotel brands would enhance the city’s profile and accelerate its overall development.

Visakhapatnam MLA Ganta Srinivasa Rao, District Collector Harindra Prasad, Hyatt Hotel Chairman R.V. Swami, Varun Group Chairman Prabhu Kishore, tourism officials, and representatives of industry bodies attended the event.