THE HYATT GROUP OF HOTELS

Hyatt recorded tremendous growth in the third and fourth quarters of 2022 -primarily driven by the leisure segment which has been a significant driver of our optimistic performance in the past year.

We have witnessed a surge in tourism in the country, primarily fuelled by workcations, staycations, and weekend getaways. Recognizing this changing consumer preference, Hyatt anticipates that more Indians will be interested in extending their business travel plans to include bleisure trips. Moreover, our wedding business also witnessed 200% growth in the quarter as compared to Q1 of 2019. Keeping this in mind, we launched nine new properties in India last year, and we plan to continue this growth momentum and aim to launch an additional 10 hotels in 2023. We recently announced the entry of the Hyatt Centric and Hyatt Place brands in Uttarakhand, with Hyatt Centric Rajpur Road Dehradun and Hyatt Place Haridwar. Additionally, Hyatt is set to introduce the JdV by Hyatt' brand in India this year.

This move aligns with our objective of diversifying our portfolio of hotel offerings in both existing and emerging markets. Our goal is to have over 50 Hyatt-branded properties in India by the end of 2023. Hyatt has already experienced impressive growth in revenue per available room (RevPar), surpassing 2019 levels by 125% in the fourth quarter of last year. Moreover, in the first quarter of this year, we witnessed a remarkable growth of nearly 175% in its leisure group business and an same 80% growth in its corporate group business compared to the period in 2019. These positive trends indicate a strong demand trajectory that shows no signs of slowing down.