Arrival from the approach road
India's first purpose-built MICEMICE means Meetings, Incentives, Conferences & Exhibitions — the corporate and celebration events that fill ballrooms, not just rooms. Hotels built around MICE earn a far larger share from dining and events (here, ~42% of revenue), which is more resilient than room-only economics and is why this project was designed banquet-first at the airport. luxury hotel at Hyderabad airport — 299 keys, the city's largest ballroom, Hyatt-operated for thirty years. Doors open 2028.
Most hotels add a ballroom. This one was designed around it — a conference and celebration engine with 299 luxury keys attached, at the one location every delegate, every baraat and every board already passes through. Hyderabad's existing luxury hotels are beautiful, small and forty minutes away. The airport has one upscale hotel, running full.
29.2 million passengers in FY25 — India's fourth-busiest gateway, expanding toward 80 million.
A single Novotel at 69–73% occupancy. Zero luxury keys at the airport. HVS sees room for 5,300 more citywide.
GMR's offices, SEZ, retail and campuses — Amazon, Safran, Schneider, Decathlon — seven minutes away.
No luxury hotel in Hyderabad can seat even eight hundred guests under one ceiling — so the city's grandest weddings and largest conferences leave for tents and convention halls. This ballroom is 1,317 square metres. It is why HVS models 42% of revenue from dining and events — the signature economics of India's best large-format hotels, and the reason this project was designed banquet-first.
Competitor data: HVS ANAROCK survey. In support of the grand ballroom: a 740 m² secondary ballroom, an 859 m² meeting suite, pre-function galleries and outdoor lawns.
The ₹550 crore ($57M) project is capitalised half by a ₹275 crore term facility and half by ₹275 crore of equity — of which the promoter group has committed substantially all from its own balance sheets. Two million dollars of founding equity is being opened to invited investors, at the same construction basis as the promoters, before the first guest arrives.
Every founding investor buys the same shares at the same construction basis and participates identically at exit. The only decision is the rhythm of your cash along the way.
| Class AThe Patron · Assured Income | Class BThe Founder · Growth | |
|---|---|---|
| In one line | A fixed 9% cheque, paid first — certainty, whatever the ramp does | The hotel's cash engine, uncapped — smaller at first, compounding every year |
| Annual cash | Fixed 9% preferred coupon, quarterly from opening day; first year funded from a closing reserve | Pro-rata free cash flow after debt service, annually from the opening year |
| Trajectory | Flat by design — the same cheque in a slow year and a great one | Rises as the term debt amortises and more of every night reaches shareholders |
| Currency | Coupon fixed in rupee terms — its dollar value moves with the exchange rate | Rupee-linked cash flow and exit — the asset's currency and its upside, directly |
| Priority | Senior — paid first, bought back first | After Class A |
| Exit participation | Identical — full pro-rata share of the sale | Identical — full pro-rata share of the sale |
| Ten nights + dining, yearly | Yes | Yes |
| Made for | Those who plan around income | Those who let ownership compound |
Every founding investor holds ten nights a year at the hotel, with a dining credit across its six restaurants and bars — for the life of the holding. Land in Hyderabad, and the doorman knows you are not a guest. You are an owner.
This is not a project looking for its pieces. The operator is signed for three decades, the design is in development with Hyatt's own technical team, the underwriting is independent, and the bankers, lawyers and sixteen Tier-1 contractors are engaged.
Fully managed and operated by Hyatt under a definitive 30-year agreement — the project is published on Hyatt's own development pipeline.
hyatt.com/development ↗The hotel industry's reference valuer — the February 2026 feasibility study behind every figure on this page.
hvsanarock.com ↗Singapore-drawn concept — a sandstone-latticed tower over grand public rooms, oriented to the runway.
mq-studio.com ↗One of India's largest architecture practices, delivering design development and execution drawings.
edifice.co.in ↗The Hyderabad hotel developer behind the project — land freehold, excavation complete, four active hotel entities.
Capital arrangement and, at maturity, exit facilitation for founding investors.
goldwater.global ↗Transaction structuring, FDI and offering documentation.
khaitanco.com ↗Contractors and specialist consultants across structure, MEP, facade, kitchens, AV and landscape — schedule in the memorandum.
Request the memorandum, the full HVS ANAROCK study, the working model, and a call with the promoters. Allocations are confirmed in subscription order.
Request the MemorandumThree questions decide a hotel investment: is demand arriving, is supply constrained, and will guests pay? Here is the record on all three — from the independent HVS ANAROCK study and public airport data.
Passenger traffic has more than tripled since FY21 and the airport is being expanded to nearly three times today's capacity.
| Rajiv Gandhi International | FY21 | FY22 | FY23 | FY24 | FY25 | Ultimate |
|---|---|---|---|---|---|---|
| Passengers (millions) | 8.0 | 12.4 | 21.0 | 25.1 | 29.2 | 80.0 |
| Growth | — | +55% | +69% | +19% | +16% | Master plan |
India's fourth-busiest airport. A dedicated metro corridor and the Regional Ring Road are both in development, shortening the city's distance to Shamshabad every year.
The airport corridor has a single branded hotel. The two luxury projects announced for the wider city are resort-style and thirty kilometres north.
| Hotel | Keys | Tier | Opens |
|---|---|---|---|
| Novotel Hyderabad Airport | 290 | Upscale | Operating |
| Grand Hyatt — this project | 299 | Luxury · MICE | 2028 |
| Vivanta | 170 | Upper upscale | 2028 |
| JW Marriott · resort, 30+ km | 280 | Luxury | 2029 |
| St. Regis · resort, 30+ km | 250 | Luxury | 2030 |
| Oakwood Kapil | 175 | Upscale | 2032 |
| Year | Supply | Demand potential | Keys short |
|---|---|---|---|
| 2026 | 8,704 | 6,270 | 655 |
| 2028 | 9,341 | 7,246 | 1,315 |
| 2030 | 11,466 | 8,727 | 1,001 |
| Absorbable beyond the entire pipeline | ≈ 5,318 keys | ||
HVS's conclusion: the imbalance should support rate growth for the next five to six years.
Our stabilised rate assumption of ₹19,211 sits below what the city's rate leader charges today — and Delhi's airport city, a decade ahead on the same curve, shows where this corridor is heading.
| Hotel | Keys | Positioning | Stabilised ARR (₹) | Occupancy |
|---|---|---|---|---|
| ITC Kohenur · the city's rate leader | 274 | Luxury | 19,800 – 22,800 | 80 – 85% |
| JW Marriott New Delhi Aerocity · the template | 511 | Luxury · airport city | 13,500 – 16,500 | 78 – 82% |
| Park Hyatt Hyderabad | 209 | Luxury | 12,000 – 14,000 | 68 – 72% |
| ITC Kakatiya | 188 | Luxury | 11,200 – 14,800 | 72 – 76% |
| Taj Krishna | 261 | Luxury | 10,000 – 12,000 | 79 – 81% |
| Novotel Hyderabad Airport | 290 | Upscale · airport | 10,000 – 10,400 | 69 – 73% |
Citywide ARR grew 18.5% in 2025 alone, crossing its previous peak. A rate-led market with no direct luxury competitor at the airport is the best possible setting for a new entrant.
Amazon, Safran, Cyient, Schneider and dozens more across TSIIC Park, the aerospace SEZ and GMR's business parks. Weekday demand at contracted rates.
The ballroom monopoly, in the wedding capital of the south — with the promoters' own convening networks as the first bookings.
Airline crew contracts underwrite base occupancy — the Novotel runs ~20% crew and turns business away. The Aerocity health port adds medical travel.
MQ Studio's concept — "the diamond within" — stacks 299 keys over a podium built around the largest ballroom in the market, wrapped in a sandstone lattice that turns the tower into the corridor's landmark.
| The events programme | Area | In feet |
|---|---|---|
| Grand ballroom — the city's largest single room | 1,317 m² | 14,173 sf |
| Secondary ballroom | 740 m² | 7,967 sf |
| Dedicated meeting suite | 859 m² | 9,240 sf |
| Pre-function galleries, boardrooms & lawns | Additional | |
HVS independently benchmarked a hotel of this class at ₹642 crore on a four-year build. The contracted budget is ₹550 crore ($57M) — the difference is specific, not hopeful.
| Component | ₹ Cr | % |
|---|---|---|
| Furniture, fixtures & equipment | 269.1 | 42 |
| Construction / civil | 86.7 | 13 |
| Mechanical, electrical & plumbing | 86.7 | 13 |
| Interest during construction | 49.2 | 8 |
| Outdoor development | 48.7 | 8 |
| Professional fees · contingency · pre-opening | 102.0 | 16 |
| HVS benchmark | 642.4 | 100 |
| Item | ₹ Cr |
|---|---|
| HVS benchmark | 642.4 |
| Construction interest — 24-month build vs 4-year draw | −24.9 |
| FF&E — direct procurement at Hyatt programme rates | −45.0 |
| Contingency release — design frozen, fixed-price contracts | −22.5 |
| Contracted budget · ₹1.84 Cr per key | 550.0 |
| Equity — promoter-committed + this offering | 275.0 |
| Term facility — under arrangement, 50% of cost | 275.0 |
Land is freehold and excavation complete — which is also what puts opening in 2028. Contractor schedule and QS certification accompany the memorandum.
The ₹275 crore facility is in arrangement with lenders at indicative terms of 10%, a one-year principal moratorium after opening, and ten-year amortisation. On the HVS forecast the hotel covers this service 1.5× in its first year and 2.4× by 2033.
| Year | Opening ₹ Cr | Interest | Principal | Service | Closing ₹ Cr | EBITDA cover |
|---|---|---|---|---|---|---|
| 2028 · moratorium | 275.0 | 27.5 | — | 27.5 | 275.0 | 1.53× |
| 2029 | 275.0 | 27.5 | 17.3 | 44.8 | 257.8 | 1.65× |
| 2030 | 257.8 | 25.8 | 19.0 | 44.8 | 238.8 | 2.12× |
| 2031 | 238.8 | 23.9 | 20.9 | 44.8 | 217.9 | 2.22× |
| 2032 | 217.9 | 21.8 | 23.0 | 44.8 | 194.9 | 2.32× |
| 2033 | 194.9 | 19.5 | 25.3 | 44.8 | 169.7 | 2.42× |
Indicative amortisation for modelling; final terms per the executed sanction, disclosed in the memorandum.
The operating forecast is HVS ANAROCK's ten-year model from the February 2026 feasibility study, applied to the project's actual construction schedule with doors opening in 2028. Every occupancy, rate and margin below is theirs; toggle cost-seg depreciation to see the early-year tax shelter typical of luxury hotels, or open the simulator for a full investor-level run.
| Trading year | 2028 · Y1 | 2029 · Y2 | 2030 · Stabilised | 2031 | 2032 | 2033 |
|---|---|---|---|---|---|---|
| Occupancy | 53% | 65% | 71% | 71% | 71% | 71% |
| Average room rate · ₹ / $ | 15,247 / 158 | 17,158 / 178 | 19,211 / 199 | 20,076 / 208 | 20,979 / 218 | 21,923 / 227 |
| Total revenue · ₹ Cr / $M | 176 / 18.3 | 228 / 23.6 | 267 / 27.7 | 279 / 28.9 | 291 / 30.2 | 304 / 31.6 |
| Rooms : F&B revenue mix | 50 : 47 | 54 : 44 | 56 : 42 | 56 : 42 | 56 : 42 | 56 : 42 |
| Gross operating profit · ₹ Cr / margin | 54.2 · 31% | 92.9 · 41% | 121.9 · 46% | 127.3 · 46% | 133.1 · 46% | 139.1 · 46% |
| EBITDA after FF&E reserve · ₹ Cr | 42.2 | 73.7 | 95.0 | 99.3 | 103.8 | 108.4 |
| Debt service · ₹ Cr | 27.5 | 44.8 | 44.8 | 44.8 | 44.8 | 44.8 |
| Free cash to equity · ₹ Cr / $M | 14.7 / 1.5 | 28.9 / 3.0 | 50.3 / 5.2 | 54.6 / 5.7 | 59.0 / 6.1 | 63.7 / 6.6 |
| Cost-seg depreciation · ₹ Cr | — | — | — | — | — | — |
| Illustrative tax shelter @ 37% · ₹ Cr / $M | — | — | — | — | — | — |
Luxury hotels front-load FF&E and short-life components via cost segregation — higher paper losses in the early years that can shelter other K-1 income. Toggle on to append the schedule below the HVS cash table; the same setting drives the Scenario Simulator.
Depreciation is off — table shows pre-tax HVS cash only. Not tax advice; illustrative at a 37% ordinary rate on ~85% of the ₹275 Cr equity basis (land excluded).
A 35.6% stabilised EBITDA margin with a 42% F&B share matches HVS's benchmark for India's large-banquet luxury hotels. Stabilised occupancy of 71% sits against a market HVS forecasts at 70%. Underwriting and design both carry the full 299-key programme, with statutory approvals in place for 300 keys.
| Opening | Q1 2028 · per the construction schedule |
| Rate path | HVS forecast — stabilised ₹19,211, below the city's rate leader today |
| Exchange rate | ₹96.4/$ held flat in the base case; rupee-decline cases in the simulator |
| Exit valuation | 10% capitalisation rate — HVS's terminal assumption — less 1.5% costs |
| Inflation | 4.5% throughout, per HVS |
| Depreciation | Toggle above — cost-seg front-load typical of luxury hotels (higher early years); synced with the simulator |
| Slow ramp kept | 53% → 71% over three years, though the Novotel next door already runs 69–73% |
| No ballroom premium | HVS rates taken as published, despite the banqueting monopoly they flag as upside |
| Conservative case | A price-level haircut of two years' inflation is one click away in the simulator |
| Delay case | A one-year slip in opening is modelled, not assumed away |
| Contracted base | Airline crew and corporate contracts underpin the opening year |
This is the model the sponsor runs, exposed — fees included. Choose the class, the size, the exit year, the trading scenario, the currency assumption and whether to include early-year depreciation shelter, and watch the cash flows rebuild. Nothing here is a forecast of what you will earn; it is arithmetic applied to assumptions you control.
Every operating figure cut by two years of inflation — roughly 8% below the HVS path — for those who want a harder look at early-year pricing.
The published HVS operating forecast on the 2028 calendar: 71% stabilised occupancy, ₹19,211 ARR, ₹95 crore EBITDA.
Rates about 10% above the HVS path — the ballroom monopoly pricing as HVS suggests it could, still below ITC Kohenur today.
Luxury hotels concentrate a large share of cost in FF&E, soft costs and short-life components. Cost segregation front-loads depreciation into the early years — creating K-1 tax losses that can shelter other income. Toggle it on to see an illustrative after-tax boost at a 37% ordinary rate on ~85% of your equity basis (land excluded). Off keeps the model pre-tax, matching the HVS cash tables.
The simulator applies the ₹275 crore facility at indicative terms, HVS's 10% terminal capitalisation rate, 1.5% exit costs, the 5% one-time setup fee, and carried interest per the fee schedule (7.5% below $75,000; waived at $75,000 and above). Depreciation is an optional illustrative tax shelter only — not tax advice. It does not model full Indian or US tax returns; the SPV issues K-1s and applies treaty foreign-tax credits so income is not taxed twice; details in the memorandum. Class A's 9% coupon is fixed in rupee terms. Figures are illustrative model output, not a projection or guarantee of returns.
Founding investors subscribe to one US vehicle. The vehicle buys equity directly in the holding company that owns the hotel — a single line on the cap table, beside the promoters, with nothing in between. You receive a K-1 each year; India–US treaty credits are applied so income and gains are never taxed twice.
Carry applies only to profits actually returned to you — never to your capital. Waived entirely from $75,000.
Commit $75,000 or more and the carry is waived entirely — every rupee of profit is yours.
| The asset | 299-key Grand Hyatt, Shamshabad, Hyderabad — fully managed and operated by Hyatt under a definitive 30-year agreement |
| This offering | $2M of founding equity at construction basis, alongside the promoter group's committed capital |
| Minimum | $50,000 (₹48.2 lakh) · 40 allocations at the minimum, confirmed in subscription order |
| Eligibility | US accredited investors (verified) under Regulation D 506(c); non-US investors via Regulation S |
| Class A · Patron | Fixed 9% (₹) preferred coupon from opening, quarterly, senior; reserve-funded first year |
| Class B · Founder | Pro-rata free cash flow after debt service, distributed annually from opening |
| Both classes | Ten hotel nights + dining credit yearly; identical shares and identical exit participation |
| Fees | 5% one-time setup · 0% annual · carry 7.5% below $75,000, waived at $75,000 and above — on distributed profits only |
| Tax handling | Annual K-1s; India–US treaty foreign-tax credits applied so income and gains are not double-taxed |
| Liquidity | Buyback windows at appraised value from 2031, Class A first; partial transfers facilitated with sponsor consent; at full operation, promoters and Goldwater Capital assist exits |
| Reporting | Quarterly operating KPIs and NAV; annual audit |
| Timeline | Founding close 2026 · capital deployed under automatic-route FDI · doors open Q1 2028 |
A founding circle across hospitality, education and medicine — with substantially all of the project's equity committed from their own balance sheets before this offering opened.
Founder & CEO, Deltin Grand Hospitality & Realty. A decade building and operating hotels across India — he leads land, build and brand, from site assembly through operator handover.
Premier educationist — founder and director of Birla Open Minds International School, Rajahmundry, and the Little Paradise group of schools.
Senior orthopaedic surgeon at Yashoda Hospitals and a pioneer of robotic joint replacement in India.
New York–based physician — bridging US investor networks with Hyderabad's medical and convening community behind the hotel.
Physician and hospital promoter — owns and operates multiple hospitals in Warangal, anchoring the project's regional healthcare network.
Sectors: hospitality · education · medicine. The wider founding circle of Hyderabad physicians, hospital promoters and educationists — the city's convening class, whose conferences and celebrations the ballroom was drawn for — is profiled in the memorandum.
This page is a confidential preliminary summary prepared for discussion with invited prospective investors. It is not an offer to sell or a solicitation of an offer to buy any security. Any offering will be made exclusively through a Private Placement Memorandum under Rule 506(c) of Regulation D to investors whose accredited status has been verified; that memorandum — not this page — contains the complete terms, risk factors, sources and uses, fee mechanics, and tax disclosure. Operating projections derive from the HVS ANAROCK Feasibility Study (February 2026), prepared independently for Deltin Grand Hospitality & Realty and applied to the sponsor's construction schedule; building dimensions are from the MQ Studio concept design (March 2026) and subject to design development. The term facility is under arrangement and its final terms may differ from the indicative terms modelled. Scenario tools apply user-selected assumptions and produce illustrative model output only — not forecasts of investor returns; actual results will differ, potentially materially. Grand Hyatt is a brand of Hyatt Hotels Corporation; references reflect the executed management arrangement and do not imply Hyatt's sponsorship of, or participation in, this offering. Imagery is indicative. Investment in a single, unlisted, cross-border hospitality asset is illiquid and involves risk of total loss of capital.