Hospitality major Global Hyatt Corporation plans to develop six properties in India with an investment of around Rs 1,000 crores in 3-4 years in a joint venture with real estate firm Emaar MGF. The hotels, to be launched under the brand 'Hyatt Place', would come up in Mysore, Lucknow, Indore, Hyderabad, Gurgaon and Mangalore with a total of 950 rooms.

About $100-$120 million would be arranged through debt while the rest of the investment would be brought in as equity by us and Emaar MGF," according to Ratnesh Verma of Hyatt India Consultancy Pvt Ltd, the Indian arm of the Chicago-based organisation.

With these six properties, the number of Hyatt hotels in the country would go up to 20. Meanwhile, the company has already begun work on 14 other projects with a total of 3,600 rooms to be launched under brands like 'Hyatt Regency', 'Grand Hyatt' and 'Park Hyatt'. The company currently operates five properties with a total capacity of 2,000 rooms in four cities in the country.