Tourism Minister Kandula Durgesh and Bheemunipatnam MLA Ganta Srinivasa Rao laid the foundation stone for a five-star Hyatt hotel near Sagar Nagar on the Yendada stretch in the city on Saturday (March 21, 2026).
The hotel will be built on three acres, with an investment of around ₹250 crore. The project is expected to be completed within two years.
Mr. Durgesh said that the Memoranda of Understanding (MoUs) signed during the CII Partnership Summit last year are materialising. The upcoming hotel would boost tourism sector in Visakhapatnam.
He said that the Hyatt hotel, being developed by the PVR Group, will offer world-class luxury amenities, joining the league of premium hospitality establishments.
The hotel will feature state-of-the-art conference halls equipped with advanced technology, making it an ideal venue for national and international events, he said.
