Saraf Hotel Enterprises started by Mr. Radhe Shyam Saraf opened its first hotel, Yak & Yeti in the heart of Kathmandu, Nepal in 1977. In 1980, Mr. Saraf, as the founder promoter of Asian Hotels Ltd., initiated the construction of Hyatt Regency in New Delhi. The 550-room hotel opened to receive guests for the Asian Games in 1982 with a record completion time of two years.
In 1996, the group launched Grand Hyatt New Delhi (now The Grand, New Delhi), a 400-room project that opened for guests in 2000. In 1997, the group also began developing Hyatt Regency Kathmandu. The 40-acre property was the largest private sector development for tourism in Nepal. Saraf Hotel Enterprises went on to launch Grand Hyatt Mumbai, India's first mixed-use development that began operations in 2004 and immediately gained iconic status in the city.
Saraf Hotel Enterprises with its partners in Asian Hotels Ltd. also completed Hyatt Regency Kolkata and Hyatt Regency Mumbai in 2002. Asian Hotels Ltd., listed on the BSE, demerged in 2010. Thereafter, Saraf Hotel Enterprises took over Asian Hotels (East) Ltd., owning company of Hyatt Regency Kolkata. In 2011, the group opened Hyatt Regency Chennai, a 327-room deluxe hotel in the heart of the city. In 2012, Hyatt Place Hampi opened to become the first Hyatt Place outside North America. Hyatt Raipur also opened its door in 2014, which is a mid market hotel.
Saraf Hotel Enterprises currently has several new projects in the pipeline including Hyatt Regency Ahmedabad with 210 rooms and Andaz New Delhi with 389 rooms and 146 serviced apartments. Hyatt Regency Lucknow and Hyatt Regency Guwahati with 200 rooms each have also been conceived to become pioneers in their respective cities. The group is also working on a large hotel and convention centre development in Bodhgaya.