The Grand New Delhi is part of the Saraf Hotel Enterprises. The group operates luxury hotels in several parts of the country. The group was founded by Mr. Radhe Shyam Saraf. The first hotel of the Saraf Group, Yak & Yeti, was opened in the heart of Kathmandu, Nepal in 1977. The second luxury hotel of the group, Hyatt Regency, was opened in New Delhi in 1980. In 1996, the group launched The Grand New Delhi (earlier known as Grand Hyatt 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 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 Triumph Goa, Hyatt Regency Ahmedabad with 210 rooms and Andaz New Delhi with 389 rooms and 146 service 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, Bihar