Unfortunately, there is no longer a Grand Hyatt in New Delhi. There is only a Hyatt Regency left in New Delhi since the Grand Hyatt was re-branded/sold.

The only major hotel near the airport is the Radisson and staying out there is just not too much fun, although it suffices for work purposes and transits and is a good hotel by Delhi standards.

The Maurya Sheraton in Delhi is quite good although the location is good for somethings and not great for other things. This hotel happens to be the place that ex-President Clinton stays at and eats at when there. I like the hotel but their treatment of Platinum members is often questionable and the Platinum amenity choice can skip over their mind often enough (like always).

The better Delhi hotels, there is a choice of:

The ITC WelcomeGroup Maurya Sheraton
Oberoi
Taj (Mahal) Mansingh Road
Taj Palace
Hyatt Regency
LeMeridien
Intercontinental Grand
Intercontinental Nehru Place
Radisson
ITC Welcomgroup Marriott
Hilton Gurgaon (not New Delhi, but in the area closer to a lot of the call centers/techies)

Shangri-La hotels is currently being construction but will not be completed for at least one year -- since there is extensive "renovation" equating to demolition of an old government-owned hotel.