Marriott International to Have 100 Hotels in India By 2015
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Marriott International to Have 100 Hotels in India By 2015
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Category: Asia Pacific - India - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2010-11-15
Growth Plans Span Seven Hotel Brands from Ritz-Carlton to Moderate-Tier Fairfield by Marriott
Marriott International, Inc. (NYSE: MAR) announced today that it expects to exponentially expand its portfolio from the current 11 to 100 hotels in India within the next five years across seven leading brands. In addition to the introduction of its Ritz-Carlton brand, Marriott growth plans will include the debut of its moderate-tier Fairfield by Marriott brand.
Announced today were recently signed management agreements for seven new hotels that will nearly quadruple Marriott's presence in India in the next three years. When all signed hotels are opened and added to the company's portfolio of 11 operating properties and 23 previously announced hotels now under construction, the Marriott portfolio in India will total 41 hotels by 2013. Through this expansion, the company also plans to create more than 8,000 new jobs in India over the next three years, ranging from entry-level to managerial.
"We're excited to join with our local hotel development partners in contributing to India's future growth and unlimited business potential," said Arne Sorenson, president and chief operating officer of Marriott International. "India has the second largest hotel development pipeline in Asia and is expected to double the number of branded hotel rooms over the next three years to approximately 120,000 rooms. We're thrilled that about 10 percent of those new rooms are slated to carry a Marriott International brand flag and that we'll be able to provide thousands of people real career opportunity in an environment where their ideas and talents can flourish."
The seven agreements announced today are for five moderate-priced Courtyard properties, an upscale Marriott hotel and a life-style Renaissance property:
-- 107-room Courtyard by Marriott Kochi/Cochin International Airport. It is owned by Lulu Flight Kitchen Private Ltd. and is planned to open in 2012.
-- 101-room Courtyard by Marriott Bhopal. It is owned by DB Malls Private Ltd. and is planned to open in second quarter 2011.
-- 160-room Courtyard by Marriott Chembur. It is owned by Acron Hotels Private Ltd. The hotel's first phase is scheduled to open in 2013 with an additional 76 rooms expected to be added later.
-- 150-room Courtyard by Marriott Nashik. Owned by Wasan Hotels Private Ltd.; the hotel is expected to open in 2013.
-- 200-room Courtyard by Marriott Hyderabad Hitec City. It is owned by Future InfraIndia Private Ltd. and is scheduled to open in 2013.
-- 365-room Jaipur Marriott Hotel. It is owned by Serveall Land Developers Private Ltd. and is expected to open in 2011.
-- 150-room Renaissance Raipur Hotel, opening in 2013. It is owned by Krish Hotels Private Ltd.
Marriott International has operated in India since 1999 with the opening of the Goa Marriott. Today the company is represented in the country by its JW Marriott, Marriott, Renaissance, Courtyard by Marriott and Marriott Executive Apartments brands. Another 23 of its hotels are currently under construction and expected to open now through 2013.
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