Marriott International plans to add 50 hotels in 3-4 years
Luxury hotel chain Marriott International is planning to add more than 50 hotels in the next three-four years in order to expand its India presence.
Craig S Smith, President and Managing Director, Asia-Pacific, Marriott International Inc, said, “We have about 50 hotels in the pipeline but will probably open even more than that.”
The global hotel chain operates in the ‘leasing and franchising’ model. It has 116 hotels and more than 32,000 rooms in the country. Marriott has 15 brands like Ritz-Carlton, JW Marriott, Renaissance Hotels, Courtyard, Fairfield and Le Meridien, each catering to a different customer segment.
In 2018, the hotel group added 18 hotels. It is eyeing to add 22 hotels, including in Tier 2/3 cities, in 2019.
“Noting that 30 per cent of the group’s India expansion is through the ‘conversion and rebranding’ route, the setting up of a new hotel has challenges of high cost of land and capital, besides a cumbersome permit process. So, it becomes a very compelling argument to buy a distressed hotel, renovate it and put a name on it and see the hotel uplift,” Smith added.