Marriott plans 100 hotels in India by 2015
11 Nov 2010
Banking on India's economic expansion and the escalating demand for hotels across various segments, Canada-based Marriott International Inc has announced plans to boost its presence from the current 11 hotels to 100 hotels in the country by 2015.
The hotel operator, the biggest in North America, said it would use brands including Ritz-Carlton and Fairfield by Marriott in its expansion.
Marriott, which has worked in India since 1999, currently has 23 hotels under construction in the country. India, like other developing economies, including China, is experiencing rapid growth that many businesses are trying to help service.
"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," president and chief operating officer Arne Sorenson told reporters in Mumbai.
Marriott's plans include two hotels in Mumbai and one each in Bhopal, Kochi, Nashik, Hyderabad, Jaipur and Raipur in various segments such as Courtyard, Renaissance and JW Marriott. The group will have 41 hotels in India by 2013, creating more than 8,000 new jobs.
It is looking to expand in India mainly through partnerships with local hotel developers. Recently it signed management agreements for seven hotels, including five Courtyard properties, a Marriott hotel and a Renaissance property.
Marriott has more than 3,500 properties in 70 countries and territories. Internationally, the group plans to add 600 more hotels to its present global network of 3,400 by 2015, Sorenson said.
Earlier this month, the company said its board more than doubled its quarterly dividend to 8.75 cents.
