Hotels (Commonwealth Union) _ Marriott International, the world’s largest hotel chain, views India as a significant hub for growth opportunities, particularly in the luxury and premium segments. According to Rajeev Menon, President of Asia Pacific (excluding China) for Marriott International, about 80% of the new deals in India are in the luxury and premium space, a notable shift from the pre-COVID era.
Menon highlighted Marriott’s long-standing presence in India, spanning 25 years, and emphasized the upcoming opening of the 150th Marriott hotel in Katra, near the Vaishno Devi temple, marking the first five-star hotel in the area. Additionally, Marriott has signed deals for new properties such as the JW Marriott Resort & Spa in Alibag and the Ritz Carlton hotel in Jaipur, further solidifying its footprint in the country.
With 80-plus hotels under construction, Marriott aims to operate 250 hotels and 50,000 keys in India within the next five years. The company remains optimistic about India’s economic trajectory, projecting it to become the third-largest economy globally in the near future.
Marriott International has signed 30 deals in South Asia, with the majority focused on India, totaling over 5000 keys. However, Shawn Hill, Chief Development Officer for Asia Pacific (excluding Greater China) at Marriott, noted challenges in the Indian hospitality sector, including the complex permitting process and high land and construction costs.
Menon underlined the significance of enhancing the licensing and lending environment, pushing for the industry to be designated as infrastructure to streamline lending procedures. Despite these obstacles, Marriott has observed notable growth in revenue per available room in India, marking a 35% increase last year compared to 2019.
Marriott International’s success extends beyond India, with record signings in other Asian markets such as Indonesia, Vietnam, and Japan, indicating strong momentum for the entire region.
