1. Marriott to open 49 more hotels in India over 4 years

Marriott to open 49 more hotels in India over 4 years

Marriott Hotels India has already signed deals with reputed developers in various cities.

By: | New Delhi | Published: November 7, 2014 3:18 AM

The Indian arm of $35- billion global hospitality giant Marriott International will open 49 more hotels across several cities in the next four years with partners in the real estate industry, said a senior company official. It currently has 25 hotels in India.

Marriott Hotels India has already signed deals with reputed developers in various cities, said Rajeev Menon, the company’s area vice-president.

The partners include Raheja Developers for Bombay and Bangalore and hoteliers Prabhakar Reddy for Pune and Sushil Gupta for New Delhi. Menon said Marriott was also increasing its presence in smaller cities and the Northeast, such as Meghalaya and Assam. Two of the proposed 49 hotels are in Shillong and in Guwahati. Marriott designs and runs the hotels while the real estate partner invests in land.

Menon declined to share the financial details, but said the company has been recording revenue growth in double digits for many years.

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