The Asia-Pacific region will see the maximum addition in rooms by major hospitality chains in the next two to four years. Brands like Marriott International, Hyatt Hotels Corporation, Starwood Hotels & Resorts Worldwide and InterContinental Hotels Group (IHG) have ambitious launch plans for the region, with India and China on top of their agenda.
Talking to FE, Mark Hoplamazian, president and chief executive officer, Hyatt Hotels, said, ?India represents one of the greatest hotel markets over the next decade ? one that will play a key role in driving Hyatt?s long-term growth.? Hyatt has a total of 120 new hotel properties on the pipeline, globally. Of these, 30 are routed to India.
Adds Rajeev Menon, area vice-president for India, Malaysia, the Maldives and Pakistan, Marriott International, ?Of the 130 new properties under various stages of development globally, the most are in the Asia-Pacific and the West Asia markets.? He added the Asia-Pacific is a very important region for development. The group will be adding 24 new properties in the region this year.
InterContinental Hotels Group (IHG) that currently has close to 60-65% of its business coming from the US and European markets, too believes that India and China are the future growth markets. The group has over 200 new properties under various stages of development with 41 planned for Indian market for the next four years.
?India is one of the most promising markets within the Asia-Pacific, with GDP estimates topping 7% for the next two years and a consumer market expected to rank as the world?s fifth largest by 2025,? said Miguel Ko, chairman & president of Starwood?s Asia Pacific division.