Demand for Marriott’s Select Service Brands Fuel Marriott’s Growth in India
Marriott International (NASDAQ: MAR) marked an important milestone in India today with the opening of its 100 th hotel in the country - the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center in the multinational information technology hub of Bengaluru. Marriott International President and CEO, Arne Sorenson, will attend the opening of the hotel and visit other hotels in the company’s portfolio during a week-long visit to India. The company is poised to further grow its leadership presence in India in the years to come, with more than 50 signed projects in its pipeline.
“India is one of Marriott International’s most important markets in Asia, with the second highest- number of hotels and rooms after China,” said Paul Foskey, Chief Development Officer, Marriott International. “Given India’s robust economy and rising middle class, we see incredible opportunity to continue working with owners to open hotels from across Marriott’s extensive array of brands, particularly in the upper midscale, upscale and luxury segments.”
The opening of the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center underscores the company’s commitment to catering to India’s growing and affluent market. The 360-room property features 39 suites, stylish interiors and panoramic views of the garden city. Marriott International’s 100 th property in India also offers the Sheraton brand’s signature amenities and facilities like Shine Spa for Sheraton™, Sheraton Club Lounge, Sheraton Fitness and Sheraton Signature Sleep Experience.
After more than a decade of accelerated growth in India, Marriott today has more than 20,000 rooms and 15 brands in 32 cities that create economic opportunity across the country. More than 30,000 people currently wear a Marriott badge in India, and another 3,000 people are expected to join the company in 2018.
Emerging markets, like India, have tremendous growth opportunity for brands such as Courtyard by Marriott, Fairfield by Marriott and Four Points by Sheraton, all of which drove Marriott’s India growth last year with seven openings. Growth prospects in the secondary and tertiary markets will continue to be a major focus for Marriott in 2018, leveraging strong demand for Marriott’s select-service brands and the growing demand for its upper upscale and luxury portfolios.
Marriott expects to open more than 50 new hotels in India and raise inventory to more than 30,000 rooms over the next few years, thanks to demand for mid-market hotels. Demand is also growing for Marriott’s upscale and luxury brands; the company, for instance, currently has three Ritz-Carlton projects under development in Pune, Mumbai and New Delhi.
“Achieving this milestone solidifies our commitment to the region and is a testament to the strength of our brands, our strong team, and the confidence from our owners in delivering world-class hotels and personalized services to our guests. We shall continue to pave the way for aggressive expansion with our strong pipeline of hotels,” said Neeraj Govil, Area Vice President, South Asia, Marriott International. “It is an exciting time to be at the forefront of the hotel industry and we have set ambitious goals for the future. Marriott International continues to strive at providing unique experiences, leading in technology innovation as well as ensuring that our loyalty programs continue to provide elevated benefits to our member base.”
Note on forward-looking statements: This communication contains “forward-looking statements” within the meaning of U.S. federal securities laws, including expected future hotel openings and locations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including other risk factors that we identify in our most recent annual report on Form 10-K that we filed with the U.S. Securities and Exchange Commission. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this communication. We make these forward-looking statements as of the date of this communication, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International, Inc.: Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,500 properties in 30 leading hotel brands spanning 127 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram
For further details contact:
Noelle Rocque Daniel
PR Director - Marriott India