India can expect more Marriott International hotels across its other brands coming up in the country’s secondary and tertiary markets, Anthony Capuano, the hospitality group’s chief executive, told ET in an interview.
Capuano, who met Prime Minister Narendra Modi in New Delhi on Thursday, said during the hour-long meeting, the Prime Minister “encouraged us to partner with his staff to not just do a better job in the region, but globally to make sure that the next generation of travellers who crave adventure and local authentic experiences understand the breadth of those experiences that are available in India”.
Marriott International is the world's largest hotel chain and lodging company in terms of the number of rooms, with more than 1.5 million rooms in its portfolio. The chain has 140 hotels in India and plans to get to 250 hotels in the country by 2025. It plans to launch 13 hotels, totalling 1,902 rooms, in India this year.
“India is one of the bright shining stories we have in our global recovery. We have more rooms managed in India than any other branded company in the world and would like to see that lead extend over time. The Prime Minister was thrilled to hear that we have already got projects, open and under construction, in markets that many of the multinationals might not be able to find on a map. As we think about meaningfully increasing our footprint across India, a lot of that growth will come from those markets,” he added.
Capuano said in the US, 60% of all the hotels are owned by Indians or Indian-Americans and with increased frequency, those owners are tapping opportunities to reinvest in their home country.
“We met with our large US partners who are establishing development offices here in India. They are building operating infrastructure and are looking to grow their portfolios here,” he added.
While the chain operates in an industry that is cyclical and is influenced by macroeconomic metrics, there are dynamics at play that bode well for Marriott’s financial performance, Capuano said.
Read more at: https://economictimes.indiatimes.com/epaper/delhicapital/2023/apr/15/satet-oped/marriott-to-go-bigger-on-india-a-bright-shining-story-says-ceo/articleshow/99502981.cms
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