Marriott International recently opened its 100th property in India. Its latest addition is Sheraton Grand in the southern city of Bengaluru. With annual global sales revenues of $17 billion, Marriott has now emerged the largest hotel chain in India in terms of room numbers with more than 22,000 keys in operation across different parts of the country.
Speaking at the opening of Sheraton Grand in Bengaluru, Arne Sorenson, President and CEO of Marriott International, said that India is Marriott’s third most strategic market after the US and China to have achieved this milestone. With around six thousand five hundred hotels in its kitty globally, Marriott’s accelerated growth in India has been aided by it’s worldwide acquisition of Starwood Hotels & Resorts that already had one of the widest footprint in India amongst the international hotel chains operating in the country.
Sorenson also pointed that Marriott has opened 15 hotel properties in India last year and will add the same number of properties to its operational kitty this year as well. The hotel chain also boast of a robust development pipeline n India with as many as 50 hotels at various stages of development that will join Marriott’s operational portfolio as soon as they are ready.
While pointing at the opportunity for growth that Marriott sees in the Indian market, Sorenson said that of the average 70 per cent occupancy that Marriott’s India properties are doing, 60 per cent of it comes from domestic bookings. He said that the growth in India’s robust economy could be more shinning if simplifies bureaucratic norms and low taxes were to be introduced.
