Marriott International Plans to Expand Footprint in South Asia with 22 New Signings in the Past 18 Months
MUMBAI,India,Sept. 28,2021 --On the heels of the 16th Hotel Investment Conference - South Asia (HICSA 2021),Marriott International today announced it has signed 22 new hotel agreements in South Asia – comprising India,Bhutan,Bangladesh,Sri Lanka,Maldives and Nepal – in the past 18 months,expecting to add more than 2,700 rooms to its fast-growing portfolio. Marriott International currently is the hotel chain with the largest number of rooms in the South Asia region and expects to continue its solid growth with these new signings.
"In a highly unpredictable year,these signings are a testament to Marriott International's resilience and agility in driving strong growth within a hospitality landscape that continues to evolve," commented Rajeev Menon – President Asia Pacific (excluding Greater China),Marriott International. "It is a sign of confidence from our owners and franchisees who have been an integral part of our growth journey.We are grateful for their continued support and trust in the power of our brands as we continue to welcome back travelers."
"These signings reinforce our commitment to South Asia as a high potential region where we continue to grow and engage with an expanding customer base by introducing more of Marriott's brands and unique experiences in exciting destinations," emphasized Kiran Andicot - Regional Vice President Development,South Asia,Marriott International. "We look forward to the opening of these new hotels in the future and to exploring future development opportunities throughout the region."
Owner Desire for Luxury Brands
More than a third of the newly signed projects in South Asia in the last 18 months include hotels and resorts in the luxury-tier,comprised of brands such as JW Marriott and W Hotels. This reflects travelers' growing demand for bespoke and superb amenities and services. Travelers can anticipate the debut of the W Hotels brand in Jaipur with W Jaipur in 2024. Once opened,the hotel expects to disrupt the norms of traditional luxury with its iconic service,infectious energy,and innovative experiences. Rooted in holistic well-being,JW Marriott properties offer a haven designed to allow guests to focus on feeling whole – present in mind,nourished in body,and revitalized in spirit. Expecting to debut across several distinctive locations within South Asia over the next five years,travelers can look forward to JW Marriott Ranthambore Resort & Spa located at one of India's most prominent wildlife sanctuaries,The Ranthambore National Park; JW Marriott Chennai ECR Resort & Spa on India's beautiful Southern coastline; JW Marriott Agra Resort & Spa in the land of the TAJ MAHAL; and the debut of the JW Marriott brand in Goa and Shimla -- two of India's most famous resort destinations -- with JW Marriott Goa and JW Marriott Shimla Resort & Spa.
JW Marriott Hotel Bhutan,Thimphu is expected to mark the debut of the JW Marriott brand in Bhutan,is anticipated to open in 2025 and offer curated experiences that celebrate the peaceful spirit of the land.
Maldives anticipates its second JW Marriott hotel in 2025,when the JW Marriott Resort & Spa,Embhoodhoo Finolhu - South Male Atoll featuring 80 pool villas is expected to open. The signing follows the newly opened The Ritz-Carlton Maldives,Fari Islands,strengthening Marriott's footprint on the famed leisure destination.
Select Brands Continue to Drive Growth
Comprised of brands such as Courtyard by Marriott,Fairfield by Marriott,Four Points by Sheraton,Aloft Hotels and Moxy Hotels,Marriott's select brands also continue to resonate in South Asia representing more than 40 percent of the 22 newly signed hotel projects. The Moxy brand,known for its experiential,playful style and approachable price point,is expected to debut in India and Nepal with Moxy Mumbai Andheri West in 2023 and the Moxy Kathmandu in 2025
Secondary and tertiary markets remain a focus for Marriott International in India,leveraging strong demand by owners and travelers for select brands. Designed for the modern business traveler,the Courtyard by Marriott and Fairfield by Marriott brands are committed to smart and thoughtful guest service,no matter the purpose of their trip. With the recently signed agreements,Courtyard by Marriott expects to add five new properties to an existing operating portfolio of 20 hotels across South Asia. Four of these properties are expected to open in the next five years and will be located in leading tier-two markets within India: Courtyard by Marriott Gorakhpur; Courtyard by Marriott Tiruchirappalli; Courtyard by Marriott Goa Arpora; and Courtyard by Marriott Ranchi. Fairfield expects to add two new properties in Jaipur. In Sri Lanka,the Courtyard by Marriott Colombo expects to mark the debut of the Courtyard brand in the country,slated to open in 2022.
Premium Brands Cement Their Foothold
Expected to further the growth of premium brands in South Asia,the recent signings include the Katra Marriott Resort & Spa in India and the Le Meridien Kathmandu,which is expected to be the debut of the Le Meridien brand in Nepal. Additionally,the Bhaluka Marriott Hotel expects to mark the entry of the Marriott Hotels brand in Bangladesh,anticipated to open in 2024.
Marriott International is well-positioned in South Asia with 135 operating hotels across 16 distinct brands in five countries,aimed at providing differentiated experiences across traveler segments. The brands currently operating in South Asia include: JW Marriott,St. Regis,The Ritz-Carlton,W Hotels,and The Luxury Collection in the luxury segment; Marriott Hotels,Sheraton,Westin,Tribute Portfolio,Le Meridien,Renaissance and the Marriott Executive Apartments in the premium segment; Courtyard by Marriott,Fairfield by Marriott and Aloft Hotels,in the select service segment.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of United States federal securities laws,including expected hotel openings and brand debuts in certain markets; interest in and demand for certain brands and certain offering types; our growth pipeline and future expansion; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess,including those we identify below and other risk factors that we identify in our U.S. Securities and Exchange Commission filings,including our most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K. Risks that could affect forward-looking statements in this press release include the duration and scope of COVID-19,including the availability and distribution of effective vaccines or treatments; the pandemic's short and longer-term impact on the demand for travel,transient and group business,and levels of consumer confidence; actions governments,businesses and individuals have taken or may take in response to the pandemic,including limiting,banning,or cautioning against travel and/or in-person gatherings or imposing occupancy or other restrictions on lodging or other facilities; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies,travel,and economic activity,including the duration and magnitude of COVID-19's impact on unemployment rates and consumer discretionary spending; the ability of our owners and franchisees to successfully navigate the impacts of the pandemic; the pace of recovery when the pandemic subsides and any dislocations in recovery as a result of resurgences of the pandemic; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps we and our property owners and franchisees have taken and may continue to take to reduce operating costs and/or enhance certain health and cleanliness protocols at our hotels; the impacts of our employee furloughs and reduced work week schedules,our voluntary transition program and our other restructuring activities; competitive conditions in the lodging industry and in the labor market; relationships with customers and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise any forward-looking statement,whetheras a result ofnew information,future events or otherwise.
ABOUT MARRIOTT INTERNATIONAL
Marriott International,Inc. (NASDAQ: MAR) is based in Bethesda,Maryland,USA,and encompasses a portfolio of roughly 7,800 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts around the world. The company offers Marriott Bonvoy®,its highly awarded travel program. 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.
