Marriott is betting big on India, plans 100 hotels by 2017
Marriott now wants to open at least 100 hotels by 2017 , adding to its existing count of 23 properties.<br /><br />
It has been busy two months for hotel giant Marriott International.In Bengaluru, it opened three hotels: the country's first Ritz Carlton, a corporate Hotel Fairfield Inn and a JW Marriott. And on Thursday, the company launched the JW Marriott in New Delhi's aerocity, thereby becoming the first hotel to start operations in the hospitality district of the airport.
According to JW Marriott hotel officials, the total investment in the project was around Rs 900 crore. This included Rs 100-150 crore cost escalation due to delay in the project.The hotel at the Aerocity is the largest of its five hotels in India with 523 rooms spread over 4.5 acres.
Marriott now wants toopen at least 100 hotels by 2017 , adding to its existing count of 23 properties.
In a CNBC-TV18 exclusive, Simon Cooper, president and MD - Asia Pacific, Marriott International said the hotel giant is planning at least 100 hotels by 2017-2018.
Of the 100 properties, around 40 would be of the Fairfield brand.
Marriott's future projects in the country include two Renaissance properties in Lucknow and Bangalore, two JW Marriott hotels in Mumbai and Kolkata, three Courtyard by Marriott hotels in Agra, Bilaspur and Jaisalmer and a potential resort property in Goa.
Cooper further said he will participate in Taj Mansingh's auction only with a partner in real estate.
"We are in the business of global hospitality. We are not in the business of global real estate. So, we try to find partners everywhere we go who's business is real estate, they understand real estate.
Kalanithi Maran-owned budget carrier SpiceJet has shortlisted three foreign investors to raise $100-150 million by way of equity dilution and/or debt, CNBC-TV18's Nayantara Rai reported quoting sources.
Leading auto maker Maruti Suzuki has demanded more land from the Gujarat government to set up vendor parks. This is in addition to the 700 acres already allocated to the company.