Six of the 50 hotels under construction are being developed in partnership with Bengaluru-based real estate company the Prestige Group. These properties will be located in South India and would operate under JW Marriott, Tribune Portfolio and Moxy brands. Set to debut in India, Moxy Hotels will target millennial travelers with its buzzing social spaces and tech-enabled guest rooms. The hospitality major would be coming up with a 125-room Moxy Chennai and a 200-room Moxy Bengaluru by 2024. With this, Marriott will have an offering of 17 brands in the country across 36 cities.
JW Marriott, which opened its 100th hotel in India in Bengaluru last year, has been witnessing a double digit growth in the country, said Menon.
According to IBEF data, international hotel chains are increasing their presence in India and will account for around 50 per cent share in the tourism and hospitality sector by 2022. Department for Promotion of Industry and Internal Trade data said the sector attracted over $12 billion foreign direct investments between April 2000 and March 2019.
Another US-based international hotel chain, Radisson Hotel Group, is also looking to touch the three-digit mark in India by the end of the year in terms of number of properties.
Currently, the company operates 90 hotels in the country while 10 more are expected to be operational by the end of 2019.
The hospitality major has diverse brands such as Park Inn, Radisson Blu and The Park in the country with over 10,000 keys in operation. “We are looking at doubling our portfolio to 200 properties by 2022,” said a company spokesperson.
Betting big on the tier-II market in India, US-based hotel chain Hyatt Hotels Corporation is also planning to add 22 more properties to its existing 29 hotels, taking the total number to 51 in the next five years.