Partner firm Marriott International
is looking to grow its India footprint by adding 50 hotels that will provide 15,000 more rooms over the next five years. According to the proposal, the hotels in the pipeline will include a range of Marriott brand portfolios such as JW Marriott, Tribute Portfolio and Sheraton. All these hotels are expected to be operational between 2021 and 2025.
At 11:23 AM, the stock was trading 3.62 per cent higher at Rs 306.20, as against a 0.33 per cent rise in the benchmark S&P BSE Sensex. Thus far in 2019, the counter has surged nearly 35 per cent, outperforming the benchmark Sensex. The headline index has advanced 13 per cent during the period, while the S&P BSE Realty index gained 19 per cent till Tuesday.
Projected to be worth Rs 1.21 lakh crore by 2023, the Indian hospitality sector is witnessing an upward trend across mid-scale, upscale and luxury segments.