Marriott International is set to make a mark with a slew of new properties, including a debut of it’s Edition brand in India in Gurgaon. Speaking on the sidelines of the announcement of Mumbai’s first Ritz Carlton, Paul Foskey, Executive Vice President, Hotel Development, Asia-Pacific, Marriott International revealed that, while there are no further developments slated under the Ritz Carlton brand, the company definitely has further plans for it in the Indian market. When the time is right, Foskey added, Delhi would be a target for a Ritz Carlton property
He further mentioned that the company has announced it’s first Edition property in Gurgaon. The property is owned by Hero Cycles and the opening date is yet to be confirmed.
In addition, the company has a Renaissance property under construction in Lucknow, expected to be operational next year. The establishment, located in the city centre, is a relatively small property featuring approximately 150 rooms, ample meeting space, a rooftop bar and F&B offerings, Foskey said.
Marriott is also readying a property under the Fairfield brand in Ludhiana. When asked about this move to tier II cities and the kind of ARR such locations generate, Foskey stated, “Different markets are appropriate for different brands, so, while the bigger markets can hold all the brands, as you move down to other cities, you witness a smaller rate scale, the rate it can generate and so on.”
When asked about their target locations moving forward, Foskey mentioned that Marriott is looking at projects in Kerala and Goa. “There is nothing tangible to announce yet, but we are keen on the leisure resort segment, and are looking for opportunities under a variety of brands,” he added.
Speaking about the Indian market, Foskey opined that the market is doing reasonably well despite the economic growth and liquidity having slowed down, and the industry being faced with a general lack of optimism generally in the market. “That has affected the pipeline a little bit in the last couple of years. Still, deals and transactions are getting done, and we expect that to pick up once sentiment changes, something that should happen relatively soon,” he concluded.
