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Marriott International is set to add and expand two more of its brands including Moxy and Tribute into Southern and Western India, said sources. The company is scouting for properties in these regions.
According to sources, the company which had announced the entry of these two brands earlier had put it on hold due to Covid. The company is now bullish on India, and hence, it is expanding its presence rapidly.
“We are expanding our brand portfolio in India. We plan to get Moxy, which caters to the younger generation. It is an extremely stylish brand, and it is affordable but it is very chic. In the first phase, we will have at least two hotels,” sources said.
Moxy is present globally within 134 countries globally.
Tribute, on the other hand, made its entry into Southern India in Kochi in 2021. It has plans to add at least two more in the next twelve to eighteen months. “We feel that Tribute caters to individual boutique hotels. We have a beautiful property in Kochi. We see an opportunity of having more such properties in Southern India,” sources said.
Tribute is present in at least 100 countries globally.
Marriott International has 30 brands globally of which 16 are present in India today which include JW Marriott, Fairfield by Marriott, Courtyard by Marriott, Sheraton, Renaissance, Four Points by Sheraton, among others.
“Post covid, India’s revival within the APAC region was the highest excluding China. ” said a source.
Revenue per available room
According to recent reports, Marriott International last year and revenue per available room (RevPAR) recovery for the country was at 120 per cent of 2019 levels in the fourth quarter of last calendar year.
According to sources, Marriot International’s brands in India are likely to have an exceptional year given that markets have finally opened up, and the visa issues are easing out.
“We are bullish about the fact that India will continue being among the top five growth markets. With the Average Room Rates (ARRs) being the way they have been, the recovery has been phenomenal, and we feel the occupancies are also going to be way higher than ever.”
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