Hotel chain Marriott International expects tertiary markets to fuel its growth in India and several of new properties that will be launched during 2016 will be outside of the major cities.
“We have lot of supply in markets like Mumbai, Pune, Bangalore and Hyderabad. While we expect these will consolidate, and the overall pie to grow, the larger margins will come from tertiary markets,” Neeraj Govil, Market VP, South Asia, Marriott International, said.
This year, while three new properties have been launched so far, including the JW brand at Kolkata, Marriott will launch the Fairfield Inn brand in Lucknow, Jodhpur, Belgaum and Amritsar, while the Marriott will come up at Jaisalmer.
Currently, Marriott has over 7500 rooms in India in 32 properties in 18 cities and is seeing what Govil calls are the initial stages of an upswing.
Thanks to measures like Make in India, the hotel Group has seen good growth in the last two quarters of 2015, and exceptional growth in the first quarter of 2016, he said.
Earlier, Marriott announced its association with the RP-Sanjeev Goenka owned cricket IPL franchise Rising Pune Super giants for the forthcoming season.
Under this, it is the hospitality partner for the team, while the players will also sport the Marriott logo on the lead trousers.