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Real estate bigs are coming for the hotel industry bearing a ₹10,000-cr purse

Go Goa! Hospitality players can't have enough of India's favourite holiday destination

Karanvir Vasudeva's Storii Moira in Goa has 78% occupancies with average room tariffs of Rs 16,500. Goa sees a rise in branded hotel openings and signings. IHCL and Marriott International are in discussions for the Moxy brand. Hyatt recently launched JdV by Hyatt brand. Newer restaurant concepts are emerging in the luxury segment.

Marriott lines up big plans for South Asia

Marriott said its plan underscores the company's growth in the region, where it currently has a portfolio of 160 operating properties across 17 distinct brands. The company operates 148 hotels in India. In 2024, Marriott anticipates opening 14 hotels, following the brand debut of Moxy in South Asia in early January 2024.

Marriott International to open a new JW Marriott in Mumbai

Marriott International to debut the company's flagship brand, Marriott Hotels, in Mumbai along with the iconic JW Marriott brand

2024 could match or surpass last year's record hotel room supply additions

Kiran Andicot, regional vice president, South Asia for hotel development at Marriott International said the chain opened 12 hotels, totalling 1,431 rooms, in India last year. Andicot said the numbers for India could be in the same range as in 2023. Jaideep Dang, MD, hotels and hospitality group at JLL, said 2023 was the best year ever in terms of hotel openings.

High on hotels: A gold rush starts as businesses find 'room' for growth

The hospitality sector in India is attracting a diverse range of investors, including book publishers, car dealers, and school owners, in addition to industrial groups. The increased interest is driven by the country's growing economy and high demand for hospitality services. Hotel companies are also expanding to meet the surge in demand, while standalone properties in non-metro areas are being acquired by hotel chains. Factors such as the rise of travel as a lifestyle trend, improved infrastructure, and changing social norms are contributing to the long-term growth potential of the hospitality sector in India.

Businesses looking to diversify find room for growth in hospitality space

Entrepreneurs from various industries in tier-2 and -3 cities in India are entering the hospitality sector, diversifying their business portfolios. Sharad Agarwal, franchisee owner of Delhi Public School (DPS), is partnering with a luxury hotel chain to start his first hospitality venture in Siliguri. Mankind Pharma has also entered the sector with two hotels, and other companies are following suit.

Marriott International Plans to Expand Footprint in South Asia with 22 New Signings in the Past 18 Months

On the heels of the 16th Hotel Investment Conference - South Asia (HICSA 2021), Marriott International today announced it has signed 22 new hotel agreements in South Asia – comprising India, Bhutan, Bangladesh, Sri Lanka, Maldives and Nepal – in the past 18 months, expecting to add more than 2,700 rooms to its fast-growing portfolio.

With 22 new signings in 18 months, Marriott International expands footprint In South Asia

Sri Lanka gets a new hotel destination