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Room rates are growing faster in India, says Marriott's Arne Sorenson

Marriott International's president & CEO says the company's room inventory in the country will cross 30,000 over the next few years

Published: Jul 2, 2018 05:14:10 PM IST
Updated: Jul 2, 2018 05:16:04 PM IST

Room rates are growing faster in India, says Marriott's Arne Sorenson
Arne Sorenson, president & CEO, Marriott International

 
Q. With 20,000-plus rooms in India, how important is the country for Marriott?
India is an important market for our global growth strategy. Marriott International just opened its 100th hotel in the country—the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center. We expect to open more than 50 hotels in India, raising inventory to more than 30,000 rooms over the next few years, thanks to demand for mid-market hotels. Demand is also growing for our upscale and luxury brands.

We have a portfolio of 30 brands, representing more than 6,500 properties in 127 countries and territories. Presently, we have 15 brands in India.

Q. What are your plans for your luxury brand Ritz-Carlton?
There are three Ritz-Carlton projects under development in Pune, Mumbai and New Delhi.

Q. Post Marriott’s takeover of Starwood does the association with ITC Hotels continue?
Our Luxury Collection brand continues to be in India through our partnership with ITC; we have 11 hotels under the brand and plan to open three more hotels in India.

Q. In terms of per room night rates, how does India compare with other countries?
Room rates vary depending on the brand. India’s average daily rate as of the end of the first quarter of 2018 was $120.58, up by 4.4 percent from the previous year. Worldwide, the average daily rate was $159.92, up by 1.5 percent from the year before. So while the rates are lower in India, they are growing at a faster pace than the rest of the world.

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(This story appears in the 20 July, 2018 issue of Forbes India. To visit our Archives, click here.)

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