News for the Hospitality Executive
MUMBAI, India and BETHESDA, Md., Nov. 11, 2010-- Marriott International, Inc. (NYSE: MAR) announced today that it expects to exponentially expand its portfolio from the current 11 to 100 hotels in India within the next five years across seven leading brands. In addition to the introduction of its Ritz-Carlton brand, Marriott growth plans will include the debut of its moderate-tier Fairfield by Marriott brand.
Announced today were recently signed management agreements for seven new hotels that will nearly quadruple Marriott's presence in India in the next three years. When all signed hotels are opened and added to the company's portfolio of 11 operating properties and 23 previously announced hotels now under construction, the Marriott portfolio in India will total 41 hotels by 2013. Through this expansion, the company also plans to create more than 8,000 new jobs in India over the next three years, ranging from entry-level to managerial.
"We're excited to join with our local hotel development partners in contributing to India's future growth and unlimited business potential," said Arne Sorenson, president and chief operating officer of Marriott International. "India has the second largest hotel development pipeline in Asia and is expected to double the number of branded hotel rooms over the next three years to approximately 120,000 rooms. We're thrilled that about 10 percent of those new rooms are slated to carry a Marriott International brand flag and that we'll be able to provide thousands of people real career opportunity in an environment where their ideas and talents can flourish."
The seven agreements announced today are for five moderate-priced Courtyard properties, an upscale Marriott hotel and a life-style Renaissance property:
Marriott International has operated in India since 1999 with the opening of the Goa Marriott. Today the company is represented in the country by its JW Marriott, Marriott, Renaissance, Courtyard by Marriott and Marriott Executive Apartments brands. Another 23 of its hotels are currently under construction and expected to open now through 2013.
Marriott International is a leading lodging company with more than 3,500 lodging properties in 70 countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, The Autograph Collection, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott brands; licenses and manages whole-ownership residential brands including The Ritz-Carlton Residences, JW Marriott Residences and Marriott Residences; operates Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Maryland USA and has approximately 137,000 employees at 2009 year-end. It is recognized by Fortune magazine as one of the best companies to work for, and by Newsweek as one of the greenest big companies in America. In fiscal year 2009 Marriott International reported sales from continuing operations of nearly $11 billion. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
Marriott International, Inc.
Marriott Marquis Hotel Miami Opens as the 47th JW Marriott Property;
Plans Include an Addtional 20 Properties Over Next Five Years /
Soon to Open JW Marriott Marquis Hotel Miami Taking Amenities to
Another Level with a Virtual Bowling Room, Virtual Golf Facility and a
10,000 sq ft NBA Basketball Court; Not to Mention Daniel Boulud's db
Bistro Moderne and a Hotel within a Hotel, the Hotel Beaux Arts Miami
/ August 2010
|357-room JW Marriott Miami Marquis Hotel Being Developed by MDM Hotel Group, LTD in Downtown, Miami; Will Include Daniel Boulud's DB Bistro Moderne / September 2009|
|The Metropolitan Miami Project in Downtown Miami Planning a 396-room Miami Met Marquis, a New Brand Addition to the JW Marriott Collection Hotels; Joins Daniel Boulud's DB Bistro Moderne / June 2007|
|Florencia Tabeni Appointed General Manager for the JW Marriott Marquis Miami and Hotel Beaux Arts Miami / December 2009|