In 2023, the company expected to make over $1 billion in India, giving them confidence for a positive outlook in 2024 reports Surfaces Reporter (SR)
Marriott International, the global hospitality giant, is gearing up for another potentially record-breaking year in India in 2024, with robust demand expected in both leisure and business travel. Ranju Alex, Area Vice President for South Asia at Marriott International, shared in an interview that the company is well on track to achieve its goal of expanding its India portfolio to 250 hotels by 2025, covering both operational and upcoming properties.
In 2023, the U.S.-based company projected revenues from its Indian operations to surpass $1 billion. Reflecting on the past year, Alex expressed confidence in Marriott's positive growth strategy, stating, "We have broken a lot of records and milestones in 2023, and we are expecting 2024 to be another record year. We are riding the India wave."
A key element of Marriott's expansion strategy is the introduction of new brands in the Indian market. One notable addition is the Moxy brand, set to make its South Asia debut with the opening of Moxy Bengaluru Airport Prestige Tech Cloud hotel on Monday. Describing Moxy as a disruptor in the Indian hospitality market, Alex emphasized its unique and playful approach, with features such as check-in at the bar, where guests are greeted with a complimentary cocktail. The brand is also geared towards modern travellers, incorporating tech-savvy elements like smartphone-controlled room features and dedicated co-working areas.
Marriott's Moxy pipeline includes upcoming openings like Moxy Mumbai Andheri West, Moxy Chennai OMR, and Moxy Bengaluru Sarjapur. The company currently operates around 125 Moxy hotels globally, with 16 in the Asia Pacific region.
Beyond Moxy, Marriott's expansion plans encompass diverse locations, with 10 JW Marriott hotels currently in operation and an additional 10 in the pipeline. The pipeline includes hotels in iconic locations such as Ayodhya, Ranthambore, Pahalgam, Katra, and Sonamarg. Alex highlighted the success of the Shillong property, stating, "Our hotel in Shillong has done extremely well."
The company's optimistic outlook extends to the return of international business travellers to India. After a period of reduced travel plans from 2020 to 2022 due to health and financial concerns, Alex anticipates a resurgence in conferences, meetings, and target-setting trips in 2024. Sectors such as medical and manufacturing are expected to contribute to the conferences business, while the wedding segment is predicted to maintain its growth.
With the India wave propelling Marriott International forward, the company looks set to achieve new milestones and further solidify its position as a leading player in the Indian hospitality market.