Marriott International has had another remarkable year in South Asia. In 2024, Marriott International will have signed a record number of deals. The company signed 42 new deals and added 7,000 rooms to their pipeline, bringing the total for the year to nearly 20,000. Marriott’s commitment in enhancing its South Asian presence is evident by this impressive growth.
The company had a strong performance in 2024. Revenue per Available Room increased by 11 percent, driven primarily by an increase in Average Daily Rate (ADR). Marriott’s leadership in the region was reaffirmed by key metropolitan markets like Hyderabad, Gurugram Bengaluru and Mumbai.
Anthony Capuano highlighted the importance of South Asia in the company’s global strategy for growth during his recent trip to India. He highlighted the dynamic hospitality landscape of the region and its tremendous potential for expansion. Marriott is committed to creating economic impact, job opportunities, and supporting local economy with a robust pipeline. As we expand our brand portfolio and enhance the Marriott Bonvoy travel platform while expanding into new tertiary countries, our focus remains on meeting changing traveler needs and providing exceptional experiences. I am confident about our momentum, as we lead the travel industry and bring people closer together through the transformative powers of travel.
Marriott’s 2024 pipeline shows strong, diversified growth across the region. Half of the rooms signed are located in Tier 1 or gateway cities with 26% in leisure destinations. This is a clear sign of developer confidence as well as the growing demand in prime locations for travel experiences. Marriott operates a diverse portfolio in South Asia that includes 168 properties under 17 distinct brands. Marriott plans to open fourteen new hotels by 2025.
Marriott’s growth in South Asia is driven by the luxury segment, as affluent travellers are increasingly looking for destination-based experiences that include premium amenities. In 2024 75 percent of the rooms in the region would be in the upper-upscale and luxury segments. Marriott’s luxury brands including The Ritz-Carlton will continue to grow, with openings anticipated in Jaipur Udaipur and Chennai.
Hyderabad will also see the debut of W Hotels and St. Regis Hotels & Resorts in 2028 and 2031, respectively. JW Marriott will also add six new properties to its South Asia portfolio, bringing it to 27. The highly anticipated Mumbai EDITION is scheduled to open in 2029.
The company’s premium brands have also seen robust growth, with the milestone opening of India’s 150th Marriott property—the Katra Marriott Resort & Spa—in 2024. The expansion into Tier 2 and 3 cities is gaining pace, with new hotels in Jaipur and Surat.
Marriott’s Select Service brands are continuing to grow in the region and offer travellers a high-quality service at an affordable price. By the end of 2024 Select Service brands will account for 25% of Marriott’s rooms and 31% of its signed deals. Moxy Hotels, designed to cater to the needs of the next generation of travellers made their debut in South Asia by opening Moxy Bengaluru Prestige Tech Cloud. They are set to expand further in Chennai and Mumbai.
Marriott is also expanding their technology workforce in this region. In October 2024 the company will establish its first global capability center (GCC) at Hyderabad. The Marriott Tech Accelerator is designed to support the company’s global tech infrastructure, engineering needs and solutions across its operations.
Marriott’s expansion in South Asia is a testament to its commitment to long-term growth and to offering diverse travel experiences. It also demonstrates that it is committed to contributing to economic development in the region. Marriott’s strong portfolio of premium, luxury, and select service brand is positioned to meet the changing needs of travellers, and reinforce its position in the hospitality industry.
