Marriott International signs record 42 deals in 2024, adding 7,000 rooms in South Asian region
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Global hospitality group Marriott International on Monday said in 2024, the company inked 42 deals adding another 7,000 rooms in the South Asian region, including in India.
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South Asia delivered strong full-year performance in 2024, with revenue per available room (RevPAR) growth of 11 per cent, led by ADR (Average Daily Rate) and occupancy, Marriott International said in a statement.
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Key metropolitan markets such as Hyderabad, Gurugram, Bengaluru, and Mumbai, were instrumental in driving the ADR growth, it added. "We had a record-breaking year in 2024, with unprecedented signings and strong business performance in South Asia, underscoring the region's immense growth potential. With a robust pipeline of openings, we remain committed to driving economic impact, creating job opportunities and supporting local economies," Marriott International President and CEO Anthony Capuano said.
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As Marriott International continues to broaden its brand portfolio, expand into new tertiary markets, and enhance its Marriott Bonvoy travel platform, the company's focus remains on meeting evolving traveller needs and delivering exceptional experiences, he said.
Marriott's 2024 pipeline highlighted a strong, diversified growth in the region, with 50 per cent of rooms in tier I and gateway cities, 26 per cent in leisure destinations, and a significant share from portfolio deals.
The global hospitality group has a diverse portfolio of 168 properties across 17 brands in South Asia and anticipates opening 14 hotels across the region in 2025. Meanwhile, the company stated that the luxury segment is driving demand in South Asia as affluent travellers seek tailored experiences, with a focus on premium amenities, experiences in the destination. Around 75 per cent of the rooms signed in 2024, in South Asia were in the luxury and upper upscale segments, it added.
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