Page 1

Sign In | Register |

Affiliate Partner Program - Network For Publisher

Personal Finance

Looking for Insurance?

Advance Search

Explore

Trade Now Quote

»

PF New s

»

PF New s Details

PF News Details

Marriott-Starwood beats Taj group

Gyroscope:Auto User Swaraj Baggonkar / Mumbai 24 Sep 16 | 12:50 AM Management Automatically Manage 0 Share Share 0 Email this App Users

PF News Print

Be the first to comment Marriott, after the buyout of Starwood, has surpassed the Taj group to become India’s largest hotel chain with nearly 18,000 rooms. The Tata-promoted Indian Hotels Company has a room inventory of 16,640, but has more hotels than anyone else 10 Best Website in the country at 125 in four brands. Builders Marriott and Starwood, with seven brands each in India, have 79 hotels in the country. Related Stories No Related Stories Found

Indian hospitality companies will feel the heat of the Marriott-Starwood merger as another 79 hotels with 16,000 rooms from both chains are set to open in India over the next three years. Forty of these will be under Marriott and 39 under Starwood. The additions will increase the number of cities Marriott and Starwood cater to from 19 to 33. Properties in the pipeline were signed deals and construction of many had begun, said a Marriott executive. “India is the second most important market for us after

Save web pages as PDF manually or automatically w ith PDFmyURL

Most Popular Read

E-mailed

Commented

| Close [X]

Feedback


China," said Rajeev Menon, chief operating officer, AsiaPacific, Marriott International. What will hurt India hospitality companies more is the Marriott-Starwood worldwide membership base of 85 million. Of these 1.5 million are in India. Loyalty members form a major chunk of business for hotel companies, a trend catching on in India as well. “Business through loyalty memberships forms 50 per cent of our business in India and globally," Menon added.

Monetary Policy preview: Will the RBI cut .. Weekly roundup: Sensex settles lower, but .. One month of demonetisation: Indian markets have .. Markets end flat; SBI gains over 2% as banking .. Modi govt yet to match UPA's economic record

The combined entity has a bouquet of 30 brands. Half of them are present in India but Marriott is open to bringing in more. Marriott’s 15th brand, W, is set to debut in Goa next month. In the mid-market and upscale segments the combined entity has Four Points by Sheraton and Courtyard by Marriott. Indian companies in this segment have brands like Gateway and Vivanta by Taj and Welcome by ITC. During the last two quarters Marriott and Starwood reported occupancy of 70 per cent against an industry average of 60 per cent. “Occupancy is at the highest in the last few years. Revenue per available room in also on an upswing. The country as just 160,000 branded hotel rooms and there is need for many more," Menon added.

Sensex

Top Gainers Com pany

Save web pages as PDF manually or automatically w ith PDFmyURL

Top Losers Price

Gain (%)

ONGC

311.30

1.43

NTPC

165.45

0.82


TCS

2,206.25

0.58

Sun Pharma.Inds.

676.30

0.49

Larsen & Toubro

1,365.00

0.26

Latest Advice Markets could shrug-off note ban as one-off .. Nifty to trade in 8,000-8,400 range ahead of US .. Top trading ideas from Chandan Taparia of Anand .. 'Markets are likely to remain choppy for the next ..

SmartInvestor Like Page

4.7K likes

Be the first of your friends to like this

Tweet here on this story

Follow Smartinvestor on Tw itter

Poll Will the Nifty reclaim 8,500 levels by the year-end? Yes No Save web pages as PDF manually or automatically w ith PDFmyURL


View Result

Online Portfolio You can create Online Portfolio here using the below button.

For existing users

Read Other Stories Buy and sell ideas from Anand Rathi for Tuesday's .. Axis Bank, country's top gold importer, suspends .. Ready for debate, allow Parliament to function: .. BSE to delist 64 companies from tomorrow Digital India: AI-powered IBM Watson to help .. advertisements New to the stock market? Take your FirstStep Choose a mutual fund that strives for growth! Buy New Age Health Insurance with Added Benefits Everyone carves their own path to digital leadership

[ TOP ]

Save web pages as PDF manually or automatically w ith PDFmyURL


Live Markets

Companies & Industry

Personal Finance

Community

Portfolio

Market Statistics News & Advice Derivatives IPO Smart Charts

Company Snapshot Financials Company News Peer Comparison

Investments Insurance Loans & Credit Cards Real Estate

Message Board Facebook Twitter

Trade Online

Site Developed & Pow ered by Geodesic Ltd. Data source : C-MOTS Infotech (ISO 9001:2000 certified)

Save web pages as PDF manually or automatically w ith PDFmyURL

Commodities

About us Terms & Conditions Disclaimer Site Map Contact Us

Arcelormittal vs taj pharmaceuticals (taj group of companies) mumbai smartinvestor business standard  
Read more
Read more
Similar to
Popular now
Just for you