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By Author
Published on March 1, 2024
Marriott International, Inc. is set to significantly bolster its presence in South Asia with the announcement of 28 new deals, signalling a robust expansion strategy that will introduce over 4,600 rooms across the region by the end of 2024. This ambitious growth plan not only reaffirms Marriott's commitment to South Asia but also highlights the region's burgeoning potential within the global travel and tourism landscape.
Rajeev Menon, President of Asia Pacific excluding China for Marriott International, underscored the initiative's alignment with the dynamic expansion of the travel sector in South Asia. "Our strategic expansion in South Asia solidifies our commitment to accentuating the strong growth within the region's travel and tourism sector," Menon stated, emphasising the diverse brand portfolio and the award-winning Marriott Bonvoy program as key drivers of this growth.
In a move that reflects the evolving preferences of today's travellers for high-quality service and immersive experiences, 77 percent of the rooms signed in 2023 fall within the Luxury and Premium segments. This strategic focus is evidenced by the planned debut of iconic brands such as The Ritz-Carlton in Shimla and the JW Marriott in Bangladesh and India, enhancing Marriott's luxury offerings in sought-after leisure destinations.
Kiran Andicot, Regional Vice President Development for South Asia at Marriott International, highlighted the significance of entering new markets and capitalising on key urban and resort destinations. "Our focus remains on capitalising on opportunities in key gateway cities, strategic commercial centres, and sought-after resort destinations throughout the region," Andicot remarked, pointing to the introduction of Marriott's portfolio in emerging destinations as a testament to its commitment to delivering unparalleled guest experiences.
The company's expansion strategy also includes a strong emphasis on the Select service segment, which caters to the demand for stylish, smart, and affordable hospitality options. Brands like Courtyard by Marriott and Fairfield by Marriott are expected to represent approximately 45 percent of the new openings in the next four years, marking significant growth across India.
As Marriott International gears up to expand its footprint in South Asia, the company's existing portfolio of 160 operating properties across 17 distinct brands stands as a testament to its diverse offerings and commitment to excellence in hospitality. With the addition of new properties, Marriott continues to pave the way for innovative and differentiated experiences for travellers across the globe.
This expansion comes at a time when South Asia's tourism sector is poised for rapid recovery and growth. Experts, including Prof Haiyan Song of PATA and Hong Kong Polytechnic University, project a significant increase in visitor arrivals by 2026, further underscoring the region's appeal as a premier travel destination. Marriott International's strategic investments in South Asia not only contribute to this positive trajectory but also reinforce its position as a leader in the global hospitality industry.
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By Nishang Narayan
Published on July 5, 2025
Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.
The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.
As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.
Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.
Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.
Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.
Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.
Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”
The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.
As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.
Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.
Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.
Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”
The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”
Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.
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