Radisson Hotel Group has strategically positioned its hotels within every four hours of driving distance in India, as stated by a senior official. Moving forward, the esteemed hospitality chain aims for an even more extensive network, targeting a property within every two hours of driving distance.
Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, announced that the company signed 21 new hotels in India last year, encompassing locations like Jhansi and Sonipat. Now, the plan is to continue this momentum by signing approximately 30 hotels each year in the country for the next five years.
Over the upcoming five years, India is poised to witness an unprecedented phase of expansion from global chains like Marriott, Hilton, IHG, and Wyndham. CEOs, regional heads, and industry insiders express their utmost confidence, asserting that this represents the most optimistic outlook they’ve ever held.
Younes stated, “Presently, 50% of our properties are located in tier-two and three cities in India, and we are actively leading the expansion in these markets.” “Inflation rates in India have remained relatively moderate in comparison to global standards, fostering a greater sense of optimism for new hotel developments here,” he continued. On the other hand, there is noticeably less new hotel development in developed markets like Germany, France, and the UK.
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Rajeev Menon, President of Asia Pacific excluding China at Marriott International, disclosed that Marriott is set to inaugurate its 150th hotel in Katra next month. He expressed the company’s ambition to reach 250 operating hotels within the next five years, amounting to approximately 50,000 rooms.
On Wednesday, Marriott inked a fresh agreement for a JW Marriott Resort & Spa hotel in Alibag, alongside a recent deal for a Ritz Carlton in Jaipur a few weeks prior.
Shawn Hill, Chief Development Officer for Asia Pacific (excluding greater China) at Marriott, asserted that this represents the most robust growth in the pipeline to date. He emphasized, “We anticipate setting all-time high signing records in India this year.”
Hilton also affirmed that 2024 will mark its most formidable year in India to date, with plans to inaugurate and finalize agreements for more hotels than ever before. Alan Watts, APAC President at Hilton, highlighted, “India’s growth trajectory and macroeconomic strength as the world’s fifth largest economy present Hilton with substantial opportunities to expand our footprint in emerging cities and markets and diversify our brand portfolio.”
“We currently have 26 hotels in operation across India, with an additional 20 in the pipeline. Among these, 4 to 6 are slated to open this year, contributing 500 keys to our portfolio in 2024 and 1,500 keys by 2026,” he remarked. “With this momentum, we are poised to expand our India estate threefold, reaching 75 hotels by 2027.”
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According to Manav Thadani, founder chairman of hospitality consultancy firm Hotelivate, there is a scarcity of hotel rooms in India, and global hotel chains appear to be striking considerably more deals than previously observed.
Sudeep Jain, Managing Director for South-West Asia at IHG Hotels & Resorts, expressed that the industry is currently experiencing its most optimistic outlook. “Every hotel company, including IHG, is thriving. Demand is expected to surpass supply in India in the near future, as it remains one of the least penetrated markets,” he stated. “Currently, we have 50 operating hotels and over 60 in the pipeline.”
Dimitris Manikis, President of Europe, Middle East, Eurasia, and Africa at Wyndham Hotels & Resorts, announced that Wyndham plans to inaugurate 150 hotels in India by the end of 2025. Presently, the company operates 62 hotels and is set to open an additional 14-15 hotels within the current year.
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