DALLAS-BASED NEWCRESTIMAGE is continuing its $2 billion expansion plan by building its first hotel in India. The 14-floor, 123-room Courtyard by Marriott in Vadodara, India, is expected to open in March of 2021.
Mehul Patel, chairman and CEO of NewcrestImage, said it will be the first Marriott hotel in the city of 4 million people in the western state of Gujarat.
“With India’s hotel market growing at a compounded annual rate of about 13 percent, there is robust demand by both business and leisure travelers, especially in the mid-market segment,” Patel said.
The Vadodara hotel will feature a restaurant with private dining areas, an outdoor swimming pool, a 30-car underground parking garage and 13,000 square feet of meeting space.
At last year’s Hotel Investment Conference South Asia sponsored by Hotelivate in Mumbai, India, several leaders of top U.S.-based hotel companies, including Marriott International’s President and CEO Arne Sorenson, attended.
Marriott had just opened its 100th hotel in India at the time and planned to expand its presence in the country.
“Marriott expects to open more than 50 new hotels in India and raise inventory to more than 30,000 rooms over the next few years, thanks to demand for mid-market hotels,” the company said in a statement. “Demand is also growing for Marriott’s upscale and luxury brands; the company, for instance, currently has three Ritz-Carlton projects under development in Pune, Mumbai and New Delhi.”
Courtyard is a strong brand for the market, said NewcrestImage’s Chief Operating Officer for Construction Finance Daxesh Patel who is leading the Vadodara project.
“In India, American brands have a solid reputation for value and quality, so our Courtyard property can effectively build a special identity for ultra-comfortable accommodations, distinctive amenities, desirable meeting facilities, and superb service – all delivered at an attractive price,” said Daxesh.
NewcrestImage currently operates in 10 states with 32 owned and managed hotels plus another 18 properties under construction or in development. The company, based in the Dallas suburb of Lewisville, also announced plans to build a new headquarters in nearby Grapevine, Texas, in September.