Latest News | Marriott International Launches Midscale Brand, Partners with CHPL for India Expansion
Get latest articles and stories on Latest News at LatestLY. Marriott International on Thursday announced the global launch of a midscale and upscale lodging segment - Series by Marriott - and joined hands with Concept Hospitality (CHPL) in India to affiliate its flagship brands to expand in India.
Mumbai, May 22 (PTI) Marriott International on Thursday announced the global launch of a midscale and upscale lodging segment - Series by Marriott - and joined hands with Concept Hospitality (CHPL) in India to affiliate its flagship brands to expand in India.
Under the strategic agreement between CHPL and Marriott, CHPL's flagship brands - The Fern, The Fern Residency, and The Fern Habitat - will affiliate with Series by Marriott on an exclusive basis across India and Marriott will make a small equity investment in Concept Hospitality (CHPL), Marriott International President, Asia Pacific excluding China, Rajeev Menon told reporters here.
"We are launching a global soft brand called Series by Marriott," Menon said.
The Fern portfolio currently has 84 operational properties and 31 in the pipeline, totalling 115 properties and with around 8,000 rooms.
"Today, Marriott through 158 hotels is present in 42 cities across the country. Once we are able to bring, you know, many of these Fern hotels into our system, will be represented in around 90 cities across the country. And again, not just where we will be next year, it's where we potentially can be in the next three to five years, where we see the opportunity to scale up with hundreds of more hotels," Menon said.
Fern properties are expected to join Marriott's portfolio in India over time following discussions with the third-party hotel owners and execution of long-term franchise agreements with those owners, Menon said.
CG Hospitality, the hospitality division of the multinational conglomerate CG Corp Global, is the majority stakeholder in CHPL. Established in 1996 by Param Kannampilly, CHPL, is one of India's leading hotel management companies with a portfolio of six brands and over 100 hotels operating in 90 locations.
"India is one of Marriott's most dynamic and strategic markets, making it the ideal launchpad for Series by Marriott. Our founding deal with CHPL allows us to scale purposefully with a trusted local brand that resonates with regional travellers. Launching Series by Marriott in India reflects the region's critical role in our long-term growth strategy," said Menon.
Creating a new, regional collection brand will further Marriott's reach among value-conscious travellers, provide additional choice for our existing Marriott Bonvoy members and guests, and offer more affiliation opportunities for local owners, Anthony Capuano, President and CEO of Marriott International said in a statement.
CG Corp Global Chairman Binod Chaudhary said, "Being part of Series by Marriott will allow us to amplify our reach. The Fern brands are expected to benefit not only from the Marriott Bonvoy loyalty program and global distribution systems, but also from strategic growth opportunities."
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)