Hong Kong – 10th December, 2019: Marriott International, Inc. (NASDAQ: MAR) and Prestige Group, today announced the signing of agreements to open six new hotels across India, underscoring both companies' commitment to expanding in this dynamic country. Under these agreements, Prestige Group would build new hotels bearing the W, JW Marriott, Tribute Portfolio and Moxy brands across India's Southern belt, representing nearly 1,000 rooms.

One of India's largest real estate developers, Prestige Group, plans to build and open the W Bengaluru, Tribute Portfolio Resort Bengaluru, Tribute Portfolio Hotel Kochi Maradu, JW Marriott Bengaluru Prestige Golfshire Resort & Spa, Moxy Chennai and Moxy Bengaluru, all of which are expected to open between 2021 and 2025. 

“This agreement marks a new chapter in our plan to expand in India, a critical growth market for Marriott International where we currently have 120 hotels across 16 brands. We are especially thrilled to have signed two Moxy locations – which will introduce our 17th brand in South Asia,” said Rajeev Menon, President, Asia Pacific (excluding Greater China), Marriott International. “By working with experienced hotel developer Prestige Group, we are confident that together we're poised to change the hospitality landscape in India.”

“There are not many industries in the world that have the resilience and optimism of the hospitality sector in India,” said Irfan Razack, Chairman & Managing Director, Prestige Group.  “The hotel industry has been one of the primary businesses driving the economic growth of the country. Projected to be worth INR 1,210.87 billion by 2023, the Indian hospitality sector today is witnessing an upward trend across mid-scale, upscale and luxury segments. Renewed interest in the sector from leading global investors and steady infrastructure development in metros as well as top cities are driving the demand. The future holds immense promise.”

“The Prestige Group is excited about working together with Marriott to explore new opportunities in the ever-evolving industry. We believe that strategic collaborations with the right partners facilitate dynamic disruptions. Given the improving economic environment and positive market sentiment, there couldn't be a better time to tap into the tremendous growth opportunities that the Indian hospitality industry has to offer. With this signing, the Prestige Group is poised to become one of the largest hospitality players in India,” he added.

Set to debut in India, the Moxy brand targets next-gen Millennial travelers with its fun and playful service, buzzing social spaces, and stylish, tech-forward guest rooms.  Combining style and affordability, this brand is unique in its youthful design aesthetics, thereby bringing a freshness to this space. The 125-room Moxy Chennai and 200-room Moxy Bengaluru are both slated to open in 2024.

Marriott and Prestige Group also expect to open the W Bengaluru in 2025.  With 185 rooms, this hotel will continue to deliver the signature brand promise of Whatever/Whenever and break the norms of 'traditional' luxury with its eclectic offerings. This opening is expected to be India's third W-branded property after W Goa and the anticipated opening of W Mumbai in 2022.

The companies also anticipate the 2022 opening of the JW Marriott Bengaluru Prestige Golfshire Resort & Spa, a 299-room resort, situated a 20-25-minute drive from the Kempegowda International Airport Bengaluru. Inspired by the principle of mindfulness and featuring touchpoints of the brand's intentional and reflective focus, the hotel will be a luxury haven for the sophisticated and mindful traveler with its finely curated programming and intuitive hospitality.

Bounded by their indie spirit, Tribute Portfolio is a family of characterful, independent hotels with captivating design, vibrant social scenes and a sincerity in service that provides a sense of belonging for global travelers and locals alike. The 102-room Tribute Portfolio Resort Bengaluru is expected to open in 2021, and the 32-room Tribute Portfolio Hotel Kochi Maradu is scheduled to open in 2022. These Tribute Portfolio hotels will represent independent, boutique hotels offering travelers a unique blend of character-driven charm, sense of community and captivating design.

Together with the Prestige Group, Marriott International launched its 100th hotel in India in 2018 with the opening of the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center.  Prestige Group also owns the Aloft Bengaluru Cessna Business Park.

Note on Forward-Looking Statements: This news release contains “forward-looking statements” within the meaning of federal securities laws, including the number of lodging properties Marriott may add in the future, the potential for growth in certain markets or sectors  and similar statements concerning possible future events or expectations that are not historical facts.  We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance property growth and refurbishment; and other risk factors that Marriott  identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q.  Any of these factors could cause actual results to differ materially from the expectations we express or imply here.  We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,200 properties under 30 leading brands spanning 134 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company now offers one travel program, Marriott Bonvoy™, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

About Prestige Group

Prestige Group, one of the leading real estate developers in India, has a legacy of over three decades in real estate development. It has diversified business models across the Residential, Office, Retail, and Hospitality segments with operations in 12 key locations in India. The Group has completed 241 projects with developable area of 125 mn sft and has 45 ongoing projects across segments, with total developable area of 49 mn sft. Further, it has 66 mn sft under planning and holds a land bank with potential developable area of over 29 mn sft. The company has been graded CRISIL DA1 by CRISIL and has a credit rating of ICRA A+. The consolidated turnover of the company during FY2018-19 was Rupees 5,284 Crores with operating income of Rupees 1,566 Crores.

Media Contacts
Daryl Pan
Director, Communications, Asia Pacific, Marriott International
Daryl.Pan@Marriott.com

Bernice Chan
Manager, Corporate Communications, Asia Pacific, Marriott International
Bernice.Chan@Marriott.com

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