Chalet Hotels Ltd and Marriott Intl scale up partnership with 5 new contracts
The hospitality giants sign agreements for 1,500+ Keys in luxury and upper-upscale hotel tiers
Chalet Hotels Limited (Chalet) has entered into five new agreements extending their collaboration with Marriott International Inc. Under the agreement, Chalet would build hotels & extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad & Mumbai.
· ‘The Westin Hyderabad Hitec City’, an upcoming ~170 keys property and expected to be commissioned in 2020
· ‘The Westin Hyderabad Mindspace’ (427 keys) a new contract continuing with the existing brand
· ‘W Mumbai Powai Lake’, an upcoming ~150 keys property in Powai Mumbai which is expected to be ready in 2023
· ‘The Westin Mumbai Powai Lake’ (600 keys) which is a new contract with ‘brand conversion’ for Renaissance Mumbai Convention Centre and Hotel
· ‘Lakeside Chalet, Mumbai – Marriott Executive Apartments’ (173 keys) a new contract continuing with the existing brand
This, one of the largest ever deals signed in the Luxury and Upper-upscale hotel tier in India, leverages historical synergies between Chalet and Marriott International. The 1500+ keys come at a time when the demand and supply arbitrage is favorable for the industry, providing exciting growth opportunities for both companies.
Speaking about the announcement, Mr. Sanjay Sethi, MD and CEO, Chalet Hotels Ltd. said, “We are happy to end 2019 on a high note. These agreements fortify our two-decade long relationship with Marriott.
Mr. Sanjay Sethi, MD & CEO(Left) & Mr. Kiran Andicot, Hotel Development - South Asia, Marriott International
We are upgrading and repositioning the Renaissance complex in Powai, Mumbai which will establish a new identity as a ‘Westin’. We are also excited about developing a ‘W’ at the same location. Our expansion in the gateway cities of India has led us to add another ‘Westin’ in the city of Hyderabad taking the total inventory of Chalet to approximately 600 keys in the city. This collaboration bolsters our offerings in demand-dense markets with significant upsurge in Grade-A office supply and absorption.”