Marriott launches 'Series by Marriot' brand, taps Indian growth with Fern deal
Marriott, the largest hotel chain in the world, is expanding its already-large Indian presence, as it sees big growth opportunities in the country set to become the third largest economy in the coming years.
On Thursday, Marriott International announced the global launch of its new brand for the mid-scale and upscale lodging segments: Series by Marriott.
Series by Marriott is expected to expand Marriott’s global presence by incorporating well-established, regionally created brands and hotels into the Marriott Bonvoy portfolio.
Marking the initial launch of the new brand, Marriott has inked an agreement with Concept Hospitality, under which Concept's flagship hospitality brands— The Fern, The Fern Residency and The Fern Habitat — will be affiliated with Series by Marriott on an exclusive basis across India.
Marriott will also be making a small equity investment in Concept Hospitality, about which the company did not disclose any details.
"This deal will help meaningfully expand Marriott’s leading position in India, a key market for the company," said Anthony Capuano, President and CEO of Marriott International.
The Fern portfolio currently comprises 84 operational properties, with 31 more in the pipeline, totalling about 115 properties and around 8,000 rooms.
Marriott's portfolio currently encompasses 9,500 properties across 30 brands in 144 countries. In India, Marriott operates 158 hotels, with another 112 hotels under construction.
"As India transitions towards becoming the third largest economy in the world, with significant growth across the middle class segment particularly, our collective aim is to scale up the growth of The Fern brand affiliated with Series by Marriott across the country," said Rajeev Menon, president, Asia Pacific (excluding China), Marriott International.
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"Series by Marriott is set to elevate our presence across India, particularly the rapidly growing Tier 2, Tier 3 cities and other emerging destinations that are actually brimming with potential and fast becoming the hubs for tourism, business and culture," he added.
Fern properties are expected to join Marriott’s portfolio in India over time, following discussions with third-party hotel owners as well as the execution of long-term franchise agreements with those owners, said Marriott.
Series by Marriott will offer guests comfortable stays in more places and provide regional owners access to the benefits of Marriott’s platforms, including the company’s Marriott Bonvoy loyalty program, while maintaining their portfolio’s independent identity, it clarified.
"We see this multi-unit conversion deal as a strong foundation, as we look to accelerate growth of the Series by Marriott collection in additional markets around the world," Capuano stated.
It must be noted that Concept Hospitality will continue to operate the Fern brand hotels after the affiliation too.
"This strategic collaboration underscores our commitment to expanding access to quality hospitality, fostering local economies, and meeting the rising demand for sustainable, comfortable, and accessible stays in emerging markets,” said Param Kannampilly, Chairman, Concept Hospitality.
In addition to this deal with Concept Hospitality, Marriott also announced that it was actively seeking Series by Marriott collaborations with hotel owners in the US, Caribbean, Latin America, Europe, Middle East and Africa.
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