Marriott To Expand in India
Number of hotel rooms, entire country of India: 100,000
From today's NY Times:
"Marriott International Inc., the top U.S. hotel operator, said today it would more than triple its hotel portfolio in India by the end of 2010 as it cashes in on rising business and leisure travel. Marriott, which manages nearly 2,900 hotels under brands including Ritz-Carlton and Residence Inn, will manage 21 properties by 2010 in India's underserved market (Marriott Mumbai pictured above)."
From today's Hindustan Times:
"The Marriott properties in India will cut across Mumbai, Goa, Hyderabad, Chennai, Bangalore, Gurgaon, Noida, Kolkata, Ahmedabad and Pune. In all, the 21 properties will offer 5,222 rooms. The idea is to cater to all kinds of demands, both from customers within India as well as from other countries."
Bottom Line: As globalization and outsourcing increase India's income and standard of living, its demand for U.S. products and services increases. Exhibit A: Marriott's expansion in India.