When Marriott International introduced its newest global brand — Series by Marriott — it chose India as the launch market and took the unusual step of making an equity investment in its local partner, Mumbai-based Concept Hospitality.
Rajeev Menon said “You could say it.” When asked if this was the first equity investment by Marriott International in the Indian hospitality sector, he replied, “You can say that.” Marriott will only make investments for strategic reasons. “We see this opportunity as very unique.”
This is a significant move by the hotel giant. It has traditionally expanded through franchises and management contracts, and launches its brands in Western markets.
Menon said, “In the 24 years I’ve worked at Marriott, we have rarely made investments.” “So you understand that it is difficult to make investments,” said Menon.
