Mumbai, March 3 — Marriott International announced today that it signed 42 deals in 2024, adding 7,000 rooms to its portfolio across South Asia, including India. The hospitality giant highlighted robust growth in the region, with significant revenue increases and promising projections for the future.
In a statement, Marriott revealed that South Asia achieved an impressive full-year performance in 2024, with a remarkable 11% growth in revenue per available room (RevPAR), driven by increases in both average daily rates (ADR) and occupancy rates. Key metropolitan markets such as Hyderabad, Gurugram, Bengaluru, and Mumbai were particularly pivotal in boosting ADR figures.
Anthony Capuano, President and CEO of Marriott International, expressed his enthusiasm about the region’s performance: “We had a record-breaking year in 2024, with unprecedented signings and strong business performance in South Asia, underscoring the region's immense growth potential. With a robust pipeline of openings, we remain committed to driving economic impact, creating job opportunities, and supporting local economies.”
As Marriott continues to expand its diverse brand portfolio, the company is also placing a strong emphasis on meeting the evolving needs of travelers. Capuano further added that Marriott's expansion into new tertiary markets and its enhanced Marriott Bonvoy travel platform were key elements of the company’s strategy to offer exceptional experiences to customers.
Marriott’s 2024 pipeline highlights a balanced and diversified growth strategy, with 50% of the new rooms being located in tier I and gateway cities, 26% in leisure destinations, and a notable portion coming from portfolio deals. The company currently operates 168 properties across 17 brands in South Asia and expects to open 14 new hotels in the region by 2025.
The luxury travel segment, in particular, has been a driving force behind demand in South Asia, as affluent travelers seek tailored experiences, premium amenities, and unique destination offerings. Marriott noted that 75% of the rooms signed in 2024 in South Asia were within the luxury and upper upscale segments.
With the continued growth of the region’s hospitality sector, Marriott International remains poised to strengthen its presence and contribute to the local economies in the years to come.