JW Marriott opens Bangalore hotel, has big plans for India
26 September 2013
International luxury hotel group,JW Marriott Hotels & Resorts will add an additional 10,000 rooms in India by 2016-17, as the company has close to 47 projects in the pipeline, the hotelier said in Bangalore on Wednesday.
Speaking at the launch of the first Marriott hotel in Bangalore, Rajeev Menon, vice president for South Asia, said that the company's new hotel at Delhi Airport (Aero city) is next in line for opening.
The Bangalore venture carries a total investment of around Rs750 crore. "A normal JW property would cost around Rs1.5 crore per key (room), but this property has cost us around Rs2 crore per key. The main investment is land and it is very expensive," The Advantage Raheja Group chairman Deepak Raheja, whose company is JW's partner for the Bangalore venture, told reporters at a launch event.
The company would be also bringing its 7th brand, Ritz Carlton, slated to open later this year in Bangalore. ''We now have 20 operating hotels in five different bands across the country, with an active pipeline of another 47 hotels under construction,'' Menon said.
He added that they are also looking to open an additional 1,000 rooms in the city alone.
The company which currently has around over 5,000 rooms in the country will increase this to over 6,000 by the year-end. With the 47 projects, the group is likely to have another 10,000 rooms by 2016-17.
On when the company expects to break even, Menon said, ''By second or third month we will be cash-positive operationally.''
Raheja said that the 2.5 acre land where the property stands today was bought at around Rs55 crore.
Located at the prime location in the city, the JW Marriott Bengaluru is a luxury 5-star property that features 297 rooms and suites, including an ultra-luxurious presidential suite.
The hotel on Vittal Mallya Road in UB city is owned by The Advantage Raheja Group and will be managed by Marriott International Inc under the brand JW Marriott.