Signed by a trading company with Indian Concept Hospitality Private Limited to partner with Marriott series Fern Brand
Marriott International, Inc. (NASDAQ:MAR) today announced the global launch of its new collection brands for midscale and luxury accommodation. The Marriott series is expected to expand Marriott's global presence by bringing brands and hotels created in established regions that advocate for consistent quality and service to the Marriott Bonvoy portfolio. The Marriott series offers a comfortable stay in more locations and gives local owners access to the benefits of the Marriott platform.
The Marriott series marks its first launch through a founding agreement with India's main growth market, India's Concept Hospitality Private Limited (CHPL). Founded in 1996 by CHPL's Param Kannampilly, it is one of India's leading hotel management companies with a portfolio of six brands and over 100 hotels operating in 90 locations. Under the CHPL and Marriott strategic agreement, CHPL's flagship brands, Fern, Fern Residency and Fern Habitat, will partner with the Marriott series exclusively by India and Marriott. The Fern Portfolio currently consists of 84 open properties and 31 run pipeline transactions, a total of 115 properties and approximately 8,000 rooms. Fern's real estate is expected to join the Marriott India portfolio over time, following discussion with third-party hotel owners and implementation of long-term franchise agreements with those owners. CG Hospitality, the hospitality division of multinational conglomerate CG Corp Global, is a majority stakeholder of CHPL.
“We're committed to providing a great opportunity to help you,” said Anthony Capuano, president and CEO of Marriott International. “By creating a new regional collection brand, Marriott will reach even more among value-conscious travelers, providing additional options for existing Marriott Bonboy members and guests, and providing more affiliation opportunities for local owners.
“We are excited to launch a series by Marriott through our founding agreement with CHPL. This transaction will help significantly expand Marriott's major position in India, a key market for the company. The spirit of the series by the Marriott brand,” Capuano said.
“Through a majority investment in CHPL, we have nurtured the Fern brand as a standard bearer of India's environmentally sensitive and quality hospitality. Being part of a series by Marriott allows us to amplify our reach.
“We are excited to partner with the world's largest hospitality companies as we drive a new era of growth in India's mid-scale segment. Our vision is to unlock the immense possibilities of Tier 2 and Tier 3 cities. Paraman Kannampirie, chairman of Concept Hospitality Private Limited, said:
A set of hotels: created in the region and connected globally
The Marriott series is designed to provide a simple and friendly experience for travelers with a focus on fundamentals and well-executed fundamentals. The portfolio hotels offer quality and value with clean and comfortable rooms, free Wi-Fi, daily coffee or tea, breakfast, fitness centre, meetings and event space available for specific properties. The hotel reflects the regions and customers they serve, while providing global standards for Marriott's safety and cleanliness. As part of the Marriott Bonvoy Loyalty Program, members staying in the Marriott Properties series will be able to earn points, redeem and enjoy member perks.
Occupations for global growth for owners
The series by Marriott was created to bring strong regionally relevant brands and hotels into the Marriott portfolio, with industry-leading revenue generation capabilities and cost-belonging structures. The owners will be able to retain the independent identity of their portfolio, taking advantage of the power of the Marriott Bonvoy Loyalty Program, which has attracted nearly 237 million members globally, and will acquire digital platforms such as the Marriott.com and the Marriott Bonvoy mobile app and generate direct bookings.
In addition to its establishment agreement with CHPL, Marriott has also been actively discussing the Marriott brand series with owners in the US, Caribbean, Latin America, Europe, the Middle East and Africa.
Click here to learn more about the Marriott series.
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