Prestige Estates signs deal with Marriott for six hotels – Industry News
Bengaluru-based developer Prestige Estates Projects and global hotel company Marriott International have signed an agreement to develop six hotel projects in the country.
The hotels will be developed in the next two to five years, said Zaid Sadiq, executive director, hospitality, at Prestige Estates.
“The total inventory will be 801 keys across Goa and Karnataka and Marriott is launching some of the new brands in the country with Prestige,” Sadiq said.
The hotel properties include 177 key Marriott Executive Apartments in UB City in Bengaluru, 130 key Moxy Bengaluru ORR in Outer Ring Road, Bengaluru, 152 key Bengaluru Marriott Hotel South in Kanakapura Road, Bengaluru, 62 key Tribute Portfolio Dabolim Hotel in Dabolim in Goa, 120 key Autograph Collection in Chopdem , Goa, 160 key JW Marriott Sakleshpur Plantation Resort in Sakleshpur in Karnataka.
“The total investment will be around Rs 1000 crore,” Sadiq said.
Moxy targets millennial travelers and is designed for affordable luxury under the Marriott brand. Marriott launched Moxy in the country earlier this year, with the Moxy Bengaluru Airport Prestige Tech Cloud.
“The autograph collection in Goa is the first autograph collection in South Asia,” Sadiq said.
Prestige currently has 10 hospitality projects under its belt, with 1,489 keys.
Marriott International expects to open 14 hotels in South Asia this year, 12 of which will be in India, adding nearly 1,200 rooms to the hotel chain’s existing portfolio in the country. The company operates 148 hotels in India.