Emaar MGF and Marriott Partner for Four Hotel Projects in India
Emaar MGF Land Limited has partnered with Marriott International Inc. to develop four hotels in India. The project includes hotels in New Delhi, Hyderabad, and Kolkata, joined by a "Courtyard by Marriott" hotel in Amritsar. Emaar MGF's investment in this venture reaches $400 million, accumulating an impressive total of 912 rooms across the properties.
This collaboration isn't Marriott's first foray into the Indian market. The company has previous tie-ups with other major real estate players, such as Raheja and Unitech.
Mr. Shravan Gupta, executive vice chairman and managing director, Emaar MGF Land Limited, said, “This is just the beginning. We are exploring to develop more properties at the same places and others with Marriott”.
The anticipated completion date for these four hotel projects is set for the end of 2010, with the Amritsar establishment slated to open its doors before the others.