Marriott International Set to Invest in Concept Hospitality

Marriott Aims to Grow Its India Portfolio to 50,000 Rooms and 250-300 Properties Over the Next 3-5 Years

- Varuni Khosla

As hotel businesses rush to add more rooms and hotel inventory, Marriott International, the company behind hotels like JW Marriott, Westin, W and other brands, will invest a significant stake in Mumbai-based Concept Hospitality.

The three-decade-old company manages around 125 hotels in India and operates under six brands, including The Fern and The Zinc, through a joint venture with CG Hospitality Global. Nepali billionaire Binod Chaudhary's CG group owns a majority stake in Concept. The group is primarily known for Wai Wai Noodles brand. It is expected to be Marriott International's first direct investment in India.

It has earmarked around $15 million for this, those in the know told Mint. The firm has been valued at $100 million. At least five people have confirmed the development.