CG Hospitality, Marriott enter hotel joint venture
Nepal-based CG Hospitality Global, the group behind the renowned wellness resort The Farm at San Benito in Batangas, has sealed a fresh deal with hospitality giant Marriott International that can help strengthen its visibility in the hotel industry.
In a joint statement, both groups said they would collaborate anew for the global launch of “Series by Marriott,” with the brand’s focus set initially on the Indian market.
The Series by Marriott is designed for the midscale and upscale hotel segments.
The agreement covers Concept Hospitality Private Limited’s (CHPL) hotel brands—The Fern, The Fern Residency and The Fern Habitat—which would be integrated into Marriott’s global ecosystem.
Marriott will also have an equity investment in CHPL. However, no additional details were provided on this part of the agreement.
Following the transaction, Marriott’s portfolio in India would be expanded by about 6,000 rooms.
The Fern brands are also expected to get a boost from Marriott’s distribution platforms and digital systems.
CHPL, with CG Hospitality holding a majority stake in the company, operates more than 120 hotels in 90 cities. Forty more properties are in the pipeline.
Target expansion
Rahul Chaudhary, managing director and CEO of CG Corp Global & CG Hospitality Holdings, said the group would pursue its target of growing The Fern brand to 500 hotels by 2030.
“[We’re] making The Fern brands the biggest in this segment in India, while expanding CG Hospitality’s footprint to 650 hotels globally. Marriott’s global scale, trust and loyalty ecosystem will be a powerful catalyst in achieving this ambitious vision,” he said.
Anthony Capuano, president and CEO of Marriott International, meanwhile, hoped to bring the collection to other foreign markets.
“We see this multi-unit conversion deal as a strong foundation as we look to accelerate growth of the Series by Marriott collection in additional markets around the world,” Capuano said.
The Farm at San Benito was recently included in Marriott International’s Autograph Collection, the first in the Philippines.
