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2 stories · First covered Mar 19, 2026 · Latest Mar 24
ICRA Coverage
Marriott Signed 99 Deals in India Last Year. The Per-Key Math Tells a Different Story.

Marriott Signed 99 Deals in India Last Year. The Per-Key Math Tells a Different Story.

Marriott's record 99-deal year in India adds 12,000 rooms to a pipeline that already holds 27,000. The headline is impressive until you decompose what 143% deal growth actually means for per-key economics in a market where supply is about to catch demand.

Wyndham's India Bet: 55 Hotels, Double the Rooms, and a Per-Key Math Problem

Wyndham's India Bet: 55 Hotels, Double the Rooms, and a Per-Key Math Problem

Wyndham wants to double its India footprint to 150 properties and shift to larger-format hotels. The growth story is compelling. The franchise economics deserve a closer look.