Thirty Years of Luxury: Viceroy Hotels and Marriott Forge a Hospitality Powerhouse in Hyderabad

Viceroy Hotels Ltd has unveiled a historic operating agreement with Marriott India, renewing their association for as long as 30 years and bringing a new dawn to Hyderabad's luxury hospitality industry.

Highlights:

Long-Term Association:
The new operating agreement with Marriott India commits Marriott's management of Viceroy's flagship hotels-including the Marriott and Courtyard by Marriott in Hyderabad-for as long as three decades, maintaining global standards and brand consistency.

Extensive Renovation and Expansion:
Viceroy Hotels is investing more than ₹100 crore in a multi-stage renovation and expansion strategy. Some of the major upgrades are 56 new rooms for guests, a spa and gym facility with the latest technology, and a rooftop bar with a pool at the Courtyard by Marriott. The Marriott will have all 295 rooms revamped, a convention centre enlarged to 15,000 sq. ft., and new upscale F&B outlets.

Financial Support and Expansion:
The recent capital injection and restructuring plan of the company, supported by AAFL Group's Loko Hospitality, have amplified its financial strength, underpinning these ambitious refurbishments and the extended Marriott alliance.

Operational Excellence:
Refurbishments are phased cautiously to avoid disruption, most of it planned in off-peak periods. Management anticipates these upgrades to lift average daily rates (ADR) to ₹9,500–₹10,500, par with Hyderabad's best-in-class hospitality standards.

Shareholder and Market Impact:
The deal and expansion announce Viceroy's growth agenda anew after restructuring, with ambitions to turn its properties into top-of-the-line destinations in Asia's hospitality scene.

This 30-year partnership with Marriott represents a turning point for Viceroy Hotels, which promises global-class experience for patrons and strong value for shareholders.

Source: Viceroy Hotels Investor Presentation, Earnings Call, EGM Notice

STORIES YOU MAY LIKE

Pidilite’s ₹20 Dividend Sticks Out-But Can It Hold Together Amid Q4 Profit Miss?

Gas Games Begin: Inside the Covert US-Russia Push to Bring Kremlin Fuel Back to Europe

Growth Engine Revved: HEC Infra Projects Bags ₹137.8 Million-Investors Take Note!