Marriott International's vice-president (hotel development - Asia/Pacific), Patrick McCudden told The Financial Express: "There are many projects where, depending upon the case, we could acquire upto 35 per cent equity stake in the hotel project."The company plans to introduce in India other hotel brands owned by it including Renaissance, Ritz-Carlton, Ramada International and Courtyard over the next few years in addition to the flagship brand Marriott.

McCudden was of the view that the economics of investing in hotel properties in India is better than investing in hotel properties in other Asian countries. "The construction cost in India is low, room rates are high, so profits are good. Except that acquiring and servicing debt is difficult", he added.

The company, which had enteredinto management agreements with Delhi-based Ansals for a 222-room five star deluxe hotel and the Rahejas-Hindujas combine for a 371-room five star deluxe hotel in Mumbai, has entered into similar agreements for a 193-room hotel in Goa and a 260-room hotel in Chennai. All the four hotel properties will carry the Marriott brand name but the company will not have any equity stake in the properties.

"The company plans to set up more Marriott properties in the next few years. Besides Delhi, Mumbai and Chennai, we will set up Marriott hotels in Bangalore and Calcutta", said McCudden. The company has signed a memorandum of understanding (MoU) for the Bangalore project and is "looking for a partner in Calcutta".

McCudden said the company has already located a partner for its first Renaissance hotel in Mumbai and expect to formally sign an agreement by the year-end. "We plan to set up Renaissance hotels initially in Mumbai, Delhi, Chennai, Calcutta and Bangalore and will then target other major cities", he added.The company has plans to set up two Ritz-Carlton, its luxury brand, hotel properties in Delhi and Mumbai and expects to sign an agreement with partners soon.

McCudden, however, refused to name the partners for any of its hotel properties. "We are primarily a company which has competency in managing hotel properties. We also make more money through management contracts than by a franchise agreement", added McCudden However, the company has entered into a franchisee agreement in the case of two hotels, one each in Mumbai and Hyderabad, under the Ramada brand name.