Manglam Group commits ₹350 cr to 220-key Sheraton Jaipur, third Marriott tie-up
Jaipur-based developer Manglam Group is partnering Marriott to build a 220-key Sheraton hotel on a 3 lakh sq ft site in Jaipur for ₹350 crore. The Sheraton is its third Marriott property, following a 150-room Westin and 200-key serviced apartments, anchoring a ₹1,000 crore hospitality roadmap over five years across a 62 million sq ft portfolio.
What happened
Manglam Group partners Marriott to develop a 220-key Sheraton hotel in Jaipur with Rs 350 crore investment, its third Marriott tie-up, part of a Rs 1,000 crore
Key facts
- Rs 350 crore
- 220 keys
- 3 lakh sq ft
- Rs 1,000 crore
- 150-room Westin
- 200-key serviced apartments
- 62 million sq ft
Why this matters
A third Marriott tie-up after Westin and serviced apartments cements Manglam as a preferred India franchisee, raising the bar for rival developers seeking Sheraton or Westin keys in Tier-1 leisure markets.
What to watch
- Manglam announcement of fourth Marriott or competing brand tie-up
- Jaipur RevPAR data showing supply pressure or continued premium pricing power
- Marriott India signaling franchise vs managed split shifts on new signings
- Rajasthan tourism policy incentives or wedding-tourism infrastructure spends
- Manglam capital raise, REIT exploration, or hospitality SPV carve-out
- Map Jaipur premium hotel pipeline (Marriott, IHG, Taj, ITC) to quantify 2027-28 supply absorption risk
- Track Manglam's debt profile and project financing structure for the ₹1,000 cr roadmap
- Identify which Manglam land parcels in 62M sqft portfolio are earmarked for next hospitality flags
- Benchmark Westin Jaipur occupancy/ADR ramp as proxy for Sheraton underwriting