Manglam Group is betting $42 million on a Sheraton in Jaipur, and the per-key cost looks reasonable until you start thinking about what a management contract with Marriott actually costs an Indian owner over 20 years.
Marriott just announced its Q1 2026 earnings date, and Wall Street is focused on the EPS beat. But if you're an owner writing checks for PIP compliance and tech mandates, the number that should keep you up at night is the billion dollars they're spending to rebuild the technology stack you'll eventually be required to adopt.
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