New Delhi, May 22 -- US hospitality chain Marriott International Inc. has acquired a minority stake in India's Concept Hospitality, which operates brands like the Fern Hotels and Resorts, to launch a new hotel series, it announced on Thursday.

It will first integrate The Fern into its new brand and could later include the Concept's other brands as well. The Mumbai-based company, which has 84 operational hotels, 31 hotels in the pipeline, and 8,000 rooms in total, will continue to manage these hotels.

Mint first reported in April that the US hospitality giant had earmarked about $15 million for the deal and valued Concept Hospitality at $100 million.

Concept Hospitality-backed by the Nepalese multinational CG Corp Global, which also own...