Fortune Park Hotels To Add Five Hotels In India By December 2022

Fortune Park Hotels, a member of ITC's hotel group, will be opening five properties with over 375 rooms in India by the end of next year, as part of its robust expansion plans in the country.

The company has 38 operating hotels with around 2,900 rooms across 34 cities of India.

"Apart from opening 5 hotels with over 375 rooms across 4 cities of India from our active pipeline by the end of December 2022, we are also in advanced negotiations for a few more projects, some of which are anticipated to open before the end of next year," Fortune Park Hotels MD Samir MC told PTI.

These five hotels will be -- Fortune Resort Benaulim Goa, Fortune Park in Hoshiarpur (Punjab), Fortune Park in Tirupur (Tamil Nadu), Fortune Select in Goa and a Fortune Inn in Haldwani (Uttarakhand), he added.

When asked about the business model the company follows, Samir said, "While our primary model is currently on managed hotels, we continue evaluating different operating models including franchise model."

About the segments the company is in, he said, Fortune Park Hotels was set up in 1995 to cater to the mid-market to upscale market segment in business and leisure destinations.

It has clearly defined sub-brands -- Fortune Select, Fortune Park, Fortune Inn and Fortune Resort -- under which the hotels are being operated by the chain.

"Our portfolio mix comprises 30 per cent hotels in the leisure space and the rest are business hotels or mixed use. With domestic tourism opening up and the world looking to find unique ways to holiday, our focus on leisure has grown. Most of our future expansion is set around pilgrim and tourist locations and we see a big opportunity in this space," Samir said.

Besides this, the company would continue with ramping up of the portfolio of its business hotels, he added.

When asked about the business climate for the hospitality sector in the country going forward, Samir said, "With successful vaccination drives and the third wave currently at bay, future business looks optimistic and hopeful."

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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