Fortune Park Hotels Inks Four Agreements To Expand Footprint In India
Fortune Park Hotels, member of ITC Ltd.'s hotel group, on Sunday announced signing of four individual operating agreements for a hotel each at Candolim in Goa, Deoghar in Jharkhand, Haldwani in Uttarakhand and Tirupur in Tamil Nadu.
With these agreements, Fortune Hotels has expanded its presence in the country, adding more depth to its business and leisure portfolio, the company said in a statement.
While Fortune Select, Candolim will have an inventory of over 100 rooms, Fortune Park, Deoghar will have 100 rooms. Fortune Park, Tirupur will have 62 rooms, it added.
The company, however, did not provide details about the exact number of rooms in Fortune Inn, Haldwani.
"We are pleased to announce our entry into various growth markets of India. With these additions, we not only increase our appeal in the domestic market but also offer a very interesting destination mix to our business and leisure customers, thereby opening up new vistas for their travel," Fortune Park Hotels Ltd MD Samir MC said.
The company has great confidence in the India growth story and knows that the opportunity lies in tier 2 and 3 markets of India, he added.
"We are currently exploring many new alliances with hotel investors in these markets and are hopeful to close more such alliances in the near future," Samir said.
All four hotels enjoy a distinct positioning and address the growing accommodation demand for branded hotels in these destinations, Fortune Hotels said.
With the signing of these agreements, the company adds over 300 new rooms across 4 key cities of India. It currently has 39 operating hotels with around 3,000 rooms in 35 cities across India.
Fortune Park Hotels is a wholly owned subsidiary of ITC and was set up in 1995 to cater to the mid-market to upscale market segment in business and leisure destinations.