The Telegraph
Since 1st March, 1999
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Fortune Park eyes west, south

Calcutta, Aug. 3: Fortune Park Hotels Limited, the mid-segment hotel brand of ITC Limited, is planning to set up shop in Mumbai, Pune and Bangalore.

The company has been looking for suitable properties in these cities for over a year now and is still negotiating for projects in central locations.

“In Bangalore, we will manage a hotel which will be constructed by ITC. The parent company has made the situation easy for us as no developer or hotel owner in the city are ready to part with their property,” said Mandeep Singh Lamba, president, Fortune Park Hotels.

Though the company is keen on having a property in the prime areas of Mumbai, like Mahim, it might have to venture towards the northern suburbs with a particular focus on areas like Malad, Mulund or Navi Mumbai.

In line with its business interests in managing a property only, the company is trying to identify suitable land owners or developers who can build the property.

At present, Fortune Park has 15 properties in 14 cities, with 4 more projects underway at Vijaywada, Cochin, Ludhiana and Calcutta. All Fortune hotels, as at present, are only run by Fortune Park Hotels and are owned by some one else. Apart from the proposed Bangalore project, ITC has no stake in any of the properties.

The first two hotels are expected to open around October or November this year while the fourth at Calcutta will open its doors by the year-end.

The Bangalore property is expected to have a dual model ' a mall and a hotel ' just like the Fortune Select Global brand hotel in Gurgaon which has an attached shopping mall.

Lamba explained that an alliance with a mall saves the hotel both the cost and the space of accommodating a shopping centre, which most guests prefer.

“Fortune Select Global, which opened only 6 months ago in Gurgaon, brought in a new concept for the group. It offers an enhanced experience, with spacious rooms and workspaces for business travellers and is part of a commercial complex. It is expected that the Select Global brand will be the new pattern for forthcoming Fortune Hotels,” added Lamba.

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