Fortune Park Hotels, an ITC-Welcomgroup brand, is scouting for properties abroad to set up fully owned hotels.
We do want to spread our wings far and wide. We may look at signing properties in Sri Lanka, Nepal and even Dubai. We, however, have not set any deadline to fulfil this objective but have been getting queries for the last few months, Suresh Kumar, president, Fortune Park Hotels told The Telegraph.
With outbound tourism in India twice the size of the inbound one, owning properties abroad will only be a logical extension to the business, he said.
The hospitality brand is looking to open its first fully owned hotels in Calcutta, Bangalore and Coimbatore. All the three properties are expected to be operational in the next two-and-a-half to three years.
We are using our land banks to develop properties at these locations, each about 1.5 acres. We will invest about Rs 65-70 crore on each property… these will be upscale hotels but with less frills, said Kumar.
More : telegraphindia.com
Send an E-Mail for Delhi Property Enquiry!
Related News from Delhi
Marriott International, in a management agreement with Uppal Hospitality, plans to launch a 206 room JW Marriott hotel in Gurgaon. The hotel, which is located on the Delhi-Jaipur highway, is expected to open in mid 2009.
The hotel will offer a spa and fitness centre with gym, an outdoor swimming pool, pool bar, gift and retail shops, business centre, executive lounge and 1, 220 sq m of meeting space. A 400 sq m ballroom will be available for meetings, as well. F&B options comprise a casual restaurant, two specialty restaurants and a café-deli. Other amenities include a bar and a lobby
Indus Hotels & Spa, promoted by a consortium of real estate developers and rice producers, will come up with four brand new hotels in Delhi by January 2010. These hotels are under various stages of construction at Dwarka, Paschim Vihar and Shahdara areas of Delhi.
Speaking exclusively to HospitalityBiz, Anil Ghei, Executive Vice President, Indus Hotels & Spa said that the construction work was progressing as per schedule and the hotels will be ready well before the Commonwealth Games begin. We are the only hotel group having four properties under construction in Delhi. In
NEW DELHI: The government, concerned with the slow pace of rolling out Commonwealth Games 2010 infrastructure in the Capital, has gone into combat mode on the hotel accommodation front. Government sources have revealed that a task force has been formed under the chairmanship of a joint secretary - tourism and additional director general - tourism for monitoring the creation of additional accommodation in Delhi and NCR region.
According to the tourism ministry officials: “We have prepared a status note stating that we are in touch with all land owning agencies for creating additional hotel rooms in the NCR region and
Heres a sum that just doesnt add up. The tourism ministry has estimated a huge shortfall of about 40,000 hotel rooms required for visitors to the Capital during the Commonwealth Games, which is just two years away.
As of now, there are just about 11,000 hotel rooms in the city and around 168 premises have registered under the bed and breakfast scheme, launched last year, adding a little over 500 rooms. The Delhi Development Authority (DDA) claims that the 33 hotel plots sold by it since January 2006 will add over 6,500 rooms by the time the Games begin. But
In an auction for nine hotel plots that lasted about an hour, the Delhi Development Authority failed to receive a single bid as hotel developers stayed away, citing unattractive locations and in some cases high reserve prices. The auction concluded a two-day attempt by the land agency to sell 19 plots, of which only three were sold.
According to a poll of hoteliers, developers and analysts by Mint, DDAs poor choice of location emerged as the single biggest factor keeping buyers away. This is in spite of some lots being priced as low as Rs14.15 crore for about a third of
