Industry Update
Press Release14 December 2020

Fortune Hotels expands its footprint in India

Inks four operating agreements and adds over 300 rooms in diverse destinations across 4 States

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	  Fortune Hotels

Gurgaon - Fortune Hotels, a member of ITC's hotel group today announced the signing of four individual operating agreements for hotels in Candolim (Goa), Deoghar (Jharkhand), Haldwani (Uttarakhand) and Tirupur (Tamil Nadu).

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With these new signings, Fortune Hotels, the leading hotel chain in mid to upscale segment, forays across the cardinal directions of India thereby solidifying its presence in these regions, adding more depth to its business and leisure portfolio.

Highlighting the group's expansion strategy, Samir MC, Managing Director, Fortune Park Hotels Limited, said: "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."

"We are a truly Indian brand presently in our 25th year of operations. This Fortune Advantage brings a plethora of rich experiences to the table- be it our strength in operating multifaceted hotels pan India, in-depth knowledge of the local markets, or our acumen in curating culinary experiences in food & beverage for our guests. It has always been our endeavour to share our expertise with potential ownerships and help them find fortune with us. We have great confidence in the India growth story and know that the opportunity lies in tier 2 & 3 markets of India. 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.", he added.

All four hotels enjoy a distinct positioning and address the growing accommodation demand for branded hotels in these destinations. Spread across multilateral directions of India, they fill a major void into these high potential markets by offering quality stay options at an attractive value.

Fortune Select, Candolim, Goa, comes with an immersive inventory of over 100 well-appointed rooms and is designed to please the discerning business and leisure traveller with its distinctive food and beverage offerings, meetings and event spaces, a rejuvenating spa, refreshing recreation options and a lap-size swimming pool. Poised to open towards the mid of 2022, this swish upscale property, just 800 metres from the Candolim beach is located in the heart of Bardez -North Goa and is 15 kms from Panjim.

Fortune Park, Deoghar, Jharkhand set in the pilgrim city and the cultural capital of Jharkhand will be a 100-room hotel, conveniently located in the heart of the smart city, home to Baidyanath Temple one of the 12 Jyotirlingas shrines in India. Expected to open in 2024, the hotel with its contemporary interiors, modern facilities and impeccable services promises to turn into a perfect 'home away from home' for the leisure traveller looking to explore this popular tourist destination.

Fortune Park, Tirupur, Tamil Nadu is a 62-room hotel, strategically located in the textile and knitwear hub of India, just 50 kms from Coimbatore. Positioned as a preferred mid-market destination catering to accommodation demand from corporate/business traveler, the hotel is anticipated to open its doors to guests in the summer of 2021.

Fortune Inn, Haldwani situated in the immediate foothills of Kumaon Himalayas is slated to be a mid market business hotel catering to the growing demand for branded hotels in this largest commercial market of Uttarakhand. Located atop a popular mall of the city, just off NH109, the hotel is anticipated to open in October 2022.

With the signing of these agreements, the premier domestic chain now adds over 300 new rooms across 4 key cities of India, bringing their existing inventory to around 3700 rooms across 42 cities.

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Fortune Hotels

Fortune, a member of ITC's hotel group, was set up in 1995 to cater to the mid-market to upscale segment in business and leisure destinations. Today, it is a professionally managed Hotel Management Company with 71 signed properties, 5632 rooms spread across 55 cities in India, out of which 43 hotels are operational at present.
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Other Brands by ITC Hotels
ITC Hotel - Luxury Collection
WelcomHotels

About ITC Hotels

ITC Hotels is one of India's largest luxury hotel chains. It operates under four brands with more than 100 hotels in over 70 destinations in the country. Integrating India's fine tradition of hospitality with globally benchmarked services, the luxury hotels reflect the culture and ethos of each destination.

With "Responsible Luxury" as its guiding premise, ITC's Luxury Collection Hotels combine grandeur with intimacy to operate according to the highest principles of environmental stewardship. With 10 LEED® Platinum certified hotels, ITC Hotels is the Greenest Luxury Hotel Chain in the World. The brand features opulent accommodations, state-of-the-art business facilities, renowned signature cuisine and award-winning wellness experiences.

The 11 Luxury Collection properties are: ITC Maurya in New Delhi, ITC Mughal in Agra, ITC Windsor and ITC Gardenia in Bengaluru, ITC Grand Central and ITC Maratha in Mumbai, ITC Grand Chola in Chennai, ITC Rajputana in Jaipur, ITC Kakatiya in Hyderabad, ITC Sonar in Kolkata and ITC Grand Bharat in the New Delhi Capital Region.

Other brands in the ITC repertoire are: WelcomHotel, Fortune, and WelcomHeritage offering a wide range of options for leisure and business travelers from mid-range properties to heritage palaces, forts and resorts. For more information, visit www.itchotels.in.

Contact
Divya Agha
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