Fortune Hotels, under the umbrella of ITC‘s hotel group, is gearing up to launch a new hotel every month in the ongoing financial year, according to Samir MC, the company’s Managing Director. Sharing the expansion blueprint, Samir highlighted the recent inauguration of Fortune Hotels’ first international property, the Fortune Resort & Wellness Spa Bhaktapur, situated in Nepal.
He characterized it as a major achievement within the company’s expansion strategy aimed at transcending geographical boundaries, with aspirations for establishing a strong foothold in South Asia and neighboring markets.
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“Following the recent opening, we’re gearing up to launch at least four to six more hotels in the first half of the fiscal year. These will be in unique destinations like Kevadia (Ekta Nagar, Gujarat), Candolim (Goa), Palampur (Himachal Pradesh), and a beach resort in Chennai, among others. We’re also planning an equal number of openings in the second half from October to March,” Samir stated.
He added, “This pace is in line with our objective of inaugurating a new hotel nearly every month during this fiscal year, signifying substantial advancement towards our expansion objectives.”
Discussing the hurdles confronting India’s hospitality sector, Samir highlighted how economic uncertainties, such as fluctuating exchange rates, geopolitical tensions, and global economic downturns, can influence travel demand and consumer expenditure, thereby presenting challenges for hotels in managing revenue, occupancy rates, and profitability.
He pointed out the growing global travel patterns, propelled by increasing disposable incomes, a craving for distinctive experiences, and enhanced accessibility, as “noteworthy opportunities” for the hospitality sector to allure a varied spectrum of travelers.
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