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Our Bureau

Bangalore, June 17 The Bangalore-based Fortune Park Hotels Ltd – a subsidiary of ITC Ltd, and JP Group – announced the opening of ‘Fortune Select JP Cosmos’ here on Monday.

A premium business hotel, the 134-room property is the 24th ‘Fortune’ hotel in the country, and the second in the city. Another Fortune hotel is coming up in the city at Richmond Road.

The JP Group, which owns the property, has invested Rs 70 crore into it, while the ITC Group has shared its branding, technical know-how, and management expertise with the former.

Fortune Park Hotels plans to invest about Rs 150 crore for developing 3-4 ‘Fortune’ properties in Bangalore, Kolkata and Coimbatore over the next two to three years, Mr Pawan Verma, Senior Executive Vice-President, ITC Ltd (Hotels Division), said.

The company has a total of about 50 alliances for hotels, he added, of which 24 have become operational, while the rest would be over the next two years. About six-eight hotels would open by the end of March 2009.

The next ‘Fortune’ hotel to be operational would be in Hyderabad, followed by Jaipur and Mussourie.

ITC’s second hotel in the luxury space in the city, located at Lavelle Road, is likely to be commissioned by the middle of next year, he said. He added that a large luxury hotel in Chennai would be opened by 2010; and “plans for the Ahmedabad property are at the drawing board stage,” he said.

More Stories on : New Projects | Hotels | Karnataka

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