FOUR SEASONS pursues expansion in India
Leading international luxury hotel chain Four Seasons Hotels and Resorts is pursuing major development plans in India, targetting the cities of Mumbai, Bangalore, NCR (national capital region), Goa, Rajasthan (Jaipur and other cities), Kerala and Agra over the next 3 years. The company has already forayed in the Mumbai and Bangalore markets and recently signed a contract for a luxury hotel in the NCR.
Christopher Wong, senior vice president, Asia Pacific ,Four Seasons Hotels and Resorts told Hindustan Times that the company recently tied up with the Delhi-based developer The 3C Company wherein The 3C would develop a luxury hotel ‘Delhi One’ in Noida. The total esimated investment for this project is US$450 million. Wong also reconfirmed that Four Seasons has no plans to get into the budget hotel category.
In fact, the global hospitality chains have come to recognise the potential of hospitality business in India. Consider this: There are around 1,00,000 rooms across India in all categories. This fades in comparison to cities such as Dubai, Bangkok and Las Vegas where each city has close to this number of rooms.
With the number of tourists doubling over the next few years in India there is expected to be an acute shortage of rooms marking a good business potential in the country’s hospitality business.