Fortune Panchwati aims to raise revenues

Fortune Park Panchwati, part of the Fortune Hotels, a wholly owned subsidiary of ITC Limited, is planning to boost its revenue and is eyeing a turnover of Rs 3 crore by the end of this year, banking on its various business initiatives.

On the sidelines of an interactive session, Alok Verma, general manager of Fortune Park Panchwati, said, "We are a young hotel now and only started functioning six months back. We are looking at pumping in revenue through various initiatives and taking it upto Rs 3 crore by the end of this year."

The company apart from its regular income, is getting lucrative returns from various corporate houses and other companies that hold conferences and meetings in the 6000 sq feet banquet hall of the hotel.

Away from the hustle and bustle of the city and its location in the outskirts, play an added advantage, added Verma.

This apart, the hotel also offers its hall for wedding purposes wherein the minimum price charged on per person ranges from an amount of Rs 650 to Rs 1000.

About 70 per cent of the hotel's turnover comes from these two segments which has been contributing significantly.

Currently, the hotel has 42 operational rooms, which will be taken to 72, by first week of December and with this addition, the turnover will be scaled upto Rs 8 crore over the next two years.

Massive renovation of an already existing hotel is underway in the city as per the standards of Fortune Hotel, which will be flagged off early next year.

Fortune Hotels business model comprises of sub categorisation of the brand into extension brands like Stop, Lodge, Adventure, each catering to specific needs for which construction of forest houses, log houses, lodges in roadside are being dwelled upon and are in the offing.

Fortune Park Hotels Ltd, is the fastest growing chain of hotels, 24 of which are operational while 24 are underway, in various stages of construction and refurbishment.