Four Seasons Hotels and Resorts is planning a rapid expansion of hotel properties in India, Hindustan Times reported.The report said Four Seasons was looking at extending its luxury brand of hotels in Mumbai, Bangalore, NCR (national capital region), Goa, Rajasthan (Jaipur and other cities), Kerala and Agra over the next three years.The company has already forayed in the Mumbai and Bangalore markets and recently signed a contract for a luxury hotel in the NCR.”India is important for our overall growth strategy and in the long term we plan to be present across all key destinations in the country,” Christopher Wong, Senior Vice President, Asia Pacific ,Four Seasons Hotels and Resorts was quoted telling Hindustan Times. According to Wong, over the next three years, the company would have several hotels under its ambit.The management company itself does not develop or own hotel properties. Four Seasons Hotels and Resorts currently operates 85 luxury hotels across the world.In the report, Wong was quoted as saying that the company had recently tied up with the Delhi-based developer The 3C Company. The 3C would develop a luxury hotel ‘Delhi One’ in Noida at a total investment of around Rs 2,000 crore (of which Rs 600 crore is the land cost). “The required investments would be funded through a mix of equity, debt and internal accruals,” Vidur Bhardwaj, Director, The 3C Company, was quoted saying. Wong had told the paper that Four Seasons has no plans to get into the budget hotel category.The paper said that the global hospitality chains have come to recognise the potential of hospitality business in India. The number of rooms across India is considerably lower compared to even cities in some countries.The report said 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.
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