Fortune Park Hotels, a subsidiary of ITC,launched its new hotel, Fortune Select Trinity, at Whitefield, the IT hub of the Bangalore city.
The group has planned to augment its current number of 40 hotels to 60 hotels as part of its expansion. The group is also planning to augment the number of rooms from 3,139 to 6,000 rooms over a period of time as part of this growth strategy.
Fortune, whose current expertise was in the business of managing hotels, has been also planning to set up its own properties. It is planning to start at three locations, Kolkata, Coimbatore and Bangalore.
The company is planning to launch a brand extension program by launching `adventure`, resorts and highway hotels to cater to the new customer segments.
ITC had land available that had been released since the factories closed down or shifted. These lands are being used to develop properties.
Shares of the company closed up Rs 2.15, or 1.06%, at Rs 205.5. The total volume of shares traded at the BSE was 1,406,614. (Friday)
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