30 minute interview

'We plan to add another 1500-2000 rooms to our portfolio by 2010'

Suresh Kumar President of Fortune Park Hotels

Suresh Kumar, the newly-elected president of Fortune Park Hotels talks to Praveen K Singh about the expansion plans of the Fortune chain.

Do you see Fortune's progress in the booming hospitality business?

We might say that it's a 'boom time' in the hospitality sector, with India continuing to be a popular destination. Fortune sees itself as a part of a very important segment of the hospitality sector and will certainly be contributing to its growth. India has a deficit of 80,000 rooms, however around 30,000 rooms will be added with introduction of new hotels. We are also planning to add another 1500 - 2000 rooms to its portfolio by 2010.

How is Fortune combating the challenge of rising land costs?

Land availability continues to be the major hurdle in this present scenario. However, the government appears to have taken note of the need to make land available at affordable prices across the country, to fuel growth in tourism. The Fortune chain expects to double its capacity in the next two years by adding least 50 more hotels by the year 2010.

What, according to you, are the critical issues confronting the Indian hospitality industry?

Infrastructure remains the most critical issue faced by industry. It is heartening that we will be able to boast of world-class airports in the key gateway cities of New Delhi and Mumbai by 2010, the open skies policy of the government should bring in the adequate arrivals for a country of our size. However, the most critical issue of accommodation needs to be addressed. In addition to the cost of land, other important issues that need to be addressed are licences related procedures, which can be resolved through 'single window clearances'.

How do you differentiate, first class branded chains, as against the standalone hotels in India?

A branded first class hotel is usually known by its standardised features and uniformity across the chain. Customers, who travel within a chain, tend to become familiar with these features, resulting in high comfort levels. A 'standalone hotel' on the other hand, has to reinvent itself, and offer new and unique features, to make a mark in ever evolving markets.