Fortune Hotels Marks Milestone with 50th Property in India, Fortune Park East Delhi

Fortune Hotels Marks Milestone with 50th Property in India, Fortune Park East Delhi

By Author

Published on January 18, 2024

Fortune Hotels, a distinguished member of ITC’s hotel group, proudly celebrated a significant milestone with the inauguration of its 50th hotel in India. The newly launched Fortune Park East Delhi enhances the upscale hotel chain’s presence in the Delhi NCR region and the country as a whole.

Situated as a stylish haven for the modern-day traveler, Fortune Park East Delhi ensures hassle-free access to key city hubs and vantage points. Seamlessly connected to destinations such as Noida, Ghaziabad, Sahibabad, Pragati Maidan, Karkardooma Courts, and ITO, this addition to Fortune’s portfolio is nestled amid the commercial and residential buzz of East Delhi. Conveniently accessible from Indira Gandhi International Airport, Anand Vihar, and New Delhi railway stations, the hotel is strategically located.

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Fortune Park East Delhi aligns with the brand's promise, offering contemporary and chic well-appointed rooms, premium amenities, and a comforting stay. Samir MC, Managing Director of Fortune Hotels, expressed excitement about this achievement, stating, “Fortune Park East Delhi is a significant value-add to our ongoing, long-term growth trajectory, being our fifth operating hotel in Delhi NCR. We stand steadfast in our commitment to delivering exceptional experiences to travelers visiting the Delhi region for work and leisure and look forward to welcoming them.”

The hotel boasts a range of dining options, including the all-day dining restaurant Zodiac, the trendy bar and lounge Neptune Bar, the soon-to-open rooftop sky dining restaurant Nakshatra, and La Cafe, a chic coffee and conversation outlet. Meeting the diverse needs of business and social events, the hotel features two well-equipped banquet spaces for up to 1000 guests, complemented by state-of-the-art facilities and a dedicated team.

Adding to the guest experience, Fortune Park East Delhi includes a rooftop swimming pool, a spa, and a modern gym for wellness and rejuvenation. Leisure seekers will find nearby attractions like Akshardham Temple, Old Fort, Pragati Maidan, Surajmal Park, KV NFC Sports Ground, and Yamuna Sports Complex just minutes away.

With the opening of Fortune Park East Delhi, Fortune Hotels notches up a strong presence in the Delhi NCR region, complementing its four other properties in Noida, Ghaziabad, and Gurugram. This achievement marks a remarkable journey for Fortune Hotels as it continues to expand and cater to the diverse needs of its guests across key cities in India.


Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

By Nishang Narayan

Published on July 5, 2025

Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.

The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.

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As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.

Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.

Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.


Novotel Visakhapatnam Varun Beach Earns Green Key Certification

Novotel Visakhapatnam Varun Beach Earns Green Key Certification

By Nishang Narayan

Published on July 5, 2025

Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.

Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.

Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”

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The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.

As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.


IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

By Nishang Narayan

Published on July 5, 2025

Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.

Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.

Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”

The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”

Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.

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