Canada-based luxury hospitality brand Four Seasons, after having put Mumbai, Delhi and Bangalore on its radar, is now turning its spotlight to Goa and Hyderabad.
Brand looks to have 6 properties
KOLKATA: Canada-based luxury hospitality brand Four Seasons, after having put Mumbai, Delhi and Bangalore on its radar, is now turning its spotlight on two other destinations in India — Goa and Hyderabad.
In Delhi, where the company has signed a letter of intent for a property being set up by real estate major DLF, Four Seasons is not picking up any equity stake though it is following a business model in India of investing in projects as circumstances dictate — typically, on a minority basis.
Elizabeth Pizzinato, vice-president, public relations, told DNA Money through email: “There are many opportunities for growth in India and we are open to looking at cities and destinations where it would make sense for our brand to have a presence. That would include places such as Goa and Hyderabad.”
Overall, Four Seasons is looking at about six hotels in India. The first Four Seasons hotel, coming up at Worli in Mumbai is being developed by Magus Estate & Hotels, part of the Jatia Group.
Of the $90 million investment in this property, Four Seasons is learnt to be investing about $7.5 million. The Jatia Group will hold about 74% in this project.
Four Seasons’ investment in the Mumbai hotel is consistent with its practice around the world of making only minor capital investment in its hotels.
The hospitality chain that manages 74 luxury hotels across the world is part-owned by billionaires such as Bill Gates, Saudi prince Alwaleed bin Talal and its chairman and CEO, Isadore Sharp.
Sharp and his family own a significant share in it and is said to be involved in the chain’s operations and strategy.
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