Fortune Inn Sree Kanya upbeat on Vizag market
Hotel’s Ajit Kumar says executive capital in Vizag will give a boost to hospitality sector
Hyderabad: Fortune Inn Sree Kanya, a member of ITC Hotel Group, is hopeful of demand build-up in the hospitality sector of Visakhapatnam, which is likely to become the executive capital city of Andhra Pradesh.
Being a city hotel, Fortune Inn Sree Kanya mostly caters to the business travelers. However, the ongoing economy slowdown is impacting the hospitality sector.
"The business was not rosy in the year gone by. After witnessing a negative growth in the last year, we're hopeful of achieving 8-10 per cent growth in 2020 year," says S Ajit Kumar, General Manager, at Fortune Inn Sree Kanya, while requesting the government to introduce licence renewal for every five years. Fortune Inn Sree Kanya in December bagged Special Award from The Hans India as part of The Hans India Retail Ratna Awards-2019.
"Every year, hotels need to renew licence and we have to get no objection certificate from fire department and other departments as well. It involves cumbersome exercise. If the government makes it once in every five years, then it'll be good for the hospitality sector," said Kumar.
According to him, the year 2019 was tough for the hospitality sector. "December was encouraging, but April-September period was very bad for the hospitality sector.
Economy slowdown and general elections impacted the most. October-December period was good for us as lot of travelling takes place during the last quarter of any year. Weather is also good," added Kumar.
The GST rate cut helped the hospitality sector to ease out operational pressure.
"We come under 12 per cent GST slab as against 18 per cent earlier. After reduction in GST rate, the hospitality sector got a breather and passing this to our guests as well," said Kumar.
The industry in Visakhapatnam in general is upbeat after the announcement of AP Chief Minister YS Jagan Mohan Reddy about three capital cities in the state. Vizag has been pegged as executive capital of AP.
"Lot of activity is going on in Vizag. If Visakhapatnam becomes the executive capital of AP, then it'll boost the business prospects in the port city.
We also just heard about it. If it happens, it'll for sure boost hospitality sector. Being a city hotel, we mostly cater to corporates. Leisure segment generally goes to beach side hotels. Average realised room rental revenue per day (ADR) is Rs 3,500," remarked Kumar.
A recipient of numerous travel industry awards, Fortune Hotels provides contemporary accommodation to business and leisure travellers through its wide range of accommodation in pertinent destinations, with emphasis on efficient service and great value.
"The industry is also facing talent crunch. We have collaborated with several educational institutes and sourcing manpower from them. We offer employee-friendly work culture, while providing uncompromised quality services to the guests.
That's how we retain the talent manpower," added Kumar. Fortune Inn Sree Kanya has 68 rooms, a multi-cuisine restaurant, one bar, four banquet halls and a board room fitness centre.
Fortune Inn Sree Kanya hotel is managed by Fortune Park Hotels, a wholly-owned subsidiary of ITC. Sree Kanya hotel is owned by Gurumurthy and Gupta Gurumurthy, while Sree Kanya Devallu and Sons is a parent company.
The Fortune Park Hotel has 52 alliances, 3,786 rooms under Select, Park, Inn and Resort brands across 45 cities thereby creating specialised products designed to suit the specific needs of various segments.