Fortune Park Hotels, a unit of cigarettes-to-FMCG conglomerate ITC, is entering the medical tourism

RELATED ARTICLES ITC likely to invest up to Rs 1,000 cr in FMCG ITC likely to invest up to Rs 1,000 cr in FMCG ITC may invest up to Rs 1k cr in 4 yrs on FMCG business ITC Q3 standalone net up 22.45% to Rs 1,700 cr Nestle, ITC spice up instant pasta market

business having inaugurated the Fortune Park Lake-City hotel in Thane near Mumbai.

“With the inauguration of Fortune Park LakeCity hotel, we mark our entry in to the medical tourism business,” Pawan Verma, senior executive vice-president, ITC -Hotels Division said in Thane on Thursday. Fortune Park LakeCity, which is being managed by the ITC subsidiary, is owned by Jupiter LifeLine Hospitals.

The 33rd property of Fortune Park Hotels, has 58 rooms with an additional 32 rooms opening in the second phase, by end of this calendar year. Apart from hospital clientele, the hotel will also cater to business and corporate clients since the area has many companies such as Raymond, Godrej, Paper Products India and Clariant Chemicals (India) in the surrounding areas.

“We are speaking to various corporate in the surrounding areas such as Bhiwandi, Vikhroli, Airoli and Navi Mumbai for tie-ups,” added Verma.

According to a study conducted by Confederation of Indian Industry and consulting firm McKinsey in 2005 the medical tourism industry in India is expected to grow to $2 billion (Rs 9,000 crore) by 2012. Among the factors that make India an attractive proposition for medical treatment is cost efficiency with costs in India being as low as a fifth of those in the USA.

The two partners are also planning a similar property in Vizag in the next two years. “We are planning to launch a similar kind of medical tourism project with Fortune Park, which will have 250 bed hospital with 50-60 room hotel,” said Ajay Thakker, chairman and chief executive officer, Jupiter LifeLine Hospitals. The project cost is expected to be around Rs 150 crore and will be on a management contract with the ITC unit.

Thakker further said that they would be marketing their medical tourism venture at upcoming trade fares at Jaipur and Dubai.

Fortune Park will also finalise details about discounts to be given to patients and their relatives who would stay in the hotel during the treatment at the hospital. “We are working out the package and would be announcing it in the beginning of next month,” Verma said.