Four Seasons, a Canada-based high-end luxury hotel chain operator, will launch its first Indian property in Mumbai in March.
The property has been developed by Magus Estates and Hotels, part of the Jatia group, which holds 74 per cent stake and private parties hold the remaining. The group has invested $100 million in the Mumbai property, while Four Seasons envisages an investment of $7.5 million.
Located in central Mumbai, property is spread over 6,53,000 sq ft with 33 storeys and 202 guest rooms and a rack rate starting from Rs 20,500.
With the USP of largest average room size in Mumbai, Indian and Western spas and a fleet of BMW sedans for airport transfers, the brand is positioning itself as a competitor to the Taj and the Oberoi.
Expecting a mix of international and domestic clientele, Four Seasons is banking on its formidable reservation networks abroad and the tie-ups it has with multinational corporations.
To the shortfall of 100,000 rooms in the country, Four Seasons is eyeing major metros in the country. "We may develop other properties for Four Seasons in the country," said Adarsh Jatia, Director, Magus Estates and Hotels.
Magus is currently setting up the Hyatt Regency property in Pune and is slated to make fresh investments in the luxury hotel segment in other metros.
Four Seasons is looking for developers to operate its chain in Goa, New Delhi, Bangalore and Hyderabad. Delhi-based DLF has reportedly been selected to develop a Four Seasons' property in Gurgaon.
These properties will be completed in three years, while Four Seasons is planning 12 properties more in the country in the next six years.