Fortune Hotels, a mid-scale budget hotel brand promoted by ITC Hotels has tied up with Parsvnath Hotels Ltd, the hospitality arm of Parsvnath Developers Ltd for their upcoming hotel property in Shirdi, Maharashtra. The contract was signed last week. The 58-room hotel will become operational by March 2011 and will be the first operational hotel of the Group from among the 14 odd properties, which are under development across the country.

Parsvnath Hotels Ltd. has about 12 hotel projects in different stages of construction in different locations pan-India and is hopeful of completing them between 2011 and 2014. These projects include five-star properties in Hyderabad, Cochin, Goa, Lucknow and of lower classifications in Mohali, Mararikulam (Kerala), Jodhpur and Ujjain.