Opposites attract

THE LOCATION OF THE Four Seasons hotel in Worli, Mumbai, is a far cry from some of its other properties on the picturesque Bosphorus Strait in Istanbul or set among quaint villas in Giza, Egypt. Slums on one side and a graveyard on the other, don’t make a pretty frame for the sleek glass-and-metal skyscraper in Mumbai. The hotel draws 98% of its revenue from business travellers, who don’t seem to care about the surroundings. With occupancy ranging between 65% and 70%, average room rates of Rs 12,500, and an open-air bar (Aer) that is among the trendiest watering holes in town, Four Seasons is certainly holding its own against older and more established venues such as the Taj Towers (60% occupancy, Rs 9,500), the Taj Lands End (71%, Rs 9,000), and the Trident (63%, Rs 8,100). Analysts say the quick growth in business is largely due to its location, midway between the Chhatrapati Shivaji International Airport and south Mumbai. The Bandra-Worli Sea Link, which slashes travel time from the airport by 30 minutes is close by. The presence of the Goldman Sachs and Credit Suisse offices in the area also helps. Business has been so good that Adarsh Jatia, managing director at Magus Estates & Hotels, the local partner for Four Seasons, says, “It’s good enough to build another Four Seasons on 300 acres in Goa.” The onus is clearly on checking in rather than checking out the surroundings.