|
| Industry News |
| Shangri-La Hotel, Mumbai to be launched in September 2010 |
| Thursday, May 06, 2010, 13:00 Hrs [IST] |
Shangri-La Hotels and Resorts, has signed an agreement with Pallazzio Hotel and Leisure Limited (a wholly owned subsidiary of Phoenix Mills Limited) to manage the Shangri-La Hotel, Mumbai, which will be launched in September 2010. Pallazzio Hotel and Leisure Limited has invested Rs 483 crore in equity for the Rs 700-crore hotel project. The remaining Rs 217 crore is through debt. The company has its hotels in Delhi known as Shangri-La’s - Eros Hotel, New Delhi and the Shangri-La Hotel, Bangalore. Besides Palm Retreat Shangri-La, Bangalore will debut in 2011.
Designed by Mumbai-based Shekhar Patki, the 410-room hotel will be situated in the High Street Phoenix retail and office mixed-use development, located in Lower Parel, Mumbai. A variety of dining options will be available, including multiple speciality restaurants, an all-day café and a bar. Additional facilities will include a health club, spa, swimming pool, business centre, ballroom, conference and meeting room facilities.
Madhu Rao, Managing Director and Chief Executive Officer, Shangri-La Hotels and Resorts said, “We are delighted to work with Pallazzio Hotel and Leisure Limited to introduce Shangri-La’s distinctive hospitality to Mumbai, which we are certain will position this hotel as a market leader. India offers tremendous potential and the opening of Shangri-La Hotel, Mumbai is a key strategic move in expanding our presence in the subcontinent.”
Shishir Shrivastava, Director, Pallazzio Hotel and Leisure Limited and CEO, Phoenix Mills Limited’s hospitality division said, "We selected Shangri- La to manage this property due to its reputation for delivering a premium luxury hospitality experience. It also marks our foray into the hospitality industry, where we plan to extend our presence to operating multiple world-class luxury properties in the coming years. The long-term opportunity in this sector is immense and we are confident of creating best-in-class properties with right partners by our side.” |
| |
|
|
|
|
