#Mumbai did you know? Shangri-La Hotel, Mumbai after 06 Sep, 2013, will not be a Shangri-La anymore. The management of Hong Kong-based Shangri-La International and Pallazzio Hotels and Leisure, a subsidiary of the BSE-listed Phoenix Mills, have decided to part ways just nine months after the Shangri-La Hotel in Mumbai became operational. The hotel owned by Pallazzio, and run by Shangri-La, said they mutually decided to part ways but refused to give any reason for it. “We have mutually decided to end their relationship and Shangri-La will withdraw from the management of the Shangri-La Hotel, Mumbai,” Shangri-La International Hotel Management said in a statement to PTI. The Mumbai property, which opened its doors to guests just nine months ago, will be handed over to the owning company on 6 September and will no longer be part of Shangri-La Hotels and Resorts chain, it added. In a notice on their website, the hotel management has said: “As of 6 September 2013, Shangri-La Hotels and Resorts will no longer manage Shangri-La Hotel, Mumbai. The hotel will be renamed and operated by the owner.” Screengrab of Shangri-La, Mumbai’s website. Phoenix Mills’ joint managing director and group chief executive officer, Shishir Shrivastava, confirmed the development to the Economic Times. He, however, declined to comment on why the 20-year contract was terminated within nine months. The newspaper reported that the mutual decision will mean that there will be no penalties involved and Pallazzio has reportedly finalised a new operator to manage the 390-room hotel. “The property will continue to operate as an uber-luxury hotel with several enhancements, new banquet facilities and further the signature restaurant Mekong and Libai Bar will launch as planned by mid-September,” Shrivastava told ET. The project had been invited controversy after the construction of the hotel began before getting environmental clearance for it. At present Shangri-La Hotels and Resorts have one property in New Delhi and two are under development — Shangri-La Hotel Bangalore (to be operational by 2014) and Palm Retreat Shangri-La, Bangalore (to be operational in 2015). Read more at: firstpost/business/shangri-la-walks-out-of-mumbai-project-1068661.html?utm_source=ref_article
Posted on: Wed, 04 Sep 2013 16:59:01 +0000
Trending Topics
Recently Viewed Topics
© 2015