Anand & Madhura Katti, Mumbai (2007-09-03)
PALLAZZIO Hotel and Leisure, a 100 per cent subsidiary of Phoenix Mills, will make its foray into the hotel business with a luxury business hotel in Mumbai by the last quarter of 2009.
Pallazzio Hotels and Leisure director, Mr Shishir Shrivastava, told TTG Daily News: "Hong Kong-based Shangri-La Asia will manage this property located at High Street Phoenix at Lower Parel in Central Mumbai. Final plans are yet to be closed and we are contemplating to build 350 to 400 rooms at an investment of US$73.5 million to US$85.9 million.
"The Shangri-La Hotel, Mumbai will be a world class hotel where guests will arrive at a top floor 'sky lobby' of the 30-storey building offering panoramic views of the city."
The hotel, situated 13km from the airport, will be an integral part of mixed-use development that also has retail and office sections.
Phoenix Mills' another new wing, Atlas Hospitality, has acquired land for building luxury hotels at Chennai, Pune, Agra, Bangalore and another hotel in Mumbai. These five hotels are expected to commence operations in three to five years' time. The company has yet to decide on the managing partner for these hotels.