270 room, 3-star hotel coming up

MUMBAI: The market seems to be buzzing all over again on the possibilities of a hotel at Phoenix Mills (High Street Phoenix) in Mumbai. In fact, in September-October 2006, DNA Money had first reported that a 250-300 room business hotel has been planned as part of the new facilities inside Phoenix Mills. This newspaper had then reported that the Ruia’s have finally found an international hotel chain to partner for their hotel project at Phoenix Mills Ltd (PML).

While the Ruia’s maintained that they were in discussions with a select few global hospitality chains, reliable industry sources had confirmed to DNA Money that the Hong Kong-based Shangri-La Hotels and Resorts has won the race from among possible contenders including the likes of the US-based Starwood Hotels & Resorts.

“PML has signed a Memorandum of Understanding (MoU) with Shangri-La Hotels. Taking into consideration the location and profile of the mix-use development featuring parking, retail space, food court, seven screen multiplex by PVR, Phoenix Mills Ltd has plans to house a three-star hotel with a room inventory of 270. The MoU with Shangri-La is a management agreement for their Traders brand,” sources said.