Mumbai-based Phoenix Mills is planning
to set up a 30-storey luxury hotel at Lower Parel in Mumbai.
A subsidiary - Pallazzio Hotels and
Leisure - will develop the property, while Hong Kong-based Shangri-La will
manage the hotel. The hotel - The Shangri-La Hotel Mumbai - will have
350-400 rooms and the company is spending nearly Rs.300 crore on construction
and interiors of the hotel.
The proposed hotel is expected to
become operational by end-2009.
Atlas Hospitality, another Phoenix
Mills subsidiary, is developing luxury hotels at Pune, Bangalore, Chennai,
Mumbai and Agra. Each hotel will have nearly 300 rooms, and will be executed
through special purpose vehicles.