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Shangri-La Hotels and Resorts to set up five hotel and resort properties in India

Friday, 12 Jul 2019
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Shangri-La Hotels and Resorts, a Hong Kong-based multinational hospitality company, is planning to set up five new hotel and resort properties in India. The group is in discussion with multiple property owners including its existing partner in the country, Eros Group.

The cost of a new five-star property, with 300 to 500 rooms, ranges between Rs 1,000 crore and Rs 1,800 crore.

At present, the hospitality company has two properties in India and is eyeing locations in Mumbai, Kolkata, Goa and Rajasthan, among others. The company is also open to building planned properties on its own.

The two existing hotels are located in New Delhi and Bengaluru (Karnataka). The hotel in Bengaluru opened in 2015 is worth Rs 780 crore.

Moreover, the Group is likely to introduce some of its other international brands such as Traders Hotel, Kerry Hotel, Hotel Jen and Shangri-La Resorts through the upcoming properties.

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