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| Phoenix Hospitality inks pact with Marriott International |
| BS Reporter / Mumbai Nov 10, 2009, 01:21 IST |
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Phoenix Hospitality Company, from the Ruia family, announced the signing of a long-term management agreement with Marriott International for hotel projects at Mumbai and Agra.
To be built at a cumulative project cost of about Rs 320 crore, the hotels are part of mixed-use, retail-led development, stated a release from the company.
The Marriott at Phoenix Market City, Kurla, in Mumbai will be a 300-room hotel and developed by Graceworks Realty & Leisure, a company promoted by Phoenix Hospitality and HBS Realtors. The hotel will come up close to the international and domestic airports.
Phoenix Market City is under construction, a retail and entertainment place which features the country's largest multiplex, a mall, restaurants and bars and extensive commercial office space.
The Marriott Hotel will be the first international 5-star hotel brand to start operations in the central suburb of Mumbai.
The Courtyard by Marriott Hotel at Agra will be developed by Gangetic Hotels, promoted jointly with Phoenix Hospitality. The hotel will form a part of a larger Phoenix Market City mixed-use development, promoted by Big Apple Real Estate in which Phoenix Mills has a majority stake. The hotels will have 165 rooms.
Shishir Shrivastava, chief executive, Hospitality & New Initiatives & Chief Development Director for the Phoenix Group, said, “Mumbai and Agra are both growing and sustainable markets. The Mumbai hospitality market has witnessed a compounded growth in demand from the business traveller, both domestic and international, while Agra continues to attract a significant number of leisure travellers.”
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