Mumbai: Phoenix Hospitality Company, a hospitality initiative of the Ruias’ promoted Phoenix Mills, has inked a long-term management agreement with Marriott International to set up Marriott hotels in Mumbai and Agra at a cost of Rs 320 crore.
The hotels will form part of the Phoenix Group’s mixed-use developments at the locations. The Marriott at Market City here at Kurla will be a 300 key hotel. It will come up at Phoenix Market City, Kurla complex, which is under construction.
The Kurla project, across 25 acres, will have about 1.35 million sq ft of retail and 1.20 million sq ft of office space, in addition to the Marriott. The Courtyard by Marriott at Agra will be a part of a larger Phoenix Market City project.
Mr Shishir Shrivastava, CEO - Hospitality and New Initiatives, and Chief Development Director for the Phoenix Group, said, “The last four to six quarters may have been disappointing for the hospitality industry, but we continue to have faith in the Indian consumption story and anticipate increasing demand in the years to come. We are delighted to have Marriott, a brand recognised for its high quality standards and a far-reaching network, partner us to manage the Kurla and Agra hotels.”
Mr Ed Fuller, President and Managing Director of International Lodging for Marriott International, said, “We are thrilled to add these two exciting hotels to our Indian portfolio. The Indian travel market is exploding as India’s middle class continues to expand and an increasing number of international visitors come to India for business or tourism or to attend conferences.”
Marriott International is the second hotel brand to tie up with the Phoenix Group. The superstructure of the Shangri-La Hotel at High Street Phoenix, Mumbai, is complete and the hotel is likely to open in the third quarter of 2010. The Phoenix Group is primarily focussed on large retailled mixed-use formats.
Source: The Hindu Business Line
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