The Hotel Management of Hong Kong based Shangri-La International Hotel has come up with the decision to withdraw their contract from the management of its Mumbai chain. While discussing about it in a press conference the company said that the owning firm of Pallazzio Hotels and Leisure Ltd, which is a subsidiary of the Phoenix Mills, has agreed to end the tie-up in a mutual way. The long term relationship of the Shangri-La International Hotel Management and Pallazzio Hotels and Leisure Ltd has come to an end now.
As per the release, the hotel will be passed over to the owning company on September 6, 2013 and thereafter, it will not be a part of the famous Shangri-La Hotels and Resorts. The Mumbai chain of the Shangri-La hotel with 390 lavish guest rooms was inaugurated last year in December. And it was the second property of the hotel in India that was going to be managed by the Shangri-La Hotels and Resorts following the Shangri-La’s Eros Hotel in New Delhi. Besides this, the company has also agreed on the management contract deals for opening of Chennai and Bangalore hotels. Shangri-La already has a premier name among Bangalore hotels. This Hong Kong based premier hotel group, at present, manages 80 hotels all around the world under the brands of the Shangri-La, Kerry and Traders.