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November 11, 2009 Wednesday

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pinto03

Phoenix Hospitality Company, a part of the Phoenix Group, has signed a long-term management agreement with Marriott International to set up Marriott hotels in Mumbai and Agra (Uttar Pradesh) at a cost of Rs 320 crore.

Both the hotels are likely to form part of the Phoenix Group's mixed-use developments at the locations.
The Marriott at Kurla in Mumbai is likely to be a 300-key hotel. It is expected to be developed by Graceworks Realty & Leisure, a company promoted by Phoenix Hospitality and HBS Realtors.
The hotel will come up at Phoenix Market City, Kurla complex, which is under construction. The Kurla Complex is expected to be developed on 25 acre, and 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 with 165-rooms is expected to be a part of a larger Phoenix Market City project.
Ltd.

November 12, 2009