Shangri-La, the Hong Kong-based hospitality chain has terminated the management contract with asset owner Pallazzio Hotel and Leisure, the subsidiary of Phoenix Mills. A new operator of the hotel located in Lower Parel in Mumbai is to be finalised by year-end. Shangri-La, which as per the agreement had rights to manage the property for 20 years, has been operating at 50 per cent capacity.
Contact: Phoenix Mills
Tel: 022-2496 4307.