Phoenix Hospitality signs pact with Marriott International

Phoenix Hospitality Company, from the Ruia family, signed a long-term management agreement with Marriott International for hotel projects at Mumbai and Agra at a cumulative project cost of about Rs 320 crore. The Marriott at Phoenix Market City in Mumbai will be a 300-room hotel, close to the international and domestic airports. The hotel, which will be the first international 5-star hotel brand to start operations in the central suburb of Mumbai, will be developed by Graceworks Realty & Leisure, a company promoted by Phoenix Hospitality and HBS Realtors. The Courtyard by Marriott Hotel at Agra will have 165 rooms and 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.