Hong Kong-based luxury hotel chain Shangri-La Hotels and Resorts had made its entry in Mumbai last year when they took up the management of a 324-room property in mid-town Lower Parel. However, nine months later, the luxury chain and the property owner – the Ruia family – parted ways despite a 20-year agreement. The Ruias now are in advanced stages of negotiating with the US-based Starwood Hotels and Resorts to bring its luxury brand St. Regis for the upscale property.
While hotel properties do undergo changes in the brands that adorn their facades, the frequency has risen in the past few years. The influx of foreign hotel groups is at play. The new foreign brands are looking to stay ahead of the hospitality explosion expected in India.
Full report here Business Standard