CHANDIGARH: Hotel Park Plaza in Sector 17, which is now under the possession of Punjab National Bank as it defaulted on a loan of around ₹130 crore, has also been delisted by Carlson Rezidor hotel group under which it used brand name Park Plaza.
For city residents, the hotel which is in the heart of the city’s commercial hub, has been known by the name of Park Plaza, but it never was that of late, reports The Times of India.
The hotel is run privately. It was only in 2012 that the hotel was renamed from James Plaza to Park Plaza after it had entered into a contract with Carlson Rezidor hotel group.
Sources confirmed the Carlson Rezidor group terminated the contract for allegedly not meeting the specified brand standards. When TOI visited the hotel, there was no prominent visible board mentioning Park Plaza.
Agreeing the hotel has been delisted, hotel chairman and managing director H S Arora told TOI, “It was due to mismanagement. But we are locked in a legal battle with the group on the issue. We will now go with Starwood and get Le Meridien brand. Our venture will soon be run through a new brand name. We are at a serious stage of talks with the new brand and documentation will be initiated soon.”