<p>Hong Kong-based hospitality giant Shangri-La Hotels and Resorts has bet big on India, aiming to expand its hotel line in the South. It opened a new luxury hotel in Bengaluru on Thursday, with plans to open another in the same city by the end of 2016.<br /><br /></p>.<p>The 397-key, 19-storey Shangri-La Hotel, Bengaluru, is the second property from the Asian hospitality chain, which first set its presence here with a property in Delhi, 10 years ago.<br /><br />“We are bullish on the Indian hospitality scene. As a company, we believe this market will grow. Tourism is growing, encouraged by the government. More carriers are landing in the country, bringing in more guests,” Shangri-La Hotel At The Shard, London Executive Vice President and General Manager Darren Gearing told Deccan Herald.<br /><br />Rating agency ICRA estimates the revenue growth of the Indian hotel industry strengthening to 9-11 per cent in 2015-16.<br /><br />According to Shangri-La Bengaluru General Manager Jens Corder, “We come to Bengaluru since this is an international city. Many MNCs function here, and there is always scope for good occupancy.”<br /><br />The latest Shangri-La is owned and developed by realty major Adarsh Developers, while the hotel chain manages and operates it, under a management contract.<br /><br />According to sources, an investment of Rs 780 crore (including the cost of the two-acre land) has gone into developing this property, which is located close to the central business district. The hotel offers eight dining venues, a wellness centre and banqueting facilities.<br /><br />“We are keen to tap the tourism market, apart from business, corporate and MICE (Meetings, Incentives, Conventions and Exhibitions) clientele. We are also looking at the social market involving weddings, festivals and celebrations,” Corder said.<br /><br />The chain’s next project in Bengaluru — The Shangri-La Palm Retreat — (owned by Adarsh), which will open by the end of next year, will have a total of 370 rooms. Sources said that an investment of around Rs 600 crore has been earmarked for this project, which will also have around 200 serviced residences.<br /></p>
<p>Hong Kong-based hospitality giant Shangri-La Hotels and Resorts has bet big on India, aiming to expand its hotel line in the South. It opened a new luxury hotel in Bengaluru on Thursday, with plans to open another in the same city by the end of 2016.<br /><br /></p>.<p>The 397-key, 19-storey Shangri-La Hotel, Bengaluru, is the second property from the Asian hospitality chain, which first set its presence here with a property in Delhi, 10 years ago.<br /><br />“We are bullish on the Indian hospitality scene. As a company, we believe this market will grow. Tourism is growing, encouraged by the government. More carriers are landing in the country, bringing in more guests,” Shangri-La Hotel At The Shard, London Executive Vice President and General Manager Darren Gearing told Deccan Herald.<br /><br />Rating agency ICRA estimates the revenue growth of the Indian hotel industry strengthening to 9-11 per cent in 2015-16.<br /><br />According to Shangri-La Bengaluru General Manager Jens Corder, “We come to Bengaluru since this is an international city. Many MNCs function here, and there is always scope for good occupancy.”<br /><br />The latest Shangri-La is owned and developed by realty major Adarsh Developers, while the hotel chain manages and operates it, under a management contract.<br /><br />According to sources, an investment of Rs 780 crore (including the cost of the two-acre land) has gone into developing this property, which is located close to the central business district. The hotel offers eight dining venues, a wellness centre and banqueting facilities.<br /><br />“We are keen to tap the tourism market, apart from business, corporate and MICE (Meetings, Incentives, Conventions and Exhibitions) clientele. We are also looking at the social market involving weddings, festivals and celebrations,” Corder said.<br /><br />The chain’s next project in Bengaluru — The Shangri-La Palm Retreat — (owned by Adarsh), which will open by the end of next year, will have a total of 370 rooms. Sources said that an investment of around Rs 600 crore has been earmarked for this project, which will also have around 200 serviced residences.<br /></p>
